Meticulous Research®, a prominent global market research firm, has released a comprehensive report titled "Human Nutrition Market by Type (Vitamins, Proteins, Minerals, Fatty Acids, Carbohydrates), Application (Functional Food, Functional Beverages, Dietary Supplements), Population (Geriatric, Pediatric, Maternal), and Geography - Global Forecast to 2030." This research provides valuable insights into the human nutrition market, including trends, growth projections, and key players.
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Projected Market Growth
The global human nutrition market is anticipated to reach $189.2 billion by 2030, expanding at a compound annual growth rate (CAGR) of 7.4% from 2023 to 2030. This growth is primarily driven by an increasing health and wellness trend, heightened demand for fortified food products, lifestyle changes, a rise in chronic disease prevalence, and greater applications in infant formulas and dietary supplements. Additionally, product innovations and technological advancements by key industry players are expected to create further growth opportunities.
Market Segmentation
The human nutrition market is segmented based on various criteria, including type, application, population, and geography. The types examined in the report encompass vitamins (both fat-soluble and water-soluble), probiotics, proteins, amino acids, carbohydrates (monosaccharides and oligosaccharides), fats, fatty acids, and minerals (macro and microminerals). Applications include functional foods (such as dairy, bakery, snacks, and infant foods), functional beverages (like energy drinks and fortified juices), dietary supplements, and other uses. The population categories analyzed consist of pediatric, geriatric, maternal, athletes, and others, while the geographical segments include North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
Vitamins Segment Dominance
In 2023, the vitamins segment is projected to hold the largest share of the global human nutrition market. This dominance is attributed to the growing awareness of health and well-being among consumers, the rising prevalence of vitamin deficiencies, and the significant demand for vitamin-fortified foods. Moreover, the increasing health consciousness and the steady growth of the geriatric population in developed regions are expected to boost demand for this segment.
Functional Beverages Growth
Among the applications studied, functional beverages are expected to register the highest CAGR during the forecast period. This rapid growth can be linked to the surging demand for functional beverages in emerging economies, a growing interest in sports drinks, and an increase in health-related expenditures.
Geriatric Population Focus
In terms of population categories, the geriatric segment is expected to dominate the human nutrition market in 2023. This significant market share is driven by factors such as the increasing aging population, the necessity to maintain and improve digestion and immunity among older adults, and the high prevalence of chronic diseases within this demographic.
Regional Insights
Among the regions analyzed, North America is projected to capture the largest share of the human nutrition market in 2023. This substantial market share is due to a well-established nutraceutical and functional food industry, a growing demand for nutritional supplements, significant investments in research and development for human nutrition products, and a rising prevalence of chronic diseases such as cancer, diabetes, and obesity. Additionally, an increasing focus on healthy lifestyles and growing health & wellness trends contribute to North America's market dominance.
Key Players in the Market
The human nutrition market features a moderately competitive landscape, with numerous large and small players competing globally, regionally, and locally. Notable companies operating within this space include Koninklijke DSM N.V. (Netherlands), Archer Daniels Midland Company (U.S.), Chr. Hansen Holding A/S (Denmark), Glanbia plc (Ireland), Corbion N.V. (Netherlands), Associated British Foods plc (U.K.), Arla Foods (Denmark), Ingredion Incorporated (U.S.), Tate & Lyle PLC (U.K.), Ajinomoto Co. Inc. (Japan), Cargill, Incorporated (U.S.), BASF SE (Germany), and Kerry Group plc (Ireland).
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