LONDON--(BUSINESS WIRE)--Technavio’s latest global health and wellness food market report highlights three key emerging trends predicted to impact market growth through 2019. Technavio defines an emerging trend as something that has potential for significant impact on the market and contributes to its growth or decline.
“Key findings of this market study indicate the Americas region to emerge as the largest market for health and wellness products over the next four years. The need to prevent and control obesity and diabetes is a key driver for the market. The market is witnessing a huge demand for health and wellness food products from various industries, with retail and food and beverage predicted to emerge as its major end-user segments until 2019,” said Vijay Sarathi, one of Technavio’s lead industry analysts for food research.
“To attract consumers and increase their sales, vendors are constantly innovating with new product offerings. To this end, vendors are introducing packaging and formulations, and even inventing new ways of increasing consumption. For instance, in Europe, Danone initiated new ways of eating yogurt by innovating with its brand Yolado, which is a yogurt-based dairy product made with fresh milk and is free of preservatives and colors. There are many similar developments from other vendors awaited by consumers, and this trend will likely boom the sales of health and wellness products globally,” added Vijay.
Technavio’s market research study identifies the following three emerging trends expected to propel growth of the global health and wellness food market:
- Emergence of performance nutrition
- Glucose control becoming mainstream health concern
- Increasing number of retail outlets dispensing health and wellness products
Emergence of performance nutrition
The global sports nutrition market was valued at over USD 24.57 billion in 2014 and is expected to grow at a CAGR of 8.10%. There is a high demand for protein-based products which is driving the performance nutrition category globally, with North America leading the market. The demand for protein-based bars, supplements, and powders is increasing among consumers due to the large number of functional benefits provided by proteins in terms of nutritional value, weight management, and strengthening of the immune system. To capitalize on the demand, Archer Daniels Midland, has launched Clarisoy which is emerging as a very popular protein ingredient used in sports beverages. Similarly, Tereos Syral's new range of products enriched with Meripro wheat proteins exhibit strong nutritional benefits that are rapidly becoming popular. Their range of cookies, breads, and cakes helping the elderly in increasing their protein intake. To tap this opportunity, many new entrants are expected to introduce such novel products in the next four years.
These products offer benefits, including building of muscle mass, muscle strength, conditioning and toning, endurance, muscle repair, and recovery. While the market remains largely focused on athletes, brands like the ‘Team Sky’ cycling team are expected to increase the appeal of these products to a broader audience as well.
Glucose control becoming mainstream health concern
Glucose control will soon take center stage in functional foods as part of the fight against rising obesity and its impact. In Europe, there have been 10 approved claims for blood glucose control, mainly for soluble fibers. However, in Japan more than 140 claims have been approved, and it is an indication of the positive impact blood glucose control products can have over the market.
Globally, 382 million people have diabetes, and WHO projects diabetes to emerge as the seventh leading cause of death in 2030. Responding to this new trend, manufacturers globally are coming up with new products that are aimed to address glucose imbalances. For instance, MINI Lifefood Chocolate Pink Salt Spirulina is completely free from dairy items, artificial sweeteners, hydrogenated fat, soy products, and gluten. It is sweetened with natural raw agave nectar and is therefore considered diabetic-friendly.
Increasing number of retail outlets dispensing health and wellness products
Major retailers, including Carrefour, Metro, Tesco, and Wal-Mart, are expanding their presence in Africa and APAC to expand their market shares. For instance, Wal-Mart has announced its plans to open 1,246 retail stores/outlets in Africa by 2016. Similarly, Carrefour has formed a joint venture with CFAO, a global leader in brand distribution, to expand its operations in eight countries, including Cameroon, Congo, Ivory Coast, the Democratic Republic of the Congo, Gabon, Ghana, Nigeria, and Senegal in West and Central Africa. Therefore, the increasing number of retail outlets across the world is consequently predicted to increase the demand for health and wellness food during the forecast period.
Browse related reports:
- Organic Food and Beverage Market: Forecast & Report Analysis 2015-2019
- Private Label Food and Beverages Market in US 2015-2019
- Global Probiotics Market 2015-2019
- Organic Food and Beverages Market in Europe 2015-2019
- Global Soy and Milk Protein Ingredients Market 2015-2019
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