Pune, March 28, 2023 (GLOBE NEWSWIRE) -- As per SNS Insider, the complete nutrition products market is witnessing a surge in innovative product offerings, including vegan and plant-based options, organic and non-GMO products, and specialized formulas for specific health conditions. The SNS Insider reports that the Complete Nutrition Products Market was valued at USD 3.58 billion in 2022 and is projected to reach USD 5.95 billion by 2030, with a projected growth rate of 6.57% during the forecast period of 2023-2030.
Complete nutrition products are dietary supplements that are designed to provide a comprehensive range of nutrients essential for maintaining optimal health. These products are specifically formulated to fill in nutritional gaps and ensure that individuals meet their daily recommended intake of vitamins, minerals, and other essential nutrients.
Complete nutrition products are available in various forms, including powders, capsules, and meal replacement shakes.
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Complete Nutrition Products Market Report Scope
| Report Attributes | Details |
| Market Size in 2022 | US$ 3.58 Billion |
| Market Size by 2030 | US$ 5.95 Billion |
| CAGR From 2023 to 2030 | CAGR 6.57% |
| Key Segments | • by Products (Powder, Ready-to-drink Shakes, and Bars) • by Distribution Channel (Supermarkets & Hypermarkets, Convenience Stores, Online, and Others) |
| Regional Analysis | North America Europe Asia-Pacific The Middle East & Africa Latin America |
| Company Profiles | Huel Inc., Soylent, IdealShape, SlimFast, LadyBoss, RSP Nutrition, Numix, MuscleBlaze, Jimmy Joy, YFood Labs GmbH |
| Market Drivers | •Expanding discretionary cash flow of the shoppers. •Popularity for solid and natural food and drinks. |
Market Analysis
Consumers are becoming more health-conscious and are seeking natural, organic food alternatives with clean labels. Complete nutrition products are gaining popularity as a result of this trend. These products are seen as convenient and easy to prepare, and are expected to become increasingly popular in the future. E-commerce is also contributing to the growth of complete nutrition products. With the increasing penetration of the internet, consumers have more access to information and are more likely to purchase these products online. This increased visibility is expected to further drive demand for complete nutrition products market.
Impact of Recession
A recession can have a significant impact on the complete nutrition products market. During an economic downturn, consumers often cut back on spending and prioritize their purchases. However, it's important to note that not all segments of the market are equally affected by a recession. For example, the market for essential vitamins and minerals may be less affected than the market for performance-enhancing supplements.
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Key Regional Development
The market in North America is thriving, with the region holding the largest revenue share. The growth in this market is driven by the increasing concerns over health issues, such as obesity and diabetes, particularly among young consumers. The rising demand for complete nutrition products in North America is a direct result of the need to maintain a healthy lifestyle and manage these health conditions effectively.
Recent Developments Related to Complete Nutrition Products Market
- Shaklee, a renowned health and wellness company, has recently launched its latest product, Meology™ Prenatal. This new addition to their range of products is designed to provide complete nutrition support to expectant mothers during their journey of motherhood. This prenatal supplement is specifically formulated to support the mother's overall health. Meology™ Prenatal also contains folic acid, which is essential for the development of the baby's neural tube and brain.
- Starco Brands, a leading consumer packaged goods company, has recently announced its acquisition of Soylent, a pioneering brand in the nutrition industry. This move represents a significant strategic move for Starco Brands, as it aims to expand its reach in the wellness and nutrition markets. Starco Brands, which has a strong portfolio of health and wellness brands, including Dr. Tobias, BioSchwartz, and SmartyPants, will now have access to Soylent's expertise in complete nutrition.
Key Takeaway from Complete Nutrition Products Market Study
- The powder segment is currently dominating the market and is expected to continue to do so in the coming years. Powders are a particularly popular choice for health-conscious consumers because they offer a convenient and easy way to incorporate essential nutrients and vitamins into their diets.
- Supermarkets and hypermarkets have established themselves as the leading segment in the industry. The dominance of segment can be related to their effective marketing strategies and their ability to cater to the changing consumer demands.
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