The human nutrition market has exceeded US$532.43 billion

WESTFORD USA, Jan. 24, 2023 (GLOBE NEWSWIRE) — Increasing public awareness about the importance of public health and well-being, an aging population, and the growing use of smart health monitoring devices are driving amazing growth in human nutrition market. In addition, factors such as rising prevalence of diseases due to unhealthy eating, increasing demand for fortified food products, and increasing disposable income are also contributing to the growth of the market significantly. Moreover, the increase in the number of product launches to bring in different types of products to attract a new consumer base is also a vital factor for the rapid expansion of the market.

Human nutrition refers to substances found in foods, such as food and nutritional supplements. It is converted into body tissues and provides energy via fatty acids, amino acids and other functional nutrients to support all types of physical and mental activities in human life. Consumers are becoming more interested in human food products due to their potential nutritional and therapeutic effects.

Based on global research by SkyQuest, around 52% of children under the age of five die of hunger, and an estimated 225 million (37%) suffer from chronic malnutrition in developing countries. As a result, many governments have started to give more focus on ensuring adequate levels of the nutrient among people through various initiatives.

The OTC segment to attract a larger target audience due to its diversified and budget-friendly product offerings

According to SkyQuest’s segment analysis, the OTC segment accounted for 26.5% of the market share in 2022 and is expected to grow at a compound annual growth rate of 6.7% from 2022 to 2028 to take this role. The significant growth of the segment can be attributed to the fact that consumers are well aware of the benefits of taking various nutritional supplements in addition to their regular diet, which helps in OTC sales. Moreover, the spread of these sales channels in developing countries, along with the availability of a variety of products and discounts, is expected to positively influence the growth of the segments.

With a market share of 38.27% in 2022, North America has become the major region dominating the human nutrition market within the over-the-counter segment. This growth can be attributed to the fact that the United States is the center of the market due to the presence of a well-developed distribution channel and production center for major manufacturers. Moreover, the growing demand for such nutritional supplements among the youth is one of the factors driving the growth of the market in North America.

The report segments the global Human Nutrition market to provide the closest estimates of market share revenue for the total market and sub-segments across various segments and regions. In addition, the market report provides a comprehensive analysis of the market size at the regional and national levels, as well as market growth forecasts over the forecast period and motive sales analysis.

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The probiotics segment accounts for rapid growth in revenue as a result of increased preference for preventive healthcare

According to SkyQuest’s market analysis, the probiotics segment has consistently dominated the human nutrition market and captured 34.5% of revenue share in 2022 and the share is expected to reach 39.3% by 2028. Increased consumer preference for preventive healthcare, increased global health awareness campaigns, and developing effective probiotic strains driving the probiotics market. Probiotics benefit the body in adequate amounts, such as improving gut health and reducing intestinal inflammation. In addition, probiotics play an essential role in preventive healthcare by strengthening the immune system. As a result, increased consumption among young people and athletes is expected to lead to exponential growth in this sector.

The Asia Pacific region is expected to witness the fastest growth in the coming years due to the expanding customer base in the region, which includes leading countries such as China, South Korea and India. In addition, consumers in regions are spending more money due to higher per capita income, which is expected to boost market expansion across the human nutrition segment.

The research gives players key market drivers, restraints, challenges, and opportunities, helping them in understanding the pulse of the Human Nutrition market. In addition, the report will help the stakeholders to better understand the competitors and gain more knowledge to enhance their position in their industries. The competitor ecosystem, new product development, agreements, and acquisitions are included in the section on competitive landscape.

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https://skyquestt.com/report/human-nutrition-market

Key developments in the human nutrition market

  • NAMUH, an infant nutrition company, has announced a multi-product partnership to create functional oligosaccharides that are structurally equivalent to those found in human breast milk. By cooperating with Ginkgo, NAMUH can produce various HMOs through yeast fermentation, which makes the nutritional value of infant formula considerably closer to that of human breast milk. In addition, they could benefit from Ginkgo’s expertise in engineering yeast strains and developing the fermentation process.
  • Supply Chain Fitness and WARP, a network of cross docks and technology-enabled carriers focused on mid-mileage solutions, have launched a new collaboration (SCF). For the entire supply chain community, SCF, under the direction of physical therapist Dr. Mark Manera, offers one-on-one exercise, diet, and accountability coaching. In addition, WARP matches shippers with carriers based on loads that match their capacity and type of equipment in each market to maximize operating hours and increase fleet revenue.
  • Butterfly, a private equity firm specializing in the food industry, has announced its acquisition agreement with Milk Specialty Global, a leading human and animal nutrition company. The company’s human nutrition segment manufactures premium dairy ingredients and proteins intended to improve diet and health. In addition, it is the market leader in performance feed.
  • Balchem, a leading specialty ingredients company, has announced the acquisition of Cardinal Associates Inc. Ltd., a leading science-based manufacturer of Methylsulfonylmethane (MSM). MSM is a popular nutrient with strong scientific evidence supporting its benefits for joint health, sports nutrition, skin, beauty, healthy aging, and pet health.

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Leading Players in the Human Nutrition Market

  • BASF SE (Germany)
  • Royal DSM NV (Netherlands)
  • Abbott Laboratories (USA)
  • Human Rights Center. Hansen Holding A/S (Denmark)
  • DuPont de Nemours, Inc. (United State)
  • Pharmavit LLC. (we)
  • USANA Health Sciences, Inc. (United State)
  • Kerry Group PLC (Ireland)
  • Nestle SA (Switzerland)
  • Corbion NV (Netherlands)
  • Glanbia plc. (Ireland)
  • Bayer Health Care AG (Germany)
  • ADM (United States)
  • Mattson Nutrition (USA)
  • Amway Corp. (United State)

Related reports in the SkyQuest library:

Global Frozen Finger Chips Market

Global botanical nutritional supplement market

Global Superfood Market

Global liquid plant extracts market

Global mealworm market

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The human nutrition market has exceeded US$532.43 billion

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