Complete Nutrition Products Global Market Opportunities and Strategies to 2033

This report describes and explains the complete nutrition products market and covers 2018-2023, termed the historic period, and 2023-2028, 2033F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.

The global complete nutrition products market reached a value of nearly $5.6 billion in 2023, having grown at a compound annual growth rate (CAGR) of 5.82% since 2018. The market is expected to grow from $5.6 billion in 2023 to $7.7 billion in 2028 at a rate of 6.91%. The market is then expected to grow at a CAGR of 7.85% from 2028 and reach $11.3 billion in 2033.

Growth in the historic period resulted from increasing health awareness, rising changes in lifestyle and food habits, strong economic growth in merging markets. Factors that negatively affected growth in the historic period were high costs.

Going forward, rapid growth in urbanization, increasing demand for convenience food, increase in the aging population, growing demand for e-commerce will drive the market growth. Factor that could hinder the growth of the complete nutrition products market in the future include export restrictions.

The complete nutrition products market is segmented by product into powder, (ready-to-drink) RTD shakes and bars. The powder market was the largest segment of the complete nutrition products market segmented by product, accounting for 53.7% or $3 billion of the total in 2023. Going forward, the (ready-to-drink) RTD shakes segment is expected to be the fastest growing segment in the complete nutrition products market segmented by product, at a CAGR of 8.02% during 2023-2028.

The complete nutrition products market is segmented by distribution channel into supermarkets & hypermarkets, convenience stores, online platforms and other channels. The supermarkets & hypermarkets market was the largest segment of the complete nutrition products market segmented by distribution channel, accounting for 40.8% or $2.3 billion of the total in 2023. Going forward, the online segment is expected to be the fastest growing segment in the complete nutrition products market segmented by distribution channel, at a CAGR of 8.33% during 2023-2028.

The complete nutrition products market is segmented by end-user into infant and toddlers (0-4), children and teens (5-18), adults (19-60) and elderly (60+). The adults (19-60) market was the largest segment of the complete nutrition products market segmented by end-user, accounting for 52.6% or $2.9 billion of the total in 2023. Going forward, the infant and toddlers (0-4) segment is expected to be the fastest growing segment in the complete nutrition products market segmented by end-user, at a CAGR of 7.09% during 2023-2028.

North America was the largest region in the complete nutrition products market, accounting for 42.8% or $2.4 billion of the total in 2023. It was followed by Western Europe, Asia Pacific and then the other regions. Going forward, the fastest-growing regions in the complete nutrition products market will be Asia Pacific and Middle East where growth will be at CAGRs of 8.1% and 7.5% respectively. These will be followed by Western Europe and Eastern Europe where the markets are expected to grow at CAGRs of 7.3% and 6.6% respectively.

The global complete nutrition products market is concentrated, with a few large players operating in the market. The top ten competitors in the market made up to 47.8% of the total market in 2022. The market concentrated can be attributed to the presence of large players in different geographies. Danone was the largest competitor with a 16.8% share of the market, followed by Abbott Laboratories with 8.6%, Nestle S.A. with 6.8%, Amway with 6.2%, Herballife Nutrition Ltd with 5%, Huel Limited with 1.7%, MuscleBlaze with 1.2%, LadyBoss with 0.6%, SlimFast with 0.5% and RSP Nutrition LLC with 0.5%.

The top opportunities in the complete nutrition products market segmented by product will arise in the powder segment, which will gain $1 billion of global annual sales by 2028. The top opportunities in the complete nutrition products market segmented by distribution channel will arise in the supermarkets and hypermarkets segment, which will gain $944.2 million of global annual sales by 2028. The top opportunities in the complete nutrition products market segmented by end-user will arise in the adults segment, which will gain $1.1 billion of global annual sales by 2028. The complete nutrition products market size will gain the most in USA at $760.5 million.

Market-trend-based strategies for the complete nutrition products market include focusing on new product launches, such as plant protein powder, a dietary supplement derived from various plant sources, developing and introducing high-performing dietary powders to gain a competitive edge in the market, focusing on developing nutritional supplements for modern lifestyle and millennials’ preferences, developing innovative products such as plant-based protein shakes to gain a competitive advantage, adopting new technologies to create innovative nutritional products.

Player-adopted strategies in the complete nutrition products market include focus on investments to expand its product portfolio, focus on expanding business capabilities through merger and acquisitions, improving portfolio through product launches.

To take advantage of the opportunities, the analyst recommends the complete nutrition products companies to focus on plant-based innovations, focus on plant-based protein innovation, focus on convenient nutrition solutions, focus on innovative plant-based protein shakes, focus on innovative nutritional technologies, focus on ready-to-drink (RTD) shakes market, expand in emerging markets, continue to focus on developed markets, focus on online market, focus on pricing strategies, participate in trade shows and events, focus on digital marketing channels, invest in educational campaigns and focus on infant and toddlers (0-4) market segment.