Human Nutrition Market Size Anticipated to Grow at a CAGR of 6.2% During the Forecast Period 2021-2026

NewYork, NY — (SBWIRE) — 09/24/2021 — Human Nutrition Market size was valued at $1,237 million in 2020 and is anticipated to grow at a CAGR of 6.2% during the forecast period 2021-2026. The substances found in food such as nutritional supplements and dietary supplements are called human nutrition. They are transformed into tissues and provide energy for all the physical and mental activities of the human body. Human nutrition can also be described as an interdisciplinarity. It includes physiology and biochemistry as well as molecular biology and psychology. Psychology and anthropology study the impact of cultural beliefs, attitudes, preferences, and cultural practices on food choices. The growth in the human nutrition industry is due to the increasing awareness about neonates’ care and the government initiatives. Due to poor eating habits, there has been an increase in the number of diseases. This led to a rise in the demand for fortified foods products. The human nutrition market is being hindered by strict regulations and labeling requirements regarding claims of health benefits.

Human Nutrition Market Segment Analysis – By Product Type

In 2020, on the basis of product type, vitamins segment accounted for the largest segmental revenue of the human nutrition market on account of the fact that this product type has a huge demand owing to the increasing consumption of fortified foods. Consumers in developed countries like the U.S., Japan and others are becoming more aware of preventive healthcare. This will allow the market to grow.

On the other hand, protein segment is projected to witness healthy growth throughout the forecast period 2021-2026 with a CAGR of 6. 80% since there is an increase in the number of consumers for protein supplements such as whey protein and dietary supplement. Moreover, there is growth in awareness amongst individuals regarding their physical health thereby, is to cater the sector growth in the product segment during the forecast period 2021-2026.

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Human Nutrition Market Segment Analysis – By Distribution Channel

On the basis of distribution channel, OTC segment accounted for the largest segmental revenue of the human nutrition market in 2020. This large share can be attributed the fact that OTC segment accounted for the largest portion of the human nutrition market’s revenue in 19536. Apart from this, the segment is projected to dominate over the forecast period 2021-2026 with a CAGR of 6.3% owing to the prevalence of such sales channels in the developing countries coupled with the availability of wide range of products and the discounts offered which is anticipated to positively impact the growth of this segmental market during the forecast period 2021-2026.

Human Nutrition Market Segment Analysis – By Geography

North America is the major region dominating the Human Nutrition market with a market share of 37. 90% in the year 2020. The U.S. is the epicenter of the market due to its well-developed distribution channel and production hub of key producers. The market is also growing due to increased demand in countries such as Mexico for these dietary supplements.

However, Asia-Pacific is projected to be the significant-growing market during the forecast period 2021-2026 owing to rising consumer base in the countries including India, China, and South Korea of the region. Furthermore, there is an increasing expenditure by the consumers of the regions owing to the increase in the per capita income which is poised to propel the market growth throughout the human nutrition market forecast period 2021-2026.

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Human Nutrition Market Drivers

Rising Consumer Awareness

The human nutrition market is poised to receive upswing owing to the rapid increase in demand for several human nutrition products owing to the fact that there is an increasing consumer awareness regarding personal health and wellbeing followed by growing health consciousness and demand for nutritional supplements across geographies has led in innovations that has resulted in all major manufacturing companies focusing on such innovative products.

Human Nutrition Market Challenges

Strict Regulations and Improper Product Labeling

One of the major factors lowering the human nutrition unit sales is owing to the potential hazards occurring in neonatal products by inaccurate product labeling which is hindering the market growth during the forecast period 2021-2026. The market for human nutrition is also being affected by strict regulations and rules regarding health benefits.

Human Nutrition Market Landscape

Product launches, mergers and acquisitions, joint ventures and geographical expansions are key strategies adopted by players in the Human Nutrition market. In 2020, Human Nutrition market share is fragmented by the top ten players present in the market. The Human Nutrition market top 10 companies are BASF SE, Abbott Laboratories, Koninklijke DSM N.V., DuPont de Nemours, Inc., Chr. Hansen Holding A/S, USANA Health Science, Inc., Pharmavite LLC., Nestle S.A., Kerry Group PLC, Glanbia PLC., Corbion N.V., ADM, and other companies are in the top ten of the Human Nutrition market.

Acquisitions/Product Launches

In September 2020, Prorganiq announced the launch of a new, innovative health product ’24-in-1 mega superfoods’. The new product packs a powerful formula of amino acids, vitamins, and minerals; the product is 100 per cent plant-based and offers a gluten-free, GMO-free dietary supplement that is aimed at helping people live a healthier lifestyle.

Key Takeaways

Geographically, North America region held the highest market share in 2020.

Among the key factors that will drive growth in the human nutrition market are increasing consumer awareness about their health and well-being, as well as growing health consciousness.

Additionally, factors such as improved formulation benefits of human nutrition products over the conventional ones are to create opportunities paving a way for the growth in the market during forecast period 2021-2026.

Related Reports:

A. Vitamins And Nutrition Supplements Market

https://www.industryarc.com/Report/231/Vitamins-and-Nutrition-supplements-Market-report.html

B. Medical Nutrition Market

https://www.industryarc.com/Report/16675/medical-nutrition-market.html

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