Immunity Boosting Food Products Market Overview
Market Research Future (MRFR) reveals that the immunity boosting food products market size is anticipated to reach USD 11.1 Billion in 2030, and it is most likely to procure a growth rate of 7.90% between 2023 and 2030 (forecast period). We will provide COVID-19 impact analysis with the report, along with all the extensive key developments in the market post the coronavirus disease outbreak.
Top Boosters and Barriers
Demand for Yogurt Goes Up Post COVID-19 Outbreak
Yogurt is considered to be the best source of probiotics that boosts the immune system, and also contains vitamin A, zinc and protein. In recent years, probiotic yogurt has garnered high traction, since it has active ingredients that render significant physiological and metabolic health benefits. Additionally, probiotics offer numerous health advantages, one of which is to bolster the immune system to prevent diseases. The rising cases of SARS-CoV-2 have made yogurt the go to immunity boosting food product, with the sales touching the sky. Sensing the opportunity, players are continuously exploring and developing food products that feature additional benefits and appeal to a higher number of customers. For instance, Fage is a company that is known for producing high-quality immunity boosting yogurt products that boast of extra health benefits. The mounting popularity of e-commerce and the surge in organized retail industry, especially since the COVID-19 pandemic, also contributes majorly to the market growth.
Expanding Health-Conscious Consumer Pool to Foster Market Growth
Focus on fitness and health among people had anyway been escalating for a long time, but with the advent of the novel coronavirus, the number of numbers of health-conscious consumers has shot up significantly across the globe. This has been quite favorable for the immunity boosting food products market. With the lockdown and the prevalence of stay-at-home practice, consumers are now more focused on being fit by adopting several diets, which could benefit their immunity. Another reason for the increase in health consciousness is the prevalence of sedentary jobs accompanied by stressful and hectic lifestyles that cause severe diseases. To address this issue, more and more people are opting for a balanced diet, leading to higher sales of immunity boosting food products that provide several nutrients. Besides, the expanding geriatric populace across countries that is prone to a number of chronic disorders will also foster immunity boosting food products markets growth in the following years.
Market Rife with Competition as Firms Collaborate
A large number of firms are undertaking the required measures to promote the importance of immunity boosting food products among consumers. They are focused on business expansion, entering strategic collaborations, product launches, joint ventures and acquisitions to increase their sales and profit margins. To illustrate, in November 2020, Promper collaborated with Zenxin Organic Food and Natures Superfoods to launch a range of immunity boosting superfoods, including chia seeds, quinoa, fresh turmeric, cocoa powder and cacao nibs. With this launch, Promper hopes to push the sales and make a mark in the immunity-boosting food products industry in Singapore.
Market Segmentation
Product type and distribution channel are the top market segments considered in the MRFR report.
Various product types mentioned in the report include fruits and vegetables, nuts and seeds, herbs and spices, probiotics and prebiotics, dairy-based products and more. Fruits vegetables segment has been in the lead since 2018 and can anticipate further growth in the coming years, as they are easily accessible, affordable, and are suitable for every age group.
Key distribution channels are non-store-based and store-based. Store-based channels, which are supermarkets hypermarkets, dominate the global market. A few other store-based segments are convenience stores, specialty stores/pharmacies, and more.
Regional Outlook
North America to Maintain its Winning Streak with US in the Lead
North America has been the market leader since 2018, as the sales of immunity-boosting food products in the region are substantial as people are highly focused on wellness and maintaining a healthy lifestyle. Consumers high purchasing power along with the robust network of reputed manufacturers also ensures North Americas dominance in the global market. The US/United States is the most lucrative market in the region, as the majority of the manufacturers here are constantly introducing new immunity boosting food products and supplements to gain the interest of more consumers. To cite a reference, in January 2020, ZAND (USA) introduced its latest immune-boosting product called Immune Fast. The supplement is believed to be a rapid immunity boosting product that gives results in only two hours.
APAC Market to Emerge Profitable as Chronic Illnesses Surge
APAC is anticipated to be a significant revenue pocket for the global market, backed by rapidly developing economies like India and China. The region presents a host of attractive opportunities to the players, considering the escalating cases of chronic disorders and the emergence of pandemics like COVID-19, H1N1 and Cholera. These factors have fostered the awareness among people regarding healthy foods and better lifestyle, which ultimately induces the demand for immunity-boosting food products in the region.
Renowned Firms
Some of the most renowned firms responsible for immunity boosting food products market growth include Blue Diamond Growers (US), Associated British Foods Plc (UK), Danone SA (France), Nestle S.A. (Switzerland), Olam International (Singapore), Dole Food Company, Inc. (US), Fonterra group Cooperative Limited (New Zealand), Pinnacle Foods Corp. (US), Hines Nut Company (US), Diamond Foods LLC. (US), and more.
