With health top of mind, consumers are interested in health and wellness (HW) products more than ever amid the coronavirus (COVID-19) pandemic. Packaged food, soft and hot drinks players enjoy sales increase among HW variants which continue to outperform non-HW products. This report analyses business strategies in the HW and nutrition space and explores the opportunities. Leading HW players focus on key trends including immunity support, mental and sleep health and plant-based products.
This report comes in PPT.
HW packaged food and beverage players enjoyed a sales increase for HW products in 2020. COVID-19 encouraged consumers to choose healthier options when purchasing their food and drinks. As a result, in food and beverage industries, HW products outperformed non-HW variants in 2020, and are expected to do so over the forecast period.
Consumer demand for immunity support is a high priority during the COVID-19 pandemic. Products linked to boosting immunity health saw sales soar. Probiotics experienced new heights, while expanding applications to wider food and drink products.
The acquisition of brands across industries is a common strategy among players in HW to expand their product portfolios. For example, with the acquisition of fairlife, a dairy brand in North America, Coca-Cola expanded its product portfolio to HW packaged food categories including free from lactose milk and ice cream.
Driven by the increasing demand for sustainable sourcing and nutritional benefits, plant-based alternatives continue growing. Nestlé is about to launch its first vegan Kit Kat and PepsiCo and Beyond Meat will create plant-based snacks.
With HW products often priced at the higher end compared to non-HW products, naturally global HW sales have been concentrated in developed markets. However, expanding geographical coverage is essential for further growth. As of 2020, Nestlé, Mondelez and Danone are the only companies with sales from emerging and developing markets exceeding or almost matching sales from developed markets.
Health and wellness is the aggregation of organic food and beverages, fortified/functional food and beverages, naturally healthy food and beverages, better for you food and beverages and food intolerance products.See All of Our Definitions
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