As per the current market research conducted by the CMI Team, the global Primary Macronutrients Market size is expected to record a CAGR of 5.7% from 2023 to 2032. In 2022, the market size is projected to reach a valuation of USD 31.2 million. By 2032, the valuation is anticipated to reach USD 46.8 million.
Primary Macronutrients Market: Growth Factors and Dynamics
- Technological Advancements in Food Processing: Technological innovations have led to the creation of foods and supplements that retain higher nutritional value during processing. Advanced extraction techniques for proteins and healthy fats, along with innovative carbohydrate sources, have broadened the range of available macronutrient products.
- Customized and Functional Foods: Consumers are increasingly seeking personalized nutrition solutions. This has led to the development of functional foods that are fortified with specific macronutrients to address health concerns like weight management, heart health, and digestive wellness.
- Surging Health Consciousness: The growing global consciousness regarding the significance of maintaining a well-balanced diet and its profound implications for holistic health has surged the desire for primary macronutrients. Individuals are actively pursuing food items and supplements abundant in proteins, nourishing fats, and intricate carbohydrates to fulfil their dietary requisites.
- Evolving Sports and Fitness Landscape: The sports and fitness industry’s growth has fuelled demand for specialized nutrition products. Athletes and fitness enthusiasts are seeking macronutrient-rich supplements and foods to optimize their performance, support recovery, and achieve their fitness goals.
- Rapid E-Commerce Growth: The proliferation of e-commerce platforms has facilitated easy access to a wide variety of macronutrient-rich products. Online retailing allows consumers to explore and purchase products catering to their nutritional preferences and dietary requirements, contributing to market growth.
- Scientific Research and Nutritional Education: Ongoing research into the roles of carbohydrates, proteins, and fats in human health has led to a deeper understanding of their effects on metabolism, weight management, and chronic disease prevention. This research, coupled with educational efforts, has influenced consumer choices and driven market growth.
- Rise in Plant-Based and Protein-Centric Diets: The rise of plant-based diets and the popularity of high-protein diets have driven demand for both plant-based protein sources (such as legumes, nuts, and tofu) and specialized protein supplements. This shift in dietary preferences has influenced product development and innovation in the primary macronutrients market.
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Primary Macronutrients Market: Partnership and Acquisitions
- Unilever and Algenuity: In 2020, Unilever and biotech start-up Algenuity are announcing a new partnership to delve into the huge potential microalgae bring in innovating future foods for Unilever’s plant-based portfolio. Developing alternative protein sources like microalgae represents a significant step forward in the critical shift needed for an equitable and resilient food system.
- Nestlé’s Acquisition of Sweet Earth: In 2017, Nestlé USA announced that it had agreed to acquire Sweet Earth, a plant-based foods manufacturer based in Moss Landing, California. The acquisition gives Nestlé immediate entry into the plant-based foods segment in the US. The plant-based food market is growing by double digits and expected to reach CHF 5 billion.
Primary Macronutrients Market: COVID-19 Analysis
The COVID-19 pandemic has had a significant impact on the primary macronutrient market, with the industry experiencing both positive and negative effects. Here are some of the key impacts:
- Supply Chain Disruptions: The primary macronutrient market faced disruptions in supply chains due to lockdowns, travel restrictions, and labour shortages during the pandemic. This led to challenges in sourcing raw materials and transporting finished products, affecting production and distribution.
- Shift in Consumer Priorities: The pandemic prompted changes in consumer behaviour, with some individuals focusing more on shelf-stable and comfort foods rather than specialized nutritional products. Gyms closures and reduced outdoor activities also impacted demand for sports and performance nutrition products.
- Digital Engagement and E-Commerce: To adapt to changing consumer preferences, businesses turned to online platforms, expanding their e-commerce presence to reach customers directly. This digital shift allowed for continued sales and engagement during lockdowns and beyond.
- Emphasis on Immunity and Wellness: As health became a top priority, there was a renewed focus on products promoting immunity and overall wellness. Manufacturers introduced macronutrient-rich foods and supplements fortified with vitamins, minerals, and immune-boosting ingredients.
List of the prominent players in the Primary Macronutrients Market:
- Nestlé S.A.
- Danone S.A.
- General Mills Inc.
- Abbott Laboratories
- Kellogg Company
- The Kraft Heinz Company
- Mars Incorporated
- PepsiCo Inc.
- The Coca-Cola Company
- Unilever PLC
- Others
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