The overall health and wellness food products segment crossed Rs 10,000 crores sales mark in recent years
Food consumption patterns and preferences are undergoing significant changes all over the world. Due to an ever-evolving lifestyle, a growing awareness of quality, and the increasing incidence of food-heart-related diseases like diabetics, obesity, etc., consumers worldwide are showing an interest in a preventive lifestyle rather than a curative approach.
People have adapted to healthy eating as a way of living a good life. It is not surprising therefore that the health and wellness movement has been on the radar of the major food companies who are proactively tapping into the rapidly growing product categories in this market. The health foods sector is at a budding stage in India and is poised to register significant growth in the years to come.
According to a report, the overall health and wellness food products segment crossed Rs 10,000 crores sales mark in recent years, less than 10 per cent of the overall food market, and the entrepreneurs are capitalising on the rising demand for healthy F&B. Below are the top five trends that are shaping the health & wellness food industry.
Innovation in ingredients
From such earlier drivers of food as taste and quality, the food industry has evolved to a level wherein development is driven by advanced consumer desires like an indulgence, conscience, and, lately, impact on health.
With customers becoming vegan and adopting gluten free, dairy free products, businesses are tapping on this trend by innovating with their available products. Consumers perceive “free from” products as more natural and healthier, which is the key driver in this industry. Consumer trends show that there is a great demand for organic packaged food also.
Energy Boosting Food
In today’s fast-paced world, it has become necessary to remain energetic throughout the day. Consumers have understood the implicit concept between the food we eat and the energy gained. Thus, the focus has been shifted to healthy eating from weight management.
People are adapting to the holistic approach to healthy living and thus, increasing the demand for energy boosting food & drinks. Thus this trend is giving a major boost to the brands dealing with energy bars, juices & aerated drinks.
Organic food has been the talk of the town since the past few years. The market pundits have predicted that the organic food industry will continue to increase, opening a whole host of opportunities in this segment. Consumers are increasingly purchasing products perceived as fresher, more natural and more sustainable. Owing to higher income levels, improving living standard and favourable government initiatives aimed at improving the current scenario of organic farming in the country by providing financial and technical support to organic farmers, the organic food industry is predicted to thrive in coming years. The market is projected to grow at a CAGR of over 25% by 2020.