Global Health and Wellness Sales to Reach $774 Billion in 2014
Euromonitor International finds that sector has grown 6.75%
Global market research company Euromonitor International released new data on the health and wellness industry, which has grown by 6.75% in current value terms reaching US$774 billion in 2014.
“Healthy soft drinks will account for half of global soft drink retail sales in 2014 and over the next five years, healthy packaged food will account for a third of total packaged food retail sales.”
“Healthy food and beverages are once again outperforming their non-health and wellness counterparts,” said Ewa Hudson, Global Head of Health and Wellness Research at Euromonitor International. “Healthy soft drinks will account for half of global soft drink retail sales in 2014 and over the next five years, healthy packaged food will account for a third of total packaged food retail sales.”
Key findings from the new research:
Milk formula is the world’s fastest growing health and wellness category, growing by US$4.3 billion in 2014
Gluten free bakery products are the third fastest growing health and wellness category with sales up by 16% in 2014
Naturally healthy ready-to-drink tea will grow by US$14.5 billion, which is nearly US$2 billion more than energy drinks between 2014-2019
“Driving the growth in health and wellness are emerging markets, adding 87% of absolute growth between 2009-2014. Despite this, developed markets still account for 60% of total global health and wellness retail sales. These markets should not be overlooked and instead should be considered an innovation hotspot promoting a more personalized approach to nutrition, with a focus on areas such as brain and vision health or food intolerance,” concluded Hudson.