Diet Food and Beverages Market Size, Share, Growth, and Industry Analysis by Type (Diet Food, Diet Drinks), by Application (Hospital, Household, Other), and Regional Forecast to 2028

Updated On: 13 November 2023

Diet Food and Beverages Market Report Overview

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The global diet food and beverages market size was USD 226980 million in 2022. As per our research, the market is expected to reach USD 286690 million in 2028, exhibiting a CAGR of 4.0 % during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with diet food and beverages market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market growth and demand returning to pre-pandemic levels once the pandemic is over. 

Diet food are available to make it more convenient for consumers to lose weight and make healthier, and more liable consumption choices. There has been a major upsurge in obesity in teenagers and the elderly population which motivates the growth of the market. Due to numerous diseases such as diabetes, and high blood pressure with obesity has enhanced the consumption of diet food and beverages. Diet food and beverages are products that can contribute the body in decreasing excess fat and carbohydrates. Due to the rising diabetic inhabitants the demand for low sugar-based food products has raised. The increasing demand for a healthy diet including less sweetened food and drinks further contributed to the diet food and beverage market growth. The government's involvement in the diet food and beverages market where the government has taken various initiatives to discriminate between wrong and genuine classification has involved consumers to the diet foods and beverages market. Due to the developing demand for organic food, sales growth is rising simultaneously. The COVID-19 pandemic has presented absence of immunity among the people henceforth there is more demand for nutritional products to rise immunity and stay fit. Consumers moved their food acquiring and intake habits during the pandemic when restaurants were closed and home cooking had become the run-through. Fruit juice has its benefits, consumers are aware of the fact that fruit juice can help them to increase resistance and immunity and help them fight against virus. Thus, consumers are demanding more nutritional beverages especially fruit juices to maintain their health and can cope up with the virus.  Demand for beverages is constant thus production rate is also higher. Manufacturers are offering varieties in nutritional beverages to enhance the taste & increase the growth of the diet food and beverages market. Rising awareness of healthy eating habits and the importance of a balanced diet is driving the demand for diet food and beverages. Healthy eating can decrease the risk of chronic illness, heart disease, cancer and stroke. The growing competition between industrial players will crucially need energy drinks and additional make new market opportunities during the forecast period. Owing to the speedily emerging market, product improvement in terms of packaging, advertisement, and mix of healthy ingredients is the major policy implemented by companies.

COVID-19 Impact:  Pandemic facilitated the market positively due to significant change in consumer behaviour

COVID-19 pandemic has tremendously affected the whole world. The pandemic has led to significant changes in consumer behaviour, with more individuals spending online and selecting health and safety. Due to outbreak of COVID- 19 it is likely to increase organic food and purposeful beverages as consumers have become more conscious about health and improving their immunity. Pandemic had a progressive effect on the market.

Latest Trends

"Technological advancement to boost the market growth "

High implementation of advanced technology and the existence of large players in county are likely to create generous growth opportunities for the market. Technological innovation and advancement will further enhance the performance of the product. Online broadcast ad reach customers directly and are more likely to achieve customer consideration. Developments in technology have led to the expansion of new and better-quality materials contributing to the diet food and beverages market growth. Team up with other firms can lead to the enlargement of new products, services, technologies that can help to motivate growth and income. Some players focus on product improvement to meet consumer requirements and likings. 

Diet Food and Beverages Market Segmentation

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• By Type Analysis

According to type, the market can be segmented into diet food, diet drinks

Diet food capture the maximum market share through forecast period.

• By Application Analysis

According to application, the market can be segmented into hospital, household, other

Diet food and beverages market players cover segment as hospital will dominate the market share during forecast period.

Driving Factors

"Awareness about improving immunity to upsurge the market growth"

Rising concerns in the minds of clients are anticipated to increase the need for more preventive healthcare products to boost immunity. Consumers have become more conscious about improving immunity and it is expected to have an exceptional demand for immunity boosting products due to growing importance on healthcare, personal hygiene.

"Change towards natural ingredients to boost the market."

Manufacturers are increasingly using natural ingredients and have reduced the use of artificial colours and flavours. The need for organic food is increasing thus, as consumers prefer more natural diet food and beverages instead of chemically preserved foods. Consumers are increasingly focusing on diet due to increasing number of chronic diseases such as cancer, diabetes, cardiac issues. Many researchers and nutritional beverage manufacturers are urging governments to build awareness about the consumption of nutritional beverages. 

Restraining Factors

"High product cost to hamper the market growth"

High product cost and strict regulations regarding handling of product production and handling hinders the diet food and beverage market growth. Superior pricing of products limiting extensive customer approval, and restricted options to select from the product varieties are also hampering the market development.

Diet Food and Beverages Market Regional Insights

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"North America to dominate the region due to growing awareness"

North America is further expected to witness growth in the diet food and beverages market share. The region is anticipated to witness major growth over the forecast period due to growing awareness regarding the healthy food. The region consider that healthy diet helps to protect against starvation.

Key Industry Players

"Key players focus on partnerships to gain competitive advantage."

The key players are enthusiastically contributing in strategic events that are aimed at upholding strong market position and growing market share by merger, partnerships and others. Key players are motivated to introduce new innovative products. They outlay rigorously on research and development in order to arise with more new technology so that they can maintain and progress their existing market. The market changes are dynamic such as market expansion, partnership and merger.

List of Market Players Profiled

• Abbott Laboratories (U.S.)
• General Mills (U.S.)
• Herbalife (U.S.)
• Kellogg (U.S.)
• Medifast (U.S.)

Report Coverage

The report provides examination and information according to market segments. Business summary, financial summary, product portfolio, new project launch, recent development analysis are the factors included in the profile. The report incorporates completely examined and appraised evidence of the noticeable players and their position in the market by methods for various descriptive tools. The report covers nationwide and regional level market size and forecast. The report gives businesses the ability to research new outlook in many areas. The report shows to be an operational tool that players can use to gain a competitive superiority over their opponents and ensure lasting achievement in the market.