Global Nutritional Food Market Expected To Reach $11 Billion By 2029 as Demand for Healthy Options Grows
FinancialNewsMedia.com News Commentary
Palm Beach, Fla., Sept. 22, 2022 /PRNewswire/ -- The Global nutritional food market has emerged from the pandemic as a market that is projected to continue rapid growth in the coming years. Human bodies need vitamins and minerals, known as micronutrients. These micronutrients nourish body and helps in keeping it healthy. The rise in health awareness is escalating the growth of the nutritional food market. These nutrients can reduce your risk for chronic diseases. According to DATA BRIDGE Market Research, the global nutritional food market, which was valued at USD 5.40 billion in 2021, is expected to reach USD 11.08 billion by 2029, registering a CAGR of 9.40% during the forecast period of 2022-2029. The market report said: "Nutrition refers to the physiological and biochemical process through which an organism uses food to support its life. Absorption, biosynthesis, excretion, ingestion, assimilation and catabolism are included in it. Nutrient-rich foods are known to have low sodium, sugar, bad fats and starches, also they possess large amount of vitamin and minerals." The increase in the cases of malnutrition and poor diets across the globe acts as one of the major factors driving the growth of nutritional food market. The implementation of nutrition labeling and claims regulations owing to the benefits to the food industry from nutritional labeling and claims accelerate the market growth. The increase in demand for nutritional and dietary supplements due to the rising health consciousness further influence the market." Active companies in the markets this week include: Pangea Natural Foods Inc. (OTCQB: PNGAF) (CSE: PNGA), Beyond Meat, Inc. (NASDAQ: BYND), The Simply Good Foods Company (NASDAQ: SMPL), United Natural Foods, Inc. (NYSE: UNFI), The Very Good Food Company Inc. (NASDAQ: VGFC) (TSX-V: VERY).
The report continued: "Furthermore, stringent regulations for edible beverages extend profitable opportunities to the market players in the forecast period of 2022 to 2029. Also, rise in demand for nutrition analysis will further expand the market. North America dominates the nutritional food market because of the increase in the cases of foodborne disease outbreaks within the region. Asia-Pacific (APAC) is expected to witness significant growth during the forecast period of 2022 to 2029 due to the rising prevalence of obesity in the region."
Pangea Natural Foods Inc. (OTCQB: PNGAF) (CSE: PNGA) BREAKING NEWS: PANGEA ANNOUNCES PRODUCT LISTING INTO URBAN FARE, WESTERN CANADA'S GOURMET SUPERMARKET CHAIN - Pangea Natural Foods Inc. ("Pangea" or the "Company"), a natural food company, is pleased to announce the listing of its Old Fashioned Ghee in all Urban Fare stores located across multiple upscale districts in British Columbia and Alberta.
Urban Fare is a subsidiary of the Pattison Food Group, which is Canada's largest Western-based provider of food and health products. Headquartered in British Columbia, Canada, Pattison Food Group's legacy spans a business going back 107 years, and now employs more than 30,000 team members. Currently with 6 locations across Vancouver, Calgary, and Kelowna, Urban Fare is primarily upmarket, with a focus on high-end, gourmet, organic and imported foods.
Effective immediately, Pangea's Old Fashioned Ghee is now listed in all six Urban Fare locations in British Columbia and Alberta. The Company's Old Fashioned Ghee is a grass-fed, organic, clarified butter sourced from New Zealand.
Pangea's CEO, Pratap Sandhu, commented on the Company's new distribution with Urban Fare, "This is officially our second listing with the Pattison Food Group, as we already sell our products in Save-On-Foods locations. Now having been added to the shelves in all Urban Fare locations, we see this is another vote of confidence testifying the elite quality of our Old Fashioned Ghee product. We look forward to introducing our products to Urban Fare's customers, who are known for their discerning tastes and their focus on delicious, nutritious and sustainable eating."
Ghee is a clarified and unsalted form of butter that is caramelized and transformed into pure fat at a high smoking point, with the milk solids removed, meaning even the lactose-intolerant to enjoy the remaining pure ghee. CONTINUED… Read this full release and more news for Pangea Natural Foods at: https://www.pangeafood.com/ Other recent developments in the industry include:
Beyond Meat, Inc. (NASDAQ: BYND) and Taco Bell recently announced the unveiling of a first-of-its kind, category-disrupting product: Beyond Carne Asada Steak™. Completely new yet expectedly flavorful, this plant-based protein will be available at select Taco Bell locations in the Dayton, Ohio area starting October 13, for a limited time, while supplies last. This is Taco Bell's latest move as a vegetarian leader in QSR.
"At Taco Bell, we've long believed that anyone should be able to choose plant-based menu items without compromising the flavors they crave," said Liz Matthews, Taco Bell's Global Chief Food Innovation Officer. "That's why we at Taco Bell are thrilled to reveal the result of our long-standing partnership with Beyond Meat, which is previously unseen in the QSR industry. This plant-based carne asada steak is just the latest move in our history of crafting some of the most unique, craveworthy offerings for all fans."
The Simply Good Foods Company (NASDAQ: SMPL), a developer, marketer and seller of branded nutritional foods and snacking products, recently reported financial results for the thirteen and thirty-nine weeks ended May 28, 2022.
"We are pleased with our third quarter financial results and the solid marketplace performance of our business that continues to be driven by our focus on growth and ability to execute effectively in a challenging operating environment," said Joseph E. Scalzo, President and Chief Executive Officer of Simply Good Foods. "Net sales increased 11.5% and combined measured and unmeasured channel U.S. retail takeaway growth was about 15%, in line with the core North America net sales increase. The net sales increase in the quarter was greater than our expectation due to better than anticipated retail takeaway growth and higher customer inventory that was not drawn down during the quarter. In the third quarter, supply chain costs were greater than the year ago period and in line with our expectations."
United Natural Foods, Inc. (NYSE: UNFI) recently announced it has added two new meal solutions to its offering to better allow retailers to meet the growing demand for quick, restaurant quality meals, while reducing in-store labor and the time required to create similar products on their own. The meal solutions are available nationwide to the more than 30,000 customer locations UNFI services.
The new on-trend meal solutions, a fresh meal kit from Cook•Able and flash-frozen meals from Cadence Kitchen, allow UNFI to quickly deliver additional high quality product choices which help customers differentiate their offerings at a time when consumers increasingly rely on their local retailer for meal options.
"With consumers continuing to favor eating at home versus away, retailers are looking to offer delicious and effortless products to time-challenged consumers that replicate the restaurant experience at budget friendly pricing," said Jody Barrick, Vice President of Bakery/Deli at UNFI. "These chef-inspired offerings from Cook•Able and Cadence Kitchen give retailers a fast, delicious and reasonably priced turnkey experience, affording their teams additional time to focus on serving their customers."
The Very Good Food Company Inc. (NASDAQ: VGFC) (TSXV: VERY.V), a leading plant-based food technology company, recently reported foodservice distribution gains with two of the largest North American foodservice providers.
Availability with these large distributors is expected to significantly increase the availability of VERY GOOD's natural, plant-based food products for restaurants, healthcare and educational facilities, hospitality businesses, and other companies across Canada.
Parimal Rana, CEO of VERY, commented: "The onboarding of these foodservice providers for delivery within Canada, represents important progress on our strategic initiative announced earlier this year as we establish a foothold in the foodservice channel. Product availability with these foodservice providers significantly expands our reach and promotes consumer familiarity with VERY's clean, plant-based meat product line."
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