Table of Contents
Food and Nutrition Market Overview
The food and nutrition industry is dynamic and shaped by consumer trends, regulations, and technology. Growing health awareness fuels demand for nutritious foods, while sustainability drives interest in eco-friendly products.
Digitalization transforms how consumers interact and supply chains operate, and urbanization spurs demand for convenient and global cuisine. Key sectors encompass functional foods, organics, plant-based options, and supplements.
Challenges like food security and regulations exist alongside innovation opportunities and partnerships. Embracing sustainability and digital strategies is crucial for companies navigating this evolving market.
Market Drivers
The global food and nutrition market thrives due to various factors. Rising health consciousness boosts the need for nutritious foods, while sustainability drives interest in eco-friendly options.
Digital advancements transform consumer interaction and supply chain efficiency while changing dietary trends mirror evolving lifestyles.
Regulatory standards shape product development, and demographic changes, like aging populations, spur demand for convenient dietary solutions.
Ongoing innovation is vital for companies to adapt to consumer preferences and maintain competitiveness in this dynamic market.
Market Size
- In 2023, the global market for functional and natural health foods hit $23.5 billion, poised to surge to $38.5 billion by 2033.
- The Global Functional Foods Market size is expected to be worth around USD 678.3 Billion by 2032 from USD 306.2 Billion in 2023. Growing at a CAGR of 8.5% during the forecast period from 2022 to 2032.
List of Major Companies
These are the top ten companies operating in the Food and Nutrition Market:
Nestle
Company Overview
| Establishment Year | 1866 |
| Headquarter | Vevey, Switzerland |
| Key Management | Ulf Mark Schneider (CEO) |
| Revenue (US$ Bn) | $ 103.5 Billion (2022) |
| Headcount | ~ 270,000 (2023) |
| Website | https://www.nestle.com/ |
About Nestlé
Nestlé S.A., a leading player in the food and nutrition sector, is reinforcing its market position through strategic investments and innovations.
Recently, the company disclosed plans to inject ₹5,000 crores into India, aiming to construct new factories and research centers to fuel growth in diverse categories and generate employment opportunities.
This mirrors Nestlé’s focus on leveraging emerging market demand. Additionally, Nestlé is committing £7 million to a novel plastic recycling facility in the UK. Addressing recycling challenges and reducing environmental impact.
Furthermore, the introduction of the Vital Pursuit brand in the US targets individuals using weight loss medications, broadening Nestlé’s product range.
These endeavors underscore Nestlé’s commitment to sustainability and innovation in the food and nutrition sector.
Geographical Presence
Nestlé S.A. is a global leader in the food and beverage industry. Boasts a vast geographical presence spanning over 180 countries across the globe.
With headquarters in North America, Europe, and Asia, Nestlé strategically caters to diverse consumer markets worldwide.
Its extensive product portfolio, ranging from coffee and confectionery to nutrition and healthcare offerings, addresses the unique preferences of consumers in each region.
In Latin America and Africa, Nestlé has also made significant inroads. Leveraging its expertise to meet the evolving needs of consumers.
Through strategic investments and partnerships, Nestlé remains poised to capitalize on growth opportunities across diverse regions, ensuring its continued success in the global marketplace.
Recent Developments
- In May 2024, Nestlé revealed its intention to introduce Vital Pursuit, a fresh frozen-food brand.
- In May 2024, Nestlé launched a new Aero Strawberry bar.
Herbalife
Company Overview
| Establishment Year | 1980 |
| Headquarter | Los Angeles, California, United States |
| Key Management | Michael O. Johnson (Chairman & CEO) |
| Revenue (US$ Bn) | $ 5.2 B (2022) |
| Headcount | ~ 10,100 (2022) |
| Website | http://herbalife.com/ |
About Herbalife
Herbalife Nutrition, a global leader in health and wellness, has been actively expanding its footprint and enhancing its product offerings in the food and nutrition sector.
Recently, the company announced a $400 million investment in a digital transformation initiative called Herbalife One, aimed at improving customer experience and operational efficiency.
Additionally, Herbalife launched the Herbalife® GLP-1 Nutrition Companion, designed to support individuals on weight loss medications.
The company also completed a $1.6 billion refinancing, which included $1.2 billion in senior secured debt and a $400 million revolver, to strengthen its financial position.
Herbalife’s focus on sustainability is evident, as two of its laboratories earned My Green Lab Certification, highlighting their commitment to environmental responsibility.
Geographical Presence
Herbalife Nutrition, a global wellness leader, maintains a vast geographical presence spanning over 90 countries across six continents.
With a strategic focus on key markets in the Americas, Europe, Asia-Pacific, Africa, and the Middle East, Herbalife has established itself as a formidable force in the nutrition industry.
Leveraging a robust network of distributors and retailers, Herbalife reaches diverse consumer demographics, from urban centers to remote regions.
Its expansion into emerging markets underscores the company’s commitment to delivering high-quality nutritional products and fostering healthy lifestyles worldwide. Positioning Herbalife as a trusted brand in the global wellness landscape.
Recent Developments
- In March 2023, Herbalife achieved its target of raising $1.5 million during its annual Gala fundraiser. This funding supports 178 organizations across 59 countries through the “Casa Herbalife” initiative, aimed at enhancing the health and well-being of children and families globally.
- In August 2022, Herbalife Nutrition launched Herbalife One, a digital transformation initiative that introduced a unified platform for distributors and customers globally, simplifying their interactions.
General-Mills
Company Overview
| Establishment Year | 1856 |
| Headquarter | Golden Valley, Minnesota, U.S. |
| Key Management | Jeffrey Harmening (Chairman & CEO) |
| Revenue (US$ Bn) | $ 24.1 Billion (2022) |
| Headcount | ~ 34,000 (2022) |
| Website | http://www.generalmills.com/ |
About General Mills
General Mills, a major player in the food and nutrition sector, is focused on growth through strategic acquisitions and product innovation.
Recently, it acquired Tyson Foods’ pet treats business for $1.2 billion, strengthening its presence in the thriving pet food market.
This aligns with General Mills’ Accelerate strategy, emphasizing brand development, continuous innovation, and leveraging scale for sustainable growth.
In terms of product innovation, General Mills has expanded its Betty Crocker line and introduced new offerings like keto-friendly granola.
They’ve also launched cereal collaborations with popular franchises like LOL Surprise Dolls and Jurassic World Dominion.
Additionally, the company is investing in digital infrastructure to enhance e-commerce and supply chain efficiency, ensuring long-term profitability and competitiveness.
Geographical Presence
General Mills, headquartered in Minneapolis, Minnesota, has a strong global presence, operating across North America, Europe, Latin America, and Asia-Pacific.
It leads in various food categories in its home markets of the United States and Canada. Utilizing extensive distribution networks and recognizable brands.
In international markets like Europe, Latin America, and Asia-Pacific, General Mills strategically tailors its diverse food portfolio to local tastes and market conditions.
Through acquisitions, partnerships, and focused marketing, General Mills steadily expands its market share and drives growth globally.
Recent Development
- In April 2024, General Mills acquired Edgard & Cooper.
- In April 2024, General Mills launched a new breakfast Wheaties Protein.
Kraft-Heinz
Company Overview
| Establishment Year | 2015 |
| Headquarter | Pittsburgh, Pennsylvania, U.S. |
| Key Management | Miguel Patricio (Chairman) |
| Revenue (US$ Bn) | $ 26.6 Billion (2023) |
| Headcount | ~ 36,000 (2023) |
| Website | https://kraftheinzcompany.com/ |
About Kraft Heinz
Kraft Heinz continues to innovate and expand in the food and nutrition sector through strategic initiatives and new product launches.
Recently, the company introduced its first-ever plant-based products under the Oscar Mayer brand, including NotHotDogs and NotSausages, targeting the growing plant-based market.
This launch is part of a joint venture with NotCo, leveraging AI technology to enhance product development.
Additionally, Kraft Heinz has rolled out new product lines like Pure J.L. KRAFT Dressings & Marinades and expanded its classic offerings with innovations such as VELVEETA ready-to-eat queso.
The company is also focusing on sustainability, with significant investments aimed at reducing carbon emissions across its U.S. plants by over 99%.
Geographical Presence
Kraft Heinz boasts a formidable global presence, spanning North America, Europe, Latin America, Asia-Pacific, and the Middle East.
In North America, the company’s iconic brands like Kraft Mac & Cheese and Heinz Ketchup dominate grocery shelves.
In Europe, strategic acquisitions bolster Kraft Heinz’s reach, while in Latin America, tailored products cater to local tastes.
The company taps into the growing demand in the Asia-Pacific region with innovative offerings, and in the Middle East, it adapts its portfolio to diverse culinary preferences.
Overall, Kraft Heinz’s expansive footprint underscores its status as a global leader committed to meeting the diverse needs of consumers worldwide.
Recent Development
- In May 2024, Kraft Heinz introduced Pure J.L. KRAFT.
- In May 2024, Kraft Heinz announced its plans to sell its Oscar Mayer brand.
Glanbia
Company Overview
| Establishment Year | 1997 |
| Headquarter | Kilkenny, Ireland |
| Key Management | Henry Corbally (Chairman) |
| Revenue (US$ Bn) | $6.0 B (2022) |
| Headcount | ~ 6,163 (2022) |
| Website | http://www.glanbia.com/ |
About Glanbia
Glanbia plc, a leading global nutrition company, has been actively expanding its operations and product offerings in the food and nutrition sector.
Recently, Glanbia acquired Flavor Producers LLC for an initial $300 million, enhancing its flavor and ingredient capabilities.
Additionally, Glanbia finalized the sale of its joint venture, Glanbia Cheese, to Leprino Foods, allowing the company to focus more on its core nutrition business.
On the product innovation front, Glanbia has launched several new offerings, including FerriUp™, a whey protein concentrate enriched with lactoferrin and vitamin B12, targeting active women.
The company also continues to lead in the plant-based nutrition market with new yogurt products and high-protein solutions.
Geographical Presence
Glanbia plc has established a formidable geographical presence across North America, Europe, the Middle East, Africa, and Asia-Pacific.
With a strong focus on key markets such as the United States, Canada, and Europe, as well as emerging regions like Asia-Pacific, Glanbia strategically positions itself to tap into diverse consumer preferences and regulatory landscapes.
Leveraging local manufacturing facilities and distribution networks, the company caters to the growing demand for nutrition and wellness products worldwide.
This expansive global footprint underscores Glanbia’s commitment to driving innovation and delivering value to consumers across continents.
Recent Developments
- In April 2024, Glanbia announced its plans to acquire Flavor Producers LLC.
- In March 2024, Glanbia introduced a new thing! MINIS Protein Snack Bars in seven flavors.
Cargill
Company Overview
| Establishment Year | 1865 |
| Headquarter | Minnetonka, Minnesota, U.S. |
| Key Management | Brian Sikes (Chairman and CEO) |
| Revenue (US$ Bn) | $ 165 Billion (2022) |
| Headcount | ~ 155,000 (2023) |
| Website | http://www.cargill.com/ |
About Cargill
Recently, Cargill, a leading player in the food and nutrition sector, has been expanding and innovating. In 2024, they launched REVEAL™ Layers, a revolutionary technology using Near InfraRed (NIR) light to monitor poultry health, boosting egg production efficiency.
Besides, Cargill has diversified its protein investments, acquiring meat processing plants in the US and investing in cultivated meat startups like Aleph Farms and Wildtype.
Through a joint venture with Continental Grain, Cargill acquired Sanderson Farms, forming Wayne-Sanderson Farms to strengthen its US poultry market position. Sustainability remains a top priority, with ongoing efforts to implement eco-friendly practices globally.
Geographical Presence
Cargill Incorporated, a prominent player in the food and agriculture sector, boasts a widespread geographical presence across multiple continents.
With its origins dating back to 1865 in the United States, Cargill has strategically expanded its operations worldwide.
In North America, the company maintains a robust network of production facilities and offices, serving customers throughout the United States, Canada, and Mexico.
Across Europe, Asia-Pacific, and Latin America, Cargill has established significant footholds in key markets, including the United Kingdom, China, Brazil, and Argentina, among others.
This global reach underscores Cargill’s commitment to meeting the diverse needs of the food and agriculture industry on an international scale.
Recent Developments
- In April 2024, Cargill signed an agreement with CHS Inc. to sell eight-grain assets.
- In April 2024, Cargill partnered with Voyage Foods to boost the production and distribution of cocoa alternatives.
Mondelez
Company Overview
| Establishment Year | 1923 |
| Headquarter | Chicago, Illinois, U.S. |
| Key Management | Dirk Van de Put (CEO) |
| Revenue (US$ Bn) | $ 36.02 Billion (2023) |
| Headcount | ~ 91,000 (2023) |
| Website | http://mondelezinternational.com/ |
About Mondelez
Mondelez International, Inc. is bolstering its position in the food and nutrition sector through strategic acquisitions and innovations.
Recent endeavors include acquiring Chipita Global S.A., a prominent name in croissants and baked snacks, to enhance its presence in Europe and emerging markets.
Additionally, the company acquired Clif Bar & Co. for around $2.9 billion, expanding its reach in the health and nutrition bar category.
Another significant acquisition is Ricolino, a Mexican confectionery company, which effectively doubled Mondelez’s footprint in Mexico, a pivotal market in Latin America.
These actions align with Mondelez’s strategy to target growth-enhancing assets and address portfolio gaps, reinforcing its leadership in the global snack industry.
Geographical Presence
Mondelez International, Inc. boasts a robust global presence, strategically positioning itself in key markets across North America, Europe, Asia Pacific, and Latin America to maximize consumer reach.
With renowned brands like Oreo and Cadbury, the company holds significant market share and brand recognition in the United States, Canada, and Europe.
In emerging markets like China and India, Mondelez meets increasing demand for snacks and confectionery by tailoring products to local tastes while maintaining global brand consistency.
Through extensive distribution networks and targeted expansion efforts, Mondelez maintains its competitive edge and drives growth in the consumer goods industry.
Recent Developments
- In May 2024, Mondelez International, Inc. announced its plans to launch its Chips Ahoy! Cookie.
- In January 2022, Mondelēz finalized the acquisition of Chipita Global S.A., a top player in the rapidly growing croissants and baked snacks sector in Central and Eastern Europe.
Archer-Daniels
Company Overview
| Establishment Year | 1902 |
| Headquarter | Chicago, Illinois, U.S. |
| Key Management | Juan Luciano (Chairman and CEO) |
| Revenue (US$ Bn) | $ 101.6 Billion (2022) |
| Headcount | ~ 42,001 (2022) |
| Website | http://adm.com/ |
About Archer Daniels
ADM (Archer Daniels Midland Company) has recently bolstered its presence in the food and nutrition sector through strategic acquisitions and product launches.
The acquisition of Deerland Probiotics & Enzymes expands ADM’s portfolio in health and wellness products, aligning with its focus on probiotics, prebiotics, and enzyme technology for applications like digestive and immune health.
ADM’s Carbohydrate Solutions segment saw robust financial performance due to increased pricing and strong ethanol export demand.
These initiatives highlight ADM’s dedication to delivering innovative and sustainable solutions in the nutrition industry.
Geographical Presence
ADM, a leading global player in agricultural processing and food ingredients, maintains a strong presence across North America, South America, Europe, Asia Pacific, and Africa.
Based in Chicago, Illinois, ADM operates facilities in the United States, Canada, Brazil, Argentina, the UK, Germany, France, the Netherlands, China, India, Japan, Singapore, Morocco, South Africa, and Egypt.
This extensive network allows ADM to effectively serve customers worldwide with vital agricultural products and food solutions.
Recent Developments
- In May 2024, ADM partnered with Voltloader to introduce an electric vehicle trial program for transporting wheat.
- In April 2024, ADM and Solugen teamed up to establish a new bio-manufacturing facility in Marshall, Minnesota, USA.
DuPont
Company Overview
| Establishment Year | 1802 |
| Headquarter | Wilmington, Delaware, USA |
| Key Management | Edward D. Breen (Executive Chairman & CEO) |
| Revenue (US$ Bn) | $ 12.1 Billion (2023) |
| Headcount | ~ 23,000 (2023) |
| Website | http://www.dupont.com/ |
About DuPont
DuPont continues to innovate and expand in the food and nutrition sector through strategic acquisitions and product advancements.
Recently, DuPont announced the acquisition of Spectrum Plastics Group for $1.75 billion. Enhancing its capabilities in biopharma and medical device manufacturing. Which complements its existing healthcare portfolio, including Liveo™ silicone solutions and Tyvek® medical packaging.
Additionally, DuPont completed the acquisition of Laird Performance Materials, strengthening its position in advanced electronics applications.
These acquisitions support DuPont’s strategy to provide innovative materials and solutions in high-growth markets, ensuring long-term value creation and expansion into new sectors.
Geographical Presence
DuPont, a multinational conglomerate with headquarters in Wilmington, Delaware, has established a formidable geographical presence across North America, Europe, Asia-Pacific, Latin America, and the Middle East.
With manufacturing facilities, research centers, and strategic partnerships worldwide, DuPont strategically positions itself to serve diverse markets and capitalize on emerging opportunities.
From addressing evolving market needs in Europe to tapping into the burgeoning markets of Asia-Pacific and strengthening its foothold in Latin America and the Middle East, DuPont remains committed to driving innovation, sustainability, and value for customers globally.
Recent Developments
- In September 2023, DuPont opened a new adhesives manufacturing facility in Zhangjiagang, East China, targeting customers in the transportation sector.
- In May 2023, DuPont finalized an agreement to purchase Spectrum Plastics Group from AEA Investors.
Mars
Company Overview
| Establishment Year | 1911 |
| Headquarter | McLean, Virginia, U.S. |
| Key Management | Poul Weihrauch (CEO) |
| Revenue (US$ Bn) | $ 47.0 Billion (2023) |
| Headcount | ~ 140,000 (2023) |
| Website | https://www.mars.com/ |
About Mars
Mars Inc., a global leader in the food and nutrition sector, recently expanded its portfolio by acquiring Champion Petfoods, renowned for its ORIJEN and ACANA brands.
This strategic move bolsters Mars’ presence in the pet nutrition market. Aligning with its goal of diversification and meeting the rising demand for premium pet food.
Simultaneously, Mars continues to innovate within its confectionery and snack lines. Introducing new products under brands like M&M’s and Snickers to address evolving consumer preferences.
These initiatives underscore Mars’ commitment to offering nutritious and enjoyable products while driving sustainable growth in the food and nutrition industry.
Geographical Presence
Mars, Incorporated, renowned for its confectionery, pet care, and food products, operates in over 80 countries globally, spanning North America, Europe, Asia-Pacific, Latin America, and Africa.
With headquarters in McLean, Virginia, USA, Mars holds a strong position in North America, featuring popular brands like M&M’s and Snickers.
In Europe, it maintains significant operations in countries such as the UK, Germany, and France. Mars strategically expands its footprint in the Asia-Pacific region, focusing on markets like China and India.
Latin America and Africa also represent key areas of growth for the company as it navigates diverse consumer preferences and market dynamics to sustain its global leadership in the industry.
Recent Developments
- In January 2024, Mars China introduced a new Snickers bar.
- In November 2023, Mars Inc. partnered with Duraplas to introduce the groundbreaking PolarPad line of condenser pads, aiming to revolutionize the HVAC-R market.
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