homevideos Newsbusiness NewsMad About Markets: Is there enough appetite for healthy food business growth?
Mad About Markets: Is there enough appetite for healthy food business growth?
Health is wealth - this is not just true for us as individuals but also for companies that are seeing the huge business opportunity in this space. To discuss the road ahead for healthy food business, CNBC-TV18 spoke to Shashank Mehta, Founder, and CEO of The Whole Truth Foods; Rahul Jain, Co-Founder and COO of Epigamia; Aditya Bagri Director of Bagrry’s Group; and Suhasini Sampath, Co-Founder of Yoga Bar.
Health is wealth - this is not just true for us as individuals but also for companies that are seeing the huge business opportunity in this space.
The global health and wellness market has grown significantly in the past five to six years. It was close to $770 billion in 2020, and is expected to cross $1,000 billion dollars by 2026. In India, health and wellness is one of the most attractive markets in the food and beverages section. Currently valued at about $10 billion, it is expected to grow three times over the next few years to $30 billion at a compounded annual growth rate of 20 percent plus.
The Indian health and wellness is growing at about 1.5 times the rate of the total packaged food and beverage market now. The packaged food market touched the $88 billion mark in 2020, and is expected to grow at a CAGR of 13 percent to $186 billion by 2026. The headroom for growth from here is also significant, given the low health food penetration in India, at about 11 percent versus, say, 31 percent in USA.
Also we are increasingly seeing this move towards mindful eating-- foods with specific benefits beyond general wellness and nutrition. CNBC-TV18 conducted a poll to find out eating preferences have changed since the pandemic. Over 60 percent of the respondents said they had experienced a change in their eating habits since the pandemic.
To discuss this poll and the road ahead for healthy food business, CNBC-TV18 spoke to Shashank Mehta, Founder, and CEO of The Whole Truth Foods; Rahul Jain, Co-Founder and COO of Epigamia; Aditya Bagri Director of Bagrry’s Group; and Suhasini Sampath, Co-Founder of Yoga Bar.
Watch accompanying video for more.
First Published: Mar 16, 2022 4:46 PM IST
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