Although conventional products account for 75% of the share of dollar volume of consumer packaged goods, share of dollar growth at 63% is being dominated by health and wellness products, outpacing that of conventional at 37%.
Source: SPINS’ Natural Enhanced Channel & Conventional Multi-Outlet (powered by IRI) for
the 52 weeks ending December 26, 2021
PRE, PRO + SYNBIOTICS
The global probiotic market is expected to reach US$108.16 billion by 2028, growing at a compound annual growth rate (CAGR) of 8.4%. Already valued at US$61.5 billion, the market's upward growth trajectory can be attributed to immune and digestive health being top wellbeing priorities post-pandemic, in addition to increased preventative health awareness by the everyday consumer. Brands are innovating in synbiotics, a combination of prebiotics and probiotics deemed essential for healthy gut-immune responses.
PERSONAL CARE + BEAUTY
With a global valuation of US$564.44 billion, the beauty and personal care market is expected to grow at a compound annual growth rate (CAGR) of 4.76%. Matching consumer interests and lifestyle patterns of self-care and clean beauty, the personal care segment is the largest of the market at a forecasted volume of US$254 billion in 2022, with most revenue to be generated in the United States at US$87.99 billion. Overall, 25.4% of total global revenue is projected to be generated through e-commerce sales.
SUSTAINABLY GOOD
Having embraced a zero waste mindset, consumers are more conscious of their everyday environmental impact and have become more intentional about their purchasing choices and decisions. Trivium's 2021 Buying Green Report revealed that 67% of consumers seek recyclable packaging for the products they purchase, and fewer than 1 in 3 lessened their prioritization of sustainable packaging during the global pandemic. Amounting a market worth of US$265.9 billion in 2021, the sustainable packaging market is estimated to grow upwards of US$358.3 billion by 2028, with a compound annual growth rate (CAGR) of approximately 5.10%.
