Global nutraceuticals market was valued at USD 417.66 million in 2020. It is projected to grow at an 8.9% compound annual growth rate (CAGR), from 2020-2028. Global market growth is expected to be driven by the growing demand for functional foods and dietary supplements over the forecast period. The favorable outlook for medical nutrition, due to the growing application scope in treating Cardiovascular Disorders (CVDs), and malnutrition, is expected to drive the dietary supplement market. The global function foods market is expected to grow over the forecast period due to rising healthcare costs and an increasing number of aging people. Functional foods are attracting positive attitudes from consumers, due to their added health and wellbeing benefits.
The market will grow due to the high adoption of herbal medicines around the world, as well as rising concerns about the dangers of traditional pharma drugs. The demand for functional foods and dietary supplements has increased in the wake of the COVID-19 epidemic. Over the last year, immunity-boosting supplements have become mainstream. This has resulted in a significant shift in consumer behavior as well as buying patterns. The overall demand has grown due to the rising geriatric population, rising healthcare costs, changes in lifestyle, food innovation and expectations about higher prices. Due to their many health benefits, dietary fibers as well as minerals will be in high demand. Fibers promote bowel movement and help to cleanse internal organs. Minerals aid in the retention and passage nutrients into cells.
Additionally, people will be more likely to take preventive measures such as dietary supplementation after the COVID-19 epidemic. The overall market growth has been supported by the global pandemic. Due to increasing importance of preventive health care, the U.S. has seen a rise in demand for dietary supplement products over the last few years. Multivitamins are preferred by consumers as they provide the body with essential nutrients. Multivitamins have become an integral part in the diet, and this trend has been accelerated by the pandemic.
The industry can be divided into three product segments: functional beverages, dietary supplements and functional food. With a 47.13% revenue share, the functional food segment led overall market in 2020. It was followed by functional beverages and dietary supplements. Technological advancement, along with product development progress, will drive the dietary supplement market in the future.
Sport drinks have been growing in popularity with athletes and others involved in active physical activities. This market is also driven by the demand for sports drinks from millennials. Prebiotics and probiotics-based functional food segments are expected to see the greatest growth over the forecast period. Due to their promising role in supporting the immune system, the prebiotic and probiotic segments are expected to grow at a 10.7% CAGR between 2020-2028.
Asia Pacific led the global market with a revenue share greater than 31% in 2020. It is expected to grow further at a 10.7% CAGR between 2020 and 2028. The Asia Pacific market is likely to be driven by growing health concerns and increased awareness about nutraceuticals. The market has seen significant growth in Asia Pacific due to a growing geriatric population, increased spending on healthcare products, as well as changing lifestyles. Market growth will also be supported by government regulations.
This market is expected to be a big opportunity due to the increasing use of nutraceutical products for food fortification. The rapid growth in the retail sector of emerging markets like India, Indonesia, Malaysia, Malaysia and China due to regulatory support for investments will increase product accessibility, which is expected to boost overall sales. Consumers are becoming more health-conscious due to rapid urbanization and changing lifestyles. This increases product demand.
International players are a key feature of the competitive landscape. To compete on the market, companies have used acquisitions & mergers as well as new product launches. Companies have been able to increase their product range and improve product quality through acquisitions and mergers. Companies can also introduce new products to the market to provide better quality products that meet changing consumer preferences. The following are some of the major players in the global nutraceuticals industry:
Archer Daniels Midland Company
Royal DSM N.V.
Arkopharma Laboratories S.A.
Bactolac Pharmaceuticals, Inc.
E.I.D Parry Ltd.
Mead Johnson Nutrition Company
The Hain Celestial Group, Inc.
Up Market Research published a new report titled “Nutraceuticals Market research report which is segmented by Product (Functional Beverages, Functional Food, Dietary Supplements), By Players/Companies EID Parry Ltd, General Mills, DuPont, Matsun Nutrition, Herbalife Ltd, The Hain Celestial Group Inc, Archer Daniels Midland Company, Royal DSM NV, Mead Johnson Nutrition Company, Amway Corp, Valensa International, Innophos, Bactolac Pharmaceuticals Inc, Nestle SA, AOR Canada, WR Grace, Danone, Cargill Inc, Arkopharma Laboratories SA, Natrol Inc”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.
|Report Attributes||Report Details|
|Report Title||Nutraceuticals Market Research Report|
|By Product||Functional Beverages, Functional Food, Dietary Supplements|
|By Companies||EID Parry Ltd, General Mills, DuPont, Matsun Nutrition, Herbalife Ltd, The Hain Celestial Group Inc, Archer Daniels Midland Company, Royal DSM NV, Mead Johnson Nutrition Company, Amway Corp, Valensa International, Innophos, Bactolac Pharmaceuticals Inc, Nestle SA, AOR Canada, WR Grace, Danone, Cargill Inc, Arkopharma Laboratories SA, Natrol Inc|
|Regions Covered||North America, Europe, APAC, Latin America, MEA|
|Historical Year||2018 to 2019 (Data from 2010 can be provided as per availability)|
|Number of Pages||241|
|Number of Tables & Figures||169|
|Customization Available||Yes, the report can be customized as per your need.|
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by Product (Functional Beverages, Functional Food, Dietary Supplements).
Nutraceuticals Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
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Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the Nutraceuticals Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
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