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Nutraceutical Products Market Size, Industry Analysis Report By Products (Dietary supplements, Functional foods, Functional beverages), By Source (Probiotics, Phytochemicals, Proteins, Minerals, Vitamins, Omega-3 fatty acids, Fibres), By Distribution Channel (Conventional stores, Specialty stores, Retail pharmacies) & Region – Forecast

  • PUBLISHED ON
  • 2024-10-03
  • NO OF PAGES
  • 224
  • CATEGORY
  • Food & Beverages
The Nutraceutical Products Market: Overview
The Nutraceutical Products Market is valued at around USD 413.0 billion in 2022 and is expected to reach USD 650.5 billion by 2030, registering a CAGR of 3.9% over the forecast period. Functional foods called nutraceuticals provide physiological advantages and guard against chronic illnesses. When compared to the majority of healthcare and pharmaceutical items, which are, on the other hand, discovered to be less effective, their capacity to suit the entire dietary and supplemental wants is what makes them so highly popular. Additionally, the modern consumer is more inclined to use nutraceutical items to fulfil his or her nutritional demands because of the increased prevalence of chronic diseases and sedentary lifestyles. The nutraceutical goods market is anticipated to experience an outstanding growth rate in the age of quick solutions and ongoing time constraints.

The Nutraceutical Products Market - Growth Factor
The rising incidence of chronic diseases, including diabetes, high cholesterol, and obesity, among others, can be linked to the significant rise of the nutraceutical industry. The expansion of nutraceutical goods is also influenced by the ageing population and the rising demand for pharmaceutical alternatives. The need for portable snacks fortified with nutritional ingredients and rising consumer awareness of fitness and health are both factors driving the growth of the market for nutraceutical products. The market for nutraceutical goods is expanding as a result of a variety of nutraceuticals that have demonstrated considerable advantages in ailments linked to oxidative stress, such as allergy, cardiovascular disease, eye issues, Alzheimer's disease, obesity, and Parkinson's disease. The market for dietary supplements, however, lacks product restrictions and is mostly unregulated. As a result, many products that are known to have negative side effects on the human body are advertised. The market for nutraceutical goods may be negatively impacted by these unfavourable outcomes.

The Nutraceutical Products Market – Market Trends
• Consumers are now more aware of the advantages of the foods they eat thanks to growing health consciousness.
• Manufacturers are being driven to concentrate on providing nutrient-rich products in developed economies due to the rising prevalence of chronic illnesses among the growing geriatric populations, which is assisting the market expansion for nutraceutical items.
• Since the efficacy of these products varies greatly, the product life cycle of nutraceutical products has been divided into the product life cycles of the many product forms that are offered on the market.
• Gummies, bars, and snacks are anticipated to be in the infancy stage, but because of their significant market appeal, they are anticipated to record the highest CAGR. The segment's expansion is being fuelled by factors like appealing labelling, competitive pricing, and availability in a variety of flavours.

The Nutraceutical Products Market – Segmentation
The Nutraceutical Products Market fragrance concentrates market has been sub-classified into products, source, distribution channel.

On the basis of products, the Nutraceutical Products Market is bifurcated into:
• Dietary supplements – Liquid, Powder, Tablets
• Functional foods
• Functional beverages- energy drinks, sports drinks, others
• others

On the basis of source, the market is segmented into:
• Probiotics
• Phytochemicals
• Proteins
• Minerals
• Vitamins
• Omega-3 fatty acids
• Fibres
• others

On the basis of distribution channel, the market is segmented into:
• Conventional stores
• Specialty stores
• Retail pharmacies
• others

The Nutraceutical Products Market –Regional Analysis
Asia-Pacific dominated the global Service Robotics Market, due to the prevalence of cancer being high due to lifestyle conditions, the presence of major market participants, the ongoing modernization and growth of the health care infrastructure, and the well-established health care infrastructure.

The Nutraceutical Products Market – Key Market players
Global key players of Nutraceutical Products Market include Archer Daniels Midland Company, General Mills, Inc., I. du Pont de Nemours and Company, Aland (Jiangsu) Nutraceutical Co., Ltd., BASF SE, Cargill, Incorporated, Royal DSM N.V., Groupe Danone S.A., Nestle S.A., PepsiCo Inc., and others.

Report scope
Global Nutraceutical Products Market: Historical Years- 2018-2021
Global Nutraceutical Products Market: Forecast Years- 2022-2030
Global Nutraceutical Products Market 2022- USD 413.0 billion
Global Nutraceutical Products Market 2030- USD 650.5 billion
Global Nutraceutical Products Market CAGR- 3.9%

Quality Assurance Process

  1. We Market Research’s Quality Assurance program strives to deliver superior value to our clients.

We Market Research senior executive is assigned to each consulting engagement and works closely with the project team to deliver as per the clients expectations.

Market Research Process




We Market Research monitors 3 important attributes during the QA process- Cost, Schedule & Quality. We believe them as a critical benchmark in achieving a project’s success.

To mitigate risks that can impact project success, we deploy the follow project delivery best practices:
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  • Assign a senior SR executive as QA Executive
  • Conduct internal editorial & quality reviews of project deliverables
  • Certify project staff in SR methodologies & standards
  • Monitor client satisfaction
  • Monitor realized value post-project

Case Study- Automotive Sector

One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached We Market Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).

Solution

The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research

The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.

Market Estimates and Forecast

In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.

Case Study- ICT Sector

Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.


Business Solution

An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.


Conclusion

The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.


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