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 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%
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