Nutraceutical Market

Nutraceutical is a broader term that is used to describe the products derived from food sources and contains extra health benefits. The consumption of these food products helps in preventing and treating various diseases since they have an ample amount of nutrients and medically active food, such as garlic or soybeans. These functional foods also provide health benefits to reduce the risk of chronic diseases and basic nutrition.

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The key drivers that are responsible for the growth of the global nutraceutical market over the forecast period include the increasing application of nutraceuticals for the treatment of malnutrition and cardiovascular disorders, along with the rising cost of healthcare costs and the growing geriatric population across the globe. With the increasing incidences of various diseases, the consumers have shifted towards healthier diet patterns to enhance their immune system. This fundamental shift in the consumer’s eating pattern is encouraging them to opt for different functional food products. Moreover, the accelerating demand for functional food products due to the remarkable advantages offered by these products is further energizing the demand of the market.

The significant shift in the lifestyle of the consumers, followed by continuous innovation in the food industry, is creating innumerable growth opportunities in the market over the next six years. Nutraceuticals ingredients such as natural herbs and antioxidants protect the skin from multiple diseases and infections. Hence, there has been an upsurge in demand for nutraceuticals ingredients in personal care products. In addition to this, with the emergence of the COVID-19 pandemic, the demand for nutraceuticals & functional food products is projected to have strong demand owing to the increasing focus of consumers towards the consumption of immunity-boosting supplements. Furthermore, the sharp fall in demand for meat, poultry, and seafood products across the globe is further paving the way for the growth of the market. However, the rising cost of production of raw materials for nutraceuticals products and the limited manufacturing of quality nutraceuticals are certain factors that will hamper the growth of the nutraceutical market.

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On the basis of product, the functional beverages segment is projected to witness a faster CAGR during the forecast period. Continuous technological upgradation and product development are the significant factors that are surging the demand of the segment. In addition to this, continuous advancements in the production process of novel ingredients to decrease the unpleasant taste of omega-3 fatty acids and amino acids is further boosting the segment’s demand. Sports drinks are gaining huge popularity among athletes and individuals who are regularly involved in physical activities. The target consumers of the sports drink market are millennials who are willing to pay for healthier food products. All these factors are energizing the demand of functional beverages around the world.

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Based on the region, the Asia-pacific region is expected to lead the nutraceuticals market in the coming years. The rising health concerns among consumers, along with the increasing awareness related to the various advantages offered by nutraceuticals, are the major factors that are driving the market’s growth in this region. Moreover, the increasing aging population and the fundamental shift in the spending pattern on healthcare products and lifestyle is energizing the growth of the market in the Asia-Pacific countries. Additionally, the expansion in the product portfolio and the rising number of government regulations on the nutraceutical products are further surging the demand of the market. Continuous expansion in the retail market, especially in China, India, Malaysia, and Indonesia, followed by the emerging trend of food fortification with nutraceutical products, is expected to boost the demand of the market. In contrast, the North American region is anticipated to witness faster CAGR owing to the increasing awareness about the benefits related to nutritional diet patterns among the working population, mainly in the U.S. and Canada. Moreover, the high adoption rate of herbal medicines among individuals in the U.S. and Canada due to the rising concerns related to the harmful effects of the pharma drugs is further contributing to the growth of the nutraceuticals market in this region.

Various notable players operating in the market include Danone (Danone S.A), Amway Corporation, Ingredion, Dean Foods, E. I. du Pont de Nemours and Company, Archer Daniels Midland Company, BASF S.A., Cargill, Incorporated, PepsiCo Inc., and General Mills, Inc., among others.

 Key Developments: 

• • In 2020, Ingredion acquired a 75% stake in stevia supplier PureCircle. With this acquisition, Ingredion is focusing on combining its capabilities in product formulation and expand its customer base.
  • In 2018, Amway Corporation launched “Made in India” Nutrilite traditional herbs range. The range is specifically developed using traditional Indian herbs while keeping in mind the nutritional requirement of the Indian consumers.

The Nutraceutical market is segmented into product and regions. Based on the product, the market has been segmented into dietary supplements, functional foods, and functional beverages.

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Key questions answered in this research report:

• • At what pace is global Nutraceutical market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Nutraceutical market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Nutraceutical market?
  • Which Product generated maximum revenues in 2019 and identify the most promising Product during the forecast period?
  • What are the various products of global Nutraceutical market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

Global Nutraceutical Market by Product

• • Dietary Supplements
    • Vitamins
    • Botanicals
    • Minerals
    • Proteins & Amino Acids
    • Fibers & Specialty Carbohydrates
    • Omega Fatty Acids
    • Others
  • Functional Foods
    • Carotenoids
    • Dietary Fibers
    • Fatty Acids
    • Minerals
    • Prebiotics & Probiotics
    • Vitamins
    • Others
  • Functional Beverages
    • Energy Drinks
    • Sports Drinks
    • Functional Juices
    • Others

Global Nutraceutical Market by Region

• • North America Nutraceutical Market (Option 1: As a part of the free 25% customization)
    • North America Nutraceutical Market by Product
    • US Nutraceutical Market All-Up
    • Canada Nutraceutical Market All-Up
  • Europe Nutraceutical Market (Option 2: As a part of the free 25% customization)
    • Europe Nutraceutical Market by Product
    • UK Nutraceutical Market All-Up
    • Germany All-Up Nutraceutical Market All-Up
    • France Nutraceutical Market All-Up
    • Spain Nutraceutical Market All-Up
    • Rest of Europe Nutraceutical Market All-Up
  • Asia-Pacific Nutraceutical Market (Option 3: As a part of the free 25% customization)
    • Asia-Pacific Nutraceutical Market by Product
    • China Nutraceutical Market All-Up
    • India Nutraceutical Market All-Up
    • Japan Nutraceutical Market All-Up
    • Rest of APAC Nutraceutical Market All-Up
  • RoW Nutraceutical Market (Option 4: As a part of the free 25% customization)
    • RoW Nutraceutical Market by Product
    • Brazil Nutraceutical Market All-Up
    • South Africa Nutraceutical Market All-Up
    • Saudi Arabia Nutraceutical Market All-Up
    • UAE Nutraceutical Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Nutraceutical Market All-Up

Major Players Operating the Nutraceutical (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Danone (Danone S.A)
  • Amway Corporation
  • Ingredion
  • Dean Foods
  • I. du Pont de Nemours and Company
  • Archer Daniels Midland Company
  • BASF S.A.
  • Cargill, Incorporated
  • PepsiCo Inc.
  • General Mills, Inc.