Global Nutraceuticals Market Size By Product Type(Functional Beverages, Functional Foods), By Distribution Channel(On Direct Sales or B2B, Indirect Sales or B2C), By Form(Soft-Gels, Liquids, Capsules), By geographic Scope And Forecast

Nutraceuticals Market Size and Forecast

Nutraceuticals Market size was valued at USD 400.6 billion in 2021, it is expected to reach USD 1280.7 billion by the end of 2030, growing at a CAGR of 8.3% from 2023 to 2030.

The increasing awareness of probiotics supplements and dietary supplementary, functional beverages, and functional foods has significantly increased the sales of nutraceuticals. This is the main reason for the growth in Global Nutraceuticals Market. The Global Nutraceuticals Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Nutraceuticals Market Definition

The industry that consists that includes foods and dietary supplements which provide health and medical advantages besides basic nutrition is referred to as the nutraceuticals market. These health advantages of nutraceuticals, which are made from natural food sources, have been proven scientifically confirmed and include the avoidance or treatment of chronic illnesses, enhancement of physical or mental functioning, and encouragement of general well-being.The industry offers an extensive range of goods, such as functional meals, drinks, functional nutrients, herbs, and supplements. The rise in persistent diseases, an aging population, and increasing customer interest in organic and natural goods have all contributed to the nutrients market’s notable recent growth. It is highly competitive and major rivals are spending money on R&D to launch cutting-edge items that can adapt to changing demands of consumers.

Nutraceuticals Market Overview

COVID-19 has increased the demand in the Nutraceuticals Market. Consumers have become more health conscious after the global pandemic due to which this market has witnessed significant growth globally.

Numerous reasons have led to the immense rise of the nutraceuticals industry in the past few decades. The increasing number of cases of long-term illnesses such as diabetes, heart disease, and cancer has raised the requirement for functional nutritional products that can help control or avoid these medical conditions, which constitutes one of the primary drivers of growth. Furthermore, the market for nutraceuticals that may improve both mental and physical health and support good aging has been encouraged by a growing population of elderly people. Expanding consumer interest in organic and natural goods as they desire to remain away from synthetic chemicals and substances is another factor driving development. The variety of available nutraceutical goods, such as personalized nutrition and functional drinks, has risen as a result of technological and scientific advancements.

While the nutraceuticals business has grown significantly, several constraints might prevent its continued growth. The legal environment, which varies by region and may restrict a company’s capacity to advertise and distribute its products, is one of the main constraints. A significant barrier to entry for small businesses could include the substantial cost of research and development necessary for developing and testing newer nutraceutical products. Moreover, reducing demand is due to the lack of common terms and requirements for nutraceuticals, which can confuse customers and cynicism. Besides this, a shortage of raw materials and disruptions in the supply chain could end up in increased costs and dropped accessibility to nutraceutical goods.

Various Growth prospects are available in the nutraceuticals sector. The development of customized nutrition, which integrates data and technology to produce custom nutritional initiatives based on an individual’s specific needs and preferences, is one significant potential. A further possibility is the incorporation of nutraceuticals in animal nutrition, which could boost the health and performance of pets and cattle. Furthermore, the growing acceptance of vegetarian or plant-based diets offers an opportunity for the manufacturing of fresh plant-based nutraceutical goods. Lastly, the growing interest in psychological well-being provides a chance for dietary supplements to encourage positive feelings and memory retention.

Nutraceuticals MarketSegmentation Analysis

The Nutraceutical Market is segmented by product type, distribution channel, form, and region.

Nutraceutical Market, Product Type

• Functional Beverages• Functional Foods• Dietary Supplements

Functional Beverages hold the largest share of the Nutraceutical Market. due to the increasing number of diet-conscious customers, this segment is growing rapidly. Besides this, the functional foods, and dietary supplements segments are also expected to grow in the forecast period.

Nutraceutical Market, By Distribution Channel

• On Direct Sales or B2B• Indirect Sales or B2C• Online Retail

The online retail segment is dominating this segment in the Nutraceutical Market as it holds the largest share. Shopping convenience, low product prices, free shipping, and discount offers are attracting more customers in this segment.

Nutraceutical Market, By Form

• Soft-Gels• Liquids• Capsules• Powder & Granules• Tablets

Capsules and Tablets are gaining more popularity in the Nutraceutical Market. They are the most convenient alternative for consumers and consumers can easily add them to their diet due to which this segment is growing rapidly.

Nutraceutical Market, By Geography

• North America• Europe• Asia Pacific• Latin America• Middle East and Africa

Asia Pacific is leading the global Nutraceutical Market due to the increasing population and disposable income of consumers. Besides this, increasing awareness of the diet of people is also one of the factors that are boosting the growth of the Nutraceutical Market in the Asia Pacific region. In addition, Nutraceutical Market is also expected to grow in North America in the coming years.

Key Players

The key players in the Nutraceutical Market are General Mills Inc., Amway Enterprises, The Natures Bounty Co., Royal DSM NV, Herbalife International Inc., Pepsi Co., Yakult Honsha Co., Ltd., Bayer AG, Groupe Danone, Abbott Laboratories.

These companies are focusing on developing new products to satisfy the unexpected demands of consumers and providing them with high-quality healthy products.

Key Developments

• In June 2021, Herbalife Nutrition announced to launch of “Immunity Essentials” products that include supplements, and vitamins. They can help in supporting the immune health of consumers.
• In February 2021, Nestle Health Science declared to launch the latest personalized nutritional solutions under the brand “Nestle Health Science – Optimal Health”. The products under this brand can meet the extraordinary demand of consumers based on their biomarkers and DNA.

Report Scope

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Reasons to Purchase this Report

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking and SWOT analysis for the major market players• The current as well as future market outlook of the industry with respect to recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes an in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post sales analyst support

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