Nutraceuticals Market Overview:
Global nutraceuticals market size is expected to reach $302,306 million by 2022 from $184,092 million in 2015 with a CAGR of 7.04% from 2016 to 2022. The global nutraceuticals product market holds a substantial scope for growth; however, its contribution to the global market is projected to increase significantly within the next six years. Nutraceuticals are versatile in nature as they are used in numerous industries such as pharmaceutical food & beverages, animal feed additives, and personal care. Recent innovations and findings of function-specific antioxidants are expected to create new opportunities in this booming sector. Nutraceutical products are the necessity of the modern world. The market is poised to witness significant growth during the forecast period, owing to the increase in demand for preventive healthcare and rise in medical treatment, which stimulates the demand for nutraceuticals-containing products. However, high investment for R&D is expected to hamper the market growth.
Emerging innovations in this sector, which include novel Neem Extract and Purple corn, are the sources with more antioxidants than others. Developing economies are oriented toward preventive health care; hence, the demand for nutraceutical product increases significantly. In future, functional food & beverages industries are anticipated to use antioxidants in excess. These are expected to contribute to the market growth.
The market is bifurcated based on type and geography. By type, nutraceuticals product market is divided into four types, namely, functional food, functional beverages, dietary supplements, and personal care. Functional food is further sub-segmented into probiotics fortified food, omega fatty acid fortified food, branded ionized salt, branded wheat flour market, and other functional food. Functional beverages are further segmented into fruit & vegetable juices and drinks, dairy & dairy alternative drinks, noncarbonated drinks (bottled water, tea, and coffee), and other (herbal tea, sports drinks, and energy drinks). In addition, dietary components comprise proteins & peptides, vitamins & minerals, herbals (Ayurveda extracts, plant extracts, algal extracts, and phytochemicals), and others (fatty acids and fiber). By geography, the market is segmented into North America, Europe, Asia-Pacific, and LAMEA.
LAMEA region comprises of Latin America, Middle East, and Africa. High demand for electricity in the developing economies, such as Brazil and Middle-Eastern countries (Iran and Saudi Arabia) is the key growth factor for the nutraceuticals market. The nutraceuticals market in LAMEA is expected to grow at a CAGR of 7.39% between 2016 and 2022.
The nutraceuticals market in Africa accounted for $2,527 million in 2014 and is anticipated to garner $4,815 million in 2022 expanding at a CAGR of 7.77% between 2016 and 2022.
Africa Nutraceuticals Market Size, 2014-2022 ($Million)
Top Investment Pockets:
The demand for functional foods and beverages has increased significantly in the past few years, due to the increase in the cost of medical treatment. The global nutraceuticals product market is lucrative; especially for omega-3 fatty acid fortified food and herbal extract nutraceutical types. Nutraceutical food products such as edible oil contain omega-3-fatty acid, which prevents the hardening of arteries. Therefore, the market is at its booming stage.
Cosmeceuticals are personal care products that contain skin care properties. These products contain nutraceuticals such as vitamins and antioxidants, which helps keep the skin infection free and healthy. Hence, the increase in demand for antioxidants and vitamins are expected to create new opportunities.
Nutraceuticals Market - Top Investment Pockets
Nutraceuticals food or ingredients have health and medical benefits. Nutraceuticals can find applications in personal care segment, owing to their multiple advantages. Owing to the anti-aging property, the integration of nutraceutical with personal care is branched into "Cosmeceutical". Nutraceutical ingredients such as natural herbs and antioxidants protect the skin from multiple diseases and infections. Therefore, the demand of nutraceutical ingredients is increasing rapidly in personal care products. Many people die due to heart disease every year. For instance, in Ukraine, nearly 896 people died per 100,000 people in 2014. Omega-3 fatty acid is the most effective nutraceutical type against hardening of heart arteries. Hence, the increase in demand for nutraceuticals in dietary supplement industry drives the market growth. Many developed nations such as U.S. and Norway have propelled the nutraceuticals market with huge investments in healthcare sectors.
Cost of production of raw materials for nutraceuticals product has increased substantially, which restricts consumers to avail such features. The limited manufacturing of quality nutraceutical increases the demand than its supply. Moreover, the lab-to-market pipeline for such products is usually time consuming. This is one of the key factors that adds to the cost of production. Hence, high R&D cost is expected to restrain the market.
Top Winning Strategy:
Leading players in the global nutraceuticals market have adopted various strategies gathered from press releases, annual reports, and primary calls made to industry experts to achieve additional market share. Key strategies adopted by these players include product launches, joint ventures, acquisitions, partnership, expansion, collaboration, and investments.
Nutraceuticals Market - Top Winning Strategies Split, 2013-2016 (%)
The key market players include Archer Daniels Midland Company, Cargill, Incorporated, Royal DSM N.V., BASF SE, Nestle S.A., Groupe Danone S.A., E. I. du Pont de Nemours and Company, PepsiCo Inc., Aland (Jiangsu) Nutraceutical Co., Ltd., and General Mills, Inc.
Other key players (not profiled in the report) in the market value chain include Blytheco, Gamajet, Pharmachem Laboratories, Balchem Corp, Alpha Packaging, Aker BioMarine, Barrington Nutritionals, Premier Nutraceutical Pvt Ltd, Sydler India, and Marlyn Nutraceuticals.
NUTRACEUTICLAS MARKET KEY BENEFITS:
- The nutraceuticals market research provides a quantitative and qualitative analysis of the current market trends and estimations through 2014‐2022, which assist in identifying the prevailing market opportunities in different segments.
- Market trends of major countries in each region are mapped according to the estimated market revenue.
- Top investment pockets, which highlight the opportunity in the most lucrative product segment is a part of the study.
- Focused study of the factors that drive and restrict the growth of nutraceuticals market is provided.
- Key manufactures of power transformers are profiled and their recent developments are listed.
NUTRACEUTICALS MARKET KEY SEGMENTS:
- Functional Food
- Probiotics Fortified Food
- Omega Fatty Acid Fortified Food
- Branded Ionized Salt
- Branded Wheat Flour Market
- Other Functional Food
- Functional Beverages
- Fruit & Vegetable Juices and Drinks
- Dairy & Dairy Alternative Drinks
- Noncarbonated Drinks (Bottled Water, Tea, and Coffee)
- Other (Herbal Tea, Sports Drinks, and Energy Drinks)
- Dietary Supplements
- Proteins & Peptides
- Vitamins & Minerals
- Herbals (Ayurveda Extracts, Plant Extracts, Algal Extracts, Phytochemicals)
- Others (Fatty Acids and Fiber).
- Personal Care
- North America
- Rest of North America
- Rest of Europe
- Rest of Asia-Pacific
- Latin America
- Middle East