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2022

Nutraceuticals Market

Nutraceuticals Market Size, Share, Competitive Landscape and Trend Analysis Report by Type, (Functional Beverage, Functional Food, and Dietary Supplements), Form (Capsules and Tablets, Liquid, Powder, Others), and Sales Channel (Hypermarkets/Supermarkets, Specialty Stores, Pharmacies, and Online Channels): Global Opportunity Analysis and Industry Forecast, 2021-2030

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Author's: Himanshu Vig | Roshan Deshmukh
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The global Nutraceuticals market size was valued at $413.0 billion in 2020, and is projected reach $650.5 billion by 2030, registering a CAGR of 3.9% from 2021 to 2030. The functional food segment led in terms of Nutraceuticals market share in 2020, however, functional beverages are expected to have the highest growth throughout the forecast period.

Nutraceuticals are products that are categorized under food but are also used for medicinal purposes. They are also known as bioceuticals as they are made from food materials and food extracts. There are various types of Nutraceuticals products available in the market that are used for a variety of applications. As these products are considered to be food supplements or additives, they are unregulated in many parts of the world. The demand for Nutraceuticals products is increasing rapidly. The primary reason for the increase in demand for nutraceuticals is the increasing awareness regarding the health benefits with the consumption of nutraceuticals and Nutraceuticals supplements. In addition, increase in participation of athletes in sports at national and international levels is expected to boost the demand for functional beverages. Growing urbanized population, increasing spending on the health related products and growing cardiovascular, chronic, and obesity linked diseases are majorly driving the growth of the functional food market. Functional food are rich sources of omega fatty acid, which helps to maintain the weight and control blood circulation in the body 

Nutraceuticals-Market

Over the last few years, consumer awareness regarding herbal products and food is on the rise. Many consumers are avoiding chemical ingredients in their food, health food, functional food, proteins, and Nutraceuticals products. This demand is mainly increasing in developed regions of North America and Europe as consumers in this region are spending more on natural products compared to consumers in other regions. Newer types of nutraceuticals in the forms of gummies, jellies, and soft gels are being introduced in the market and their adoption is gradually increasing, they are available in a myriad of shapes, sizes, flavors and concentrations. Also, these types of nutraceuticals are also becoming very popular among kids, which is further helping the market to expand. However, the nutraceuticals market is hindered by difficulties that manufacturers face during the manufacturing process. A lot of the times, the extraction of the ingredients that are required to make to nutraceuticals are difficult and the result of the extraction is a very minimal amount of the ingredient thus resulting in very high cost.

Segment review

The global Nutraceuticals market is segmented on the basis of type, form, sales channel, and region. Based on type, the global market is bifurcated into functional beverage, functional food, and dietary supplements. By form, the market is segmented into capsules and tablets, liquid, powder, others. Based on sales channel, the global market is studied across hypermarkets/supermarkets, specialty stores, pharmacies, and online channels. The global Nutraceuticals market is also studied across North America, Europe, Asia-Pacific, and LAMEA.

Nutraceuticals Market
By Type
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The Functional Food segment dominates the global Nutraceuticals market and is expected to retain its dominance throughout the forecast period.

By type, the nutraceuticals market is divided into functional beverages, functional foods, and dietary supplements. Functional foods are the most commonly consumed types of Nutraceuticals products and occupy the largest market share, while the functional beverages are expected to have the highest growth at the end of the forecast period.

Nutraceuticals Market
By Form
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The capsule & tablets segment dominates the global Nutraceuticals market and is expected to retain its dominance throughout the forecast period.

Depending on the form, the nutraceuticals market is divided into capsules and tablets, liquids, powders and others. Capsules and tablets are the most easily available land the most widely consumed forms of nutraceuticals in the market and the others Nutraceuticals products are expected to have the highest CAGR during the forecast period.

Nutraceuticals Market
By Distribution Channel
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The Pharmacy segment dominates the global Nutraceuticals market and is expected to retain its dominance throughout the forecast period.

By sales channel, the nutraceuticals market is divided into hypermarket/supermarket, specialty stores, pharmacies and online channels. Pharmacies are the most popular means of purchase of Nutraceuticals products and the online channels segment is gaining popularity and is expected to have the highest growth.

Nutraceuticals Market
By Region
2030
Asia-pacific 
North America
Europe
LAMEA

The Asia-Pacific segment dominates the global Nutraceuticals market and is expected to retain its dominance throughout the forecast period.

The report focuses on the Nutraceuticals market growth prospects, restraints, and opportunities of the global Nutraceuticals market. The study provides Porter’s five forces analysis to understand the impact of various factors such as competitive intensity of competitors, bargaining power of suppliers, threat of substitutes, threat of new entrants, and bargaining power of buyers of the Nutraceuticals market.

Some of the major players profiled for in the Nutraceuticals market analysis Archer Daniels Midland Company, BASF SE, Cargill, Inc., Danone, DuPont de Nemours, Inc., General Mills Inc., Koninklijke DSM N.V., Nestle S.A., PepsiCo, Inc., and Yakult Honsha Co., Ltd.

Covid-19 Impact Analysis

  • Nutraceuticals industry was highly positively impacted by the pandemic owing to increase in demand for healthy nutritional products and supplements.
  • Preventive measures taken against the pandemic in the form of consumption of Vitamin D, Vitamin C, Zinc, sodium, minerals and healthy and functional food and beverages led to a rapid increase in sales of such types of Nutraceuticals products.
  • This increase in sales is expect do to continue in the post COVID scenario due to the persistent consumer inclination toward health and wellbeing caused by the pandemic.
  • Greater demand for natural, organic and herbal products will be observed to get the best products possible in order to remain healthy.

Key Benefits For Stakeholders

  • The report provides an extensive analysis of the current and emerging Nutraceuticals market trends and opportunities.
  • The report provides detailed qualitative and quantitative analysis of the current trends and future estimations that help evaluate the prevailing Nutraceuticals market opportunities in the market.
  • The Nutraceuticals market forecast is offered along with information related to key drivers, restraints, and opportunities.
  • The market analysis is conducted by following key product positioning and monitoring the top competitors within the market framework.
  • The report provides extensive qualitative insights on the potential and niche segments or regions exhibiting favorable growth.

Nutraceuticals Market Report Highlights

Aspects Details
Nutraceuticals Market By Type
By Type
  • Functional Beverage
    • Energy and Sports Drinks-
    • Functional Juices -
    • Others-
  • Functional Food
    • Probiotics-
    • Minerals-
    • Proteins & Amino Acids-
    • Prebiotics, & Dietary Fibers-
    • Vitamins-
    • Others-
  • Dietary Supplement
    • Vitamins-
    • Botanicals-
    • Minerals-
    • Proteins & Amino Acids-
    • Fibers & Specialty Carbohydrates-
    • Omega Fatty Acids-
    • Others-
Nutraceuticals Market By Form
By Form
  • Capsule and Tablets
  • Liquid
  • Powder
  • Others
Nutraceuticals Market By Sales Channel
By Sales Channel
  • Hypermarket/Supermarket
  • Specialty Stores
  • Pharmacy
  • Online Channels
Nutraceuticals Market By Region
By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (UK, Germany, Italy, France, Spain, Rest of Europe)
  • Asia-Pacific  (China, Japan, India, Australia, South Korea, Rest of Asia-Pacific)
  • LAMEA  (Brazil, Argentina, Saudi Arabia, United Arab Emirates, South Africa, Rest of LAMEA)

Analyst Review

The 21st century has seen a rapid increase in the business and severity of the lifestyle led by the people, especially the office going people that make up the majority of the world population. This has led to numerous health problems and complications as people cannot devote enough time towards healthy eating habits and exercise. However, there has been an increase in the awareness regarding such problems, and consumers are now adopting healthy practices like exercising and adoption of nutraceuticals.

Depending on the strength and the potency of the ingredients in the nutraceutical products, they can be consumed either daily or a few times a week. Most of the nutraceutical products available in the market are focused one or two aspects of health, such as vitamins and minerals or proteins and amino acids. Some nutraceutical can be paired with other kinds of healthy foods, like addition of powdered or liquid nutraceutical products in juices or smoothies. It can also enhance the taste of these foods as most of the nutraceutical products in the market are available in a myriad of flavors. As these nutraceutical products are made from food material, they are considered safe for consumption and are not classified under pharmaceutical products. Most of the countries in the world do not regulate nutraceuticals heavily, so they are available easily.

Increasing number of consumers that are adopting organic diets are propelling the engaged stakeholders in the nutraceutical market to focus on using organic and herbal ingredients for the production of their nutraceuticals, especially in the Asia-Pacific region which has a culture of herbal and Ayurvedic medicine. Furthermore, there is also an increase in demand for vegan nutraceutical products as the trend of veganism is also on the rise. Rapid increase in sales of nutraceuticals via online channels in also expected in the future.

Author Name(s) : Himanshu Vig | Roshan Deshmukh
Frequently Asked Questions?

$5770 is the total market value of nutraceuticals market report

3.9% is the CAGR of nutraceuticals market.

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2030 would be the forecast period in the market report

Some of the major players profiled for in the Nutraceuticals market analysis Archer Daniels Midland Company, BASF SE, Cargill, Inc., Danone, DuPont de Nemours, Inc., General Mills Inc.

The global Nutraceuticals market is segmented on the basis of type, form, sales channel, and region.

Growth rate of emerging countries is 7.5%.

Increase in sales is expect do to continue in the post COVID scenario due to the persistent consumer inclination toward health and wellbeing caused by the pandemic

By Region, Asia-Pacific will dominate the market by the end of 2030

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Nutraceuticals Market

Global Opportunity Analysis and Industry Forecast, 2021-2030