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A recent report published by Infinium Global Research on nutraceuticals market provides in-depth analysis of segments and sub-segments in the global as well as regional nutraceuticals market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional nutraceuticals market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global nutraceuticals market.
Nutraceuticals involve diverse products derived from food sources, offering supplementary health benefits beyond basic nutritional value. Functioning as non-specific biological remedies, nutraceuticals play a crucial role in enhancing overall health, managing symptoms, and even preventing various health issues, including cancer. The term broadly encompasses products originating from natural sources, emphasizing their connection to improved well-being. Classification of nutraceuticals is based on various factors such as natural origin, pharmacological conditions, and chemical structure. They are commonly categorized into functional foods, dietary supplements, pharmaceuticals, and medicinal foods. This classification highlights the versatility of nutraceuticals, showcasing their potential to bridge the gap between nutrition and medicine, offering holistic approaches to health and wellness.
Increasing demand for functional and healthy foods is driving the growth of the nutraceuticals market. The rise in consumer interest in functional foods is attributed to their perceived advantages in promoting wellness, enhancing performance, and supporting overall health. This trend is reflected in the increasing demand for end products in various categories such as dairy, bakery, confectionery, snacks, cereals, fats and oils, meat, and baby food. The ease with which nutraceutical ingredients can be incorporated into these products contributes to their growing popularity. Common fortifications include protein, fiber, vitamins, and minerals. Additionally, the increasing demand for nutrients and micro-nutrients is propelling the expansion of the nutraceuticals market. There is a growing health consciousness among the global population, leading to a substantial increase in the demand for essential nutrients and micro-nutrients such as Vitamins (A, D & C), zinc, folate, and selenium. This surge is driven by an increased awareness that incorporating these vital nutrients and minerals into the daily diet plays a crucial role in enhancing immunity, which is essential for protection against the coronavirus. However, stringent government regulations may hinder the growth of the market. Moreover, technology advancements in artificial intelligence, personalized nutrition platforms, and data-driven insights can create lucrative opportunities for the market.
Asia Pacific is projected to hold the significant market share in the upcoming forecast period. Due to the presence of countries like China, Japan, and India, they are the prime users of nutraceutical products. Increasing occurrences of chronic diseases along with rapid growth in the geriatric population in economies such as Japan and China escalate the growth of the market in the Asia Pacific region. However, North America is accounted to be the fastest-growing market for nutraceuticals. The growth of the North America region is attributed to the growth of the elderly population along with high healthcare costs in developed countries in this region. Consumer preferences towards on-the-go food products are further quickening the growth of the market over the forecast period. Looking at Europe, population growth, urbanization, and digitalization have all been key factors augmenting an unhealthy consumer lifestyle and dietary patterns, which leads to uncontrollable obesity levels. In turn, the growth of nutraceutical products is increasing at a moderate rate in Europe. Furthermore, the Middle East and Africa are projected to experience moderate growth in the nutraceuticals market during the forecast period.
| Report Coverage | Details |
|---|---|
| Market Size in 2022 | USD 289.98 Billion |
| Market Size by 2030 | USD 668.24 Billion |
| Growth Rate from 2023 to 2030 | CAGR of 9.49% |
| Largest Market | Asia Pacific |
| No. of Pages | 350 |
| Market Drivers |
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| Market Segmentation | By Type, By Form, By Application, By End User, and By Distribution Channel |
| Regional Scope | North America, Europe, Asia Pacific, and RoW |
The report on global nutraceuticals market covers segments such as type, form, application, end user, and distribution channel. On the basis of type, the sub-markets include functional foods, functional beverages, and dietary supplements. On the basis of form, the sub-markets include tablets and capsules, powders, liquid, and others. On the basis of application, the sub-markets include general wellness, weight management, immunity enhancement, digestion and heart health management, sports nutrition, beauty and anti-aging, and others. On the basis of end user, the sub-markets include adults, geriatric and pediatric population, pregnant women, and athletes and sports individuals. On the basis of distribution channel, the sub-markets include online, and offline.
The report provides profiles of the companies in the market such as Amway Corp., W. R. Grace & Co.-Conn., General Mills Inc., Innophos., DSM, Cargill, Incorporated, ADM, The Kraft Heinz Company, Nature's Bounty, and Nestlé.
The report provides deep insights into demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the nutraceuticals market. Moreover, the study highlights current market trends and provides forecasts from 2023-2030. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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