Nutraceutical Products Market is valued at around USD 413.0 billion in 2022 and is expected to reach USD 650.5 billion by 2030, registering a CAGR of 3.9% over the forecast period.
Nutraceuticals, or functional foods, give physiological benefits and protect against chronic illnesses. When compared to the majority of healthcare and pharmaceutical products, which have been shown to be less effective, their ability to meet all dietary and supplemental needs is what makes them so popular. Furthermore, due of the rising frequency of chronic diseases and sedentary lifestyles, the modern consumer is more likely to employ nutraceutical products to meet his or her nutritional needs. In an age of quick fixes and persistent time restrictions, the nutraceutical goods market is expected to rise at an exceptional rate.
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The considerable expansion of the nutraceutical sector can be connected to the increased occurrence of chronic diseases such as diabetes, high cholesterol, and obesity, among others. The growing popularity of nutraceutical products is partly driven by an ageing population and rising desire for pharmaceutical alternatives. The need for portable snacks enriched with nutritional elements, as well as increased consumer awareness of fitness and health, are driving the expansion of the nutraceutical industry.
The Nutraceutical Products Market – Market Trends
- Consumers are now more aware of the advantages of the foods they eat thanks to growing health consciousness.
- Manufacturers are being driven to concentrate on providing nutrient-rich products in developed economies due to the rising prevalence of chronic illnesses among the growing geriatric populations, which is assisting the market expansion for nutraceutical items.
- Since the efficacy of these products varies greatly, the product life cycle of nutraceutical products has been divided into the product life cycles of the many product forms that are offered on the market.
- Gummies, bars, and snacks are anticipated to be in the infancy stage, but because of their significant market appeal, they are anticipated to record the highest CAGR. The segment’s expansion is being fuelled by factors like appealing labelling, competitive pricing, and availability in a variety of flavours.
Top key Players of Nutraceutical Products Market:
Metagenics, Inc.
Genomatica, Inc.
LifeVantage Corporation
Naturex S.A
Amyris, Inc.
Novamont S.p.A.
NutraMarks, Inc.
The Kraft Heinz Company
DSM and Amway Corp
DANONE, DSM, General Mills Inc
Nestlé S.A
Pfizer Inc.
GlaxoSmithKline plc
Innophos, W.R. Grace & Co
Advanced Orthomolecular Research
Arkopharma Laboratories
Bactolac Pharmaceutical, Inc
Valensa International
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The Market – Segmentation
The Market has been sub-classified into products, source, distribution channel.
On the basis of products, the Nutraceutical Products Market is bifurcated into:
- Dietary supplements – Liquid, Powder, Tablets
- Functional foods
- Functional beverages- energy drinks, sports drinks, others
- others
On the basis of source, the market is segmented into:
- Probiotics
- Phytochemicals
- Proteins
- Minerals
- Vitamins
- Omega-3 fatty acids
- Fibres
- others
On the basis of distribution channel, the market is segmented into:
- Conventional stores
- Specialty stores
- Retail pharmacies
- others
The Market –Regional Analysis
Asia-Pacific dominated the global Service Robotics Market, due to the prevalence of cancer being high due to lifestyle conditions, the presence of major market participants, the ongoing modernization and growth of the health care infrastructure, and the well-established health care infrastructure.
Report scope
Global Market: Historical Years- 2018-2021
Global Market: Forecast Years- 2022-2030
Global Market 2022- USD 413.0 billion
Global Market 2030- USD 650.5 billion
Global Market CAGR- 3.9%
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