New York, United States, May 30, 2022 (GLOBE NEWSWIRE) — Nutraceuticals are food-based supplements that can also be utilized for medicinal purposes. Since they are made from food materials and extracts, they are also known as bioceuticals. Nutraceutical commodities come in many forms and are used for a wide range of purposes. These products are unregulated in many parts of the world because they are considered food supplements or additives. The demand for nutraceuticals is rapidly increasing. The growing awareness of the health advantages of their use is the primary driver of increased demand for nutraceutical products.
Increasing Cost of Healthcare to Drive the Global Nutraceutical Products Market
As the population ages, chronic diseases linked to excessive calorie consumption and health expenditures are increasing. Consumers are increasingly looking for cost-effective methods to prevent such conditions, such as self-prescribed therapies. Diseases like cardiovascular and diabetes have increased due to changing lifestyle habits. Treatment for heart disease and diabetes is generally expensive. As a result of rising healthcare and pharmaceutical costs, consumers are turning to self-care and healthier eating habits, driving up demand for nutraceutical products.
The growing trend among consumers to change their eating habits is projected to increase nutraceutical demand. The belief among consumers that a poor diet leads to increased pharmaceutical spending is expected to boost demand for nutraceutical products, which will benefit governments by lowering healthcare and social security costs.
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Increasing Healthcare Awareness to Create Lucrative Opportunities for the Global Nutraceutical Products market
Heart disease, cancer, and diabetes have all increased in various segments of the population due to accelerated socioeconomic advancement over the decades. As their health consciousness grows, consumers prefer nutraceuticals as part of their daily diets. Nutraceuticals have become more popular due to changing consumer preferences that encourage on-the-go eating and the rising prevalence of replacing meals with relatively small nutritional snacks.
Nutraceuticals deliver essential nutrients in various forms, including dietary supplements, functional foods, and beverages. According to global trends, nutraceuticals are expected to play a significant role in personalized nutrition. This trend is expected to encourage people of all ages and demographics to choose products that meet their nutritional needs.
The aging population’s growing concerns about heart health and obesity are expected to drive up demand for nutraceuticals. The aging population is open to personalized nutrition, which provides ample growth opportunities for nutraceutical companies and educational programs aimed at this demographic. Consumer awareness is expected to rise due to education and clear messages to the target population about various health concerns, resulting in increased product demand.
Impact of COVID-19
According to the Nutrition Business Journal, immunization supplement sales are expected to increase by more than 25% in 2020. Due to the pandemic, more than half of all people have increased their intake of nutritional supplements. Aside from that, consumers intend to increase their supplement product consumption in three months. Twenty percent of consumers who have never taken dietary supplements plan to begin and maintain their daily supplement consumption for three months.
As a result, demand for dietary supplements has reached new highs across the value chain, including among suppliers, manufacturers, distributors, and retailers. Even though the sales surge began with immunity products, the halo effect will likely spread for nutritional and health outcomes across the entire market.
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Regional Insights
Asia-Pacific is the most dominant regional segment, occupying over 31% of the revenue share. By 2030, the Asia-Pacific nutraceutical products market is predicted to be worth USD 381,980 million, increasing at a CAGR of 10.5%. Due to the rising multitude of ailments linked to nutritional deficiencies in the region, Asia-Pacific was the fastest-growing market for nutraceuticals. Rising consumer medical issues and greater awareness about nutraceuticals will drive the Asia-Pacific nutraceutical industry.
The North American nutraceutical products market is estimated to reach an expected USD 166,970 million by 2030, progressing with a CAGR of 7.5%. Over the next eight years, raising awareness of nutritional supplements among working professionals in the United States and Canada for sustaining an adequate diet in the human body is designed to stimulate dietary supplement consumption. Furthermore, due to increased concerns about the adverse effects of conventional pharmaceutical treatments, high adoption rates for herbal medicines among individuals in the United States and Canada are likely to contribute to market growth throughout the forecast period.
Key Highlights
- The global nutraceutical products market was valued at USD 475,850 million in 2021 and is likely to reach USD 1,033,520 million by 2030, registering a CAGR of 9% during the forecast period (2022–2030).
- By product, the global nutraceutical products market is segmented into dietary supplements, functional food, and functional beverage. Functional foods product type dominates the nutraceutical products market and is estimated to reach an expected value of USD 486,095 million by 2030, progressing at a CAGR of 9% over the forecast period. Dietary supplements are the second most popular product type, accounting for 47.05% of all sales in 2021.
- Region-wise, the Asia-Pacific nutraceutical products market is expected to reach USD 381,980 million, growing at a CAGR of 10.5% by 2030.
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Global Nutraceutical products market: Segmentation
By Form
By Type
- Functional Foods & Beverages
- Dietary Supplements
By Product
- Dietary Supplements
- Functional Foods
- Functional Beverages
By Distribution Channel
- B2B
- B2C
- Store Based Retail
- Hypermarket & Supermarket
- Convenience Store
- Specialty Retail Store
- Others
- Online Retail
By Regions
- North America
- Europe
- Asia-Pacific
- Central and South America
- The Middle East and Africa
Detailed Table of Content
Introduction
1.1 Market Definition
1.2 Market Scope
2 Research Methodology
2.1 Primary Research
2.2 Research Methodology
2.3 Assumptions & Exclusions
2.4 Secondary Data Sources
3 Executive Summary
4 Market Overview
4.1 Report Segmentation & Scope
4.2 Value Chain Analysis: Nutraceutical Products Market
4.2.1 Vendor Matrix
4.3 Key Market Trends
4.3.1 Drivers
4.3.2 Restraints
4.3.3 Opportunities
4.4 Porter’s Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Environment & Regulatory Landscape
4.6 Forecast Factors & Relevance of Impact
4.7 Macro-Economic & Geopolitical Scenario
4.8 Parent Market Overview
4.9 Technology Landscape
4.10 Market Share Analysis
4.11 Potential Venture Analysis
4.12 Regional Price Trends
4.13 Raw Material Trends
4.14 Cost Structure Analysis
4.14.1 Labor Cost
4.14.2 Consumables
4.14.3 Maintenance Cost
5 Form Overview
5.1 Introduction
5.1.1 Market Size & Forecast (Value & Volume)
5.2 TABLEt
5.2.1 Market Size & Forecast (Value & Volume)
5.3 Syrup
5.3.1 Market Size & Forecast (Value & Volume)
5.4 Powder
5.4.1 Market Size & Forecast (Value & Volume)
5.5 Others
5.5.1 Market Size & Forecast (Value & Volume)
6 Type Overview
6.1 Introduction
6.1.1 Market Size & Forecast (Value & Volume)
6.2 Functional Food & Beverages
6.2.1 Market Size & Forecast (Value & Volume)
6.2.2 Functional Foods
6.2.3 Market Size & Forecast (Value & Volume)
6.2.4 Functional Beverages
6.2.5 Market Size & Forecast (Value & Volume)
6.3 Dietary Supplements
6.3.1 Market Size & Forecast (Value & Volume)
6.3.2 Vitamins & Mineral Supplements
6.3.3 Market Size & Forecast (Value & Volume)
6.3.4 Protein Supplements
6.3.5 Market Size & Forecast (Value & Volume)
6.3.6 Herbal Supplements
6.3.7 Market Size & Forecast (Value & Volume)
6.3.8 Other Dietary Supplements
6.3.9 Market Size & Forecast (Value & Volume)
7 Distribution Channel Overview
7.1 Introduction
7.1.1 Market Size & Forecast (Value & Volume)
7.2 B2B
7.2.1 Market Size & Forecast (Value & Volume)
7.3 B2C
7.3.1 Market Size & Forecast (Value & Volume)
7.3.2 Store Based Retail
7.3.3 Market Size & Forecast (Value & Volume)
7.3.3.1 Hypermarket & Supermarket
7.3.3.2 Market Size & Forecast (Value & Volume)
7.3.3.3 Convenience Store
7.3.3.4 Market Size & Forecast (Value & Volume)
7.3.3.5 Specialty Retail Store
7.3.3.6 Market Size & Forecast (Value & Volume)
7.3.3.7 Others
7.3.3.8 Market Size & Forecast (Value & Volume)
7.3.4 Online Retail
7.3.5 Market Size & Forecast (Value & Volume)
8 Regional Overview
8.1 Introduction
8.1.1 Market Size & Forecast (Value & Volume)
8.2 North America
8.2.1 Economic Overview
8.2.2 Market Scenario
8.2.3 U.S.
8.2.3.1 By Form
8.2.3.2 By Type
8.2.3.3 By Distribution Channel
8.2.4 Canada
8.2.4.1 By Form
8.2.4.2 By Type
8.2.4.3 By Distribution Channel
8.2.5 Mexico
8.2.5.1 By Form
8.2.5.2 By Type
8.2.5.3 By Distribution Channel
8.3 Latin America (LATAM)
8.3.1 Economic Overview
8.3.2 Market Scenario
8.3.3 Brazil
8.3.3.1 By Form
8.3.3.2 By Type
8.3.3.3 By Distribution Channel
8.3.4 Argentina
8.3.4.1 By Form
8.3.4.2 By Type
8.3.4.3 By Distribution Channel
8.3.5 Columbia
8.3.5.1 By Form
8.3.5.2 By Type
8.3.5.3 By Distribution Channel
8.3.6 Rest of LATAM
8.3.6.1 By Form
8.3.6.2 By Type
8.3.6.3 By Distribution Channel
8.4 Europe
8.4.1 Economic Overview
8.4.2 Market Scenario
8.4.3 Germany
8.4.3.1 By Form
8.4.3.2 By Type
8.4.3.3 By Distribution Channel
8.4.4 France
8.4.4.1 By Form
8.4.4.2 By Type
8.4.4.3 By Distribution Channel
8.4.5 U.K.
8.4.5.1 By Form
8.4.5.2 By Type
8.4.5.3 By Distribution Channel
8.4.6 Italy
8.4.6.1 By Form
8.4.6.2 By Type
8.4.6.3 By Distribution Channel
8.4.7 Rest of Europe
8.4.7.1 By Form
8.4.7.2 By Type
8.4.7.3 By Distribution Channel
8.5 Asia-Pacific (APAC)
8.5.1 Economic Overview
8.5.2 Market Scenario
8.5.3 China
8.5.3.1 By Form
8.5.3.2 By Type
8.5.3.3 By Distribution Channel
8.5.4 Japan
8.5.4.1 By Form
8.5.4.2 By Type
8.5.4.3 By Distribution Channel
8.5.5 India
8.5.5.1 By Form
8.5.5.2 By Type
8.5.5.3 By Distribution Channel
8.5.6 Australia
8.5.6.1 By Form
8.5.6.2 By Type
8.5.6.3 By Distribution Channel
8.5.7 South Korea
8.5.7.1 By Form
8.5.7.2 By Type
8.5.7.3 By Distribution Channel
8.5.8 Rest of APAC
8.5.8.1 By Form
8.5.8.2 By Type
8.5.8.3 By Distribution Channel
8.6 Middle East
8.6.1 Economic Overview
8.6.2 Market Scenario
8.6.3 Saudi Arabia
8.6.3.1 By Form
8.6.3.2 By Type
8.6.3.3 By Distribution Channel
8.6.4 UAE
8.6.4.1 By Form
8.6.4.2 By Type
8.6.4.3 By Distribution Channel
8.6.5 Qatar
8.6.5.1 By Form
8.6.5.2 By Type
8.6.5.3 By Distribution Channel
8.6.6 Oman
8.6.6.1 By Form
8.6.6.2 By Type
8.6.6.3 By Distribution Channel
8.6.7 Turkey
8.6.7.1 By Form
8.6.7.2 By Type
8.6.7.3 By Distribution Channel
8.6.8 Rest of Middle East
8.6.8.1 By Form
8.6.8.2 By Type
8.6.8.3 By Distribution Channel
8.7 Africa
8.7.1 Economic Overview
8.7.2 Market Scenario
8.7.3 Nigeria
8.7.3.1 By Form
8.7.3.2 By Type
8.7.3.3 By Distribution Channel
8.7.4 South Africa
8.7.4.1 By Form
8.7.4.2 By Type
8.7.4.3 By Distribution Channel
8.7.5 Rest of Africa
8.7.5.1 By Form
8.7.5.2 By Type
8.7.5.3 By Distribution Channel
9 Competitive Landscape — Manufacturers & Suppliers
9.1 Competition Dashboard
9.2 Industry Structure
9.3 Metagenics, Inc.
9.3.1 Business Overview
9.3.2 Financial Performance
9.3.3 Recent Developments
9.3.4 Product Portfolio
9.4 Genomatica, Inc
9.4.1 Business Overview
9.4.2 Financial Performance
9.4.3 Recent Developments
9.4.4 Product Portfolio
9.5 LifeVantage Corporation
9.5.1 Business Overview
9.5.2 Financial Performance
9.5.3 Recent Developments
9.5.4 Product Portfolio
9.6 Naturex S.A
9.6.1 Business Overview
9.6.2 Financial Performance
9.6.3 Recent Developments
9.6.4 Product Portfolio
9.7 Amyris, Inc.
9.7.1 Business Overview
9.7.2 Financial Performance
9.7.3 Recent Developments
9.7.4 Product Portfolio
9.8 Novamont S.p.A.
9.8.1 Business Overview
9.8.2 Financial Performance
9.8.3 Recent Developments
9.8.4 Product Portfolio
9.9 NutraMarks, Inc.
9.9.1 Business Overview
9.9.2 Financial Performance
9.9.3 Recent Developments
9.9.4 Product Portfolio
9.10 The Kraft Heinz Company
9.10.1 Business Overview
9.10.2 Financial Performance
9.10.3 Recent Developments
9.10.4 Product Portfolio
9.11 Amway Corporation
9.11.1 Business Overview
9.11.2 Financial Performance
9.11.3 Recent Developments
9.11.4 Product Portfolio
9.12 Nestlé S.A
9.12.1 Business Overview
9.12.2 Financial Performance
9.12.3 Recent Developments
9.12.4 Product Portfolio
9.13 Pfizer Inc
9.13.1 Business Overview
9.13.2 Financial Performance
9.13.3 Recent Developments
9.13.4 Product Portfolio
9.14 GlaxoSmithKline plc
9.14.1 Business Overview
9.14.2 Financial Performance
9.14.3 Recent Developments
9.14.4 Product Portfolio
9.15 The Nature’s Bounty Co.
9.15.1 Business Overview
9.15.2 Financial Performance
9.15.3 Recent Developments
9.15.4 Product Portfolio
10 Conclusion & Recommendation
11 Acronyms & Abbreviations
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Market News
- February 2020– Innophos Holdings, Inc. was acquired by One Rock Capital Partners, a leading middle-market private equity firm. Since the acquisition, the company has operated as a private equity firm. The deal has resulted in an 18% premium on the average price of Innophos Holdings, Inc. stock.
- February 2020– ADM expanded the production of non-GMO soy protein concentrate in its Europoort facility, Netherlands, to meet the growing consumer demand for plant-based non-GMO proteins.
- December 2021– Hain Celestial Completes Acquisition of ParmCrisps® and Thinsters®
- May 2022– Innophos Releases New Data On The Benefits Of Chelated Minerals
News Media
Increasing Prevalence of Chronic Disorders to Drive the Demand for Surgical Retractors Market
Escalating R&D in the Global Viral Vaccine Market to Beget an Astounding CAGR of 8.49%
The Increase in Awareness Towards Health and Fitness Spur the Global Wearable Healthcare Devices Market
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