The global nutraceuticals product market has shown steady growth during the past few years. This trend is anticipated to continue during the forecast period due to increasing consumer spending on nutritious and healthy functional food, beverages, and dietary supplements worldwide. Nutraceuticals provide health benefits and help in the prevention and healing of diseases. The global nutraceuticals market is primarily growing due to rise in demand for dietary supplements; however, functional foods and beverages comprise a significant market share . Nutraceuticals are nutritional or functional foods that are slated to have physiological benefits, or provide relief from numerous chronic diseases and ailments to the consumers.
Nutraceuticals range from dietary supplements, isolated nutrients, and herbal products to specific diets and processed foods and beverages. These are extremely attractive to food and beverages companies due to the relatively high margins and minimal regulatory requirements involved. Factors such as rising health concerns, growth of key demographics, and increasing consumer desire to lead a healthy life and avoid dependence on synthetic drugs are the major drivers contributing to the growth of this market. In addition, factors such as new product launches, mergers and acquisitions, and nutraceuticals aimed at improving cardiac health are expected to enhance the growth of this market. All these properties mentioned above have led to the growing demand for nutraceuticals in recent years.
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Nutraceuticals are the products that provide health and nutrition benefits in addition to the basic nutrition value present in food items. Nowadays, consumers are more health conscious, more aware, and better informed on nutrition-enabled products. Furthermore, dietary supplements are not only consumed in order to meet the recommended daily intake of nutrients, but also as a physical performance booster and disease prevention option. In addition, there is a shift in the preference of consumers from synthetic ingredients to organic foods and ingredients, which are obtained from non-genetically modified organism (non-GMO) extracts.
Some of the key players in this market include BASF SE, Cargill Incorporated, Royal DSM N.V., Nestle S.A., Archer Daniels Midland Company (ADM), Groupe Danone, Pepsico Inc., and DuPont.
The scope of the study presents a comprehensive evaluation of the stakeholder strategies and winning imperatives for them by segmenting the global nutraceuticals market as below:
Global nutraceuticals market, by product type
o Functional Food
• Probiotics Fortified Food
• Omega Fatty Acid Fortified Food
• Branded Ionized Salt
• Branded Wheat Flour Market
• Others (nuts, grains, garlic)
o Functional Beverages
• Fruit & Vegetable Juices and Drinks
• Dairy & Dairy Alternative Drinks
• Noncarbonated Drinks (bottled water, tea and coffee)
• Other (herbal tea, sports drinks, energy drinks)
o Dietary Supplements Segment
• Proteins & Peptides
• Vitamins & Minerals
• Herbals ( Ayurvedic extracts, plant extracts, algal extracts, phytochemicals)
• Other (fatty acids, fiber)
o Personal Care and Pharmaceutical
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The nutraceuticals market mainly constitutes food; beverages; dietary supplements; personal care and pharmaceutical products. The growing market of vitamins and minerals-enriched herbal shampoos and creams is also one of the major drivers behind the rising demand for nutraceutical ingredients. The dietary supplements are available in the form of capsules, tablets, and liquids. Nutraceutical ingredients include probiotics and prebiotics, vitamins, proteins, minerals, Omega 3, fibers, amino acids, structured lipids, and various other ingredients. Nutraceutical ingredients find application in grains, cereals, nuts, fruits, vegetables, dairy products, poultry products, seafood, and confectionery items apart from non-alcoholic beverages such as energy drinks, juices, and sports drinks. Few examples of functional foods and drinks enriched with proteins include herb blends, yogurts with probiotics, and soy beverages.
In this report, the global nutraceuticals product market is categorized into two segments: (i) by product type; (ii) by geography. Based on product type, the market has been categorized into functional food, functional beverages, dietary supplements, personal care, and pharmaceutical segments. Functional food is further segmented into probiotic fortified food, branded wheat flour, branded ionized salt, and omega fatty acid fortified food among other functional food. In addition, functional beverages segment has been sub-segmented into fruit & vegetable juices and drinks, non-carbonated drinks, and dairy and dairy alternative drinks among others. Dietary supplements are divided into vitamins and minerals, proteins and peptides, and herbals and non-herbals among others. The report also covers the drivers, restraints, and opportunities (DROs) of the nutraceuticals product market. The study highlights the current market trends and provides forecast for the period from 2018 – 2028. We have also covered the current market scenario for global nutraceuticals, and highlighted future trends that are likely to affect its demand.
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By geography, the market has been segmented into North America, Europe, Asia Pacific, and Rest of the World (RoW). Each region has been further bifurcated country-wise to highlight the respective market share of nutraceuticals in each country. The study covers major countries such as the U.S., Canada, and Mexico in North America; Japan, China, and India in Asia Pacific; the U.K., Italy, and France in Europe; and Latin America, Africa, and the Middle East in RoW. The size and forecast for these markets for the period from 2018 – 2028 has been provided in the report.
Under the scope of this report, different influencing and inhibiting growth factors of the nutraceuticals product market have been analyzed. The market attractiveness analysis provided in the report highlights the key investing areas in this industry. The report will help nutraceuticals manufacturers, suppliers, and distributors to understand the current and future trends in this market and formulate their business strategies accordingly.
In addition the report provides cross-sectional analysis of all the above segments with respect to the following geographical markets:
Global nutraceuticals market, by geography
• North America
o Rest of Europe
o Rest of Europe
• Rest of the World (RoW)
o Latin America
o Middle East