According to a new report published by Pristine Intelligence LLP, titled, “Nutraceuticals Market by Type, Form, Ingredient, Application, and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2024–2032,” the Global Nutraceuticals market size was valued at USD 353.20 Billion in 2023, and is projected to reach USD 665.36 Billion by 2032, registering a CAGR of 7.29% from 2024 to 2032. Nutraceuticals are items made from food sources that offer extra health advantages beyond basic nutrition and are typically taken as dietary supplements to bolster overall health and target specific health issues. Nutraceuticals include a variety of things like vitamins, minerals, herbal extracts, probiotics, and other bioactive compounds.

Nutraceuticals fill nutrient gaps in diets with essential vitamins and minerals to promote good health. They prevent diseases by supporting cellular health and boosting the immune system with antioxidants and bioactive compounds. Personalized options cater to individual health goals, preferences, and dietary needs. Available in capsules, tablets, powders, liquids, and functional foods, nutraceuticals offer convenient and accessible daily supplementation.

Consumers are taking proactive steps to manage their health by using preventive measures and nutraceutical products. Nutraceuticals help fill nutritional gaps and cater to the growing awareness of lifestyle-related diseases. The trend of self-care includes incorporating nutraceuticals in healthcare routines for targeted supplementation. These products offer a convenient way for individuals to control their health with concentrated doses of essential nutrients, antioxidants, and bioactive compounds. Nutraceuticals address various health concerns and can be tailored to individual needs, aligning with the consumer demand for diverse health-focused products.

Consumers are opting for natural alternatives such as nutraceuticals, which are made from botanical extracts and plant-based ingredients, rather than traditional pharmaceuticals. Health-conscious consumers are interested in natural and bioactive compounds for overall well-being, including physical, mental, and emotional health. Heightened understanding and knowledge about the advantages of natural components have fostered confidence and favouritism towards these items. Nutraceuticals have the opportunity to take advantage of this trend by being open and transparent about where they source their ingredients, how they manufacture their products, and the scientific research supporting their effectiveness. In general, there is an increasing interest among consumers in natural products and personalized health solutions.

Global Nutraceuticals Market, Segmentation

The Nutraceuticals market is segmented based on Type, Form, Ingredient, Application, Distribution Channel, and region.

Type:

Consumers are more and more looking for convenient ways to incorporate nutrients and beneficial compounds into their meals, leading to a strong demand for functional foods. Government organizations such as the FDA are in favour of this movement. Functional foods are available in different types such as bars, snacks, cereals, and dairy products, providing a flexible option for enhancing nutrition either during meals or snacks.

Functional foods have a extended shelf life compared to fresh foods while still retaining their nutritional content. They are user-friendly and convenient for customers of any age and dietary choices. The market is expanding with creative products and a variety of nutritional advantages, which include distinctive components.

Application:

The worldwide increase in obesity has resulted in a higher need for weight management remedies. Nutraceuticals offer consumers a practical and affordable alternative to conventional approaches such as surgery or medication, presenting a safe and natural solution.

Nutraceutical weight management products offer a convenient and readily available option for consumers. They can be easily bought either through online platforms or in brick-and-mortar stores. The nutritional support they provide helps with long-term weight loss and maintaining good health. Consumers choose nutraceuticals for weight control because they provide lasting health benefits with no adverse side effects or harmful results.

Region:

The increasing desire for nutraceutical products that enhance health and wellness in the Asia Pacific region is fueled by its large population and increasing disposable income levels. Growing consumer consciousness about the significance of maintaining a healthy lifestyle and utilizing traditional healing practices such as Ayurveda and Traditional Chinese Medicine are driving the demand for nutraceutical products containing traditional ingredients. The increase in city living and shifts in how we live have caused people to become more inactive, stressed, and prone to poor eating habits, leading to a rise in long-term health issues. This change has led to an increased emphasis on preventative healthcare in the area.

Some of The Active Market Players Are-

• General Mills, Inc. (US)
• Nestlé S.A. (Switzerland)
• Kellogg Company (US)
• Herbalife International of America, Inc. (US)
• PepsiCo, Inc. (US)
• Amway Corporation (US)
• Akay group (Turkey)
• Kraft Heinz (US)
• Kellogg's (US)
• Agro Tech (India)
• PepsiCo (US)
• Abbott Laboratories (US)
• Danone (France)
• Zesty Paws (US)
• Nutramax Laboratories, Inc. (US), and Other Active Players.

Key Industry Developments

• April 2024: Wheaties, the oldest cereal brand from General Mills, is leveraging its long history and extending its legacy through its latest product. There are now two new flavors of Wheaties Protein, Maple Almond and Honey Pecan, which include whole grain flakes along with nuts, pumpkin seeds, and honey or maple syrup. It is the ideal solution for a crunchy, flavorful cereal.

• March 2023: Amway, a health and wellness company led by entrepreneurs from Ada, Michigan, released new Nutrilite Omega and Nutrilite Advanced Omega products containing omega-3s sourced from sustainable fish oil, receiving global certification from Friend of the Sea® for nutraceutical products. Nutrilite Omega and Advanced Omega are ideal for those seeking a convenient way to add Omega 3s to their diet, offering three times better absorption and reducing the usual fishy aftertaste.

Key Findings of the Study 

• Consumers are taking more control of their health by using preventive measures to avoid chronic diseases. Nutraceuticals offer various products that align with this trend.   
• Nutraceuticals made of natural bioactive compounds appeal to consumers seeking natural health solutions, offering products for physical, mental, and emotional well-being. 
• Functional foods are available in a variety of forms and formats, including bars, snacks, cereals, dairy products, and more.
• The Asia Pacific region has a high population and a rising demand for products that enhance health and well-being.