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Nutraceuticals Market Research Report 2024

Nutraceuticals Market Global Industry Analysis And Forecast (2024-2032) By Type (Functional Beverages, Functional Foods, Dietary Supplements), Form (Capsule or Tablet, Liquid, Powder, Chewable), Ingredient (Vitamins & Minerals, Probiotics, Prebiotics, Antioxidants, Protein & Fibre, And Omega-3 Fatty Acids), Application (Immune Support, Brain Health, Weight Management, Joint and Bone Health, Skin and Beauty, And Energy and Vitality), Distribution Channel (Drugstores & Pharmacies, Specialty Stores, Supermarkets/ Hypermarkets, Online Retail Stores), And Region

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Report ID: 246

Categories: Healthcare

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Summary TOC Segmentation Methodology

Nutraceuticals Market Synopsis

Nutraceuticals Market Size Was Valued at USD 353.20 Billion in 2023 and is Projected to Reach USD 665.36 Billion by 2032, Growing at a CAGR of 7.29% From 2024-2032.

Nutraceuticals are products derived from food sources that provide additional health benefits beyond basic nutrition which are often used as dietary supplements to support overall well-being and address specific health concerns. Nutraceuticals encompass various substances such as vitamins, minerals, herbal extracts, probiotics, and other bioactive compounds.

  • Nutraceuticals bridge the gap between inadequate nutrient intake and optimal nutrition by providing essential vitamins, minerals, and other nutrients that may be lacking in regular diets, helping individuals meet their nutritional needs and maintain good health.
  • Nutraceuticals focus on preventive healthcare by promoting overall wellness and reducing the risk of chronic diseases with the help of antioxidants, phytochemicals, and other bioactive compounds that support cellular health, strengthen the immune system, and counteract oxidative stress.
  • Nutraceuticals enable personalized health management by offering a wide range of products that cater to different individual needs and preferences allowing to choose supplements that align with their specific health goals, lifestyles, and dietary requirements.
  • Nutraceuticals are widely available in various forms, including capsules, tablets, powders, liquids, and functional foods making it a convenient and accessible option in daily routine.

  • This statistic shows size of the total global dietary supplements market from 2018 to 2023. By 2023, the dietary supplements market was generated around 235 billion U.S. dollars worldwide.

Top Active Players Involved 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), Charlotte's Web (US), HempFlax Group BV. (Netherlands), Glanbia plc (Ireland), A&Z Pharmaceutical, Inc. (US), Laurus Labs (India), Biodeal Pharmaceuticals Limited (India), Nutriwell Lab (India), RichVit Nutraceutical Co. Ltd. (China), ACG Group (India), Resource Label Group (US) and Other Active Players.”

Nutraceuticals Market Trend Analysis

Rising Health Consciousness Among Consumers

  • Consumers today are increasingly proactive in managing their health and well-being by adopting preventive measures to reduce the risk of chronic diseases and maintain optimal health. Nutraceuticals align with this approach by offering a range of products.
  • With the growing awareness about lifestyle-related diseases and nutritional deficiencies through social media platforms, consumers are becoming more conscious of their nutrient intake. Nutraceuticals play a crucial role in filling these nutritional gaps.
  • The shift towards self-care includes the incorporation of nutraceuticals as a part of their healthcare routine. Nutraceuticals offer a convenient and accessible way for individuals to take control of their health by providing targeted supplementation.
  • Nutraceuticals cater to the demand of consumers by offering a diverse range of products that address various health concerns and can be tailored to individual requirements. It provides concentrated doses of essential vitamins, minerals, antioxidants, and other bioactive compounds.

Opportunity

Shift Towards Natural and Holistic Solutions

  • Consumers are increasingly seeking natural alternatives to traditional pharmaceuticals and looking for products derived from natural sources, such as botanical extracts, herbs, and plant-based ingredients.
  • Nutraceuticals composed of natural and bioactive compounds attract consumers who prioritize natural solutions for their health needs. They offer a range of products that address various aspects of health, including physical, mental, and emotional well-being.
  • Increasing consumer awareness and education about the benefits of natural ingredients have led to a growing preference and trust in natural products. Nutraceuticals can capitalize on this trust and preference by providing transparency in ingredient sourcing, manufacturing processes, and scientific backing.
  • Consumer interest in natural products, emphasis on holistic health, integrative approach to traditional medicine, preventive mindset, confidence in natural ingredients, and growing preference for customization are all driving the nutraceutical industry's expansion.

Nutraceuticals Market Segment Analysis:

The Nutraceuticals Market is Segmented on the basis of Type, Form, Ingredient, Application, and Distribution Channel.

By Type, the Functional Foods Segment Is Expected to Dominate the Market During the Forecast Period

There are three segments by type such as functional beverages, functional foods, and dietary supplements. Among these, the functional foods segment is expected to dominate the market during the forecast period.

  • As consumers become more health conscious, they are looking for convenient and accessible ways to incorporate key nutrients and beneficial compounds into their meals and functional foods creating a high demand. Regulatory agencies, such as the FDA, have provided a supportive regulatory environment for functional foods.
  • Functional foods are available in a variety of forms and formats, including bars, snacks, cereals, dairy products, and more and can be consumed as a part of daily meals or as snacks, creating a versatile solution for those seeking to improve their nutritional intake.
  • Functional foods have a longer shelf life compared to fresh foods, making them a more practical and convenient option for consumers without compromising their nutritional value. They can be easily incorporated into any dietary pattern, making them an accessible option for different age groups and dietary preferences.
  • The functional foods market is witnessing significant growth in product innovation and diversification with targeted nutritional benefits and featuring innovative ingredients.

By Application, Weight Management Segment Held the Largest Share In 2023

There are six segments by application such as immune support, brain health, weight management, joint and bone health, skin and beauty, and energy and vitality. Among these, the weight management segment held the largest share in 2023.

  • There is a growing worldwide occurrence of obesity, resulting in a higher need for weight management options. Nutraceuticals offer a safe, natural, and non-intrusive approach to weight management.
  • Consumers are seeking other options besides conventional methods like surgery or medication for managing weight. Nutraceuticals are a feasible, organic, and economical option that is gaining popularity in the market.
  • The nutraceutical weight management products provide consumers with a convenient and easily accessible choice. They are readily accessible for purchase either online or in physical retail locations.
  • They offer nutritional support that aids in sustainable weight loss and upkeep of good health. Consumers opt for nutraceuticals for weight management as they offer long-term health advantages without negative side effects and harmful outcomes.

Nutraceuticals Market Regional Insights:

Asia Pacific is Expected to Dominate the Market Over the Forecast Period

  • The Asia Pacific region has a high population and a rising demand for products that enhance health and well-being is driven by increasing disposable income levels. As the number of consumers grows, the market potential for nutraceuticals in the area also increases.
  • There is a growing awareness of the importance of maintaining a healthy lifestyle and preventing diseases in the Asia Pacific region. This heightened health consciousness drives the demand for nutraceutical products.
  • The Asia Pacific region is known for its abundant traditional healing methods like Ayurveda and Traditional Chinese Medicine. The region has seen an increase in popularity of nutraceuticals that use traditional herbs and ingredients from traditional practices.
  • Urbanization and changing lifestyles in the Asia Pacific region have resulted in a shift towards sedentary lifestyles, increased stress levels, and unhealthy eating habits which has led to a rise in chronic health conditions and a greater focus on preventive healthcare.

Nutraceuticals Market Active Players

  • 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)
  • Charlotte's Web (US)
  • HempFlax Group BV. (Netherlands)
  • Glanbia plc (Ireland)
  • A&Z Pharmaceutical, Inc. (US)
  • Laurus Labs (India)
  • Biodeal Pharmaceuticals Limited (India)
  • Nutriwell Lab (India)
  • RichVit Nutraceutical Co. Ltd. (China)
  • ACG Group (India)
  • Resource Label Group (US) and Other Active Key Players.

Key Industry Developments in the Nutraceuticals Market:

  • In April 2024, As General Mills’ oldest cereal brand, Wheaties is building upon its rich history and expanding its legacy with its newest offering. Wheaties Protein now comes in two fresh flavours, Maple Almond and Honey Pecan, consisting of whole grain flakes with nuts, pumpkin seeds, and honey or maple syrup. It is the perfect answer for a crispy, tasty cereal.
  • In 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.

Global Nutraceuticals Market

Base Year:

2023

Forecast Period:

2024-2032

Historical Data:

2017 to 2023

Market Size in 2023:

USD 353.20 Bn.

Forecast Period 2024-32 CAGR:

7.29 %

Market Size in 2032:

USD 665.36 Bn.

Segments Covered:

By Type

  • Functional Beverages
  • Functional Foods
  • Dietary Supplements

By Form

  • Capsule or Tablet
  • Liquid
  • Powder
  • Chewable

By Ingredient

  • Vitamins & Minerals
  • Probiotics
  • Prebiotics
  • Antioxidants
  • Protein & Fibre
  • Omega-3 Fatty Acids

By Application

  • Immune Support
  • Brain Health
  • Weight Management
  • Joint and Bone Health
  • Skin and Beauty
  • Energy and Vitality

By Distribution Channel

  • Drugstores & Pharmacies
  • Specialty Stores
  • Supermarkets/ Hypermarkets
  • Online Retail Stores

By Region

  • North America (U.S., Canada, Mexico)
  • Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
  • Western Europe (Germany, UK, France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
  • Asia Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New-Zealand, Rest of APAC)
  • Middle East & Africa (Turkey, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa)
  • South America (Brazil, Argentina, Rest of SA)

Frequently Asked Questions

What would be the forecast period in the Nutraceuticals Market research report?

The forecast period in the Nutraceuticals Market research report is 2024-2032.

Who are the key players in the Nutraceuticals Market?

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), Charlotte's Web (US), HempFlax Group BV. (Netherlands), Glanbia plc (Ireland), A&Z Pharmaceutical, Inc. (US), Laurus Labs (India), Biodeal Pharmaceuticals Limited (India), Nutriwell Lab (India), RichVit Nutraceutical Co. Ltd. (China), ACG Group (India), Resource Label Group (US) and Other Active Players.

What are the segments of the Nutraceuticals Market?

The Nutraceuticals Market is segmented into Type, Form, Ingredient, Application, Distribution Channel, and region. By Type, the market is categorized into Functional Beverages, Functional Foods, and Dietary Supplements. By Form, the market is categorized into Capsules, Tablet, Liquid, and Powder. By Ingredient, the market is categorized into Vitamins & Minerals, Probiotics, Prebiotics, Antioxidants, Protein & Fiber, And Omega-3 Fatty Acids. By Application, the market is categorized into Immune Support, Brain Health, Weight Management, Joint and Bone Health, Skin and Beauty, And Energy and Vitality. By Distribution Channel, The Market Is Categorized into Drugstores & Pharmacies, Specialty Stores, Supermarkets/ Hypermarkets, and Online Retail Stores. By region, it is analyzed across North America (U.S.; Canada; Mexico), Eastern Europe (Bulgaria; The Czech Republic; Hungary; Poland; Romania; Rest of Eastern Europe), Western Europe (Germany; UK; France; Netherlands; Italy; Russia; Spain; Rest of Western Europe), Asia-Pacific (China; India; Japan; Southeast Asia, etc.), South America (Brazil; Argentina, etc.), Middle East & Africa (Saudi Arabia; South Africa, etc.).

What is the Nutraceuticals Market?

Nutraceuticals are products derived from food sources that provide additional health benefits beyond basic nutrition which are often used as dietary supplements to support overall well-being and address specific health concerns. Nutraceuticals encompass various substances such as vitamins, minerals, herbal extracts, probiotics, and other bioactive compounds.

How big is the Nutraceuticals Market?

Nutraceuticals Market Size Was Valued at USD 353.20 Billion in 2023 and is Projected to Reach USD 665.36 Billion by 2032, Growing at a CAGR of 7.29% From 2024-2032.

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