Global Nutraceuticals Market is forecasted to reach $340 billion by 2024; growing at a CAGR of 7.2% from 2016 to 2024. Nutraceuticals are products derived from food sources which contain additional health benefits in comparison to basic nutritional food value. The nutraceuticals comprises beverage, food, and dietary supplements. Vitamins, proteins, minerals, amino acids, fibers, and others are used for manufacturing nutraceuticals products. Increase in disposable income and growing consumer awareness towards the health benefits of nutraceuticals product witnessed increase in adoption of Nutraceuticals.
Major driving factors of global nutraceuticals market are increasing usage of nutraceuticals product as a substitute to prescription, augmented demand for nutritional diet, and rise in healthcare expenditure. However, high price may hinder the growth of the market. Practice of Nutraceuticals across new application areas and technological advancement would provide new business opportunities for the market in the coming years.
Product type and geography are the major segments of global nutraceuticals market. Product type segment includes functional food, functional beverages, personal care & pharmaceutical, and dietary supplements. The functional food segment is further divided into probiotics fortified food, omega fatty acid fortified food, branded ionized salt, branded wheat flour, and others. The functional beverages segment is classified into dairy & dairy alternative drinks, fruit & vegetable juices drinks, noncarbonated drinks, and others.
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Geographically, the global nutraceuticals market is categorised into North America, Europe, Asia-Pacific and Rest of the world RoW. The U.S., Mexico and Canada are covered under North America. Europe covers UK, France, Italy, and others wherein Asia-Pacific covers China, India, Japan, and others. RoW includes South America, Middle East and Africa.
Major companies operating in the nutraceuticals market are General Mills, Inc., Cargill Incorporated, DuPont, Nestle S.A., Royal DSM N.V., BASF SE, Groupe Danone S.A., PepsiCo, and Archer Daniels Midland Company (ADM), among others.
The key takeaways from the report
The report will provide detailed analysis of the Nutraceuticals Market with respect to major segments such as product type, and geography
The report will include the qualitative and quantitative analysis with market estimation over 2015-2024 and compound annual growth rate (CAGR) between 2016 and 2024
Comprehensive analysis of market dynamics including factors and opportunities will be provided in the report
An exhaustive regional analysis of the Nutraceuticals Market from 2015 to 2024 has been included in the report
Profile of the key players in the Nutraceuticals Market, will be provided, which include key financials, product & services, new developments and business strategies
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Scope of Nutraceuticals Market
Product Type Segments
Personal Care and Pharmaceuticals
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Probiotics Market is estimated to reach $136.5 Billion by 2024; growing at a CAGR of 8.4% from 2016 to 2024. Probiotics are live micro-organisms that aid in absorbing nutrients and maintain good digestive health. They are commonly found in several food products and supplements and helps in the absorption of vitamins and minerals into the blood stream.
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