The global nutraceuticals market has witnessed a repetitive growth over the last few years, and it is estimated to reach USD 319.6 billion at a CAGR of 6.70% during the forecast period of 2017–2023.
Manufacturers invest in research and technology development and investigative activities to improve existing products and procedures in order to develop new products. The research and development will lead to the development of new products to improve the quality of the products and improve their functionality by experimenting with better ingredients to give a balanced diet. The key industrial players have been developing better-for-you products to accommodate the healthy food movement in convenient packaging, with clean labels ensuring food safety for their consumers.
Asia Pacific is considered to be the second largest hub for nutraceuticals after North America. The consumption of nutraceuticals is identified to be the highest in Japan and China. Both Japan and China together constitute about 78.04% of the total market of nutraceuticals in the Asia Pacific region. The escalating consumption of dietary supplement for fine body metabolism is supporting the sale of nutraceuticals in these countries of the region. The presence of multi-national companies involved in the production of nutraceuticals and running awareness campaigns are adding fuel to the market growth of nutraceuticals in this region. The rising per capita disposable income is also observed to be a key driver for this market in Asia Pacific. Better knowledge about functional food is capturing consumers’ attention towards the nutraceuticals product line. Additionally, India is the potential destination for nutraceutical manufacturers with a huge untapped market.
The global nutraceuticals market is segmented into North America, Europe, Asia Pacific, and the rest of the world. The North American region is estimated to account for a significant market proportion in the global nutraceuticals market, and the trend is expected to continue throughout the forecast period of 2017–2023. Asia Pacific is also expected to witness a maximum growth rate of 7.82% during the review period of 2017–2023.
The nutraceuticals market has been segmented on the basis of type which comprises functional beverages, functional foods, and dietary supplements.
On the basis of ingredients, the nutraceuticals market has segmented into vitamins and minerals, probiotics, protein and peptides, omega-3, and others.
The nutraceuticals market has been segmented on the basis of distribution channel into store-based and non-store-based.
The leading market players in the global nutraceuticals market primarily Archer-Daniels-Midland Company (U.S.), E. I. du Pont de Nemours and Company (U.S.), BASF SE (Germany), GlaxoSmithKline Plc (U.K), DSM Nutritional Products, Inc. (the Netherlands), Abbott Nutrition Manufacturing Inc. (U.S.), and Cargill Inc. (U.S.)
• Food & beverages manufacturers
• Nutraceuticals manufacturers
• Raw material suppliers
• End-users (food & beverages industry)
• Retailers and wholesalers
• E-commerce companies
• Traders, importers, and exporters
• Among type, the functional foods segment is expected to account for a major market proportion during the forecast period of 2017–2023. However, dietary supplements are projected to expand at a high growth rate of 6.88% during the forecast period.
• Among ingredients, the vitamins and minerals segment is expected to witness a growth rate of 6.61% during the forecast period of 2017–2023. Omega- 3 is projected to expand at a high growth rate of 8.23% during the forecast period.
Regional & Country Analysis of the Nutraceuticals Market, Development & Demand Forecast to 2023
As per the analysis, the global nutraceuticals market is estimated to reach USD 319.6 billion during the forecast period 2017 to 2023 at a CAGR of 6.70%.
Table of Content: Key Points
2 Executive Summary
3 Premium Insights
4 Market Dynamics
5 Mega Trends
6 Market Factor Analysis
7 Global Nutraceuticals Market, By Type
8 Global Nutraceuticals Market, By Ingredient
9 Global Nutraceuticals Market, By Distribution Channel
10 North America Nutraceuticals Market Analysis
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