According to Market Research Future (MRFR), the Global Covid-19 Analysis on Nutraceuticals Market is projected to acquire substantial valuation of USD 407,650.0 while expanding at a CAGR of 7.3% by 2025.
Nutraceuticals are expected to gain popularity owing to the rising health consciousness among people, which is likely to boost the global nutraceuticals market 2020. Rise in the geriatric population, changing lifestyle, and increasing healthcare costs are projected to significantly foster the market growth. Further, the surging application of nutraceutical ingredients in industries such as food and beverage, pharmaceuticals, and animal nutrition are predicted to boost the market during the review period. In addition, the COVID-19 outbreak is anticipated to enhance the demand exponentially owing to its ability to amplify the immunity system.
However, high prices associated with nutraceuticals and stringent government regulations are likely to hamper the market growth during the review period. On a brighter note, nutraceuticals’ ability to delay the ageing process, along with aforementioned factors can boost product demand and ensure relentless market growth.
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The prominent players of the Global Nutraceuticals Market are Glanbia Plc (Ireland), Perrigo Company plc (Ireland), GlaxoSmithKline plc (U.K.), Danone S.A. (U.S.), Abbott Laboratories (U.S.), Bactolac Pharmaceutical Inc (U.S.), Daflorn Ltd (Bulgaria), Yakult Honsha Co., Ltd (Japan), Meiji Holdings Co., Ltd (Japan), E.I.D. – Parry (India) Limited (India).
The segment evaluation of the Global Covid-19 Analysis on Nutraceuticals Market is done by source, type, distribution channel, and form.
The source-based segments of the Global Nutraceuticals Market are animal, the plant, and microbial. Among all segments, the plant segment is projected to acquire the largest market share during the review period.
The type-based segments of the global nutraceuticals market are probiotics, omega fatty acids, vitamins & minerals, proteins & peptides, and others. Among all segments, the vitamins & minerals segment is predicted to acquire the largest market share.
The distribution channel-based segments of the Global Nutraceuticals Industry are store-based and non-store-based.
The form-based segments of the Global Covid-19 Analysis on Nutraceuticals Market are capsules, tablets, & soft gels, liquid & gummies, and powder. Among all segments, the liquid & gummies segment is estimated to display the highest CAGR during the forecast period.
Based on the region, Global Nutraceuticals Market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World (RoW).
As per the analysis, North America is likely to dominate the global market during the review period. The region is estimated to develop owing to the increasing concern towards health. The rising incidence of chronic illness in the region is recognized to be one of the most vital factors strengthening the market during the forecast period.
Europe is predicted to acquire a significant amount of Nutraceuticals Industry share during the forecast period owing to the increased demand for nutraceuticals in the region. The growing health concern is projected to be one of the most crucial factors developing the regional market.
The APAC region is anticipated to be the fastest-growing market during the forecast period. The increasing geriatric population, adoption of a healthy lifestyle, and growing chronic illness are likely to drive the regional market. Further, presence of emerging economies is projected to enhance the demand in the region.
The MEA region is likely to procure the least Nutraceuticals Industry share during the forecast period. The most significant factor responsible for slow development is the lack of awareness and lack of expertise. The presence of underdeveloped economies is predicted to hamper the market growth. However, there are various untapped opportunities in the region, which are likely to boost the regional market.
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