Nutraceuticals Market - Growth, Trends, and Forecast (2019 - 2024)

Global Nutraceuticals market is segmented by Type as Functional Foods (Cereal, Bakery and Confectionery, Dairy, Snacks, Other Functional Foods), Functional Beverages ( Energy Drinks, Sports Drinks, Fortified Juice, Dairy and Dairy Alternative Beverages, and Other Functional Beverages), Dietary Supplements ( Vitamins, Minerals, Botanicals, Enzymes, Fatty Acids, Proteins, and Other Dietary Supplements), and by Geography as North America, South America, Europe, Asia-Pacific, and Middle East & Africa.

Market Snapshot

nutraceuticals market
Study Period:

2016-2024

Base Year:

2018

Fastest Growing Market:

Asia Pacific

Largest Market:

Asia Pacific

Key Players:

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Nutraceuticals Market

The nutraceuticals market is predicted to record a revenue of USD 671.30 billion by 2024, registering a CAGR of 7.5% during the forecast period (2019 - 2024).

  • Globally, nutraceuticals are gaining importance and are becoming a part of the consumer’s daily diet. The major reasons for this change have been the increasing prevalence of lifestyle diseases and people consciously taking preventive healthcare measures.
  • Developed markets, like the United States and Europe, are discovering the untapped segment of customized products based on health claims. Functional food is the largest shareholding category of the studied market, followed by functional beverage and dietary supplement.

Scope of the Report

The nutraceutical market is segmented into functional food, functional beverage, and dietary supplement. The functional food segment is further categorized as cereal, bakery and confectionery, dairy, snacks, and other functional foods. The other functional foods category includes functional fats and oils, meat, and baby food. Functional beverages is sub-segmented as energy drinks, sports drinks, fortified juice, dairy and dairy alternative beverages, and other functional beverages. The other functional beverages include RTD tea, coffee, and enhanced water. Dietary supplements are categorized as vitamins, minerals, botanicals, enzymes, fatty acids, proteins, and other dietary supplements. The other dietary supplements include probiotics, prebiotics, flavonoids, flavones, carotenoids, beta carotene, etc. 

By Product Type
Functional Food
Cereal
Bakery and Confectionary
Dairy
Snack
Other Functional Foods
Functional Beverage
Energy Drink
Sports Drink
Fortified Juice
Dairy and Dairy Alternative Beverage
Other Functional Beverages
Dietary Supplements
Vitamins
Minerals
Botanicals
Enzyme
Fatty Acids
Proteins
Other Dietary Supplements
Geography
North America
United States
Canada
Mexico
Rest of North America
Europe
Germany
United Kingdom
France
Sweden
Spain
Italy
Russia
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
Rest of Asia-Pacific
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
South Africa
United Arab Emirates
Rest of Middle East & Africa

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Key Market Trends

Increased Demand In Developing Regions

Developing countries have a higher prevalence of non-communicable diseases (NCDs), like cancer, diabetes, cardiovascular ailments, and lung disorders. Therefore, the demand for nutraceuticals is expected to rise in these nations. The gradually increasing healthcare expenditure will also augment the demand for nutraceuticals across emerging nations. Nutraceuticals can be an opportunity for economic growth for many developing countries endowed with rich biodiversity and traditional knowledge of the health effects of certain indigenous plant species. The market records plenty of opportunities from within the emerging markets, not just in China and Brazil, but in other Asia-Pacific and South American countries as well. In order to succeed, key players need to emphasize more on product research activities focusing on local consumers, thereby differentiating themselves from their competitors.

nutraceuticals market

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Functional Beverages Remain the Fastest Growing Segment

Functional beverages improve hydration, prevent and help to address health conditions, aid athletic performance, and contribute to the nutritional well-being. Over the years, FF (fortified and functional) beverages have become specific and are tailored according to health benefits, gender, and age. This diversification, in conjunction with the increased distribution channels, continues to fuel the consumer demand. There is a growing demand for immunity drinks, which can be attributed to the consumers’ desire for products that build up their defenses. Energy drink is the largest segment in terms of revenue. However, RTD tea, coffee, and enhanced water are the fastest growing sub-segments among the other functional beverages.

nutraceuticals market

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Competitive Landscape

The most active companies in the nutraceutical market are PepsiCo, Kellogg’s, Herbalife, Suntory, Nestle, and Amway. PepsiCo and Coca-Cola are two global giants in the functional beverage market. Even though Pepsi and Coke are dominating the current market scene, Monster Beverage has shown a sudden increase in its share in the market. Quest Nutrition, Kellogg’s, Nature’s Bounty Inc., Post Holdings Inc., and Clif Bar are the major manufacturers in the protein bar industry.

Major Players

  1. PepsiCo
  2. General Mills Inc.
  3. Nestle
  4. Kellogg Co.
  5. Herbalife International of America, Inc.

* Complete list of players covered available in the table of contents below

nutraceuticals market

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

    1. 3.1 Market Overview

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Porter's Five Forces Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Product Type

      1. 5.1.1 Functional Food

        1. 5.1.1.1 Cereal

        2. 5.1.1.2 Bakery and Confectionary

        3. 5.1.1.3 Dairy

        4. 5.1.1.4 Snack

        5. 5.1.1.5 Other Functional Foods

      2. 5.1.2 Functional Beverage

        1. 5.1.2.1 Energy Drink

        2. 5.1.2.2 Sports Drink

        3. 5.1.2.3 Fortified Juice

        4. 5.1.2.4 Dairy and Dairy Alternative Beverage

        5. 5.1.2.5 Other Functional Beverages

      3. 5.1.3 Dietary Supplements

        1. 5.1.3.1 Vitamins

        2. 5.1.3.2 Minerals

        3. 5.1.3.3 Botanicals

        4. 5.1.3.4 Enzyme

        5. 5.1.3.5 Fatty Acids

        6. 5.1.3.6 Proteins

        7. 5.1.3.7 Other Dietary Supplements

    2. 5.2 Geography

      1. 5.2.1 North America

        1. 5.2.1.1 United States

        2. 5.2.1.2 Canada

        3. 5.2.1.3 Mexico

        4. 5.2.1.4 Rest of North America

      2. 5.2.2 Europe

        1. 5.2.2.1 Germany

        2. 5.2.2.2 United Kingdom

        3. 5.2.2.3 France

        4. 5.2.2.4 Sweden

        5. 5.2.2.5 Spain

        6. 5.2.2.6 Italy

        7. 5.2.2.7 Russia

        8. 5.2.2.8 Rest of Europe

      3. 5.2.3 Asia-Pacific

        1. 5.2.3.1 China

        2. 5.2.3.2 Japan

        3. 5.2.3.3 India

        4. 5.2.3.4 Australia

        5. 5.2.3.5 Rest of Asia-Pacific

      4. 5.2.4 South America

        1. 5.2.4.1 Brazil

        2. 5.2.4.2 Argentina

        3. 5.2.4.3 Rest of South America

      5. 5.2.5 Middle East & Africa

        1. 5.2.5.1 South Africa

        2. 5.2.5.2 United Arab Emirates

        3. 5.2.5.3 Rest of Middle East & Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Key Strategies Adopted

    2. 6.2 Most Active Analysis

    3. 6.3 Market Share Analysis

    4. 6.4 Company Profiles

      1. 6.4.1 PepsiCo

      2. 6.4.2 General Mills Inc.

      3. 6.4.3 Nestle

      4. 6.4.4 Kellogg Co.

      5. 6.4.5 Herbalife International of America Inc.

      6. 6.4.6 Nature's Bounty Inc.

      7. 6.4.7 Pfizer

      8. 6.4.8 Amway

      9. 6.4.9 Red Bull

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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