Nutraceuticals Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

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); by Distribution Channel (Specialty Stores, Supermarkets/Hypermarkets, Convenience Stores, Drug Stores/Pharmacies, Online Retail Stores and Other Distribution Channels); and by Geography (North America, Europe, Asia Pacific, South America and Middle East and Africa). The report offers market size and forecasts of nutraceuticals in value terms in USD million for all above segments.

Market Snapshot

Global Nutraceuticals Market Summary
Study Period: 2016 - 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: Europe
CAGR: 7.5 %

Need a report that reflects how COVID-19 has impacted this market and its growth?

Market Overview

The global nutraceuticals market is projected to grow at a CAGR of 7.5% during the forecast period (2021 - 2026)

The global nutraceuticals market is expected to witness consistent growth following the outbreak of COVID-19, as these include the food ingredients that provide medical or health benefits to prevent diseases as well as boosts the overall immune system. The flexibility in storage options, the demand for combined formulations with multiple benefits, increased consumer education levels, informed consumers, and the rise in health concerns among connected consumers during this period of pandemic increased the demand for nutraceutical products around the globe.

In addition, the pandemic is also a foundation stone of the start to the end of substandard nutrition, invalid claims, and smart marketing claims phrases that potentially misled the consumers. For instance, in India, ICMR and FSSAI have now been on non-negotiable terms with the claims and are demanding clinical validation of the products. ICMR has rolled out a large clinical study on Ayush ingredient for immunity, which has been tested on over 10,000 police personnel.

The rising demand for nutraceuticals with medical benefits is one of the major factors driving the nutraceuticals market growth. They contain antioxidants, probiotics, and polyunsaturated fatty acids, which help in managing health issues, like obesity, Cardiovascular disease, cancer, cholesterol, arthritis, and diabetes.

Moreover, the growing preference for personalized nutrition is one of the key nutraceuticals market trends, which may further stimulate the market growth. The trend of personalized nutrition is growing particularly among individuals with gut related medical conditions, where generic treatment is not effective.

Scope of the Report

Nutraceutical products are the substance that has physiological benefits, provides protection against chronic diseases, improves health, delay the ageing process, and increases life expectancy. The global 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. Functional beverages are sub-segmented as energy drinks, sports drinks, fortified juice, dairy and dairy alternative beverages, and other functional beverages. Dietary supplements are categorized as vitamins, minerals, botanicals, enzymes, fatty acids, proteins, and other dietary supplements. By Distribution channel the market is segmented into specialty stores, supermarkets/hypermarkets, convenience stores, drug stores/pharmacies, online retail stores and other distribution channels. Based on geography the market is segmented into North America, Europe, Asia Pacific, South America andMiddle East, and Africa. For each segment, the market sizing and forecasting have been done in value terms of USD million.

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
By Distribution Channel
Specialty Stores
Supermarkets/Hypermarkets
Convenience Stores
Drug Stores/Pharmacies
Online Retail Stores
Other Distribution Channels
By 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

Report scope can be customized per your requirements. Click here.

Key Market Trends

Increased Demand From Healthy & Functional Foods

Rising consumer interest in functional food is a result of the health benefits, performance, and perceived wellness. Owing to the ease of incorporating nutraceutical ingredients in it, the demand for functional end-products such as dairy products, bakery and confectionery, snacks, cereals, fats and oils, meat, and baby food is on the high rise.

Popular fortification includes vitamins, minerals, fiber, and protein. Currently, high-protein food is the real winner, as it became popular among fitness enthusiasts. Also, people, these days are even more concerned about their health than their baby boomer counterparts.

For companies to differentiate themselves from the competition and create space in a crowded market, they are changing their delivery systems. It has evolved beyond tablets and capsules to include newer modes of delivery, including soft chews, chewing gum, gummy bears, patches, lollipops, and quick-dissolving strips. Fortified products are offered in convenient single-serving sizes. This is the reason behind the huge demand for functional snack bars. Furthermore, nowadays, the dietary supplement has moved into more 'food-like' delivery forms, such as pudding-like squeeze packets for omega 3 fish oil, joint juice for glucosamine, and calcium in chocolate chew, etc.

Nutraceuticals Market1

Europe Emerges as one of the Largest Market for Nutraceuticals

In Europe, the nutraceuticals market is driven by anti-aging concerns among the elderly population, this market is mainly concentrated in France, Italy, Germany the United Kingdom, and Spain. Mounting pressure from the consumers, as well as regulatory authorities in Europe, are driving the need for nutraceutical products. Western Europe continues to thrive in nutraceutical sales mainly through the health professional pharmacy-based distribution. The rising obesity, cardiovascular disease, and obesity disease are expected to lead the nutraceutical industry in the forecast period. Also, functional bottled water is also growing in European countries. Sales were boosted by strong marketing for Coca-Cola's Glacéau VitaminWater brand, and from increasing consumption during sports and exercise.​ Therefore, these factors are expected to increase the consumption of nutraceutical products in European countries.

Nutraceuticals Market2

Competitive Landscape

The global nutraceuticals market is highly competitive with the presence of numerous international and domestic players. Players, such as PepsiCo, Nestle, The Kellogg Company, Herbalife, and Nature's Bounty Inc. are the leaders in the industry as consumers continue to focus on their health, it is becoming increasingly important for retailers and manufacturers to understand consumers' shifting needs in the nutraceuticals industry. The prime factors determining the market players and their positions in the concerned market are the ingredients used, target consumers, and the target market segment. The new launches in compliance with the consumer trends in the target segment are likely to further help companies better position themselves in the market.

Recent Developments

  • In May 2021, General Mills launched a new snack brand called Good Measure that is designed specifically to not spike the blood sugar of the person snacking. The Good Measure brand currently has two products: creamy nut butter bars and crunchy almond crisps. The bars are available in multiple flavors starting with Blueberry & Almond, Peanut & Dark Chocolate, and Almond & Dark Chocolate.
  • In Oct 2020, Nestle China had launched its first functional food for adults and expanded its toddler range. It has launched a milk powder containing glucosamine sulfate for increasing bone density.
  • In March 2018, Amway India had launched traditional herbs range under its nutraceutical product brand Nutrilite. The Nutrilite Traditional Herbs range comprises four products – Nutrilite Tulsi, Nutrilite Brahmi, Nutrilite Ashwagandha and Nutrilite Amalaki, Vibhitaki, and Haritak. The products are manufactured at Amway’s manufacturing facility located in the Dindigul district of Tamil Nadu, India

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables and Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  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 By Distribution Channel

      1. 5.2.1 Specialty Stores

      2. 5.2.2 Supermarkets/Hypermarkets

      3. 5.2.3 Convenience Stores

      4. 5.2.4 Drug Stores/Pharmacies

      5. 5.2.5 Online Retail Stores

      6. 5.2.6 Other Distribution Channels

    3. 5.3 By Geography

      1. 5.3.1 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Canada

        3. 5.3.1.3 Mexico

        4. 5.3.1.4 Rest of North America

      2. 5.3.2 Europe

        1. 5.3.2.1 Germany

        2. 5.3.2.2 United Kingdom

        3. 5.3.2.3 France

        4. 5.3.2.4 Sweden

        5. 5.3.2.5 Spain

        6. 5.3.2.6 Italy

        7. 5.3.2.7 Russia

        8. 5.3.2.8 Rest of Europe

      3. 5.3.3 Asia-Pacific

        1. 5.3.3.1 China

        2. 5.3.3.2 Japan

        3. 5.3.3.3 India

        4. 5.3.3.4 Australia

        5. 5.3.3.5 Rest of Asia-Pacific

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Middle East & Africa

        1. 5.3.5.1 South Africa

        2. 5.3.5.2 United Arab Emirates

        3. 5.3.5.3 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 Position Analysis

    4. 6.4 Company Profiles

      1. 6.4.1 PepsiCo Inc.

      2. 6.4.2 General Mills Inc.

      3. 6.4.3 Nestle SA

      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 Inc.

      8. 6.4.8 Amway

      9. 6.4.9 Red Bull

      10. 6.4.10 Abbott

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

  8. 8. IMPACT OF COVID-19 ON THE MARKET

**Subject to Availability

You can also purchase parts of this report. Do you want to check out a section wise price list?

Frequently Asked Questions

The Nutraceuticals Market market is studied from 2016 - 2026.

The Nutraceuticals Market is growing at a CAGR of 7.5% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

Europe holds highest share in 2020.

PepsiCo Inc, General Mills Inc., Nestle SA, Kellogg Co., Herbalife International of America, Inc. are the major companies operating in Nutraceuticals Market.

80% of our clients seek made-to-order reports. How do you want us to tailor yours?

Please enter a valid email id!

Please enter a valid message!