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

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.

Market Snapshot

Study Period:

2016 - 2026

Base Year:

2020

Fastest Growing Market:

Asia Pacific

Largest Market:

Europe

CAGR:

7.5 %

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Market Overview

The global nutraceuticals market is projected to grow at a CAGR of 7.5% during the forecast period (2020 - 2025)

  • 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.

Impact of COVID-19 on the Market:

  • 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 are expected to fuel the demand for the market during the forecast period.
  • Furthermore, the pandemic is also a foundation stone of the start of 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.
  • Hence, the pandemic has highlighted the rightful use of nutraceutical as a preventive cure, and going forward, the global nutraceuticals industry is expected to get its rightful place in global healthcare and medical space, with a significant growth in the overall market.

Scope of the Report

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. The other functional foods category includes functional fats and oils, meat, and baby food. Functional beverages are 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
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

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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.

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Europe Emerges As The Largest Market

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.

However, the growth of the European market has been restrained by stringent regulatory approval procedures, and also the high cost of research and product development, which in turn increases the price of the products.

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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 players in the industry.

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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 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 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

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

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

** Subject to Availability

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