|Study Period:||2016 - 2026|
|Fastest Growing Market:||Asia Pacific|
Need a report that reflects how COVID-19 has impacted this market and its growth?
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|
|By Distribution Channel|
|Online Retail Stores|
|Other Distribution Channels|
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 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.
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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.
- 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 Study Deliverables and Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Product Type
5.1.1 Functional Food
22.214.171.124 Bakery and Confectionary
126.96.36.199 Other Functional Foods
5.1.2 Functional Beverage
188.8.131.52 Energy Drink
184.108.40.206 Sports Drink
220.127.116.11 Fortified Juice
18.104.22.168 Dairy and Dairy Alternative Beverage
22.214.171.124 Other Functional Beverages
5.1.3 Dietary Supplements
126.96.36.199 Fatty Acids
188.8.131.52 Other Dietary Supplements
5.2 By Distribution Channel
5.2.1 Specialty Stores
5.2.3 Convenience Stores
5.2.4 Drug Stores/Pharmacies
5.2.5 Online Retail Stores
5.2.6 Other Distribution Channels
5.3 By Geography
5.3.1 North America
184.108.40.206 United States
220.127.116.11 Rest of North America
18.104.22.168 United Kingdom
22.214.171.124 Rest of Europe
126.96.36.199 Rest of Asia-Pacific
5.3.4 South America
188.8.131.52 Rest of South America
5.3.5 Middle East & Africa
184.108.40.206 South Africa
220.127.116.11 United Arab Emirates
18.104.22.168 Rest of Middle East & Africa
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Key Strategies Adopted
6.2 Most Active Analysis
6.3 Market Position Analysis
6.4 Company Profiles
6.4.1 PepsiCo Inc.
6.4.2 General Mills Inc.
6.4.3 Nestle SA
6.4.4 Kellogg Co.
6.4.5 Herbalife International of America Inc.
6.4.6 Nature's Bounty Inc.
6.4.7 Pfizer Inc.
6.4.9 Red Bull
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. IMPACT OF COVID-19 ON THE MARKET
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Frequently Asked Questions
What is the study period of this market?
The Nutraceuticals Market market is studied from 2016 - 2026.
What is the growth rate of Nutraceuticals Market?
The Nutraceuticals Market is growing at a CAGR of 7.5% over the next 5 years.
Which region has highest growth rate in Nutraceuticals Market?
Asia Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Nutraceuticals Market?
Europe holds highest share in 2020.
Who are the key players in Nutraceuticals Market?
PepsiCo Inc, General Mills Inc., Nestle SA, Kellogg Co., Herbalife International of America, Inc. are the major companies operating in Nutraceuticals Market.