Nutraceuticals Market - Growth, Trends, and Forecasts (2023 - 2028)

The nutraceuticals Market is segmented by product type (functional foods (cereal, bakery and confectionary, dairy, snack, and other functional food types), functional beverages (energy drinks, sports drinks, fortified juice, dairy and dairy alternative beverage, and other functional beverage types), and dietary supplements (vitamins, minerals, botanicals, enzymes, fatty acids, proteins, and other dietary supplement types)), 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 the Middle East and Africa). The report offers market size and values in (USD million) during the forecasted years for the above segments.

Nutraceuticals Industry Overview

Nutraceuticals Market Summary
Study Period: 2017-2027
Fastest Growing Market: Asia Pacific
Largest Market: Europe
CAGR: 7.5 %

Major Players

Nutraceuticals Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Nutraceuticals Market Analysis

The Global Nutraceutical Market is projected to register at a CAGR of 7.5% during the upcoming five years.

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 and boost 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 pandemic increased the demand for nutraceutical products around the globe.

In addition, the pandemic is a foundation stone for the beginning and end of substandard nutrition, invalid claims, and smart marketing claims phrases that potentially misled consumers. For instance, in India, The Indian Council of Medical Research (ICMR) and the Food Safety and Standards Authority of India (FSSAI) have now been on non-negotiable terms with the claims. They are demanding clinical validation of the products.

The rising number of nutraceuticals demand with medical benefits is a significant factor driving the growth of nutraceuticals. They contain antioxidants, probiotics, and polyunsaturated fatty acids, which help manage health issues like obesity, cardiovascular disease, cancer, cholesterol, arthritis, and diabetes. Additionally, the growing preference for personalized nutrition in the regions is one of the key market trends in the nutraceuticals market space that further drives the market growth. The customized nutrition trend is growing, particularly among individuals with gut-related medical conditions where generic treatment is ineffective. Multivitamins and single vitamins account for a massive demand from consumers across the regions.​

Nutraceuticals Industry Segments

Nutraceutical products have physiological benefits, protect against chronic diseases, improve health, delay aging, and increase life expectancy. The global nutraceutical market is segmented into product type, distribution channel, and geography. Based on product type, the 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. The market is segmented based on geography: North America, Europe, Asia Pacific, South America, the Middle East, and Africa. For each segment, the market sizing and forecasts have been done based on value (in USD million).

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
Distribution Channel
Specialty Stores
Supermarkets/Hypermarkets
Convenience Stores
Drug Stores/Pharmacies
Online Retail Stores
Other Distribution Channels
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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Nutraceuticals Market Trends

This section covers the major market trends shaping the Nutraceuticals Market according to our research experts:

Increased Demand From Healthy & Functional Foods

Rising consumer interest in functional food results from health benefits, performance, and perceived wellness. Due to the ease of incorporating nutraceutical ingredients, the demand for functional end-products such as dairy products, bakery and confectionery, snacks, cereals, fats and oils, meat, and baby food is rising. Famous fortification includes vitamins, minerals, fiber, and protein. High-protein food is the real winner, as it is popular among fitness enthusiasts. Also, people are even more concerned about their health nowadays 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 evolved beyond tablets and capsules to include newer delivery modes, including soft chews, chewing gum, gummy bears, patches, lollipops, and quick-dissolving strips. Fortified products are offered in convenient single-serving sizes. It is the reason behind the huge demand for functional snack bars. Furthermore, the dietary supplement moved into more 'food-like' delivery forms, such as pudding-like squeeze packets for omega-3 fish oil, joint juice for glucosamine, calcium in chocolate chew, etc.

Nutraceuticals Market: Share of Households Who Bought Health Functional Food, South Korea, 2016-2021

Europe Emerges as one of the Largest Market for Nutraceuticals

In Europe, the nutraceuticals market is driven by anti-aging concerns among the elderly. This market is mainly concentrated in France, Italy, Germany, the United Kingdom, and Spain. Increasing pressure from European consumers and regulatory authorities is driving the need for nutraceutical products. Western Europe continues to thrive in nutraceutical sales mainly through health professional pharmacy-based distribution. The rising obesity, cardiovascular disease, and obesity are expected to lead the nutraceutical industry in the forecast period.

Also, functional bottled water is growing in European countries. For instance, in January 2022, OHMG, the owner of the United Kingdom functional drinks brand, launched water with three different forms of magnesium. The magnesium citrate, magnesium threonate, and magnesium glycinate ingredients in the OHMG range will each provide various functional benefits. Still, Sparkling, Sparkling Peach & Rosemary + Ashwagandha, Sparkling Raspberry & Lemon Balm +L-Theanine, and Sparkling Blackcurrant & Echinacea + Vitamin C are the five flavors available. 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 Market - Nutraceuticals Market: Market Size (%), By Geography, Global, 2021

Nutraceuticals Market Competitor Analysis

The global nutraceutical market is highly competitive, with numerous international and domestic players. Players such as PepsiCo, Nestle, The Kellogg Company, Herbalife, and General Mills, 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.

Nutraceuticals Market Top Players

  1. General Mills, Inc.

  2. Nestlé S.A.

  3. Kellogg Company

  4. Herbalife International of America, Inc.

  5. PepsiCo, Inc.

*Disclaimer: Major Players sorted in no particular order

Nutraceuticals Market Concentration

Nutraceuticals Market Recent Developments

  • June 2022: Kellogg's Special K released new Protein Snack Bars containing 6 grams of protein and 90 calories. The snack bar is offered in two delectable flavors, sweet Berry Vanilla and rich chocolaty Brownie Sundae, and provides a simple on-the-go protein grab without compromising taste.
  • February 2022: PepsiCo's Rockstar Energy brand launched a hemp-infused drink in the United States. The energy drink, branded "Rockstar Unplugged," contains hemp seed oil, B vitamins, spearmint, and lemon balm. The beverage includes only 80 mg of caffeine, significantly less than the caffeine content of most Rockstar Energy drinks. The hemp-infused drink contains no sugar or calories and will be available in three flavors: blueberry, passionfruit, and raspberry cucumber.
  • April 2021: Nestlé NIDO 3+ announced its new and improved recipe, tailor-made for the nutritional needs of children aged between three to five years. The latest and enhanced Nestlé NIDO 3+ recipe contains optimal levels of Vitamin A, Zinc, and Iron, which are the most prevalent micronutrient deficiencies in this age group in South Africa.

Nutraceuticals Market Report - 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 Bargaining Power of Suppliers

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Threat of New Entrants

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 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 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 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 Market Share Analysis

    3. 6.3 Company Profiles

      1. 6.3.1 PepsiCo, Inc.

      2. 6.3.2 General Mills, Inc.

      3. 6.3.3 Nestlé S.A.

      4. 6.3.4 Kellogg Company

      5. 6.3.5 Herbalife International of America, Inc.

      6. 6.3.6 Danone S.A.

      7. 6.3.7 Now Health Group, Inc. (NOW Foods)

      8. 6.3.8 Alticor Inc (Amway Corporation)

      9. 6.3.9 Red Bull GmbH

      10. 6.3.10 Abbott Laboratories

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

**Subject to Availability
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Nutraceuticals Market Research FAQs

The Nutraceuticals Market market is studied from 2017 - 2027.

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 2021.

General Mills, Inc., Nestlé S.A., Kellogg Company, Herbalife International of America, Inc., PepsiCo, Inc. are the major companies operating in Nutraceuticals Market.

Nutraceuticals Industry Reports

In-depth industry statistics and market share insights of the Nutraceuticals sector for 2020, 2021, and 2022. The Nutraceuticals research report provides a comprehensive outlook of the market size and an industry growth forecast for 2023 to 2028. Available to download is a free sample file of the Nutraceuticals report PDF.

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