Dublin, June 26, 2023 (GLOBE NEWSWIRE) -- The "Nutraceutical Products Market by Type, Source, Distribution Channel - Global Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
The global nutraceutical products market is projected to reach $691.87 billion by 2030, at a CAGR of 7.8% from 2023-2030
The report provides an in-depth analysis of the global nutraceutical products market across five major regions, emphasizing the current market trends, market size, and recent developments and providing the forecast till 2030.
The growth of this market is driven by the growing demand for nutrition-enriched products, rising demand for functional beverages, increasing geriatric population and prevalence of chronic diseases, and growing innovations and new product developments.
Furthermore, the technological advancements in the nutraceutical sector and increased investment and expansion in the functional food and beverages industry will provide significant growth opportunities for nutraceutical products manufacturers in the coming years.
Based on type, in 2023, the functional food segment is expected to account for the largest share of the global nutraceutical products market.
The large market share of this segment is attributed to the growing demand for nutritional & fortifying food products and rising awareness about the health benefits of consuming these products. Consumers are increasingly drawn to foods with functional ingredients to lower the risk of specific health concerns, such as obesity, weight loss, diabetes, and cardiovascular diseases, which contribute to the growth of this segment.
Based on source, the prebiotics segment is slated to register the highest CAGR during the forecast period.
The fastest growth of this segment is attributed to the rising chronic disorders and increasing health concerns regarding gut health, increasing consumption of prebiotics, and rising awareness about the benefits of prebiotics. The growing use of prebiotics in infant formulas is expected to create growth opportunities for players in this market.
Based on distribution channel, in 2023, the supermarkets & hypermarkets segment is expected to account for the larger share of the global nutraceutical products market.
The large market share of this segment is attributed to the rapid urbanization, rising per capita disposable incomes, consumers' increasing adoption of healthy eating habits, and increased sales of functional food and beverages in well-established supermarkets and hypermarkets.
In 2023, North America is expected to account for the largest share of the nutraceutical products market.
The large market share of this region is attributed to the well-established food & beverage industry; high awareness of the health benefits of nutraceuticals; the growing popularity of protein bars, shakes, and cookies among millennials; the rising demand for clean-label nutraceutical products; growing vegan trend and increasing health-conscious consumers; and advancements in nutrition and technology.
Key Questions Answered in the Report
- What is the current value of revenue generated by the global nutraceutical products market?
- At what rate is the global nutraceutical products demand projected to grow for the next 5-7 years?
- What are the historical market sizes and growth rates of the global nutraceutical products market?
- What are the major factors impacting the growth of this market at the global and regional levels? What are the major opportunities for existing players and new entrants in the market?
- Which segments in terms of type, source, distribution channel creates major traction for the manufacturers in this market?
- What are the key geographical trends in this market? Which regions/countries are expected to offer significant growth opportunities for the manufacturers operating in the nutraceutical products market?
- Who are the major players in the global nutraceutical products market? What are their specific product offerings in this market?
- What are the recent strategic developments in the global nutraceutical products market? What are the impacts of these strategic developments on the market?
Market Insights
Drivers
- Growing Demand for Nutrition-enriched Products
- Rising Demand for Functional Beverages
- Increasing Geriatric Population and Prevalence of Chronic Diseases
- Growing Innovations and New Product Developments
Restraints
- High Cost of Nutraceutical Products
Opportunities
- Technological Advancements in the Nutraceutical Sector
- Increased Investment and Expansions in the Functional Food and Beverages Industry
Challenges
- Counterfeiting in the Nutraceutical Industry
Trends
- Healthy Snacking
- Clean-Label
Competition Analysis
- Abbott Laboratories (U.S.)
- Amway Corporation (U.S.)
- Conagra Brands Inc. (U.S.)
- Danone S.A. (France)
- General Mills Inc. (U.S.)
- Glanbia plc (Ireland)
- Herbalife Nutrition Ltd. (U.S.)
- International Flavors & Fragrances Inc. (U.S.)
- Kellogg Company (U.S.)
- Nestle S.A. (Switzerland)
- PepsiCo Inc. (U.S.)
- The Coca Cola Company (U.S.)
- Hearthside Food Solutions LLC (U.S.)
- Mars Incorporated (U.S.)
- Meiji Holdings Co. Ltd (Japan)
- Royal Friesland Campina N.V. (Netherlands)
Scope of the Report:
Nutraceutical Products Market Assessment - by Type
- Functional Food
- Dairy Products
- Bakery Products
- Snacks
- Confectionery Products
- Infant Food Products
- Other Functional Food
- Functional Beverages
- Energy Drinks
- Sports Drinks
- Fortified Juices
- Dairy-Based Beverages
- Other Functional Beverages
- Dietary Supplements
- Tablets
- Capsules
- Powder Form
- Liquid Form
- Other Dietary Supplements
Nutraceutical Products Market Assessment - by Source
- Vitamins
- Probiotics
- Minerals
- Proteins and Amino Acids
- Omega-3 Fatty Acids
- Prebiotics
- Phytochemical & Plant Extracts
- Fibers & Specialty Carbohydrates
- Other Sources
Nutraceutical Products Market Assessment - by Distribution Channel
- Supermarkets & Hypermarkets
- Convenience Stores
- Pharmacies & Drug Stores
- Specialty Stores
- E-commerce
- Other Distribution Channel
Nutraceutical Products Assessment - by Geography
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Spain
- Italy
- Rest of Europe (RoE)
- Asia-Pacific
- China
- India
- Japan
- Australia
- South Korea
- Rest of Asia-Pacific (RoAPAC)
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America (RoLATAM)
- Middle East & Africa
For more information about this report visit https://www.researchandmarkets.com/r/nlmuab
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