Nutraceutical Products Market Size To Reach USD 461.70 Bn By 2027 | Growing Demand for Fortified Food Owing to the Increasing Health Consciousness Amongst Consumers will be the Major Factor Driving the Industry Growth, says Reports and Data

Leading vendors in the sector are The Hain Celestial Group (U.S.), Kraft Heinz Company (U.S.), Conagra (U.S.), Kellogg’s (U.S.), General Mills (U.S.), Nestlé (Switzerland), Amway (U.S.), Nature’s Bounty (U.S.), Freedom Food Group Limited (Australia), and Pfizer Inc. (U.S.).

New York, New York, UNITED STATES

New York, Jan. 28, 2021 (GLOBE NEWSWIRE) -- The nutraceutical products market was valued at USD 270.96 Billion in the year 2019 and has been projected to rise at a CAGR of 7.1% from 2020 to 2027. Nutraceutical products are mainly a part of food that delivers several nutritional values to the diet. It is also considered as functional foods, containing pharmaceutical-grade and standardized nutrients. These supplements are the source of dietary supplements and work towards preventing diseases. People globally are becoming more inclined towards diverse food and beverage types, having added various nutritional supplements; thus, nutraceutical products are gaining traction.

Globally, various nutraceutical products are gaining immense popularity, becoming a part of the daily diet of consumers. The rising prevalence of various lifestyle diseases and the growing number of people taking numerous preventive healthcare measures are stimulating demand in the industry. Increasing utilization of a wide range of functional food and beverages by the young population is further augmenting the market’s growth over the estimated era. High technological progress in the area of nutraceutical products is also contributing to the industry’s development. A trend of personalized medicine is likely to trigger demand for nutraceutical products.
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The market for nutraceutical products is primarily fueled by factors such as rising awareness about health among the aging population, increasing costs of health care, diet-disease links, and fast advancements in nutrition and food technology. Currently, various health concerns, including cardiovascular disease, cholesterol reduction, and osteoporosis, are attractive targets for a range of nutraceutical products, followed by high blood pressure, menopause-related ailments, child development, diabetes, GI disorders, and lactose intolerance.

Further key findings from the report suggest

  • In terms of product type, the functional foods sub-segment held an enormous 47.5% share in the market. The rising trend of on-the-go snacking along with the soaring demand for various types of nutritional food supplements are factors triggering demand for distinct snack products containing desired and functional nutraceuticals.
  • In the EU, a complex range of regulations is applied to nutraceuticals, based on the product type. The EFSA sets maximum and minimum ingredients levels to be added to diet supplements.
  • Leading vendors in the sector are The Hain Celestial Group (U.S.), Kraft Heinz Company (U.S.), Conagra (U.S.), Kellogg’s (U.S.), General Mills (U.S.), Nestlé (Switzerland), Amway (U.S.), Nature’s Bounty (U.S.), Freedom Food Group Limited (Australia), and Pfizer Inc. (U.S.).

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Segments covered in the report:

This report forecasts revenue growth at global, regional & country levels, and provides an analysis of market trends in each segment and sub-segment from 2017 to 2027. For the purpose of this study, Reports and Data has segmented the nutraceutical products market on the basis of source, product, distribution channel, and region:

Source Outlook (Revenue, USD Million; 2017-2027)

  • Proteins & Amino Acids
  • Probiotics
  • Phytochemicals & Plant Extracts
  • Fibers & Specialty Carbohydrates
  • Omega-3 Fatty Acids
  • Vitamins
  • prebiotics
  • Carotenoids
  • Minerals
  • Others

Product Outlook (Revenue, USD Million; 2017-2027)

  • Food
  • Snacks
  • Confectionery
  • Bakery
  • Dairy
  • Infant Nutrition
  • Others
  • Beverages
  • Beverages
  • Health Drinks
  • Energy Drinks
  • Juices
  • Dairy and Dairy Alternative Beverage
  • Others
  • Dietary Supplements
  • Vitamins
  • Fatty Acids
  • Minerals
  • Proteins
  • Botanicals
  • Enzyme

Distribution Channel Outlook (Revenue, USD Million; 2017-2027)

  • Conventional Stores
  • Grocery Stores
  • Mass Merchandisers
  • Warehouse
  • Online retail
  • Pharmacies/Drugstores
  • Specialty Stores
  • Bakery Stores
  • Confectionery Stores
  • Gourmet Stores
  • Health Centers
  • Cosmetic Stores

Click on the link to read key highlights of the report and look at projected trends for years to come:

Regional Outlook (Revenue, USD Million; 2017-2027)

  • North America
  • U.S.
  • Canada
  • Europe
  • Germany
  • France
  • U.K.
  • Spain
  • Rest of Europe
  • Asia Pacific
  • China
  • India
  • Japan
  • Rest of Asia Pacific
  • Latin America
  • Brazil
  • Middle East & Africa

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