Dublin, Sept. 25, 2023 (GLOBE NEWSWIRE) -- The "Global Nutraceuticals Market 2023-2027" report has been added to ResearchAndMarkets.com's offering.
The nutraceuticals market is poised for significant growth, with several key drivers and trends influencing its expansion. Here are some key insights from the report:
Market Growth Forecast:
- The nutraceuticals market is expected to grow by $223.56 billion during the forecast period of 2022-2027.
- The market is projected to accelerate at a CAGR of 8.46% during this period.
Market Drivers:
- Increasing Cost of Medical Treatment: The rising cost of medical treatment is a major driver of the nutraceutical market. Many consumers are turning to nutraceuticals as a preventive healthcare option to reduce medical expenses.
- Rising Number of Health-Conscious Consumers: There is a growing population of health-conscious consumers who are seeking dietary and nutritional solutions to maintain and improve their health.
- Demand for Nutraceuticals with Medical Benefits: Nutraceuticals with medical benefits are in high demand as consumers look for products that offer both nutrition and health benefits.
Market Segmentation:
- The nutraceuticals market is segmented by distribution channel into offline and online channels.
- It is also segmented by product type into functional food, functional beverages, and dietary supplements.
Trends Driving Market Growth:
- Technological Innovations: Technological innovations are a prime driver of market growth as they lead to the development of new and improved nutraceutical products.
- Industry Developments: Ongoing developments in the nutraceuticals industry are contributing to the market's expansion.
- Growing Preference for Personalized Nutrition: Consumers are increasingly seeking personalized nutrition solutions, which is driving demand for customized nutraceutical products.
Competitive Portfolio
- Abbott Laboratories
- Advanced Orthomolecular Research Inc.
- Amway Corp.
- Archer Daniels Midland Co.
- BASF SE
- Bayer AG
- Better Being Corp.
- Cargill Inc.
- COSUCRA
- Danone SA
- General Mills Inc.
- Herbalife International of America Inc.
- Innutrigel AG
- International Flavors and Fragrances Inc.
- LKK Health Products Group
- Nestle SA
- PepsiCo Inc.
- Pfizer Inc.
- RBK NUTRACEUTICALS Pty Ltd.
- The Coca Cola Co.
For more information about this report visit https://www.researchandmarkets.com/r/jg41mt
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
