Chicago, Aug. 20, 2024 (GLOBE NEWSWIRE) -- The global nutraceutical products market size is poised for significant growth, reaching an estimated value of $404.8 billion by 2025. This represents a promising CAGR (Compound Annual Growth Rate) of 7.2% from 2019, fueled by a rising focus on preventive healthcare and an aging population.
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Key Trends Shaping the Nutraceutical Products Landscape:
- Preventive Healthcare Focus: Consumers are increasingly prioritizing proactive health measures, driving demand for nutraceutical products that support overall well-being and potentially prevent chronic diseases.
- Growing Geriatric Population: The expanding demographic of older adults is fueling the need for nutraceutical solutions that address age-related health concerns.
- Government Regulations: Increasing mandates for food fortification by government bodies are expected to positively impact the market growth.
Food Segment Dominates with On-the-Go Convenience and Nutritional Appeal:
The food segment holds the largest market share due to the rising trend of convenient, on-the-go snacking and the growing demand for products packed with essential nutrients. This includes protein-rich snacks, dry fruits and grains, energy bars, and fortified bakery items. Consumers are increasingly opting for nutraceutical snacks due to their improved texture, shelf-life, and enhanced nutritional value with added vitamins, minerals, proteins, and healthy fats.
Conventional Stores Remain Popular, Specialty Stores Witness Fastest Growth:
While conventional stores like grocery stores, mass merchandisers, and online retailers currently dominate due to accessibility and affordability, the specialty stores segment is experiencing the fastest growth. Specialty stores like bakeries, confectionery shops, and gourmet stores are catering to consumers with specific dietary needs, offering nutraceutical bakery products, gluten-free options, and other health-focused selections.
North America Leads the Market, Driven by Rising Health Awareness:
North America holds the largest market share, primarily driven by the United States. Consumers in this region are increasingly well-informed about the health benefits of ingredients like prebiotics, protein, omega-3 fatty acids, and their role in weight management. This growing awareness is expected to further propel the demand for nutraceutical products in the region.
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- Market size and forecast by product type (food, beverages, dietary supplements)
- Growth potential by Source (Probiotics, Prebiotics, & Others)
- Emerging trends and innovations in the nutraceutical space
- Competitive landscape and key players
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