Nutraceuticals Market Size Worth Around US$314.2 Bn by 2030

According to Precedence Research, the global nutraceuticals market size is expected to be worth around US$314.2 billion by 2030, growing at a CAGR of 7.1%

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OTTAWA, June 17, 2021 (GLOBE NEWSWIRE) -- The global nutraceuticals market size was valued at US$ 160.3 billion in 2020. Nutraceuticals refers to the specific food products which offer various health benefits along with the base nutritious values of the food products. Nutraceuticals are gaining huge attraction in the recent years as it helps to prevent numbers of diseases. Growth in the awareness among the individuals across the globe is fuelling demand for the nutraceuticals. Major components of the nutraceuticals include dietary supplements and functional food as well as beverages. Nutraceuticals is an approach to prevent the diseases. Also, outbreak of COVID-19 can have positive impact on the demand as well as supply of the nutraceuticals, as the increasing need to propel the immunity in the young as well as old age population is creating huge demand for the dietary supplements and various functional foods across the world.

  • History Year: 2017-2020
  • Base Year: 2020
  • Forecast Year 2021 to 2027

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What are the growth factors of nutraceuticals market?

  • Increasing demand for the functional food or fortified food among the global population
  • The continuously focusing and embossing the regulatory mandates for the food fortification
  • Increasing immunity by consuming fortified food products
  • Growth in prevalence of the chronic diseases
  • High costs associated with the fortification of the food
  • Emerging application of the nutraceuticals will support revenue growth

Major highlights of report:

  • Figures related to sales volume, market remuneration, and segmental shares
  • Featuring market dynamics
  • Growth prospects and expansion graph
  • PROCON study of direct & indirect sales channels
  • Profiles of prominent traders, dealer, and distributors in the industry

Report Highlights:

  • North America will dominate the global industry due to rising demand for fortified food and stringent government regulations in the U.S. and Canada of the North America.
  • Asia Pacific is likely to list the noteworthy CAGR, growing health concerns among consumers and increasing awareness regarding nutraceuticals. Additionally, growth in the aging population, changing spending patterns on healthcare products, and changing lifestyles has enhanced the growth of the nutraceutical industry in Asia Pacific.
  • In 2020, the functional beverages segment accounted the largest revenue share. Technological upgradation, coupled with product development, is projected to drive the functional beverage industry over the coming years.
  • The omega-3 fatty acids-based functional foods market size is projected to hit USD 39 million by 2027, growing at a CAGR of 9.5% from 2027 to 2027.

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Market Segments: This part of the report discusses about product type, form type of the research department explosive market based on market share, CAGR, market size, and various other factors.

Key Players: Here, the report throws light on financial ratios, pricing structure, production cost, gross profit, sales volume, revenue, and gross margin of leading and prominent companies competing in the Research department explosive market.

Executive Summary: It includes key trends of the research department explosive market related to products, form type, and other crucial factors. It also provides analysis of the competitive landscape and CAGR and market size of the research department explosive market based on production and revenue.

Key Market Players and Strategies:

The major companies functioning in the worldwide nutraceuticals are Archer Daniels Midland Company, General Mills, Inc. E. I. du Pont de Nemours and Company, Aland (Jiangsu) Nutraceutical Co., Ltd. BASF SE, Cargill, Incorporated, Royal DSM N.V. Groupe Danone S.A. Nestle S.A. and PepsiCo Inc. among others. Enormous investment in the study of the nutraceuticals accompanied by strategic collaborations like as mergers, company acquisitions are business approaches commenced by the major companies in the nutraceuticals market. For instance, in 2019, Amway a leading company launched new Nutrilite product which was DHA yummies. This product supports nutrition of omega-3 fatty acids as well as vitamin D. Further, in year 2018 the same company launched Nutrilite herbal products including tulsi, vibhitaki, haritaki, Nutriliteamalakai.

Major Market Segments Covered:

By Type

  • Dietary Supplements
    • Proteins & Peptides
    • Vitamins & Minerals
    • Herbals (Ayurveda Extracts, Plant Extracts, Algal Extracts, Phytochemicals)
    • Others (Fatty Acids and Fiber)
  • Functional Beverages
    • Fruit & Vegetable Juices and Drinks
    • Dairy & Dairy Alternative Drinks
    • Noncarbonated Drinks (Bottled Water, Tea, and Coffee)
    • Other (Herbal Tea, Sports Drinks, and Energy Drinks)
  • Functional Food
    • Probiotics Fortified Food
    • Omega Fatty Acid Fortified Food
    • Branded Ionized Salt
    • Branded Wheat Flour Market
    • Other Functional Food
  • Personal Care

By Form

  • Capsules
  • Liquid & Gummies
  • Tablets & Soft Gels
  • Powder
  • Others

By Geography

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • United Kingdom
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Rest of Latin America
  • Middle East & Africa (MEA)
    • GCC
    • North Africa
    • South Africa
    • Rest of Middle East & Africa

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