Global Nutraceuticals Market 2022-2028

Global Nutraceuticals Market Size, Share & Trends Analysis by Product Type (Functional Food, Functional Beverages, And Dietary Supplements), By Distribution Channel (Retail Supermarkets and Online Distribution), Forecast Period (2022-2028)

The global Nutraceuticals market is anticipated to grow at a significant CAGR of 9.7% during the forecast period. Global rise in the incidence and prevalence rate of chronic diseases and increasing healthcare cost created significant awareness for the nutraceuticals market. Chronic diseases such as heart disease, cancer, diabetes, stroke, and arthritis have been on the rise, in recent times. For instance, according to the WHO (World Health Organization), by 2040, the global burden is expected to grow to 27.5 million new cancer cases and 16.3 million cancer deaths simply due to the growth and aging of the population. Nutraceuticals are gaining popularity among customers owing to their potential nutritional, and therapeutic effects. Globally, the rise in consumer awareness regarding health benefits associated with nutraceuticals, such as benefits against nutritionally induced acute and chronic diseases to promote optimal health, longevity, and quality of life fuels the demand for nutraceuticals.

The global nutraceuticals market is segmented on the basis of product type and distribution channel. Based on the product type, the market is further segmented into functional food, functional beverages, and dietary supplements. Functional foods which include probiotics fortified food, iodized salt, and omega fatty acid-based foods are anticipated to hold the dominant share in the market. Increasing demand for fortifying food additives is estimated to drive the segmental growth of the market. Food manufacturers are deploying fortification of nutritional additives such as omega-3 fatty acids, vitamins, and minerals in their products to increase the nutritional content of food items. The functional ingredients such as omega-3 and probiotics are widely used in fish oils and yogurt for reducing cardiovascular risks and improving the quality of intestinal microflora. Based on the distribution channel, the market is segmented into retail supermarkets and online distribution.

The global Nutraceuticals market is further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East &Africa, and Latin America). The market can be analyzed for a particular region or country level as per the requirement. Among these, the Asia-Pacific regional market is expected to cater to considerable growth during the forecast period. Increasing awareness regarding health in countries such as China and India is expected to remain a favorable factor for the Asia-Pacific nutraceuticals industry growth. In addition, the rise in the prevalence of chronic diseases prompts the need for nutraceuticals and other vital dietary supplements, which drives the regional growth of the market.

The major companies serving the global nutraceuticals market include Danone SA, Glanbia PLC, Nestlé S.A., and The Kraft Heinz Company. The players have adopted various developmental strategies for expanding their market share, increasing profitability, and remaining competitive in the market. For instance, in January 2019, Danone S.A introduced several plant-based innovations with ‘Silk Oat Yeah’, responding to major trends and lifestyle choices and occasions, from oats and low sugar, to on-the-go formats and indulgent treats.

Research Methodology

The market study of the global Nutraceuticals market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to break down the market into various segments, and derive the total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives as possible, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.

Secondary Sources Include

• Financial reports of companies involved in the market.
• Whitepapers, research papers, and news blogs.
• Company websites and their product catalog.

The report provides an in-depth analysis of the market size, and intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models.

Market Segmentation

1. Global Nutraceuticals Market Research and Analysis by Product Type
2. Global Nutraceuticals Market Research and Analysis by Distribution Channel

The Report Covers

• Comprehensive research methodology of the global Nutraceuticals market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the Nutraceuticals market.
• Insights about market determinants that are stimulating the global Nutraceuticals market.
• Detailed and extensive market segments with the regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.