The nutraceutical market constitutes the functional foods and beverages market and dietary supplements market. Consumers view of nutritional products as the key to managing health has been driving the global nutraceutical industry. The global nutraceutical market was valued at around USD 250 billion in 2014 and is expected to reach around USD 385 billion by 2020, at a CAGR of 7.5% from 2016 to 2021.
The current consumer trend is to be preventive rather than react on the health issues, which involve huge healthcare costs in developed countries. There is a shift in the consumer preference from synthetic ingredients to natural and organic ingredients and foods which are obtained from non-GMO (Genetically modified organism) extracts. Consumers prefer the nutraceutical foods to pharmaceutical drugs.
Future Scope of Nutraceutical Product Companies and Pharmaceuticals
Developing nutrients based on an individual genetics and lifestyle changes would help in developing customized functional foods and beverages, based on the genetic segment.
Major food and pharma companies are using M&A route to acquire pure-play nutraceutical companies to enter the nutraceutical market. Although, not a major revenue booster, the pharmaceutical companies find higher margins through nutraceutical products.
The nutraceutical products industry is also seeing major changes in its operations in order to meet the FDA new Dietary Supplement Current Good Manufacturing Practices (DS CGMPs). The severely limited consumer awareness in developing countries on the nutraceutical ingredients needs to be taken up by manufacturers to spread awareness about products, as people buy benefits and not ingredients.
Nutraceuticals Market Segmentation
The nutraceutical market mainly constitutes functional foods and beverages and dietary supplements. Dietary supplements are present in the form of tablets, capsules and liquids. The nutraceutical ingredients include pre-biotic and pro-biotic, vitamins, minerals, fibers, proteins, omega 3 and structured lipids, amino acids and various other ingredients. Foods fortified with omega fatty acids are expected to grow by 6.8% during the forecast period.
Nutraceutical ingredients find application right from cereals, grains, nuts, vegetables, fruits, dairy products, poultry products, sea food and confectionery items to non-alcoholic beverages like juices, energy drinks, sports drinks, etc. Few examples of functional foods are: yogurts with pro biotics, drinks with herb blends, soy beverages rich in proteins, etc. The functional food category is seeing the highest growth in energy drinks, healthy snacks and breakfast products
The spear heading nations in the global nutraceutical markets are United States, Japan, Israel and Germany. Rising consumption of dietary supplements among the baby boomer generation and booming food and beverages market is driving the US nutraceutical market which is expected to reach USD 90 billion by 2020, at a 6% CAGR. United States is still expected to dominate functional food market globally by 2020, with an expected CAGR of 8.8%. This is followed by Asia-Pacific. 47% of the Japanese population consumes nutraceutical products, which can be contributed to the growing ageing population.
Germany, Netherlands and Sweden have emerged as the key nutraceutical innovation hubs in Europe, while United Kingdom and Spain have emerged as the key test markets for new products, with the European consumers demanding energy providing products that promote healthy teeth, strong bones, prevent digestive health issues, boost immune system and lower cholesterol.
Factors Driving the Nutraceuticals Market
Lower R&D and regulatory burdens for pharmaceuticals in their nutraceutical segment, when compared to their prescription and OTC drugs.
Opportunities for the Nutraceuticals Companies
- Most companies see growth opportunities in targeting the consumers below the age group of 40 years, with about 60% interested in raising their protein intake to get through busy day, having a firm and healthier body, meeting their weight goals, and for
- Consumers aged above 60 years are unaware of the health benefits provided by nutraceutical foods and nutraceutical drinks. Companies targeting this segment can grow in this niche category.
Some of the major players in the nutraceutical ingredients market included in the report are -
1. Market analysis for the global nutraceuticals market, with region specific assessments and competition analysis on global and regional scale.
2. Market definition along with the identification of key drivers and restraints.
3. Identification of factors instrumental in changing the market scenario, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale.
4. Extensively researched competitive landscape section with profiles of major companies along with their market share.5. Identification and analysis of the macro and micro factors that affect the global wearable medical devices market on both global and regional scale.
6. A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
7. A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market.
8. Insights on the major countries/regions where this industry is blooming and to also identify the regions that are still untapped.
1.1 Key Deliverables of the study
1.2 Study Assumptions
1.3 Market Definition
2. Research Approach & Methodology
2.2 Research Designs
2.3 Study Timelines
2.4 Study Phases
2.4.1 Secondary Research
2.4.2 Discussion Guide
2.4.3 Market Engineering and Econometric Modelling
2.4.4 Expert Validation
3. Market Dynamics
3.1.1 Reduced Logistical and Storage costs
3.1.2 Increasing Use as a Sugar Substitute
3.1.3 Changing Consumer Trends and Food Preferences
3.2.1 Benefits of Whole Fruit Compared to Fruit Concentrate Drinks
3.2.2 Environmental Factors Affecting Fruit Production
3.3.1 Convenient and Economical Alternative in Various Applications
3.3.2 Rise in Demand for Healthy and Upmarket Products
4. Porter Five Forces Analyses
4.1 Bargaining Power of Suppliers
4.2 Bargaining Power of Buyers
4.3 Threat of New Entrants
4.4 Threat of Substitute Products and Services
4.5 Degree of Competition
5. Market Segmentation
5.1 By Product Type
5.1.1 Liquid Concentrate
5.1.2 Powder Concentrate
5.2 By Application
5.3 By Fruit
5.3.7 Speciality Fruits
5.4 By Geography
5.4.1 North America
18.104.22.168 United States
5.4.4 South America
22.214.171.124 South Africa
6. Competitive Landscape
6.1 Mergers & Acquisitions
6.2 Joint Ventures
6.3 New Product Launches
6.4 Most Active Companies in The Past Five Years
6.5 Market Share Analysis
7. Company Profiles
7.1 Agrana Beteiligungs Ag
7.2 China Haisheng Juice Holdings Co. Ltd.
7.4 DÃ¶hler Group
7.6 Kanegrade Ltd
7.7 Kerr Concentrates Inc.
7.8 Kerry Group
7.9 Lemon Concentrate S.L.
7.10 Pioma Industries
7.12 Rudolf Wild Gmbh & Co. Kg
7.13 Skypeople Fruit Juice Inc.
7.15 Sunopta Inc.