Global Nutraceutical Products Market – Industry Trends and Forecast to 2029

Global Nutraceutical Products Market By Type (Food , Beverages, Dietary Supplements), Distribution Channel (Conventional Stores, Specialty Stores, Drugstores & Pharmacies), Source (Probiotics, Proteins & Amino Acids, Phytochemicals & Plant Extracts, Fibers & Specialty Carbohydrates, Omega-3 Fatty Acids, Vitamins, Prebiotics, Carotenoids, Minerals, Others), – Industry Trends and Forecast to 2029

Market Analysis and Size

Micronutrients are vitamins and minerals that our bodies require. These micronutrients nourish the body and keep it healthy. The rise in health consciousness is fuelling the expansion of the nutraceutical products market.

Data Bridge Market Research analyses that the nutraceutical products market was valued at USD 401.4 billion in 2020 and is expected to reach the value of USD 715.89 billion by 2029, at a CAGR of 7.50% during the forecast period of 2022-2029.

Market Definition

Nutraceutical products are fortified food products that act as supplements in treating and preventing diseases. Nutraceuticals are a combination of nutrition and pharmaceuticals. However, these products are not as thoroughly tested and regulated as pharmaceutical drugs. Cold, cough, digestion, sleeping disorders, osteoporosis, cholesterol control, depression, and diabetes are all treated with nutraceutical products.

Report scope and market Segmentation

Nutraceutical Products Market Dynamics

Drivers

• The increasing prevalence of chronic diseases around the world

The increasing prevalence of chronic diseases such as diabetes, cholesterol, and obesity, among others, can be attributed to the strong growth of nutraceutical products. Furthermore, the growing geriatric population and the growing demand for alternative pharmaceutical products contribute to the growth of nutraceutical products.

• Benefits of consuming nutraceutical products as well as growing per capita income

Growing consumer fitness and health awareness, as well as increased demand for on-the-go snacks fortified with nutritional food, all contribute to the growth of the nutraceutical products market. A variety of nutraceuticals have demonstrated significant benefits in oxidative stress-related indications such as allergy, cardiovascular disease, eye conditions, Alzheimer's disease, obesity, and Parkinson's disease, thereby contributing to the growth of the nutraceutical products market. Higher disposable income and rising consumer preference for functional food products are driving market growth.

Opportunity

Rise in favourable rules and regulatory scenario is the major driver escalating market growth; also, increase in population, increase in disposable income and rise in demand for nutritional by products are the major factors driving the nutraceutical products market growth, among others. Furthermore, an increase in market research and development activities, as well as technological advancements and modernization in production techniques, will create new opportunities for nutraceutical products market manufacturers during the forecast period.

Restraints

However, unavailability of sufficient raw materials and price volatility in plant extracts are the major factors acting as restraints, and will further challenge the growth of nutraceutical products market in the forecast period.

This nutraceutical products market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the nutraceutical products market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Nutraceutical Products Market

Following the outbreak of COVID-19, the global nutraceuticals market is expected to grow steadily, as these are food ingredients that provide medical or health benefits to prevent diseases and boost the overall immune system. The increased consumer education levels and the rise in health concerns among consumers during this pandemic increased the demand for nutraceutical products worldwide. Furthermore, the pandemic is a cornerstone of poor nutrition, invalid claims, and clever marketing claims phrases that may have misled consumers from the beginning to the end.

Recent Developments

• General Mills launched a new snack brand called Good Measure in May 2021, specifically designed to not spike the blood sugar of the person snacking. There are currently two Good Measure products: creamy nut butter bars and crunchy almond crisps. The bars come in a variety of flavours, including Blueberry & Almond, Peanut & Dark Chocolate, and Almond & Dark Chocolate.
• Nestle China launched its first functional food for adults and expanded its toddler range in October 2020. It introduced a milk powder containing glucosamine sulphate to help bone density.

Global Nutraceutical Products Market Scope

The nutraceutical products market is segmented on the basis of type, distribution channel and source. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

• Food
• Snacks
• Confectionery products
• Bakery products
• Dairy products
• Infant products
• Beverages
• Health drinks
• Energy drinks
• Juices
• Dietary Supplements
• Tablets
• Liquid
• Powder
• Others

Distribution channel

• Conventional Stores
• Grocery stores
• Mass merchandisers
• Warehouses clubs
• Online retailers
• Specialty Stores
• Bakery stores
• Confectionery stores
• Gourmet stores
• Health centres
• Cosmetic stores
• Drugstores & Pharmacies

Source

• Probiotics
• Proteins & Amino Acids
• Phytochemicals & Plant Extracts
• Fibers & Specialty Carbohydrates
• Omega-3 Fatty Acids
• Vitamins
• Prebiotics
• Carotenoids
• Minerals
• Others

Nutraceutical Products Market Regional Analysis/Insights

The nutraceutical products market is analysed and market size insights and trends are provided by country, type, distribution channel and source as referenced above.

The countries covered in the nutraceutical products market report are U.S., Canada and Mexico in North America, Germany, Sweden, Poland, Denmark, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the nutraceutical products market due to rising disposable income and obesity rates in the region. Between 2022 and 2029, the Asia-Pacific region is expected to grow as the prevalence of chronic diseases such as diabetes, cholesterol, and obesity rises.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Nutraceutical Products Market Share Analysis

The nutraceutical products market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to nutraceutical products market.

Some of the major players operating in the nutraceutical products market are:

• Cargill Incorporated (US)
• ADM (US)
• Dupont (US)
• Evonik (Germany)
• BASF SE (Germany)
• DSM (Netherlands)
• Ajinomoto Co., Inc. (Japan)
• Novozymes (Denmark)
• Chr. Hansen Holding A/S (Denmark)
• TEGASA (Spain)
• Nutreco (Netherlands)
• Kemin Industries Inc. (US)
• Adisseo (France)
• Alltech (US)
• Palital Feed Additives B.V. (Netherlands)
• Global Nutrition International (France)
• Centafarm SRL (Italy)
• Bentoli (US)
• NUQO Feed Additives (France)
• Novus International (US)