Rising demand towards healthy and nutritive nutraceutical products is projected to escalate the global market at a CAGR of 7.1%
Latest market study on “Global Nutraceuticals Market to 2027 - Analysis and Forecasts by Type (Functional Food, Functional Beverages, Dietary Supplements, Personal Care and Pharmaceuticals; Application (General Wellness, Beauty and Anti-Aging, Weight Management, Digestive Health, Sports and Energy), and Geography ”, The global nutraceuticals market, accounted for US$ 252,535.4 Mn in 2018 and is expected to grow at a CAGR of 7.1% during the forecast period 2019 - 2027, to account to US$ 465,709.8 Mn by 2027. The report include key understanding on the driving factors of this growth and also highlights the prominent players in the market and their developments.
On the basis of application, the nutraceuticals market is categorized into General Wellness, Beauty and Anti-Aging, Weight Management, Digestive Health, Sports and Energy. In 2018, the general wellness segment leads the global nutraceuticals market. Nutraceuticals has increasingly been recognized by health professionals as a healthy product which are helpful in preventing the risk of coronary heart diseases, high and low blood pressure, tumor incidence, insomnia, cancer, and depression, among others. Nutraceuticals provide healthy ingredients which contain vitamins and minerals, carbohydrates, and other essential ingredients, which aids in maintaining individual’s health. It is also being used to reduce the levels of cholesterol that eventually leads to a healthy state of heart.
The consumers in most of the developed and developing countries in North America, Europe, and Asia-Pacific such as the United States, Canada, Germany, France, UK, China and India, among others are quite concern regarding maintenance of healthy life style and healthy diet or food habits. There is a growing demand for low fat and nutritive food & beverages owing to changing lifestyles and rising health consciousness, which in turn is driving the nutraceuticals market growth. The rising demand for functional food and beverages, among the consumers globally is expected to fuel the market growth for nutraceuticals market. The rich nutritional profile and various health benefits such as anti-aging, antioxidants, muscle growth and other attributes have favored the global market to a larger extend. Some of the industry players including Amway, Herbalife International of America, Inc., Nestle SA, Danone SA, and The Nature’s Bounty Co., among others, are offering healthy and nutritive nutraceutical products. Manufacturers of are targeting consumers with the inclusion of low-calorie, low fats, and healthy ingredients in their product portfolios to boost sales in a stagnant and matured market, which in turn influencing the market for nutraceuticals.
The market for global nutraceuticals is concentrated with some very well-established players. Some of the key players in the global nutraceuticals market are Herbalife International of America, Inc., Danone SA, Nestle SA, Amway, The Nature’s Bounty Co., GlaxoSmithKline plc. Helion Nutraceuticals, Abbott, among others.
Global Nutraceuticals Market - By Region Breakdown, 2018