Nutraceuticals Market Size, Share And Analysis Report, 2024

IMARC Group has recently released a new research study titled “Nutraceuticals Market Report: COQ10, Probiotics/Prebiotics, Taurine, Omega-3, Green Tea, Antioxidants, Calcium, Lycopene, B-Complex, Dietary Fiber, Collagen, Aloe Vera and Zinc”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios.

The global nutraceuticals market size reached US$ 468.5 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 856.3 Billion by 2032, exhibiting a growth rate (CAGR) of 6.7% during 2024-2032.

Global Nutraceuticals Market Trends:

The increasing focus on sustainability, boosting the demand for nutraceutical products that are beneficial to health and produced through sustainable and ethical means, is fueling the market growth.

Additionally, rapid innovations in eco-friendly packaging, such as biodegradable or recyclable materials, to reduce the environmental footprint of nutraceutical products is catalyzing the market growth. Besides this, the burgeoning integration of digital platforms and mobile apps to provide personalized recommendations based on individual health data, dietary preferences, and lifestyle choices is enhancing the market growth.

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Factors Affecting the Growth of the Nutraceuticals Industry:

·         Rising Health Awareness and Preventive Healthcare Trends:

The increasing awareness of health and wellness is a major driver boosting the market growth.

Moreover, the growing proactiveness among consumers about their health, encouraging them to seek ways to prevent diseases rather than merely treating them, is fueling the market growth. In line with this, the ongoing shift towards preventive healthcare, spurring demand for nutraceuticals, which are viewed as effective supplements that can support overall health and well-being, is fostering the market growth. They include dietary supplements, functional foods, and beverages and offer various health benefits such as boosting immunity, improving digestion, and enhancing cognitive functions.

·         Rapid Technological Advancements and Product Innovation:

The development of new and improved delivery systems, such as nanoencapsulation and controlled-release mechanisms that enhance the bioavailability and efficacy of nutraceuticals, is positively influencing the market growth.

Furthermore, the ongoing research and development (R&D) efforts, leading to the discovery of novel ingredients and formulations that cater to specific health needs, such as cardiovascular health, weight management, and mental wellness, are bolstering the market growth. Apart from this, the introduction of personalized nutrition, which tailor’s nutraceutical products to individual genetic profiles, dietary habits, and health conditions, is contributing to the market growth.

·         Increasing Regulatory Support and Market Expansion:

The growing recognition of the health benefits of nutraceuticals by governments and regulatory bodies in various countries, prompting them to establish frameworks that ensure their safety and efficacy, is acting as a growth-inducing factor. In addition to this, the widespread expansion of the nutraceuticals market in emerging economies, owing to the increasing disposable incomes, and changing lifestyles, is creating a positive outlook for the market. These regions offer substantial growth opportunities due to their large populations and rising health consciousness among consumers. Along with this, the rising presence of multinational companies that leverage local partnerships and distribution networks to expand their reach is fueling the market growth.

Nutraceuticals Market Report Segmentation:

By Product:

Personalized Foods

·         Bakery Products

·         Confectionery

·         Dairy Products

·         Oil & Fats

·         Snack Bars

·         Other Foods

Personalized Beverages

·         Chocolate Based FP Drinks

·         Bottled Water

·         Concentrates

·         Energy Drinks

·         Fruit Vegetable Juices

·         RTD Tea

·         Sports Drinks

Others

On the basis of product, the market has been divided into personalized foods (bakery products, confectionery, dairy products, oil & fats, snack bars, and other foods) and personalized beverages (chocolate-based FP drinks, bottled water, concentrates, energy drinks, fruit vegetable juices, RTD tea, sports drinks, and others).

By Indication:

·         Digestive and Immune Health

·         Energy & Alertness Health

·         Heart Health

·         Bone & Joint

·         Cognitive Health

·         Beauty Health

Digestive and immune health represented the largest segment owing to the growing consumer focus on gut health and immunity.

Regional Insights:

·         United States

·         Germany

·         United Kingdom

·         France

·         Spain

·         Italy

·         Japan

·         China

·         Russia

·         India

·         Brazil

·         Mexico

United States’s dominance in the nutraceuticals market is attributed to its well-established healthcare infrastructure, high consumer awareness, and significant disposable income.

Competitive Landscape with Key Players:

The competitive landscape of the nutraceuticals market size has been studied in the report with the detailed profiles of the key players operating in the market.

Some of These Key Players Include:

·         Danone

·         Kirin Holdings Company Limited

·         Mondelez International Inc.

·         Morinaga Milk Industry Co. Ltd.

·         Nestle

·         Otsuka Pharmaceutical Co. Ltd.

·         PepsiCo Inc.

·         The Coca-Cola Company

·         Yakult Honsha Company Limited

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Key Highlights of the Report:

·         Market Performance (2018-2023)

·         Market Outlook (2024-2032)

·         Market Trends

·         Market Drivers and Success Factors

·         Impact of COVID-19

·         Value Chain Analysis

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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