The global nutraceuticals market reached a value of US$ 266 Billion in 2018, registering a CAGR of nearly 6% during 2011-2018. Nutraceuticals are products that provide additional nutrition and health advantages to the human body. They contain fortified nutrients, such as CoQ10, taurine, omega-3, antioxidants, calcium and zinc, which improve the overall health of consumers. These nutrients also help in averting medical conditions like diabetes, hypertension, allergies and heart diseases. As nutraceuticals enhance the immune and digestive systems and improve the cognitive behavior of consumers, their demand is being spurred on the global level.
- Due to the prevalence of lifestyle diseases and the growing geriatric population, consumers across the globe are becoming health-conscious. They are now shifting from chemically derived products to preventive healthcare items like nutraceuticals that contain safer, natural and healthier ingredients. Further, the industry has attained maturity in developed economies like the United States. As a result, international manufacturers are now diversifying their businesses to developing regions so as to expand their consumer base. This shift is further being facilitated by rapid urbanization, increasing western influence, growing middle-class population and inflating income levels of consumers in these countries. Apart from this, the thriving e-commerce industry, in confluence with rising consumer awareness, is also contributing to the growth of the nutraceuticals market. Looking forward, the market is projected to reach a value of US$ 403 Billion by 2024, growing at a CAGR of around 7% during 2019-2024.
Breakup by Product:
- On the basis of products, the market has been bifurcated into personalized foods and beverages. Some of the popularly consumed personalized foods include dairy products, confectionery, bakery products, oil and fats, snack bars, and other products. On the other hand, widely preferred personalized beverages include nutrient-enhanced water drinks, juices, energy and sports drinks, and RTD tea.
Breakup by Indication:
- Based on indications, the market has been classified into the digestive and immune, energy and alertness, heart, bone and joint, cognitive, and beauty health segments. At present, products for enhancing digestive and immune health dominate the market.
- On the geographical front, the United States enjoys the leading position in the market on account of the growing population in the country driven by greater longevity and net migratory inflow. Other major regions include Germany, the United Kingdom, France, Spain, Italy, Japan, China, Russia, India, Brazil and Mexico.
- PepsiCo Inc.
- Coca Cola
- Yakult Honsha
- Kirin Brewery
Key Questions Answered in This Report:
- How has the global nutraceuticals market performed so far and how will it perform in the coming years?
- What are the key regions in the global nutraceuticals market?
- What are the main indications in the global nutraceuticals market?
- Which are the popular product types in the global nutraceuticals market?
- What are the various stages in the value chain of the global nutraceuticals market?
- What are the key driving factors and challenges in the global nutraceuticals market?
- What is the structure of the global nutraceuticals market and who are the key players?
- What is the degree of competition in the global nutraceuticals market?
- How are nutraceuticals manufactured?