Nutraceuticals Market by Form, Functional Ingredient, Product, Health Benefits, Distribution Channel

List of Tables

[197 Pages Report] The Nutraceuticals Market size was estimated at USD 289.61 billion in 2023 and expected to reach USD 316.49 billion in 2024, at a CAGR 9.38% to reach USD 542.66 billion by 2030.

Nutraceuticals are a broad category of products emanating from food sources with additional health benefits and nutritional value. The term is a combination of "nutrition" and "pharmaceutical," coined to signify substances that can enhance health, delay the aging process, control chronic diseases, and support the structure or function of the body. These products range from secluded nutrients, dietary supplements, and diets to genetically arranged foods, herbal products, and processed foods, including cereals, soups, and beverages. Nutraceuticals find applications across various sectors; their implications for end-users are profound. From dietary supplements such as vitamins, minerals, herbs, and enzymes to functional foods and beverages enriched with bioactive compounds, these products target health-conscious consumers aiming for a holistic approach to wellness. The pharmaceutical and personal care sectors have also integrated nutraceutical ingredients to develop products with added health benefits. The growth of the nutraceuticals market is propelled by several key factors. Firstly, the rising awareness about health and nutrition among consumers worldwide has significantly contributed to the demand for these products. The geriatric global population and the increasing prevalence of chronic diseases have further accentuated this demand. Additionally, the shift towards preventive healthcare, coupled with seeking alternative treatments to pharmaceutical products, has bolstered the market. Despite the promising growth, the market faces several limitations and challenges, such as regulatory hurdles, competition from conventional food products and pharmaceuticals, and high product development and marketing costs. On the other hand, the nutraceuticals market presents numerous opportunities, including growing interest in plant-based and organic products spurred by the vegan and vegetarian movement, exploration of novel bioactive compounds with specific health benefits, and partnerships between food technology startups and established players in the pharmaceutical and food and beverage sectors.

KEY MARKET STATISTICS
Base Year [2023]	USD 289.61 billion
Estimated Year [2024]	USD 316.49 billion
Forecast Year [2030]	USD 542.66 billion
CAGR (%)	9.38%

Functional Ingredient: Increasing preference for vitamins for overall health

Vitamins are essential for overall health, each serving unique roles, from supporting immune function to enhancing skin health. With growing health awareness, consumers increasingly seek personalized vitamin solutions tailored to specific health concerns and life stages. Carotenoids are organic pigments discovered in plants, algae, and photosynthetic bacteria. They are critical for human health as antioxidants and precursors to vitamin A, vital for vision and immune function. Consumers often seek out carotenoids for their potential to reduce the risk of certain diseases, including some forms of cancer and eye disease. Dietary fibers are essential for digestive health, aiding bowel regularity and promoting a healthy gut microbiome. They are separated into soluble and insoluble fibers. Consumers increasingly seek dietary fibers to manage weight and reduce the chance of diabetes and heart disease. Fatty acids, particularly omega-3 and omega-6, are crucial for maintaining heart health and supporting mental functioning. The market shows a marked preference for plant-based and marine sources of omega-3, driven by concerns over sustainability and dietary restrictions. Minerals, including calcium, magnesium, and iron, are indispensable for bone health, energy production, and oxygen transport. The demand is driven by an increasing awareness of mineral deficiencies and their impact on health. The gut health trend continues to surge, with prebiotics and probiotics at the forefront. Prebiotics nourish beneficial gut bacteria, while probiotics contain live organisms to replenish or balance the gut microbiome. Both are sought for digestive health, immunity, and even mental wellness.

Distribution Channel: Rising demand of online distribution channel due to wide variety of products and competitive pricing

Traditional brick-and-mortar establishments, including health stores, pharmacies, and supermarkets, remain essential, offering consumers tactile interaction and immediate purchase benefits, while direct sales leverage personal relationships for product distribution. Concurrently, the healthcare practitioner segment flourishes by integrating nutraceuticals into holistic health regimes, capitalizing on patient trust. In contrast, the online distribution channel has witnessed exponential growth, driven by technological advancements and changing consumer behaviors. Key components include eCommerce platforms, social media & influencer marketing. Online retailers and eCommerce platforms have become increasingly significant in the distribution of nutraceuticals offering a wide variety of products, competitive pricing, and the convenience of home delivery.

Regional Insights

The Americas, particularly the United States, remains a significant and mature nutraceutical market. This region is characterized by high consumer awareness, a strong preference for preventive healthcare, and a robust regulatory framework spearheaded by the FDA in the U.S. The demand in South America is growing, particularly in Brazil and Argentina, driven by an increasing middle class and heightened health awareness. There is a growing trend towards vegan and plant-based diets, driving the demand for plant-based nutraceutical products. In the U.S., the FDA regulates nutraceuticals under dietary supplements, requiring compliance with specific labeling and manufacturing practices. This region presents a diverse market due to different regulatory, cultural, and economic landscapes across countries. Europe is a leader in the nutraceuticals market, boasting rigorous regulatory standards and high consumer interest in wellness and natural products. The Middle East and Africa are emerging markets with significant growth potential, driven by an expanding middle class and an increasing focus on health and wellness. APAC is the fastest-growing region in the nutraceuticals market, driven by a growing population, rising disposable income, and increasing consumer health consciousness. Countries such as China, Japan, and India are significantly growing the market, each with unique consumer preferences and regulatory landscapes. The region has seen a significant rise in online sales channels for nutraceuticals, facilitated by wide internet penetration and digital literacy.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Nutraceuticals Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Nutraceuticals Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the Nutraceuticals Market, highlighting leading vendors and their innovative profiles. These include Ajinomoto Co., Inc., Amway Corporation, Archer Daniels Midland Company, Associated British Foods PLC, Balchem Corporation, Barentz International B.V., BASF SE, BIONAP S.R.L., Cargill Incorporated, Chr. Hansen Holding A/S, Danone S.A., Divi's Laboratories Limited, DuPont de Nemours, Inc., Fonterra Co-Operative Group Limited, Glanbia PLC, Ingredion Incorporated, Kerry Group PLC, Koninklijke DSM N.V., Kyowa Kirin Co., Ltd., Lonza Group, Martin Bauer Group, Nestle S.A., Pfizer Inc., Sydler India Pvt. Ltd., and ZIVO Bioscience, Inc..

Market Segmentation & Coverage

This research report categorizes the Nutraceuticals Market to forecast the revenues and analyze trends in each of the following sub-markets:

Form
- Dry
- Liquid

Functional Ingredient
- Carotenoids
- Dietary Fibers
- Fatty Acids
- Minerals
- Prebiotics & Probiotics
- Vitamins

Product
- Dietary Supplements
- Functional Beverages
  - Dairy & Dairy Alternative Beverage
  - Energy Drink
  - Fortified Juice
  - Sports Drink

Functional Foods
- Bakery and Confectionary
- Cereal
- Dairy
- Snack

Health Benefits
- Bone Health
- Cognitive Health
- Gut Health
- Heart Health
- Immunity
- Nutrition
- Weigh Management

Distribution Channel
- Offline
- Online

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.

2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.

3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.

4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.

5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the Nutraceuticals Market?

2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Nutraceuticals Market?

3. What are the technology trends and regulatory frameworks in the Nutraceuticals Market?

4. What is the market share of the leading vendors in the Nutraceuticals Market?

5. Which modes and strategic moves are suitable for entering the Nutraceuticals Market?

Product Code: MRR-4316E4E893C2

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Growing consumer inclination toward preventive healthcare
  - 5.1.1.2. Increasing demand for natural and organic products
  - 5.1.1.3. Expanding eCommerce platforms for easy accessibility of nutraceuticals
- 5.1.2. Restraints
  - 5.1.2.1. Issues associated with the safety and efficacy of certain nutraceutical products
- 5.1.3. Opportunities
  - 5.1.3.1. Ongoing innovation in nutraceutical product formulations
  - 5.1.3.2. Growing interest in plant-based and organic products, spurred by the vegan movement
- 5.1.4. Challenges
  - 5.1.4.1. Stringent regulatory requirements for nutraceutical products
5.2. Market Segmentation Analysis
- 5.2.1. Functional Ingredient: Increasing preference for vitamins for overall health
- 5.2.2. Distribution Channel: Rising demand of online distribution channel due to wide variety of products and competitive pricing
5.3. Market Trend Analysis
5.4. Cumulative Impact of High Inflation
5.5. Porter's Five Forces Analysis
- 5.5.1. Threat of New Entrants
- 5.5.2. Threat of Substitutes
- 5.5.3. Bargaining Power of Customers
- 5.5.4. Bargaining Power of Suppliers
- 5.5.5. Industry Rivalry
5.6. Value Chain & Critical Path Analysis
5.7. Regulatory Framework Analysis

6. Nutraceuticals Market, by Form

6.1. Introduction
6.2. Dry
6.3. Liquid

7. Nutraceuticals Market, by Functional Ingredient

7.1. Introduction
7.2. Carotenoids
7.3. Dietary Fibers
7.4. Fatty Acids
7.5. Minerals
7.6. Prebiotics & Probiotics
7.7. Vitamins

8. Nutraceuticals Market, by Product

8.1. Introduction
8.2. Dietary Supplements
8.3. Functional Beverages
8.4. Functional Foods

9. Nutraceuticals Market, by Health Benefits

9.1. Introduction
9.2. Bone Health
9.3. Cognitive Health
9.4. Gut Health
9.5. Heart Health
9.6. Immunity
9.7. Nutrition
9.8. Weigh Management

10. Nutraceuticals Market, by Distribution Channel

10.1. Introduction
10.2. Offline
10.3. Online

11. Americas Nutraceuticals Market

11.1. Introduction
11.2. Argentina
11.3. Brazil
11.4. Canada
11.5. Mexico
11.6. United States

12. Asia-Pacific Nutraceuticals Market

12.1. Introduction
12.2. Australia
12.3. China
12.4. India
12.5. Indonesia
12.6. Japan
12.7. Malaysia
12.8. Philippines
12.9. Singapore
12.10. South Korea
12.11. Taiwan
12.12. Thailand
12.13. Vietnam

13. Europe, Middle East & Africa Nutraceuticals Market

13.1. Introduction
13.2. Denmark
13.3. Egypt
13.4. Finland
13.5. France
13.6. Germany
13.7. Israel
13.8. Italy
13.9. Netherlands
13.10. Nigeria
13.11. Norway
13.12. Poland
13.13. Qatar
13.14. Russia
13.15. Saudi Arabia
13.16. South Africa
13.17. Spain
13.18. Sweden
13.19. Switzerland
13.20. Turkey
13.21. United Arab Emirates
13.22. United Kingdom

14. Competitive Landscape

14.1. Market Share Analysis, 2023
14.2. FPNV Positioning Matrix, 2023
14.3. Competitive Scenario Analysis
- 14.3.1. Hempacco Co. Inc. Enhances Manufacturing and Market Position Through Strategic Acquisition of Covalent CBD Assets
- 14.3.2. Strengthera, a Novel Botanical Compound Enhancing Muscle Function in Seniors
- 14.3.3. Lubrizol Corporation Secures EU Food-Grade Approval for Carbopol Polymers, Enhancing Nutraceutical Product Development

15. Competitive Portfolio

15.1. Key Company Profiles
15.2. Key Product Portfolio