Market Research Report
Global Nutraceuticals Market Research and Forecast 2018-2023
|Published by||Orion Market Research Pvt Ltd||Product code||409961|
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|Global Nutraceuticals Market Research and Forecast 2018-2023|
|Published: October 8, 2018||Content info:||
The market for nutraceuticals is growing at a modest rate due to emerging demand from food & beverages, pharmaceuticals, dietary supplements and other industries. The growing demand for vitamins and minerals-enriched herbal shampoos, creams and other related products will boost the market growth. Nutraceuticals market by functional foods is enriched with proteins and variety of flavors with herb blends, yogurts (probiotics) and soy. Nutraceuticals used in dietary supplements such as capsules, tablets, cream and liquids are increasingly adopted for health benefits and maintenance of healthy physique. Nutraceutical ingredients which include prebiotics, probiotics, fibers, amino acids, structured lipids Omega 3, vitamins, proteins and minerals are adopted across the globe for their utility and positive results. According to OMR analysis, global nutraceuticals market is predicted to grow at a CAGR of 7.2% during 2018-2023.
The factors driving the nutraceuticals market include rising awareness and growing demand for healthy food and dietary supplement among health-conscious individuals. With the improving standard of living the demand for healthy and nutritional food will grow significantly during the forecast period. Preference for nutritional value of the food will boost the nutraceutical market across the globe. All these factors are proving to be a good boost to the nutraceuticals market. Consumers these days are going for food that have more as an energy supplement rather than conventional eatery. This growing interest towards the composition of the foods are forcing the manufacturers to include high nutritive content. However, the high cost of the products might act as a restricting factor for the nutraceuticals market.
North America stood as a leader in terms of market share in 2017 due to significant adoption of nutraceutical products across the region. It is expected to continue as the leader during the forecast period on the geographical forefront. The key factors contributing in the growth includes rising awareness level among the inhabitants about healthy food and hazardous lifestyle diseases. Growing number of health-conscious people in North America will add to its glory. Furthermore, APAC is expected to hold the second position in terms of market share during the forecast period. APAC is expected to witness significant growth in the market due to increasing demand in countries such as China and India.
Some of the major players operating in the nutraceuticals market include BASF SE, World. Cargill, Incorporated, Royal DSM N.V., Nestle S.A., PepsiCo Inc., Archer Daniels Midland Company Aland (Jiangsu) Nutraceutical Co., Ltd., and General Mills, Inc. The underlying lucrative market opportunities are motivating these players to take strategic initiatives to stay competitive in the market. These companies are trying to expand their presence in the global nutraceuticals market by adopting various strategies such as joint ventures, M&A, partnerships, collaboration, product launch and so forth.