“Increasing awareness about the benefits of nutritional-rich products is projected to drive the growth of the nutraceutical products market.”
The global nutraceutical products market size is projected to grow from USD 267.4 billion in 2019 to USD 404.8 billion by 2025, recording a CAGR of 7.2% during the forecast period. The growth in the aging population and the rising number of chronic diseases are encouraging manufacturers to produce nutrition-rich products. Further, the increasing demand for fortified food due to their health benefits is projected to drive the growth of the nutraceutical products market. However, consumer skepticism associated with the adoption of various nutraceutical products and high costs associated with these products are facotrs projected to hinder the market growth of nutraceutical products.
“The beverage segment in the nutraceutical products market is projected to be the fastest-growing segment.”
Nutraceutical beverages such as sports drinks, energy drinks, juices, and ready-to-drink tea and coffee-based beverages are witnessing high demand due to the growing number of sports enthusiasts and inclination toward active nutrition. Moreover, the consumption of protein-based beverages is increasing due to the increasing demand among health-conscious consumers for protein-rich beverages. Furthermore, manufacturing companies are focusing on introducing new fortified functional beverages due to the increasing consumer inclination toward healthy beverages fortified with several organic and nutraceutical ingredients.
“The proteins & amino acids segment is projected to hold the largest market share during the forecast period.”
Proteins are mainly used in industrial applications due to their nutritional and functional properties. Their potential to increase nutritional levels makes them one of the key ingredients in the nutraceutical products market. Additionally, extensive R&D on proteins and the benefits of their properties have led to the identification of innovative uses in the personal care and pharmaceutical industries. Furthermore, the role of amino acids in the growth of organisms to build strong muscular tissues, development of organs, and optimal functioning of the immune system has led to their increasing usage in snacks, ready-to-eat, and convenience foods.
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“North America is projected to hold the largest market share during the forecast period.”
North America is projected to account for the largest market share during the forecast period due to the rising obesity levels in the region and increasing awareness among consumers about the health benefits of prebiotics, proteins & amino acids, omega-3 fatty acids, and their role in weight management. Moreover, increasing the health requirements of customers in the region have encouraged food and beverage manufacturers to develop enhanced nutraceutical products.
In-depth interviews were conducted with chief executive officers (CEOs), marketing directors, nutraceutical products manufacturers, and executives from various key organizations operating in the nutraceutical products market.
- By Company Type: Tier 1: 20%, Tier 2: 40%, and Tier 3: 40%
- By Designation: C-level: 30%, D-level: 20%, and Others*: 50%
- By Region: Asia Pacific: 25%, Europe: 40%, North America: 15%, South America: and Rest of World (RoW)** 20%
*Others includes sales managers, marketing managers, and product managers.
**RoW includes the Middle East and Africa.
The nutraceutical products market comprises major players such as Kraft Heinz Company (US), The Hain Celestial Group (US), Conagra (US), General Mills (US), Kellogg’s (US), Nestl? (Switzerland), Nature’s Bounty (US), Amway (US), Hero Group (US), Barilla Group (Italy), Raisio Group (Finland), Pfizer Inc. (US), and Freedom Food Group Limited (Australia). The study includes an in-depth competitive analysis of these players in the nutraceutical products market, with their company profiles, recent developments, and the key market strategies.
- The study covers the nutraceutical products market across segments. It aims at estimating the market size and its growth potential across different segments such as type, distribution channel, source, and region.
- The study also includes an in-depth competitive analysis of key players in the market; along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key Benefits of Buying the Report
- The report will help market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall nutraceutical products market and subsegments.
- This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and to plan suitable go-to-market strategies.
- The report will also help the stakeholders to understand the pulse of the market and will provide them with information on key market drivers, restraints, challenges, and opportunities.