Nutraceuticals Product Market

"Nutraceuticals product Market is valued at USD 308.62 Billion in 2021 and expected to reach USD 509.02 Billion by 2028 with the CAGR of 7.41% over the forecast period."

Rising trend towards prevalence of chronic diseases like diabetes, cancer, inflammatory and Parkinson's diseases as well as obesity with increasing ageing population are some key factors responsible for the growing demand of Nutraceuticals products market.

Scope:

Nutraceutical is a combination of two words “nutrition” and “pharmaceutics.” Nutraceuticals products are substances that have many health benefits and used as medicine to improve health, delay the aging process, increase life expectancy, prevent chronic diseases, and support the structure and function of the body. Nutraceuticals have potential nutritional, safety and therapeutic effects and show promising health aids in various complications such as on hard curative disorders related to oxidative stress including allergy, Alzheimer's, cardiovascular, cancer, diabetes, and eye, immune, inflammatory and Parkinson's diseases as well as obesity. According to the NCBI study, the market of the Nutraceuticals products market is expanding exponentially and would reach around USD 250 billion by 2018 globally. Nutraceuticals product includes yogurts and fortified breakfast cereals, vitamins, herbal remedies, and even genetically modified foods and supplements like Green Tea, Omega-3 fatty acids, etc. phytochemicals, functional foods, and nutritional supplements which provide nutritional value as similar to conventional food.

Nutraceuticals product market report is segmented on the basis of product type, distribution channel, and by regional & country level. Based upon product type, Nutraceuticals product market is classified into functional foods, functional beverages and supplementary diets, and others. Based upon functional foods market is sub classified into cereals, bakery products, dairy products, snacks and others. The functional beverages are sub classified as fortifies juice, energy drinks, sports drink, and others. Based upon the supplementary diets, the market is sub segmented into vitamins and minerals, fatty acids, Fiber & Speciality carbohydrates, enzymes, proteins and other. According to (NCBI) in 2016, Vitamins are the most commonly consumed product used by 57% of Canadians, followed by 15% usage of Echinacea and 11% of other herbal, fungal or algal vitamin products. Based upon the distribution channel, the Nutraceuticals products are classified as conventional stores, specialty store, and drugstore & pharmacies.

The regions covered in this Nutraceuticals product market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of image-based cytometer is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.

Companies:

Nutraceutical product market report covers prominent players,

• Kraft Heinz Company
• AOR
• Archer Daniels Midland Company
• BASF SE
• Aneva Nutraceuticals Ltd.
• The Hain Celestial Group
• Conagra
• General Mills
• Kellogg's
• Nestle
• Nature's Bounty
• Amway
• Hero Group
• Barilla
• Others

Segmentation:

By Product Type analysis

• Functional foods

  • cereals
  • bakery products
  • dairy products
  • snacks
  • Others

• Functional beverages

  • Fortifies juice
  • Energy drinks
  • Sports drink
  • Others

• Supplementary diets

  • Vitamins and minerals
  • Fatty acids
  • Fiber & Specialty Carbohydrates,
  • Enzymes
  • Proteins
  • Others

By Distribution channel Type analysis

• Conventional Stores
• Specialty Store
• Drugstore & Pharmacies

By Regional & Country Analysis

North America

• U.S.
• Canada

Europe

• Germany
• France
• U.K.
• Italy
• Spain
• Sweden
• Netherland
• Turkey
• Switzerland
• Belgium
• Rest of Europe

Asia-Pacific

• South Korea
• Japan
• China
• India
• Australia
• Philippines
• Singapore
• Malaysia
• Thailand
• Indonesia
• Rest Of APAC

Latin America

• Mexico
• Colombia
• Brazil
• Argentina
• Peru
• Rest of South America

Middle East and Africa

• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest Of MEA

Market Dynamics:

The growing need for nutraceutical products to the diabetic patient, chronic disease,   as well as due to surge in both the aging and geriatric population with increasing health awareness is responsible for the growth of self-care nutritional products. According to the UN department of economic and social affairs, by 2050 the urban population of developing countries will reach 5.3 billion, with Asia expected to host 63% approximately 3.3 billion people and Africa nearly 20% of the world’s urban population. Due to increasing such geriatric population, the demand for nutraceuticals has tremendously risen for diabetic patients intended for the prevention purpose. According to the World Health Organization, the prevalence of diabetes has increased from 108 million in 1980 to 422 million in 2014. As diabetes patients need dietary foods for treatment and regulate the nutrition in the body using suitable nutraceutical products to control the glucose level of the body. Although there is a great demand for these nutraceuticals in the market, this industry is facing some challenges like contamination of pesticides and heavy metal like lead, mercury, arsenic, and other, low bio-active content, and inconsistency in output due to heavy reliance on weather, soil and traditional means of production are the main factors may hinder the growth of these market. Increasing adoption of supplementary diets with health cautiousness among the people, for diabetic patients long-chained Omega-3 helps to maintain a healthy heart which has created a huge opportunity for the growth of this market. However Omega-3 fatty acids are essential nutrients that are important in preventing and managing heart disease and reduce the risk of deaths due to diabetes.

Regional Analysis:

North America is dominating the nutraceutical product market with the potential rate due to rising awareness among the people about supplementary diets systems for the prevention and cure of diabetes and other chronic ailments for better health. Natural Health Products has substantial benefits in the treatment of diabetes; these products include vitamins, herbal products, Probiotics, homeopathic medications and various supplements. According to National Center for Biotechnology Information(NCBI) in 2016, usage of dietary supplements has risen to around 55,000 in the United States,  with an average 60% of Americans uses NHPs for self-care whereas 50% of Europeans on average consume NHPs and in Canada, approximately 71% of the population uses NHPs, with average consumption around 38% on a daily basis. The growth of this market in this region is primarily driven by the increasing diabetic patient pool due to an unhealthy diet and sedated lifestyle. In 2015 according to CDC (Center for Disease Control and Prevention), it was estimated that around 30 million people of all ages in the U.S. had diabetes which accounts to raise the demand for nutraceuticals for taking prevention.

The Asia Pacific is expected to emerge as the fastest-growing regional market due to rapidly increasing patient pool of chronic ailments like diabetes, cancer, inflammatory and Parkinson's diseases and growing need to cure with the help of suitable nutraceuticals and dietary system.

Europe is the second-largest region for dominating the growth of nutraceutical products equipment due to rise of NCDs (Non-communicable Diseases) like diabetes, cardiovascular diseases, cancer, chronic diseases. According to WHO, the Europe region accounts to rise of NCDs with around 77% of the disease burden which directly increases the demand for nutraceutical products to prevent prevalence of these diseases.

Report Analysis	Details
Historical data	2015 - 2020
Forecast Period	2022 - 2028
Market Size in 2021:	USD 308.62 Billion
Base year considered	2020
Forecast Period CAGR %:	7.41%
Market Size Expected in 2028:	USD 509.02 Billion
Tables, Charts & Figures:	175
Pages	300
Key Players/Companies	Kraft Heinz Company,AOR,Archer Daniels Midland Company,BASF SE,Aneva Nutraceuticals Ltd.,The Hain Celestial Group,Conagra,General Mills,Kellogg's,Nestle,Nature's Bounty,Amway,Hero Group,Barilla,Others
Segments Covered	By Product Type Analysis, By Distribution Channel Type Analysis
Regional Analysis	North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa