Nutraceuticals Market - Global Industry Analysis

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Nutraceuticals are derived from food sources with additional health benefits along with the basic nutritional value in foods. It can be considered as non-specific biological therapies used to promote safety, control symptoms, and avoid malignant processes. Increased risk of chronic diseases such as diabetes, high blood pressure, obesity, and cholesterol is anticipated to boost the demand for nutraceuticals over the forecast period. Nutraceuticals provide medicinal and health benefits and also enhances the nutritive value of food. The awareness regarding nutraceuticals products and health supplements is increasing due to increasing number of nutritional care professionals/service providers such as dietician and nutritionist. The high cost associated with healthcare treatments resulted in growing consumer interest in nutraceuticals in the past years. These factors are expected to drive the nutraceuticals market growth over the forecast period.

Nutraceuticals are expected to boost its presence in the pharmaceutical and food market. Nutraceuticals are gaining popularity in the preventative & proactive healthcare and management of diseases. People making healthier choices are going to aid nutraceuticals market growth. Growing adoption of e-commerce and rising consumer awareness through social media are expected to further augment the demand for the nutraceuticals over the forecast timeframe. In order to remain healthy and stay fit one needs to take proactive and preventive care. Increased awareness among the individuals regarding the importance of staying healthy has compelled them to shift towards healthy food, nutraceuticals, and diet.

Based on the type, the nutraceuticals market is segmented into a functional food, functional beverages, dietary supplements, and personal care. Functional food is further divided into omega fatty acid fortified food, branded wheat flour, probiotics fortified foods, branded ionized salts, and others. Functional beverages are sub-divided into fruits and vegetable juices & drinks, non-carbonated drinks, dairy & dairy alternative drinks, and others. Dietary supplements are further segmented as Ayurveda extracts, algal extracts, plant extracts, phytochemicals, and others.

North America held substantial revenue share of the global nutraceuticals market in 2017 and the region is anticipated to continue with its regional supremacy over the forecast period. The growth of this regional market is attributed due to the high adoption rate, as people are more concerned about living a healthy lifestyle. The opportunity for growth in the U.S. lies with younger generations, to appeal to different need perception of healthy living. Asia Pacific is projected to grow at a significant CAGR, due to rising geriatric population and high prevalence of chronic diseases. The growth of the nutraceuticals market can be attributed to an increased inclination of consumers and high awareness regarding health and nutrition.

Some of the industry players in the nutraceuticals market include E. I. du Pont de Nemours, Archer Daniels Midland Company, Nestle S.A, General Mills, Inc., Cargill Incorporated, Groupe Danone S.A., Royal DSM N.V., and BASF SE. Industry players majorly focus on new product launch and merger & acquisition strategy in order to gain maximum share in the market.