Nutraceuticals Market To Report Impressive Growth, Revenue To Surge To US$317.3 Billion By 2024

25-Oct-2018 | Zion Market Research

With the presence of a large pool of participants, the global nutraceuticals market is displaying a highly competitive business landscape, finds a new research report by Zion Market Research (ZMR). CONMED Corp., Olympus Corp., Fujifilm Holding Corp., Boston Scientific Corp., Cook Medical Inc., Covidien Plc, Stryker Corp., and Smith & Nephew Plc are some of the key vendors of endoscopy devices across the world. These players are focusing aggressively on innovation, as well as on including advanced technologies in their existing products. Over the coming years, they are also expected to take up partnerships and mergers and acquisitions as their key strategy for business development, states the market study.

This review is based on a report by Zion Market Research, titled Nutraceuticals Market by Type (Functional Food [Omega Fatty Acid Fortified Food, Branded Wheat Flour, Probiotics Fortified Foods, Branded Ionized Salts, and Others], Functional Beverages [Fruits and Vegetable Juices & Drinks, Non-carbonated Drinks, Dairy & Dairy Alternative Drinks, Others], Dietary Supplements (Ayurveda Extracts, Algal Extracts, Plant Extracts, Phytochemicals, Others], and Personal Care): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 - 2024.”- Report at https://www.zionmarketresearch.com/report/nutraceuticals-market

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Citing an instance, in September 2018, WellSource Nutraceuticals- a startup based in the Northwest Indiana in the U.S. - launched an all natural supplement that is predicted to improve natural immunity of the body to combat potential allergens.

Global Nutraceuticals Market-

As estimated in this report, the global nutraceuticals market stood at US$ 200.2 billion in 2017. Witnessing a tremendous rise during the period from 2018 to 2024, the revenue in this nutraceuticals market is expected to reach US$ 317.3 billion by the end of the forecast period. The main types available in this nutraceuticals market are functional food, functional beverages, dietary supplements, and personal care. Among them, the demand for dietary supplements is relatively higher and the trend is anticipated to remain so over the next few years, notes the research report.

Humungous Need For Treating Chronic Diseases To Steer Up Market Growth

“Prominent requirement for treating chronic ailments such as hypertension, diabetes, cancer, and obesity is likely to create lucrative avenues for nutraceuticals market during the foreseeable future,” says the author of this study. Apart from this, bulging health awareness among the end-users and rise in the cases of gut disorders as well as rickets are projected to positively leverage nutraceuticals market revenue in the coming years. In addition, rise in the frequency of lifestyle-related ailments and lack of intake of nutritious diet is expected to spur the demand for nutraceuticals market.

Furthermore, escalated need for building muscles, reducing body weight, and overcoming nutritional deficiency of the body are the key growth drivers of nutraceuticals market.

Thriving Healthcare Sector To Help North America Maintain Dominance

Regionally, North America has been leading the worldwide nutraceuticals market and is anticipated to continue on the dominant position in the years to come, states the nutraceuticals market study. Rise in the geriatric population base along with burgeoning healthcare expenditure are the key factors behind the dominance of the North America nutraceuticals market. The high number of market players being headquartered in North America is another significant factor that is supporting the growth of this regional nutraceuticals market. In addition, introduction of new functional food products by key market players of the region is likely to upsurge the growth trajectory of nutraceuticals market in the years forward.

The global nutraceuticals market is segmented as follows:

By Type

  • Functional Food 
    • Omega Fatty Acid Fortified Food
    • Branded Wheat Flour
    • Probiotics Fortified Foods
    • Branded Ionized Salts
    • Others 
  • Functional Beverages
    • Fruits and Vegetable Juices & Drinks
    • Non-carbonated Drinks
    • Dairy & Dairy Alternative Drinks
    • Others
  • Dietary Supplements
    • Ayurveda Extracts
    • Algal Extracts
    • Plant Extracts
    • Phytochemicals
    • Others
  • Personal Care

By Region

  • North America
    • The U.S.
  • Europe
    • UK
    • France
    • Germany
  • Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • The Middle East and Africa

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