18-Apr-2022 | Zion Market Research
The Nutraceuticals Market was worth around USD 449.5 billion in 2021 and is estimated to grow to about USD 745.5 billion by 2028, with a compound annual growth rate (CAGR) of approximately 8.8 percent over the forecast period. The report analyzes the digital remittance market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the digital remittance market.
Nutraceuticals are food-based supplements that can also be used for medicinal purposes. Because they are made from food materials and extracts, they are also known as bioceuticals. Nutraceuticals products are available in a variety of forms and are used for a wide range of purposes. The primary reason for the rise in demand for nutraceuticals is growing awareness of the health benefits of using nutraceuticals and Nutraceuticals supplements in the forecast period. In addition, In addition, demand for Nutraceuticals, which are food-based supplements, is expected to rise in the coming years due to an increase in athletes' participation in sports on a national and international level. Moreover, the growing urbanized population increased spending on health-related products, and an increase in cardiovascular, chronic, and obesity-related diseases will propel the growth of the market in the upcoming years. Gummies, jellies, and soft gels are newer types of nutraceuticals that are being introduced to the market, and their adoption is gradually increasing. They are available in a wide range of shapes, sizes, flavours, and concentrations. These nutraceuticals are also becoming increasingly popular among children, which is assisting the market's growth. The nutraceuticals market, on the other hand, is hampered by difficulties faced by manufacturers during the manufacturing process. Many times, extracting the ingredients needed to make nutraceuticals is difficult, and the result of the extraction is a very small amount of the ingredient, resulting in a very high cost.
The Nutraceuticals Market is segregated based on type, application, health benefits, and form. Based on type, the global market is distinguished into Probiotic, Proteins and amino acids, Phytochemical & plant extracts, Fibers & specialty carbohydrates, Omega 3 fatty acids, Vitamins, Prebiotic, Carotenoids, Minerals, and Others. Based on application, the global market is distinguished into Food, Beverages, Personal care, Animal nutrition, and Dietary supplements. Based on health benefits, the global market is distinguished into Cognitive health, Gut health, Heart health, Bone health, Immunity, Nutrition, Weight management, and others. Based on form, the global market is distinguished into Dry, and liquid.
The Asia Pacific dominated the market during the forecast period. The major drivers of the APAC market are likely to be rising consumer health concerns and increased awareness of nutraceuticals. In addition, the nutraceutical industry's growth in the Asia Pacific has been aided by an aging population, changing healthcare spending patterns, and changing lifestyles Moreover, the growing trend of fortifying foods with nutraceutical products is expected to drive significant growth in this market. North America is expected to account for the second-largest market share. North America is predicted to increase quickly throughout the projection period. Consumer awareness of the health benefits of these types of products, as well as their nutritional benefits for disease prevention and enhancement, is credited for the significant growth. The demand for energy drinks, fortified dairy products, functional beverages, and dietary supplements is continually increasing, which is driving the growth of these products.
Key players functioning in the Nutraceuticals Market include Associated British Foods (Uk), Arla Foods (Denmark), DSM (Netherlands), Ingredion Incorporated (US), Tate & Lyle PLC (UK), and Ajinomoto Co., Inc. (Japan).
Browse the full “Nutraceuticals Market By Type (Probiotic, Proteins And Amino Acids, Phytochemical & Plant Extracts, Fibers & Specialty Carbohydrates, Omega 3 Fatty Acids, Vitamins, Prebiotic, Carotenoids, Minerals, And Others). By Application (Food, Beverages, Personal Care, Animal Nutrition, And Dietary Supplements.) By Health Benefits (Cognitive Health, Gut Health, Heart Health, Bone Health, Immunity, Nutrition, Weight Management, And Others.) By Form (Dry, And Liquid.).” Report at https://www.zionmarketresearch.com/report/nutraceuticals-market
Nutraceuticals Market is segmented as follows:
By health benefits
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