Market Overview:

According to a new report by IMIR Market Research on Global Nutraceuticals Market size is estimated at USD 468.51 billion in 2024, and is expected to reach USD 700.69 billion by 2032, growing at a CAGR of 5.16% during the forecast period (2024-2032).

After the world suffered the COVID-19 pandemic, the global nutraceuticals market will keep the growth rate high since they consist of food ingredients that improve such factors that prevent the diseases and reinforce the whole immune system and the others. Meantime, there's a growing interest in the nutraceutical market due to having multiple options of the storage, the demand for combined formulations with more than one benefit, higher education level of consumers, an educated consumer base, and the rise of health concerns among connected consumers brought about by Covid-19 scare of the global population.

Moreover, the COVID-19 era has provided a breeding ground for the emergence and disappearance of such sharp fraudsters, and smart marketing claims which at the end may even mislead consumers. Shifting to one particular example, the ICMR and the FSSAI in India have not compromised their commitment to the general claims that covid-19 is airborne. They are increasingly requesting clinical validation and approval of their products.

The growing demand of nutraceuticals market with health benefits is also among the important factors stimulating the development of nutraceuticals. They are enriched with antioxidants, probiotics and polyunsaturated fatty acids, that play an important role in managing long standing health issues like high cholesterol, cancer, diabetes, obesity, atherosclerosis and arthritis on another note, the growing regional acceptance for individualized nutrition options is another key market trend shaping the nutrition market which in turn accelerates market growth. The trend of customized nutrition evolves especially among those with gut-related medical conditions and the respondents weren’t satisfied with general reaction. The sales of multivitamins and single vitamins that are being made within all the regions is a significant sector.

Market Dynamics:

Market Drivers-

Increasing Popularity of Nutrient-Enriched Diets to Facilitate Market Growth

• The enhanced access to healthcare, the decline in the rates of death, and the consumer willingness to spend more on issues relating to health and wellness are the potential reason for the rise in the regional population. The demand for nutraceutical products has been boosted by this resulting in the blossom of the nutraceutical firms worldwide. As the 2017 Report of the International Food Information Council (IFIC) reveals, more than half of the American adults having or strongly considering healthfulness as a significant factor for their food and drink purchase. Nowadays consumer tendency is changing towards functional foods and drinks as well that results in increased market of this group.
• Interestingly enough, the consumers prefer to use a convenient concentrated nutritional source for this reason, and supplements have done an excellent job in answering this need. Coronavirus-induced realizations that it is beneficial for boosting general immunity and physical wellness have gone through the roof, thus is expected to have a positive impact on the expansion of the global market in the near future.

Rising Expenditure on Technological Advancement to Drive Growth

• The high investment in research and development activities positively impacts a manufacturer's production technology and its quality. The nutraceutical industry has rapidly evolved in the past few years to respond to this growing demand for health-benefiting products. This is manifested in the exponential increase of the nutraceutical launches in functional beverages and dietary supplements categories. The rampant use of antibiotics in the form of over-the-counter medicines has negatively impacted our health. There are incidences of infections caused by antibiotic-resistance pathogens. This calls for the development of nutraceutical products that provide microbiota of great diversity that will enable enhanced immunity and overall well-being.

Market Trends-

Increased Demand from Healthy & Functional Foods

• Rising consumer interest in functional food results from health benefits, performance, and perceived wellness. Due to the ease of incorporating nutraceutical ingredients, the demand for functional end-products such as dairy products, bakery and confectionery, snacks, cereals, fats and oils, meat, and baby food is rising. Famous fortification includes vitamins, minerals, fibre, and protein. High-protein food is the real winner, as it is popular among fitness enthusiasts. Also, people are even more concerned about their health nowadays than their baby-boomer counterparts.
• For companies to differentiate themselves from the competition and create space in a crowded market, they are changing their delivery systems. It evolved beyond tablets and capsules to include newer delivery modes, including soft chews, chewing gum, gummy bears, patches, lollipops, and quick-dissolving strips. Fortified products are offered in convenient single-serving sizes. It is the reason behind the huge demand for functional snack bars. Furthermore, the dietary supplement moved into more 'food-like' delivery forms, such as pudding-like squeeze packets for omega-3 fish oil, joint juice for glucosamine, calcium in chocolate chew, etc.

Market Restraining Factors-

High Regulatory Stringent Laws Associated with Product to Impede Market Growth

• Despite the rising demand for the goods, a number of factors are preventing the market from growing. One of them is the complicated and extremely strict regulatory framework that governs the sale of nutraceutical products. The global markets exhibit limited harmonized provisions on the composition of these products. The upper limits and conditions of use for other botanicals, botanical preparations, and bioactive substances are yet to be harmonized. The different opinions among several government bodies on the type of ingredients to be allowed and what quantity further challenge the harmonization aspect.

Report Coverage:

The report will cover the qualitative and quantitative data on the global Nutraceutical Products Market. The qualitative data includes latest trends, market players analysis, market drivers, market opportunity, and many others. Also, the report quantitative data includes market size for every region, country, and segments according to your requirements. We can also provide customize report in every industry vertical.

By Type (Food, Beverages, Dietary Supplements), By Distribution Channel (Conventional stores, Specialty stores), By Source (Probiotics, Proteins & amino acids, Phytochemicals & plant extracts, Fibers & Specialty carbohydrates, Omega-3 fatty acids, Vitamins, Prebiotics, Carotenoids, Minerals, Others (Glucosamine, chondroitin, and polyols))

Report Scope and Segmentations:

Nutraceutical Products Market Players Analysis:

• Kraft Heinz Company
• The Hain Celestial Group
• Conagra
• General Mills
• Kellogg's
• Nestlé
• Nature’s Bounty
• Amway
• Hero Group
• Barilla Group
• Raisio Group
• Pfizer Inc.
• Freedom Food Group Limited
• PepsiCo, Inc.
• Herbalife International of America, Inc.
• Danone S.A.
• Now Health Group, Inc. (NOW Foods)
• Alticor Inc (Amway Corporation)
• Red Bull GmbH
• Abbott Laboratories

Key Industry Developments:

In June 2022, Kellogg's Special K released new Protein Snack Bars containing 6 grams of protein and 90 calories. The snack bar is offered in two delectable flavors, sweet Berry Vanilla and rich chocolaty Brownie Sundae, and provides a simple on-the-go protein grab without compromising taste.

In February 2022, PepsiCo's Rockstar Energy brand launched a hemp-infused drink in the United States. The energy drink, branded "Rockstar Unplugged," contains hemp seed oil, B vitamins, spearmint, and lemon balm. The beverage includes only 80 mg of caffeine, significantly less than the caffeine content of most Rockstar Energy drinks. The hemp-infused drink contains no sugar or calories and will be available in three flavors: blueberry, passionfruit, and raspberry cucumber.

Nutraceutical Products Market Segmentation Analysis:

By type:

• Food 
  
  • Snacks
  • Confectionery products
  • Bakery products
  • Dairy products
  • Infant products
• Beverages 
  • Health drinks
  • Energy drinks
  • Juices
• Dietary Supplements 
  • Tablets
  • Liquid
  • Powder
  • Others (Softgels, gummies, and chewable products) 

By Distribution Channel:

• Conventional stores
  •   Grocery stores
  •   Mass merchandisers
  •   Warehouse clubs
  •   Online retailers
• Specialty stores
  •   Bakery stores
  •   Confectionery stores
  •   Gourmet stores
  •   Health centers
  •   Cosmetics stores

By Source:

• Probiotics
• Proteins & amino acids
• Phytochemicals & plant extracts
• Fibers & Specialty carbohydrates
• Omega-3 fatty acids
• Vitamins
• Prebiotics
• Carotenoids
• Minerals
• Others (Glucosamine, chondroitin, and polyols)

The report also helps in understanding Global Nutraceutical Products Market dynamics, structure by analyzing the market segments, and project the Global Nutraceutical Products Market size. Clear representation of competitive analysis of key players by type, price, financial position, product portfolio, growth strategies, and regional presence in the Global Nutraceutical Products Market make the report investor’s guide.

Global Nutraceutical Products Market Segmentation Insights:

The market scope is segmented because of by Type, by Distribution Channel, by Source.

By Type

Based on the Type of the market is segmented into Food, Beverages, Dietary Supplements.

Moreover, although the fast-paced snacking and the growing consumer base for nutrition of food products are factors whose demand for snacks containing functional ingredients is expected in the growth. Nutraceutical snacks products are mainly protein-rich snacks and dry nuts, grains and bars in their composition. Nutraceutical products under the snacks segment can have products like granola bars and other nutritious bars. Moreover, the tendency to prefer protein rich food products is also one of the factors which will stimulate the market growth.

Combined usage of vitamins, minerals, proteins, dietary fibers and fatty acids as sources for improving snack products quality and texture, nutritive value, and shelf life is envisaged to form the basis for the growth of the snacks segment in the nutraceuticals products market in the forecast period.

By Distribution Channel

Based on the Distribution Channel of the market is segmented into Conventional stores, Specialty stores.

As grocery shops, mass merchandisers, warehouse clubs, and internet retailers are examples of typical stores, this market segment is expected to dominate. Traditional retail establishments provide affordable prices and are readily available to customers. For customers who like nutraceutical products, these outlets are thus growing in popularity.

The specialty stores segment is projected to be the fastest-growing segment in the market during the forecast period. Specialty stores that sell nutraceutical products mainly include bakery stores, confectionery stores, and gourmet stores. The presence of bakery stores selling nutraceutical products remains high in Europe. These stores sell nutraceutical bakery products such as bread, rolls, buns, cakes, cookies, and biscuits. As bakery products are considered staple food, particularly bread, in Europe, the popularity of nutraceutical products is projected to remain high in the Western regions, such as North America and particularly Europe. These regions account for nearly 70% share in the overall bakery industry. High demand for bakery products has translated to the increasing presence of bakery stores and leading players in these regions. Some of the bakery stores offering gluten-free bakery products include Hummingbird Bakery, Dawn House, and Primrose Bakery in the UK; Dojo Bakery in Australia; and Pristine Organics in the US.

By Source

Based on the Source of the market is segmented into Probiotics, Proteins & amino acids, Phytochemicals & plant extracts, Fibers & Specialty carbohydrates, Omega-3 fatty acids, Vitamins, Prebiotics, Carotenoids, Minerals, Others (Glucosamine, chondroitin, and polyols).

Diet supplements exist in different levels of vitamins, minerals, herbal supplements and protein supplements. The herbal supplements retail sales in the US had historic growth and they increase particularly in herbs of Ayurveda and herbal dietary supplements segments. The growing adoration of herbal supplements ignited a trend that motivated the usage of these products as ingredients in some popular food items, such as the recent Starbucks’ introduction of the Golden Turmeric Latte. This paradigm in popularity for herbal nutraceutical items shows the health industry is in an upward trend.

Regional Snapshots:

Asia Pacific is projected to record the fastest growth in the nutraceutical products market during the forecast period.

The Asia Pacific market is projected to record the fastest growth in the market. Factors such as busy lifestyles have led to an increase in the consumption of convenience food products. In addition, the rapid economic growth in countries of various regions has led to a surge in demand for fortified nutritional food & beverage products in the region. The food & beverage market in this region is currently undergoing a transformation due to rapid urbanization, diet diversification, and liberalization of foreign direct investment in the food sector. In addition, rising income, increasing purchasing power, and a surge in consumer demand for nutritional & healthy products are factors projected to widen the growth prospects for manufacturers in the nutraceutical products market in the region.

Nutraceutical Products Market Report is also available for below Regions and Country Please Ask for that

North America

• U.S.
• Canada

Europe

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

Asia-Pacific

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

Latin America

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

Middle East and Africa

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

Points Covered in the Report:

• The points that are discussed within the report are the major market players that are involved in the market such as market players, raw material suppliers, equipment suppliers, end users, traders, distributors and etc.
• The complete profile of the companies is mentioned. And the capacity, production, price, revenue, cost, gross, gross margin, sales volume, sales revenue, consumption, growth rate, import, export, supply, future strategies, and the technological developments that they are making are also included within the report. This report analysed 5 years data history and forecast.
• The growth factors of the market are discussed in detail wherein the different end users of the market are explained in detail.
• Data and information by market player, by region, by type, by application and etc., and custom research can be added according to specific requirements.
• The report contains the SWOT analysis of the market. Finally, the report contains the conclusion part where the opinions of the industrial experts are included.

Key Questions:

• How much the global Nutraceutical Products Market valued?
• Which region has the largest share in 2024 for the global Nutraceutical Products Market?
• What are the driving factors for the market?
• Which is the leading segment in the global market?
• What are the major players in the market?

Research Scope of Nutraceutical Products Market:

• Historic year: 2018- 2022
• Base year: 2023
• Forecast: 2024 to 2032
• Representation of Market revenue in USD Million

Nutraceutical Products Market Trends: Market key trends which include Increased Competition and Continuous Innovations Trends: