Global Nutraceuticals Market Size, Segments, Outlook, and Revenue Forecast 2022-2028 by Product Type (Dietary Supplements, Functional Food, and Functional Beverages), Source (Plant, Animal, and Microbial), Form (Capsules and Tablets, Liquid, Powder, and Gummies) Distribution Channel (Drug Stores/Pharmacies, Online Channels, Specialty Stores, and Hypermarkets/supermarkets), and Region (North America, Europe, Asia-Pacific, and Latin America, Middle East and Africa (LAMEA))

Market Overview:

Nutraceuticals is a broad term used to describe products derived from food sources that provide additional health benefits in addition to the basic nutritional value found in food. These products can be classified based on the natural source, the pharmacological condition, and the chemical composition of the product. Nutraceuticals are most commonly classified into four categories, including dietary supplements, functional foods, medicinal foods, and pharmaceuticals. Nutraceuticals have potential nutritional, safety, and therapeutic benefits. These products are considered a healthy source for preventing life-threatening ailments such as diabetes, kidney and gastrointestinal ailments, and various other infections.
According to Ken Research Analysis, the Global Nutraceuticals Market was valued at ~US$ 250 billion in 2017. It is estimated to be ~US$ 350 billion in 2022 and is forecasted to reach a market size of ~US$ 500 billion, growing at a CAGR of ~7% owing to the rising demand for nutraceuticals among old age population due to increasing chronic diseases.

• Increasing prevalence of metabolic disorders is one of the factors driving the growth of nutraceuticals market. The number of individuals with metabolic disorders is on the rise across various countries worldwide. According to the National Cholesterol Education Program and International Diabetes Federation (IDF), more than 30% of the U.S. population is estimated to have metabolic syndrome.  This will drive consumer preference for nutraceuticals thereby fostering market statistics.
• A surge in sports activities and participation at the national and international levels will complement the nutraceuticals industry growth. Increasing awareness associated with the benefits of health supplements for various medical concerns will drive the demand for nutraceutical products.
• The major challenge faced by the market is the presence of a stringent regulatory framework and complex policies for the commercialization of nutraceutical products. A strict set of guidelines has been outlined in order to ensure that only safe and high-quality nutraceuticals are launched into the market. This compels nutraceutical product developers to provide ample evidence justifying the product’s health claims.
• The COVID-19 pandemic has positively impacted the nutraceuticals market owing to the increasing demand for healthy nutritional supplements and products. Preventative measures against coronavirus promoted the consumption of nutritious and functional foods with high zinc, sodium, vitamin D, vitamin C, and mineral content, escalating the sales of nutraceutical products. In addition, the pandemic is also a foundation stone of the start to the end of substandard nutrition, invalid claims, and smart marketing claims phrases that potentially misled the consumers.

Scope of the Report: The Nutraceuticals Market is segmented by Product Type, Source, Form, Distribution Channel, and Region. In addition, the report also covers the market size for each of the four regions' Nutraceuticals market. The revenue used to size and forecast the market for each segment is US$ billion.

Key Trends by Market Segment
By Product Type: The functional food segment held the largest market share in the global nutraceuticals market in 2021, owing to several health benefits including weight management, and improved blood circulation.

• The increasing trend of on-the-go nutraceutical snacks such as protein-rich snacks, grains, dry nuts, bars, and others, boosts the demand for the functional foods segment.
• Functional beverages segment is expected to grow with the highest CAGR during the forecast period due to the gaining popularity of sports drinks among athletes and other individuals involved in energetic physical activities.

By Source: The plants segment held the largest market share in the global nutraceuticals market in 2021, owing to the growing preference for consumers interest towards protein extracted from plants as compared to animal-based.

• Nutraceutical ingredients extracted from plants add primary nutritional value and functional benefits to various applications such as food & beverages, dietary supplements, and personal care products.
• Consmuers prefer incorporating plant proteins in regular diets instead of costly whey & other dairy proteins. All the plant-extracted nutraceuticals are available in the form of tablets or capsules forms in dietary supplements.

By Form:The capsules and tablets segment held the largest market share in the global nutraceuticals market in 2021, as these are the most convenient alternative to constitute nutraceuticals in daily diet.

• Tablets and capsules are easy to store and package and possess longer shelf life as compared to other forms.
• Capsules have a layer of film or sugar that helps encapsulate the unpleasant odor and taste of these formulations. A wide range of benefits associated with capsules & tablets will propel the segmental expansion.

By Distribution Channel: The Drug Stores/Pharmacies segment held the largest market share in the global nutraceuticals market in 2021, as pharmacies or drug stores are considered to be the most trusted source for the purchase of any kind of medication and supplements.

• Pharmacies are the most trusted distribution source for supplements among consumers as the information regarding the product is validated through healthcare professionals at the drug stores.
• Online segment is expected to grow with the highest CAGR during the forecast period as online channels offer a much lower price for supplements through coupon benefits, free shipping charges, and others.

By Region: Asia Pacificheld the largest market share among all other regions within the global nutraceuticals market in 2021, owing to the growing trend of food fortification with nutraceutical products in the region.

• Rising awareness regarding nutritional enrichment in China and India is expected to remain a favorable factor for market growth. Furthermore, the expansion in the retail sector in emerging markets including Indonesia, Malaysia, and India in light of regulatory support to promote investments is expected to increase the accessibility to buyers over the forecast period.
• The increasing purchasing power of buyers has provoked consumers to adopt health-conscious food and healthy diets, which will further drive regional industry growth. The rising elderly population along with consumer spending on healthcare products & medicines has enhanced the nutraceutical industry growth in the Asia Pacific region.

Competitive Landscape

The Global Nutraceuticals Market is highly competitive with ~500 players, including globally diversified players, regional players, and many country-niche players. Most of the country-niche players are the manufacturers of nutraceuticals used in various end-user industries.

Regional players constitute ~30% of the total number of competitors, while country-niche players dominate representing ~60% of total competitors. Some of the major players in the market include Amway Corp, BASF SE, Cargill, Incorporated, Danone SA, DuPont, General Mills Inc., Nestlé, PepsiCo Inc., DSM, ADM, among others.

Recent Developments Related to Major Players and Organizations

• In May 2021, General Mills launched a new snack brand called Good Measure that is designed specifically to not spike the blood sugar of the person snacking. The Good Measure brand currently has two products: creamy nut butter bars and crunchy almond crisps. The bars are available in multiple flavors starting with Blueberry & Almond, Peanut & Dark Chocolate, and Almond & Dark Chocolate.

• In 2022, DSM Group, a global science-based company, launched its latest integrated Food & Beverage functional structure, which combines three sections of DSM’s business based on nutrition, i.e., Hydrocolloids, Food Specialties, and a few portions of nutritional commodities group on demand of emerging customer and current needs of the market.

•  In December 2020, Abbott introduced a new Pedialyte rehydration solution. The product contains a range of nutrients including probiotics, vitamin C, vitamin B12, vitamin E, zinc, and more. It is developed to support the immune system of consumers. Abbott expanded its Pedialyte product portfolio using the new product and increase its customer base.

Conclusion

The Global Nutraceuticals Market witnessed positive impact due to COVID-19 as the demand for nutraceuticals kept on increasing during and after the pandemic. Most nutraceuticals are sold in the form of tablets and capsules as there is an ease of packaging that helps in providing longer shelf life to the product. Pharmacies are the most popular source of distribution channels through which nutraceutical supplements are sold. However, online channels are also gaining popularity as the prices are much lower. Though the market is competitive with over ~500 participants, country-niche players control the dominant share in the market and regional players also hold a significant share.

Note: This is an On-Demand/Planned report, so the figures quoted here for market size estimate, forecast, growth, segment share, and competitive landscape are based on initial findings and might vary slightly in the actual report. Also, any required customizations can be covered to the best feasible extent for Pre-booking clients and report delivered within a maximum of 2 working weeks.
Key Topics Covered in the Report

• Snapshot of Global Nutraceuticals Market
• Industry Value Chain and Ecosystem Analysis
• Market size and Segmentation of the Global Nutraceuticals Market
• Historic Growth of Overall Global Nutraceuticals Market and Segments
• Competition Scenario of the Market and Key Developments of Competitors
• Porter’s 5 Forces Analysis of Global Nutraceuticals Industry
• Overview, Product Offerings, Strengths, & Weaknesses of Key Competitors
• Covid-19 Impact on the Overall Global Nutraceuticals Market
• Future Market Forecast and Growth Rates of the Total Global Nutraceuticals Market and Segments
• Analysis of Global Nutraceuticals Market
• Major Production/Supply and Consumption/Demand Hubs within Each Region
• Major Country-wise Historic and Future Market Growth Rates of the Total Market and Segments
• Overview of Notable Emerging Competitor Companies within Each Region

Notable Key Players Mentioned in the Report

• Amway Corp
• BASF SE
• Cargill, Incorporated
• Danone SA
• DuPont
• General Mills Inc.
• Nestlé
• PepsiCo Inc.
• DSM
• ADM

Notable Emerging Companies Mentioned in the Report

• NutraScience Labs
• Advanced Supplements
• Supplement Manufacturing Partner Inc.
• Organimed
• Vitane Pharma

Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report

• Nutraceuticals Manufacturers
• Nutraceuticals Suppliers
• Dietary Supplements Suppliers
• Functional Food Suppliers
• Functional Beverages Suppliers
• Nutraceuticals Tablets and Capsules Manufacturers
• Nutraceuticals Powder Manufacturers
• Nutraceuticals Capsules Manufacturers
• Nutraceuticals Gummies Manufacturers
• Liquid Nutraceuticals Manufacturers
• Nutraceuticals Distributors
• Emerging and Startup Nutraceuticals Companies in the Market
• Different Types of Nutraceuticals Institutes
• Government Departments of Dietary Supplements
• Ministries and Departments of Pharmaceuticals
• Ministries and Departments of Healthcare
• Importers and Distributors of Nutraceuticals

Period Captured in the Report

• Historical Period: 2017-2021
• Forecast Period: 2022E-2028F

Frequently Asked Questions

• What is the Study Period of this Market Report?

The Global Nutraceuticals Market is covered from 2017-2028 in this report, which includes a forecast for the period (2022-2028).

• What is the Future Growth Rate of the Global Nutraceuticals Market?

The global Nutraceuticals market is expected to witness a CAGR of ~7% over the next 6 years.

• What are the Key Factors Driving the Global Nutraceuticals Market?

The growing concerns associated with metabolic syndrome is expected to be the primary driver of this market.

• Which is the Largest Distribution Channel Segment within the Global Nutraceuticals Market?

The Drug Stores/Pharmacies segment held the largest share of the global Nutraceuticals market in 2021.

• Who are the Key Players in the Global Nutraceuticals Market?

Amway Corp, BASF SE, Cargill, Incorporated, Danone SA, DuPont, General Mills Inc., Nestlé, PepsiCo Inc., DSM, ADM, among others are the major companies operating in Global Nutraceuticals Market.