According to a report published by Grand View Research, Inc.; the global nutraceuticals market is anticipated to reach at USD 578.23 billion by 2025. Growing health concerns and rise in awareness regarding the consumption of healthy food can propel the market during the forecast period (from 2018 to 2025). High prevalence of chronic diseases, such as obesity, high blood pressure, and diabetes, is expected to increase the product demand over the coming years. High cost associated with the treatment of chronic diseases has increased the consumption of nutraceuticals, thereby boosting the market expansion.
Extensive usage of natural ingredients in these products is also anticipated to bode well for the market. Growing trend of personalized nutrition is also expected to have a positive impact on the market development. Efforts taken by key manufacturers to spread awareness about these products via different social media platforms along with increasing popularity of e-commerce are anticipated to drive the market in the coming years. The global nutraceuticals market can be segmented on the basis of product and region. Based on product, the market can be categorized into dietary supplements, functional beverage, and functional food.
Full Research Report On Nutraceuticals Market Analysis: www.grandviewresearch.com/industry-analysis/nutraceuticals-market
The functional beverages segment is anticipated to expand at the highest CAGR of over 8.1% over the forecast period. Factors such as demand for ready-to-drink beverages and rise in consumption of sports and energy drinks are driving this segment. The dietary supplements segment is anticipated to grow at a CAGR of over 9.7% during the forecast period due to high product demand in countries including China, Brazil, South Korea, India, Mexico, and Poland. The functional food segment is also expected to show a significant growth in the coming years. These supplements play a vital role by reducing the risks of cardiac diseases.
Geographically, the market can be divided into North America, Europe, Asia Pacific, Middle East and Africa, and Central and South America. In 2016, Asia Pacific accounted for 44.3% of the overall market share and is estimated to expand at the fastest CAGR of 9.9% during the forecast period. This growth can be attributed to the rise in retail sector in developing countries including Indonesia, India, China, and Malaysia due to supportive regulatory framework.
In 2015, North America accounted for 27.5% of the total revenue share and is expected to register a CAGR of over 7.8% from 2018 to 2024. Increased consumption of functional foods and beverages among baby boomers in the region is likely to drive the market growth during the projected period. Moreover, high cost associated with healthcare treatment in developed countries in this region can impel the market. Constant product launches in the region will also contribute toward the region’s development.
Browse More Reports Of This Category By Grand View Research At: www.grandviewresearch.com/industry/nutraceuticals-functional-foods-and-dietary-supplements
However, maturation in dietary supplements market along with the presence of strict regulatory guidelines are likely to limit the market growth in North America. In 2016, Central and South America captured a market share of 7.2% and is likely to expand at a CAGR of 9.0% from 2018 to 2025, in terms of, revenue due to growing product demand, particularly in Brazil. Middle East and Africa is expected to experience a remarkable growth over the forecast period due to rapid urbanization and rising consumer disposable income.
Increasing number of working professionals in the the Middle East region due to its growing prominence as a commercial hub is also anticipated to contribute toward the market expansion. Some of the leading companies in the nutraceuticals market include Action Labs, Inc.; Natrol Inc.; Herbalife Ltd.; The Hain Celestial Group, Inc.; and Bactolac Pharmaceuticals, Inc. Most of these companies focus on research and development activities to introduce novel products, which is anticipated to create more growth opportunities in the market.
Grand View Research has segmented the global nutraceuticals market on the basis of product and region:
Nutraceuticals Product Outlook (Revenue, USD Million, 2014 – 2025)
Dietary supplements
Botanicals
Vitamins
Minerals
Amino acids
Enzymes
Others
Functional food
Carotenoids
Dietary Fibers
Fatty Acids
Prebiotics & Probiotics
Functional beverage
Energy drinks
Sports drinks
Functional juices
Nutraceuticals Regional Outlook (Revenue, USD Million, 2014 – 2025)
North America
U.S.
Europe
Germany
UK
Asia Pacific
China
Japan
India
Central & South America
Brazil
Middle East & Africa
Explore the BI enabled intuitive market research database, Navigate with Grand View Compass, by Grand View Research, Inc.
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
For more information: www.grandviewresearch.com
Media ContactCompany Name: Grand View Research, Inc.Contact Person: Sherry James, Corporate Sales Specialist – U.S.A.Email: Send EmailPhone: 1-415-349-0058, Toll Free: 1-888-202-9519Address:28 2nd Street, Suite 3036 City: San FranciscoState: CaliforniaCountry: United StatesWebsite: www.grandviewresearch.com/industry-analysis/nutraceuticals-market
