Nutraceuticals Market to Witness Astonishing Growth with Key Players

Nutraceuticals Industry Overview

The global nutraceuticals market size was valued at USD 454.55 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 9.0% from 2021 to 2030. The growing demand for dietary supplements and functional food is expected to be a key driving factor for the market over the forecast period. A favorable outlook towards medical nutrition in light of the increasing application for the treatment of cardiovascular disorder and malnutrition is likely to stimulate the growth of dietary supplements.

 

Rising healthcare costs, coupled with the increasing geriatric population across the world, are anticipated to assist the global functional food industry growth over the forecast period. Consumers’ attitude is observed to be very positive towards functional foods mainly on account of the added health and wellness benefits offered by these products. The rising geriatric population, increasing healthcare costs, changing lifestyle, food innovation, and expectations regarding the higher prices have aided the overall growth.

 

Gather more insights about the market drivers, restrains and growth of the Global Nutraceuticals Market

The U.S. has witnessed an increasing demand for dietary supplements over the past few years owing to the growing importance of preventive health care among consumers. Consumers have been preferring multivitamins that provide the essential nutrients to the human body. Multivitamins are becoming an integral part of the lifestyle among consumers in the U.S., and this trend has surged during the COVID-19 pandemic in the U.S.

 

Dietary fibers and minerals are likely to grow owing to the high awareness regarding their benefits in overall health and bodily maintenance. Fibers tend to foster easier bowel movements while providing critical cleansing of internal organs, while minerals contribute to higher retention and passage of nutrients into cells and promote blood clotting among other functions. Furthermore, high adoption rates of herbal medicines among individuals across the globe on account of the rising concerns over hazardous effects associated with conventional pharma drugs are expected to expand the market size over the forecast period.

 

In the wake of the COVID-19 pandemic, the demand for dietary supplements and functional foods has soared. Immunity boosting supplements have become mainstream over the past year and this has led to a significant change in buying patterns and consumer behavior. Moreover, after the COVID-19 pandemic, preventive healthcare measures such as dietary supplements will become a part of people’s everyday lives. Thus, the COVID-19 pandemic across the globe has paved the way for nutraceuticals to build a strong presence in the global market.

 

Browse through Grand View Research’s Nutraceuticals & Functional Foods Industry Research Reports

• Functional Foods Market: The global functional foods market size was estimated at USD 280.7 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 8.5% from 2022 to 2030.
• Wheat Protein Market: The global wheat protein market size was estimated to be worth USD 6.13 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 4.5% from 2022 to 2030.

 

Nutraceuticals Market Segmentation

Grand View Research has segmented the global nutraceuticals market on the basis of product and region:

Nutraceuticals Product Outlook (Revenue, USD Million, 2017 – 2030)

• Dietary Supplements
• Functional Food
• Functional Beverages

Nutraceuticals Dietary Supplements Product Outlook (Revenue, USD Million, 2017 – 2030)

• Vitamins
• Botanicals
• Minerals
• Proteins & Amino Acids
• Fibers & Specialty Carbohydrates
• Omega Fatty Acids
• Others

Nutraceuticals Functional Food Product Outlook (Revenue, USD Million, 2017 – 2030)

• Carotenoids
• Dietary Fibers
• Fatty Acids
• Minerals
• Prebiotics & Probiotics
• Vitamins
• Others

Nutraceuticals Functional Beverages Product Outlook (Revenue, USD Million, 2017 – 2030)

• Energy Drinks
• Sports Drinks
• Functional Juices
• Infants
• Others

Nutraceuticals Regional Outlook (Revenue, USD Million, 2017 – 2030)

• North America
• Europe
• Asia Pacific
• Central & South America
• Middle East & Africa

 

Key Companies Profile

Some prominent players in the global nutraceuticals market include:

• Cargill, Incorporated
• Archer Daniels Midland Company
• DuPont
• Nestle S.A.
• Danone
• Royal DSM N.V.
• General Mills
• Innophos
• WR Grace
• Amway Corporation
• AOR Canada
• Arkopharma Laboratories S.A.
• Bactolac Pharmaceuticals, Inc.

 

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