Nutraceuticals are products that provide extra health benefits other than the nutritional value present in the foods. They are primarily used in functional foods and dietary supplements and helps enhance immunity, prevent chronic diseases, increase cognitive behaviour, improve digestion, etc. The trend of personalized nutrition has enabled the nutraceuticals market to provide foods and drinks that are more suited to consumers’ individual health and nutritional requirements. Several factors like growing health concerns, better understanding towards fitness, aging population, increasing disposable income, lifestyle changes and growth in emerging markets are currently propelling the growth of the global nutraceuticals market. New product launches in the global personalized nutrition market are further strengthening the growth of this market.
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According to a recently published report by IMARC group titled “Nutraceuticals Market Report: COQ10, Probiotics/Prebiotics, Taurine, Omega-3, Green Tea, Antioxidants, Calcium, Lycopene, B-Complex, Dietary Fiber, Collagen, Aloe Vera and Zinc” the global personalized nutrition products market was valued at US$ 205 billion in 2015. The market is further divided into personalized food market and personalized beverages market with sales worth US$ 126 Billion and US$ 79 Billion respectively in 2015. As personalised nutrition products address either individual health requirements or target people’s medical conditions, the market is sub-divided into key indicative health areas. They include digestive and immune health, energy and alertness health, heart health, bone and joint health, cognitive health and beauty health.
The report has also segmented the market on the basis of region. The Asia-Pacific region was the dominant market for Personalized Nutrition Products in 2015, followed by the USA, Western Europe, Africa & Middle East and Eastern Europe. Mapping the competitive layout, PepsiCo represents the largest functional food company in the world. Brands from PepsiCo associated with personalized nutrition include Quaker cereals, Tropicana and Dole juices, SoBE non-carbonated energy drinks, and Gatorade. PepsiCo is followed by Coca Cola which represents the second largest market with functional brands like PowerAde and Minute Maid. Other key players include Otsuka, Yakult Honsha, Group Danone, GlaxoSmithKline, Cadbury Schweppes, Morinaga, Nestle and Kirin Brewery.
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