Nutraceuticals Market is projected to reach USD 319.6 Billion by 2023 and it will grow at a CAGR of 6.7% over the forecast period. In North America, nutraceuticals is majorly marketed in the U.S. which alone holds the lion’s share of 86.24% of the total North America nutraceuticals market. North America alone captures 36.69% market share in the year 2017.
Nutraceuticals are referred to as functional foods, beverages and dietary supplements derived from natural food sources that imparts health benefits. They contain additional nutrients that are not found in conventional foods which is driving the market of nutraceuticals. Rising health awareness among the consumers is driving the market for nutraceuticals. Moreover, inclination of consumers towards functional foods in the developing countries is boosting the growth of nutraceutical market.
Based on the type of nutraceuticals, functional food segment is dominating the market holding a market share of 39.28%. However, functional beverage segment is expected to have the highest growth rate in North America over the forecast period 2017-2023 followed by dietary supplements. Moreover, increasing awareness of health followed by growing obesity issues among the population is propelling the growth of nutraceuticals market. Additionally, continuous research on the nutraceuticals market and the efforts from the key players for bringing innovative products in the market is further driving the market of nutraceuticals.
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Major Key Players:
This report includes a study of strategies such as mergers, acquisitions, and product launches by the major nutraceuticals market players. It further includes product portfolios, developments of leading players, which includes
- Archer-Daniels-Midland Company (U.S.)
- BASF SE (Germany)
- E. I. du Pont de Nemours and Company (U.S.)
- GlaxoSmithKline Plc (U.K)
- Abbott Nutrition Manufacturing Inc. (U.S.)
- DSM Nutritional Products, Inc. (the Netherlands) and
- Cargill Inc. (U.S.)
Personal care products manufacturers
Retailers, wholesalers and distributors
Traders, importers and exporters
Global nutraceuticals market is projected to reach USD 319.6 billion by 2023 at a growth rate of 6.70%
Dietary supplement is witnessed to have the highest growth rate with CAGR of 6.88% over the forecast period 2017-2023
Functional foods is expected to grow at a CAGR of 8.1% in Asia Pacific followed by RoW over the forecast period.
Omega-3 is projected to witness the highest growth rate in active ingredients of nutraceuticals followed by probiotics over the estimated period.
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The reports also cover country level analysis:
- The Netherlands
- Rest of Europe
- China, mainland
- Republic of Korea
- Rest of APAC
- The Middle East
- Other Countries
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