According to the current analysis of Reports and Data, the global nutraceutical products market was USD 303.70 Billion in 2021 and is projected to grow at a CAGR of 7.1% from 2021 to 2030. A variety of terms have appeared worldwide, such as nutraceuticals, medifoods, vitafoods, functional foods, and the more traditional dietary supplements and fortified foods. However, the term functional foods have become the predominant one even though several organizations have attempted to differentiate this emerging food category. Nutraceutical products are considered as the food or a part of food that delivers nutritional value to the diet. It is also called as a functional food that contains standardized nutrient and pharmaceutical-grade. These supplements act as source for a dietary supplement to the body through diet & works to prevent diseases. With cumulative educational level, people are becoming ready to accept diverse types of food & beverages that have added nutritional supplements. Hence with this change, nutraceutical products are gaining a traction across the world.
Globally, nutraceutical products are gaining importance and are becoming a part of the consumer’s daily diet. The primary reasons for this change have been the increasing prevalence of lifestyle diseases and people consciously taking preventive healthcare measures. Growing the utilization of functional food and beverages by the baby boomer population is expected to augment nutraceutical products market growth over the forecast period. Much of the technological progress in the field of nutraceutical producers will require patience, deep pockets, and a willingness to place risky bets. Nutraceutical products manufacturing companies will need to achieve genuine breakthroughs to tackle a wide range of conditions. Nutraceutical products are likely to benefit from the trend of personalized medicine; therefore, using and creating technology which aids this movement will be a crucial factor.
Development of new supplements with distinctive genetics, ecotype could provide local producers with access to more stable and specialized markets. Globally, the market for nutraceutical products is driven by increasing consumer awareness of aging populations, rising health care costs, diet-disease links, and advances in food technology and nutrition. Currently, health concerns like cholesterol reduction, cardiovascular disease, and osteoporosis are the most attractive targets for nutraceutical products, followed by child development, high blood pressure, diabetes, GI disorders, menopause-related ailments, and lactose intolerance.
The Asia Pacific region is anticipated to be the fastest-growing market during the forecast period with a CAGR of 8.0%. An increasingly hectic pace of life is now becoming commonplace in Asian countries. The strategies of the nutraceutical manufacturing companies must be to invest heavily in advertising to help consumers understand the health benefits. The region with its large population shows significant potential for manufacturers, and the focus is on weight management, which is driving the growth of the nutraceutical products market for weight-loss ingredients.
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This report forecasts revenue growth at a global, regional & country level, and provides an analysis of the market trends in each of the sub-segments from 2019 to 2030. For the purpose of this study, Reports and Data have segmented the nutraceutical products market on the basis of source, products, distribution channel, and region:
Type Outlook (Revenue, USD Billion; 2019-2030)
Distribution Channel Outlook (Revenue, USD Billion; 2019-2030)
Regional Outlook (Revenue, USD Billion; 2019-2030)
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