DUBLIN--(BUSINESS WIRE)--The "Nutraceutical Products Market by Type (Food, Beverages, Dietary Supplements), Source (Probiotics, Prebiotics, Vitamins, Minerals), Distribution Channel (Conventional Stores, Specialty Stores, Drugstores & Pharmacies), Region- Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The Global Nutraceutical Products Market Size is Projected to Grow from USD 267.4 Billion in 2019 to USD 404.8 Billion By 2025, Recording a CAGR of 7.2%
Increasing awareness about the benefits of nutritional-rich products is projected to drive the growth of the nutraceutical products market.
The growth in the aging population and the rising number of chronic diseases are encouraging manufacturers to produce nutrition-rich products. Further, the increasing demand for fortified food due to their health benefits is projected to drive the growth of the nutraceutical products market. However, consumer skepticism associated with the adoption of various nutraceutical products and high costs associated with these products are factors projected to hinder the market growth of nutraceutical products.
The beverage segment in the nutraceutical products market is projected to be the fastest-growing segment.
Nutraceutical beverages such as sports drinks, energy drinks, juices, and ready-to-drink tea and coffee-based beverages are witnessing high demand due to the growing number of sports enthusiasts and inclination toward active nutrition. Moreover, the consumption of protein-based beverages is increasing due to the increasing demand among health-conscious consumers for protein-rich beverages. Furthermore, manufacturing companies are focusing on introducing new fortified functional beverages due to the increasing consumer inclination toward healthy beverages fortified with several organic and nutraceutical ingredients.
The proteins & amino acids segment is projected to hold the largest market share during the forecast period.
Proteins are mainly used in industrial applications due to their nutritional and functional properties. Their potential to increase nutritional levels makes them one of the key ingredients in the nutraceutical products market. Additionally, extensive R&D on proteins and the benefits of their properties have led to the identification of innovative uses in the personal care and pharmaceutical industries. Furthermore, the role of amino acids in the growth of organisms to build strong muscular tissues, development of organs, and optimal functioning of the immune system has led to their increasing usage in snacks, ready-to-eat, and convenience foods.
North America is projected to hold the largest market share during the forecast period.
North America is projected to account for the largest market share during the forecast period due to the rising obesity levels in the region and increasing awareness among consumers about the health benefits of prebiotics, proteins & amino acids, omega-3 fatty acids, and their role in weight management. Moreover, increasing the health requirements of customers in the region have encouraged food and beverage manufacturers to develop enhanced nutraceutical products.
- Increasing Aging Population and Focus on Preventive Healthcare
- Partnerships Between Companies That Result in Co-Branding and Co-Marketing Between Ingredient Suppliers and Manufacturers of Finished Products
- Rapid Retail Growth
- Mandates on Food Fortification By Government Organizations
- Increased Cost of Healthcare
- Higher Cost for Fortified Food Products Due to the Inclusion of Healthier Or Naturally Sourced Ingredients
- Product-Based and Technological Innovations in the Nutraceutical Products Industry
- Manufacturers With Integrated Functional and Medical Food Products
- Consumer Skepticism Associated With Nutraceutical Products
Organizations/Regulations Governing the Nutraceutical Products Market
- National/International Bodies for Safety Standards and Regulations
- Alimentarius Commission (CAC)
- Freedom Foods Group Limited
- General Mills
- Hero Group
- Kraft Heinz Company
- Nature's Bounty
- Pfizer Inc.
- Raisio Group
- The Hain Celestial Group
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