Report Ocean conducted research on the global Nutraceuticals market, some important discoveries were made. First, the market is expanding steadily, and over the coming years, demand is expected to rise. Second, there is a lot of market competition, yet only a few major businesses control the sector. Last but not least, there are numerous chances for market innovation and improvement, notably in terms of product offerings and marketing tactics.
The global nutraceuticals market size was US$ 429.5 billion in 2021. The global nutraceuticals market size is forecast to reach US$ 652.6 billion by 2030, growing at a compound annual growth rate (CAGR) of 4% during the forecast period from 2022 to 2030.
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The term “nutraceutical” refers to food or products derived from food that provides additional health benefits or medical benefits apart from the nutritional value of the food. The term “nutraceuticals” combines the words “nutrient” (a nourishing food component) and “pharmaceutical” (a medical drug). These products are essential to modern life. There are many industries that can use nutritional products, such as animal feed additives, pharmaceutical food & beverage additives, and personal care.
Factors Influencing Market Growth
Fake products, which are available at low levels of quality, may slow down the expansion of the overall market.
Globally, functional foods and beverages are becoming more popular as a substitute for costly medical treatments, thus driving the global nutraceutical market.
Cosmeceuticals, a type of personal care product that contains skincare properties and nutraceuticals such as vitamins and antioxidants, are forecast to offer new growth opportunities.
Impact Analysis of COVID-19
The COVID-19 pandemic had a remarkably positive impact on the global nutraceuticals industry. It was due to the increase in demand for healthy nutritional products. A rapid increase in sales of Nutraceuticals products occurred due to the preventive measures taken against the pandemic by increasing the consumption of Vitamin D, Vitamin C, Zinc, sodium, minerals, and healthy and functional food and beverages. In order to remain healthy, there will be greater demand for organic, natural, and herbal products. Following the COVID-19 outbreak, this trend is likely to persist due to the persistent consumer inclination toward health and wellbeing.
Regional Insights
The Asia Pacific region holds the largest market share in 2021 and is forecast to grow at a significant rate during the forecast period. As a result of high disposable incomes, extensive advertising and promotion, and urbanization on a large scale. In the upcoming years, China, India, and Southeast Asian countries are likely to see increased demand for nutraceuticals.
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Leading Competitors
The leading prominent companies profiled in the global nutraceuticals market are:
Archer Daniels Midland Company
BASF SE
Cargill, Incorporated
Danone
DuPont de Nemours, Incorporated
General Mills Incorporated
Koninklijke DSM N.V.
Nestle S.A.
PepsiCo, Incorporated
Yakult Honsha Co., Limited
Other Prominent Players
Scope of the Report
The global nutraceuticals market segmentation focuses on Type, Form, Sales Channel, and Region.
Segmentation based on Type
Functional Beverage
Energy and Sports Drinks
Functional Juices
Others
Functional Food
Probiotics
Minerals
Proteins & Amino Acids
Prebiotics & Dietary Fibers
Vitamins
Others
Dietary Supplement
Vitamins
Botanicals
Minerals
Proteins & Amino Acids
Fibers & Specialty Carbohydrates
Omega Fatty Acids
Others
Segmentation based on Form
Capsule and Tablets
Liquid
Powder
Others
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Segmentation based on Sales Channel
Hypermarket/Supermarket
Specialty Stores
Pharmacy
Online Channels
Segmentation based on Region
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America
What are the aspects of this report that relate to regional analysis?
?The report’s geographical regions include North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
?The report provides a comprehensive analysis of market trends, including information on usage and consumption at the regional level.
?Reports on the market include the growth rates of each region, which includes their countries, over the coming years.
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