IMARC Group, a leading market research company, has recently released a report 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 study provides a detailed analysis of the industry, including the nutraceuticals market trends, share, size, and industry growth forecast. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
The global nutraceuticals market size reached US$ 468.5 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 856.3 Billion by 2032, exhibiting a growth rate (CAGR) of 6.7% during 2024-2032.
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Global Nutraceuticals Market Trends:
The changing consumer lifestyles due to busy and hectic schedules, leading to the heightened demand for convenient health solutions, such as nutraceutical supplements, to maintain health and well-being, is boosting the market growth.
Additionally, recent innovations in biotechnology and nutrigenomics, which are enabling the development of more effective and targeted nutraceutical products, is driving the market growth. Besides this, the growing preference for natural and organic products, leading to increased demand for nutraceuticals made from natural ingredients, is favoring the market growth.
Furthermore, the rising popularity of sports, fitness, and bodybuilding activities, which is fueling the demand for nutraceuticals that enhance performance, endurance, and recovery, is stimulating the market growth.
Factors Affecting the Growth of the Nutraceuticals Industry:
- Increasing Health Awareness:
Increasing health awareness among consumers is an important driver for the nutraceuticals market growth. The advent of the internet and the proliferation of digital media have made information about health and wellness more accessible than ever. This has led to a more informed consumer base that actively seeks products to enhance their health, prevent diseases, and improve overall well-being.
Additionally, consumers are becoming more conscious of the link between diet, lifestyle, and health outcomes. They are increasingly looking for ways to incorporate functional foods and supplements into their daily routines. Besides this, the rise of health and wellness influencers on social media platforms is also playing a significant role in spreading awareness and driving trends. These influencers often promote the benefits of nutraceuticals, thereby encouraging their followers to adopt similar practices.
- Expanding Geriatric Population:
The rising geriatric population is another crucial factor driving the nutraceuticals market growth. Life expectancy is increasing, leading to a corresponding rise in age-related health issues such as arthritis, osteoporosis, cardiovascular diseases, and cognitive decline. Geriatric adults are increasingly seeking ways to maintain their health and quality of life as they age, leading to higher consumption of nutraceuticals. These products are often marketed for their potential to manage and mitigate age-related conditions.
Additionally, products aimed at enhancing cognitive function and memory, such as those containing ginkgo biloba or omega-3 DHA, are in high demand. Additionally, the increasing emphasis on healthy aging and maintaining independence as long as possible is further contributing to the demand for nutraceuticals.
- Rising Prevalence of Chronic Diseases:
The increasing prevalence of chronic diseases is a major factor propelling the growth of the nutraceuticals market. Chronic conditions such as diabetes, hypertension, heart disease, and obesity are becoming more common due to lifestyle factors such as poor diet, lack of exercise, and stress. This trend has led to a greater emphasis on preventive healthcare, where nutraceuticals play a vital role. Consumers are increasingly turning to these products to help manage and prevent chronic illnesses. Healthcare professionals are also more likely to recommend nutraceuticals as part of a comprehensive approach to managing chronic conditions, further legitimizing their use. The rise in chronic diseases not only highlights the need for effective management solutions but also underscores the importance of adopting a holistic approach to health, where nutraceuticals are an integral component. This shift towards prevention and management through diet and supplements is contributing to the market growth.
Nutraceuticals Market Report Segmentation:
By Product:
Personalized Foods
- Bakery Products
- Confectionery
- Dairy Products
- Oil & Fats
- Snack Bars
- Other Foods
Personalized Beverages
- Chocolate Based FP Drinks
- Bottled Water
- Concentrates
- Energy Drinks
- Fruit Vegetable Juices
- RTD Tea
- Sports Drinks
- Others
Based on the product, the market has been bifurcated into personalized foods (bakery products, confectionery, dairy products, oil & fats, snack bars, and other foods) and personalized beverages (chocolate based FP drinks, bottled water, concentrates, energy drinks, fruit vegetable juices, RTD tea, sports drinks, and others).
By Indication:
- Digestive and Immune Health
- Energy & Alertness Health
- Heart Health
- Bone & Joint
- Cognitive Health
- Beauty Health
Digestive and immune health accounted for the largest market share because of the increasing consumer focus on gut health and immunity, driven by rising awareness of their critical role in overall well-being and disease prevention
Regional Insights:
- United States
- Germany
- United Kingdom
- France
- Spain
- Italy
- Japan
- China
- Russia
- India
- Brazil
- Mexico
United States's dominance in the market is attributed to its high consumer health awareness, robust healthcare infrastructure, significant disposable income, and a well-established nutraceutical industry.
Competitive Landscape with Key Players:
The competitive landscape of the nutraceuticals market size has been studied in the report with the detailed profiles of the key players operating in the market.
Some of These Key Players Include:
- Danone
- Kirin Holdings Company Limited
- Mondelez International Inc.
- Morinaga Milk Industry Co. Ltd.
- Nestle
- Otsuka Pharmaceutical Co. Ltd.
- PepsiCo Inc.
- The Coca-Cola Company
- Yakult Honsha Company Limited
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Key Highlights of the Report:
- Market Performance (2018-2023)
- Market Outlook (2024-2032)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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