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Clifton, New Jersey, March 09, 2023 (GLOBE NEWSWIRE) — The demand for nutraceuticals has been increasing over the years due to a lack of nutritional food intake, changing food patterns, an increased number of chronic diseases, and the environment. As more people become interested in maintaining good health and preventing chronic diseases, they are turning to nutraceuticals as a way to supplement their diets and support their overall well-being. The world’s population is aging, and older adults are more likely to have health concerns and chronic conditions that can benefit from nutraceuticals. Nutraceuticals offer a convenient way to get the nutrients that people may not be getting enough of in their diets. They are often available in easy-to-take forms, such as capsules or tablets, making them more convenient than consuming whole foods. Nutraceuticals are becoming more widely available, both online and in brick-and-mortar stores, making them easier for consumers to access. There is a growing body of scientific research supporting the use of nutraceuticals for various health conditions. This research is helping to build confidence in these products and increase demand. However, the nutraceutical industry faces several restraints that may impact its growth, including regulatory challenges, limited scientific evidence, a lack of standardization, cost concerns, and safety concerns.
- From the total dietary supplements market, Vitamins & Botanicals are the most consumed dietary supplements globally accounting for 57% share.
- From the functional beverages market, Dairy & Dairy alternative beverages are to be in high demand over the forecast period at a CAGR of 11.04%.
- From the functional food market, Functional foods enriched with soy protein are in high demand to be valued at USD 35.58 Billion by 2027.
- Distribution of nutraceuticals through Speciality Stores and online stores is to be growing rapidly over the forecast period.
- The Asia-Pacific region is anticipated to be the fastest-growing market for nutraceuticals at a growth rate of 9.43%.
Consumers have a growing interest in natural and organic products, and this trend is expected to continue in the coming years. Nutraceuticals, which are often derived from natural sources, are well-positioned to take advantage of this trend. As more people become interested in maintaining good health and preventing chronic diseases, the demand for nutraceuticals is likely to increase. This is especially true as scientific evidence continues to support the use of nutraceuticals for various health conditions. The nutraceutical industry has significant growth potential in emerging markets such as Asia-Pacific, Latin America, and the Middle East. These markets offer a large, untapped consumer base that is increasingly interested in health and wellness products. As technology advances, there is an opportunity to develop new and innovative nutraceutical products that are more effective and better tailored to individual needs. This could include individualized nutrition plans and supplements that are designed to address specific health concerns. There is an opportunity for the nutraceutical industry to partner with healthcare providers to promote the use of supplements and other natural products as part of a comprehensive approach to health and wellness.
“The demand for nutraceuticals in Indian markets is expected to exhibit consequential maturation during the forthcoming period. Fundamentally driven by the strong presence and influence of Ayurveda and plant nutrition India is home to 52 agro-climatic zones with access to over 1,700 medicinal plants from Ayurveda. India has the largest FDA-approved contract manufacturing facilities in the world, with 7,400 nutraceutical start-ups backed by high-end incubation hubs such as CCMB, IITs, and other institutions.” Says, Mr. Dhwipal Shah, Research Director with Bonafide Research.
The emergence of the pandemic has had a positive effect on the overall growth of the nutraceutical market. As a preventive measure against the virus, people resorted to increasing their intake of nutritious and functional foods with high zinc, sodium, vitamin D, vitamin C, and mineral content. The increased consumer focus on boosting immunity and aiding overall health as a preventive measure against the Coronavirus has significantly boosted the demand for dietary and health supplements across countries. The suddenly amplified demand for supplements led to increased stress on supply chains. Transportation restrictions resulted in spiked logistics costs for raw materials, which was a major challenge for the market players.
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Functional foods are the most consumed nutraceutical product globally, as they provide health benefits beyond basic nutrition. In addition, many food manufacturers are incorporating functional ingredients into their products to meet consumer demand for healthier options. For example, many breakfast cereals and snack bars now contain added fiber, which can help reduce the risk of heart disease and other health problems. These foods contain berries, nuts, and seeds; whole grains like quinoa, oats, and chia seeds; and fiber in sufficient quantities. They act as antioxidants, which can help protect against cancer and other diseases, improve digestion, boost the immune system, and reduce the risk of heart disease. Many other foods, such as dark chocolate, garlic, and soy products, also have functional properties and are popular among health-conscious consumers. Dairy products, bakery products, and cereals account for nearly 60% of the total functional food market. However, foods enriched with soy nutrients are becoming popular among consumers who have gone vegan or simply want a high protein intake.
Functional beverages are becoming increasingly popular globally as more people seek out drinks that offer health benefits beyond basic hydration. Green tea is a popular functional beverage that contains antioxidants called catechins, which can help protect against cancer and other diseases. It may also help improve brain function and reduce the risk of heart disease. Kombucha is a fermented tea drink that contains probiotics, which can help improve gut health and boost the immune system. It may also help reduce inflammation and improve digestion. Vegetable juice is a good source of vitamins, minerals, and antioxidants and can help improve digestion and reduce inflammation. Some brands of vegetable juice also contain added probiotics or fiber for additional health benefits. Sports drinks are designed to replenish electrolytes lost during exercise and often contain added carbohydrates for energy. They may also contain vitamins and minerals to support overall health. As consumers become more health-conscious, the market for functional beverages is expected to continue to grow in the coming years.
Energy drinks are the most consumed functional beverage by people around the world, with a 42.32% share, particularly among younger adults and adolescents. Energy drinks are beverages that contain high levels of caffeine, sugar, and other stimulants, such as taurine and guarana. They are marketed as a way to boost energy, increase alertness, and improve physical performance. While energy drinks can provide a temporary boost in energy and attention, the potential health risks associated with their consumption have led to concerns among health experts. As a result, some countries have implemented regulations on the marketing and sale of energy drinks, particularly to children and adolescents. Thus, dairy and dairy alternative beverages are gaining traction in consumers’ minds and will grow rapidly in demand in future years at a CAGR of 11.04%.
Dietary supplements play an important role in helping people maintain their overall health by providing essential nutrients that may be lacking in their diets. Dietary supplements are products that contain vitamins, minerals, herbs or other botanicals, amino acids, enzymes, and other substances that are intended to supplement the diet. Many people do not get enough vitamins and minerals from their diets, and dietary supplements can help fill these nutrient gaps. Certain vitamins and minerals, such as vitamin C and zinc, are important for supporting immune function and may help reduce the risk of infection. Calcium and vitamin D are important for maintaining strong bones, and dietary supplements can help ensure that people are getting enough of these nutrients. Some dietary supplements, such as omega-3 fatty acids and antioxidants, may help reduce the risk of chronic diseases such as heart disease, diabetes, and cancer. Some dietary supplements, such as creatine and caffeine, may help improve athletic performance by increasing energy levels and reducing fatigue. Vitamin C, Vitamin D, and B vitamins are the most commonly consumed vitamins as dietary supplements.
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The nutraceutical market is well established in the North American region with the highest share and may continue to lead the market owing to the growing focus of key players on the development of novel products. Older individuals often experience more health complications than younger consumers. Older people in the population will represent an opportunity for revenue to grow. Canada’s dietary supplements hold revenue worth USD 4.22 billion and are expected to grow at a CAGR of 10.85% over the next few years. The primary negative factors affecting this industry are e-commerce sales and high competition. According to the CDC, more women than men take multivitamins in the United States. However, the FDA does not have the authority to approve dietary supplements for safety and effectiveness or to approve their labeling before the supplements are sold to the public. The rise of the low-calorie ready-to-drink carbonated drinks market in the food industry is due to rising demand for clean-label, gluten-free, low-calorie food supplements, and low-carb items.
The emergence of online retail channels and changing shopping market trends in Europe are expected to drive the market in this region. The sustainable growth of the European dietary supplement market will hinge on customized offerings, implying that the one-size-fits-all concept is expected to be replaced by personalized nutrition. The digitalization wave has quickly reached the nutrition sector. Nutritional supplements are expected to play a crucial role in advancing the concept of predictive and proactive health. Functional foods hold a revenue share of 6.82 billion dollars in Germany. The European Food Safety Authority (EFSA), which is a major regulatory body for food supplements and other nutraceutical products, approves a supplement only after rigorous substantiation and evidence-based analysis of the claims made by manufacturers. In countries such as the Netherlands, Belgium, Norway, and Sweden, supplement manufacturers have an immense opportunity to promote and sell unique and specialized products through effective sales strategies, namely, partnerships with digital personal care product selling platforms.
High mortality rates and rising consumer awareness about health-conscious products and chronic diseases are the major drivers for the Asia-Pacific nutraceuticals market’s growth. Functional beverages in Australia are valued at USD 1.08 billion and are further expected to grow significantly at a growth rate of 15.78%. Heart diseases, diabetes, and cancer are among the top causes of mortalities prevalent in the APAC region that increase with the consumption of these products. Innovations by food and beverage organizations based on specific nutritional values and unique ingredients will further increase the adoption of nutraceuticals in the region. Consequently, several pharmaceutical companies are partnering with food and beverage brands, which are anticipated to increase the sales of dietary supplements like probiotics, omega-3 fatty acids, fiber, carotenoids, and others. The market players are researching and developing cannabis-based nutraceuticals to strengthen the legitimacy of cannabis as a beneficial ingredient. Researchers, government officials, and representatives are participating in several international events, such as the Nutraceutical and Functional Food Asia Pacific Summit. Countries such as India, Singapore, Indonesia, and Malaysia are expected to be lucrative markets for nutraceuticals in the APAC region.
The growth of the South American nutraceuticals market is stirred by multiple factors, including the rising cost of healthcare, a boost in the number of entrepreneurs foraying into the nutraceuticals industry, growing health consciousness among consumers, and the introduction of different effective products. Functional foods occupy half of the total share of the nutraceuticals market in Colombia. The key drivers of the market are the increase in lifestyle diseases, inadequate nutrition, and increased life expectancy. A shift is observed from synthetic supplements to natural and organic ingredients among consumers. Lack of awareness in the developing world about these nutraceutical ingredients is restricting the growth of the market.
Retail and pharmacy development and advancements in product offerings are some of the prominent factors driving the demand for nutraceutical products in the Middle East and Africa region. Dietary supplements in the UAE are valued at USD 0.80 billion and are further expected to grow at a CAGR of 7.63%. The children in the region are often given nutraceuticals to attain proper growth in their developing bodies. But, it has been found that an aging population also has a demand for nutraceutical products due to the healthy ingredients used in the nutraceuticals. A proactive lifestyle is driving increasing acceptance of nutraceuticals across the region. The increasing demand for milk and meat has led animal feed manufacturers to add functional foods to their animal feed. This is strengthening the Middle East and African nutraceuticals market. The increasing incidence of non-communicable diseases and rising medical costs are expected to increase the demand for Middle East and African nutraceuticals.
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Considered in the Report
- Geography: Global
- Historic Year: 2016
- Base year: 2021
- Estimated year: 2022
- Forecast year: 2027
Table of Content
1. Executive Summary
2. Report Methodology
3. Market Structure
3.1. Market Considerate
3.2. Market Definition
4. Economic /Demographic Snapshot
5. Global Nutraceuticals Market Outlook
5.1. Market Size By Value
5.2. Market Share
5.2.1. By Region
5.2.2. By Country
5.2.3. By Company
5.2.4. By Product Type
5.2.5. By Dietary Supplements’ Type
5.2.6. By Functional Beverages Type
5.2.7. By Functional Foods Type
5.2.8. By Distribution Channel Type
6. North America Nutraceuticals Market Outlook
6.1. Market Size By Value
6.2. Market Share
6.2.1. By Country
6.2.2. By Product Type
6.2.3. By Dietary Supplements’ Type
6.2.4. By Functional Beverages Type
6.2.5. By Functional Foods Type
6.2.6. By Distribution Channel Type
6.3. US Nutraceuticals Market Outlook
6.3.1. Market Size By Value
6.3.2. Market Share
184.108.40.206. By Product Type
220.127.116.11. By Dietary Supplements’ Type
18.104.22.168. By Functional Beverages Type
22.214.171.124. By Functional Foods Type
|By Product Type||
|By Dietary Supplements||
|By Functional Beverages Type||
|By Functional Foods Type||
|By Distribution Channel||
|Other Market Details||
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The Global Dietary Supplements Market size was valued at USD 148.35 billion in 2021 and is expected to expand at a CAGR of 8% from 2021 to 2027. They are used in cardiac health, bone & joint health, energy-weight management, and immunity-digestive health, etc. The energy & weight management application has 29.4% of the market share. The supplements are sold at pharmacies-drug stores, online platforms, and supermarkets/hypermarkets. The dietary supplements are rich in vitamins, minerals, amino acids & probiotic supplements, etc. Among these, the vitamin segment is leading the market in terms of value share. Children and teenagers like to eat gummies and soft gel forms. The majority of dietary supplements are consumed by adult yet certain individual needs them, especially to protect against birth defects, women who may get pregnant should ingest 400 mg of folate each day, either through food or supplements. The increased vegan diets followed by gen X, need dietary supplements. North America region is dominating the market in 2021 followed by Asia-Pacific. Europe and South America are together contributing for more than 22% in the same year, However, Middle East & Africa region is growing with steady market growth.
The global protein ingredients market size was valued at USD 53.5 billion in 2021 and is expected to expand at a CAGR of more than 6% from 2021 to 2027. Increasing consumption of these products among health-conscious and elderly consumers is fueling the market growth. Moreover, a rise in the innovation of several proteins by various manufacturers that constitute a wide range of amino acids and perform specific functions, including satiety, muscle repair, weight loss, and energy balance, is expected to present immense growth opportunities for the market. Protein ingredients are now being used in diverse applications, for instance, isolates have high dispersibility and very fine particle size which are widely used in dairy applications. Consumers’ belief in the health benefits associated with these products has been the key driver for this market over the past few years and the trend is anticipated to continue over the forecast period. Europe, North America and Asia-Pacific are considered as the major markets for protein ingredients. However, South America and Middle East & Africa are growing with promising CAGR by 2022-27.
The Global Animal Protein Ingredients Market is anticipated to grow at more than 5% CAGR for 2022–2027. Growing financial support from various growers has encouraged consumers to effectively grow poultry and livestock, which will in turn fuel the market’s growth. Also, the growing consumer awareness relating to the extrinsic quality of meat will propel the global meat market, accelerating the animal protein ingredients market. Major manufacturers are expanding the array of isolates and concentrating to cater to consumer requirements. Egg Protein and Whey Protein lead the animal protein types with Europe as a leading region with almost 34% share of the total market. Dairy proteins are emerging as lucrative segments, increasingly in the Asia-Pacific and Latin American economies. Whey-based and casein-based proteins have emerged as popular, high-quality categories across these regions. The USA is anticipated to be a prominent market during the forecast period owing to increasing awareness of organic food consumption as well as higher penetration of advanced technologies.
The Global Plant Protein Ingredients Market is anticipated to grow at more than 7% CAGR during the forecast period. With accelerated demand for infant nutrient formulas, manufacturers of plant protein ingredients across the globe are developing and introducing notable improvements in the quality of products. With that, the growing dilemma of lactose intolerance in infants during the last few years has increased the demand for plant protein ingredients. Among these regions, North America is leading the overall market. The increasing consumption of healthy food and beverages among health-conscious people, along with the rising adoption of organic food in the US and Canada, is fuelling market growth. On the other hand, the European and Asia-Pacific regions are anticipated to witness higher market growth by 2027.
The Global Active Pharmaceutical Ingredients Market is expected to expand at a CAGR of more than 6.8% from 2022 to 2027. Active pharmaceutical ingredients and excipients are the two most important ingredients in the production of a medicine. The API is the active ingredient in the medicine, whereas the excipient is a substance that isn’t the drug but acts as a medium to aid in its absorption by the body. The API is created by a series of chemical reactions rather than a single reaction from the raw components. An intermediate is a chemical compound that is in the process of creating an API from a raw source. It is purified until it reaches a very high degree of purity and then becomes an API after this lengthy production procedure. Active Pharmaceutical Ingredients (API) of good quality is core to the manufacturing of effective and safe essential drugs. North America region is leading the market in 2021 followed by Asia-Pacific and Europe. On the other hand, Latin America and Middle East & Africa are projecetd to witness moderate growth rate.
Bonafide Research is the fastest-growing global market research and consulting company, providing syndicated research reports, customized research reports, and consulting services to a range of verticals. They have been closely working with a wide client base ranging from Fortune 1000 companies to small and medium enterprises, helping them track the constantly changing market scenario. Bonafide has continuously made efforts to evolve and enhance the report quality with each passing day. Bonafide Research has a strong base of analysts and consultants from assorted areas of expertise who track the latest economic, demographic, trade, and market data globally and help clients make informed business decisions. They periodically update their market research studies to ensure that their clients get the most recent, relevant, actionable, and valuable information for strategy development and to extract tangible results.
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