Nutraceutical Supplements Market Exhibits Higher Growth Prospects till 2027 | Key Players are Abbott Laboratories, Amway, Bayer AG, BASF SE, Glanbia PLC, etc.

The forenamed companies have been profiled in the nutraceutical supplements market report, wherein crucial aspects related to them such as revenue growth, key developments, and regional presence have been elaborated in detail. Market leaders or tier 1 players of the nutraceutical supplements market account for around 40-45% of revenue share, with primary focus on expansion of manufacturing facilities and strategic alliances with key distributors. While the mid-level or tier 2 players emphasize on intensifying their regional presence, the emerging or tier 3 players remain highly oriented toward specific product segments and volume sales enhancement.

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The nutraceutical supplements market is heading toward a phase of consolidation, with tier 1 players extensively emphasizing on product innovations and developments. Moreover, the tier 1 players’ constant pursuit for growth makes them to consistently focus on expansion of regional presence and solidification of product portfolios.

Consumer Demand for Specialty Ingredients to Grow

With the evolving definition of health and wellness, an increasing preference of specialty ingredients is gaining center stage in the nutraceutical ingredients market space.  The customer inclination toward specialty ingredients tends to get strong eventually, owing to multiple benefits such as upgraded health, improved taste and texture, and enhanced shelf life.

Moreover, the practice of “adding value” to products has become one of the highly pervasive manufacturing trends. Consumers are no longer content with simple nutrition or hydration, rather they wish to experience a lot more in terms of health and wellness, taste, and quality. In line with this demand for improved varieties, manufacturers of nutraceutical supplements are focusing on inclusion of specialty ingredients in their products.

Focus on Packaging Techniques to Tackle Counterfeiting - A Key Trend

As per a revelation by the Association for Packaging and Processing Technologies, the practice of counterfeiting has been increasing at an alarming rate. When it comes to products like nutraceutical supplements, which are consumed by a large demographic, integrity of the product becomes exceedingly vital and uncompromisable. 

The practice of counterfeiting can dent consumer confidence with respect to a product, posing major challenges for the manufacturing companies. Hence, the manufacturers are resorting to advanced packaging techniques including anti-diversion codes, hologram-enabled authentication, and invisible inks to help the customers identify the authentic products. Persistent focus on advanced packaging formats and techniques is also poised to aid manufacturing companies in terms of healthy market sustenance amidst cut-throat competition.

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As consumers across the globe are highly invested in achieving their nutrition goals, a personalized approach to nutrition is gaining immense traction. This trend, in turn, is foreseen to invigorate the demand for new nutraceutical supplements aimed at promoting wellness. Manufacturers of nutraceutical supplements are proactively investing in research and development activities, and stakeholder relationships, which will enable them to facilitate business expansion with product diversification and strengthen ties with scientific communities.

Nutraceutical Supplements- Definition

Nutraceutical supplements refer to substances or products aimed at supplementing the diet of consumers in terms of adding nutritional values. The rise in the demand for nutraceutical supplements can be attributed to rising proclivity toward cognitive well-being and functional dietary preferences.

Nutraceutical Supplements Market- About the Report

The Fact.MR report on nutraceutical supplements market is a comprehensive and detailed forecast on the nutraceutical supplements market for the forecast period of 2018 to 2027. The report on nutraceutical supplements market offers in-depth insights apropos of nutraceutical supplements market over the forecast timespan, which aids new entrants in the nutraceutical supplements with understanding the crucial growth parameters of nutraceutical supplements market.

Nutraceutical Supplements Market Structure

The nutraceutical supplements market has been segmented on the basis of product type, consumer orientation, form, sales channel, and region. By product type, the nutraceutical supplements market has been segmented into vitamins & minerals supplements, herbal supplements, protein and amino acid supplements, and prebiotics & probiotics dietary supplements.

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