|03-15-2019 01:03 PM CET - Energy & Environment||
Nutraceuticals Market Business Overview to 2023 are dominated by key players : Cargill, Archer Daniels Midland Company, Royal DSM N.V., Incorporated, Nestle S.A., BASF SE, E. I. du Pont de Nemours and Company, Groupe Danone S.A.
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Nutraceuticals Market Size and Growth Rate:
Nutraceuticals Market was valued at USD 230.9 billion in 2018 and projected to reach USD 336.1 billion by 2023 growing at a CAGR of 7.8% during the forecast period 2018 to 2023.
Nutraceuticals Market Overview:
Nutraceuticals are versatile in nature because they are used in many industries, such as pharmaceutical, foods and beverages, feed additives and personal care. It is hoped that recent innovations and discoveries of function-specific antioxidants create new opportunities in this burgeoning sector. Nutraceuticals are the need of the modern world. The market is expected to experience significant growth during the forecast period due to the growing demand for preventive medical care and medical treatment, which is driving demand for nutritionally active products. However, large investments in R & D should hinder the growth of the market.
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Nutraceuticals Market Growth Drivers and Restraints:
The increase in consumer spending on functional foods and beverages has opened lucrative opportunities for the global nutraceutical market. Consumers, especially those in developed countries, are exploring healthier lifestyles to reduce the incidence of chronic and lifestyle-related diseases. These trends have reinforced the demand for dietary supplements not only as a means to improve physical performance, but also as a disease prevention option. In addition to growth in developed regions, the market is also prepared to see attractive opportunities in Asia-Pacific. The solid development of health care demonstrated in the emerging economies of the region and the increase in disposable income of people will accelerate the nutraceutical market in Asia-Pacific.
Geographic Insights of Nutraceuticals Market:
At the regional level, North America dominated the global nutraceutical market in 2014 with a share of more than 39.6% in value. As people in North America become more health conscious, the demand for nutraceuticals in the region is expected to increase accordingly. The regional market is also expected to benefit from the steady increase in demand in Canada and the United States. In the same year, Asia Pacific became the second largest market for nutraceuticals. The growing demand for functional foods and dietary supplements from emerging economies in the Asia-Pacific region will accelerate sales of nutraceuticals in the region. The growing preference for healthy drinks among athletes, since these drinks help them excel in sports, lose weight and stay healthy will also bode well for the nutraceutical market in Asia-Pacific. In addition, Indian consumers are increasingly opting for nutraceuticals instead of their synthetic alternatives for the treatment of chronic diseases. These developments will provide a significant boost to the market in Asia-Pacific.
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Key Market Players of Nutraceuticals Market:
Cargill, Archer Daniels Midland Company, Royal DSM N.V., Incorporated, Nestle S.A., BASF SE, E. I. du Pont de Nemours and Company, Groupe Danone S.A., Aland (Jiangsu) Nutraceutical Co., Ltd., PepsiCo Inc., and General Mills, Inc. are the prominent players of the market.
Nutraceuticals Market Key Segmentation:
• FUNCTIONAL FOOD
o Cookies and Crackers
• DAIRY NONDRINKABLE
• GRAIN AND FLOUR
• FROZEN FRUITS AND VEGETABLES
• FUNCTIONAL BEVERAGES
• NONCARBONATED DRINKS
• DAIRY DRINKS
• FROZEN JUICES
• TEA AND COFFEE
o Green Tea
o Black Tea and Ice Tea
o Functional Coffee
• DIETARY SUPPLEMENTS
• VITAMINS AND MINERALS
• WHOLE GRAINS
• HIGH-FIBER FOOD
• PROTEIN AND PEPTIDES
• PROTEIN TYPES
o Soy Protein
• AMINO ACIDS
• PLANT STEROLS
• SPORTS AND ENERGY
• GENERAL WELLNESS
• WEIGHT MANAGEMENT
• FUNCTIONAL BREAKFAST
• SATIETY PRODUCTS
• HEART HEALTH
• GI AND DIGESTIVE HEALTH
• BEAUTY AND ANTI-AGING
• TYPE 2 DIABETES
• MEMORY AND MENTAL HEALTH
• North America
• South America
• Asia Pacific
• Middle East and Africa
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