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Global Nutraceuticals Market 2020 Growth, COVID Impact, Trends Analysis Report 2026
Global nutraceuticals market is expected to reach $620.2 billion in 2026, by growing at a CAGR of 8.1% during the forecast period (2020-2026). The increasing consumption of nutraceuticals around the globe owing to its increasing applications in preventing CVDs (cardiovascular diseases), and malnutrition tends to drive the growth of the global nutraceuticals market.(Get 15% Discount on Buying this Report)
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Moreover, the individuals are more health-conscious and are inclined towards expensive food beverages for the health benefits. The availability of functional beverages in various flavors, and other alternatives such as no-calorie and no-sugar will significantly enhance its adoption across the globe, which in turn, will drive the growth of the nutraceuticals market during the forecast period. Moreover, the COVID-19 pandemic resulted in an upsurge in the industry growth owing to its increasing consumption among people to prevent diseases as well as boosts the overall immune system.
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Growing Demand for Convenience food
There is a significant demand for convenience food among consumers. The nutraceutical snacks include protein bars, dry nuts, grains, and bars that are highly popular among consumers. The growing demand for nutraceutical snacks among youth as well as baby boomers will continue to motivate the growth of the market. Considering the demand, the market players are launching gummies, protein bars, protein candies, dry nuts, and grains bars. For instance, in July 2020, launched YES! Plant Protein bars powered by nuts and peas. The new bar comes in two flavors: Almond, Peanut, and Double Dark Chocolate; and Cashew, Blueberry, and Dark Chocolate. Further, in July 2019, MusclePharm launched gluten-free and non-GMO 20 grams Protein Candies, which contain whey-based protein and 210 calories. This Protein Candy contains 15 grams of plant-based protein and 100% vegan. The nutraceutical snacks are highly acceptable among the population which is expected to drive the market.
Scope of the Global Nutraceuticals Market
Market Coverage
Market number available for 2019-2026
Base year- 2019
Forecast period- 2020-2026
Segment Covered- By Product Type and Distribution Channel
Regions Covered- China, India, Japan, and Rest of Asia-Pacific
Competitive Landscape- Archer Daniels Midland Co., Cargill, Inc., Nestlé S.A., and Danone S.A.
Recent Strategic Initiatives in the Global Nutraceuticals Market
In September 2020, PepsiCo, Inc. speeds up the manufacturing of functional beverage Driftwell. It contains L-theanine that promotes relaxation. The company has launched a ‘spa-inspired’ blackberry and lavender flavored drink. It is a non-carbonated, enhanced water beverage that aids in relaxation.
In July 2020, Herbalife Ltd. introduced the Active Fiber Complex Select that supports a healthy digestive system in the body. The Active Fiber Complex Select contains high fiber, gluten-free, low glycemic, and tropical twist-flavored products which offers an ideal balance of soluble and insoluble dietary fiber to aid in digestion.
Global Nutraceuticals Market-Segmentation
By Product Type
Functional Food
Functional Beverages
Dietary Supplements
By Distribution Channel
Retail & Supermarkets
Online Distribution
Global Nutraceuticals Market– Segment by Country
North America
US
Canada
Europe
UK
Germany
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Rest of Asia-Pacific
Rest of the World
Company Profiles
Amway Corp.
Archer Daniels Midland Co.
BASF SE
Cargill, Inc.
Danone S.A.
DuPont De Nemours, Inc.
General Mills, Inc.
Herbalife Ltd.
Innophos Inc.
Koninklijke DSM NV
Nature's Sunshine Products, Inc.
Nestlé S.A.
PepsiCo, Inc.
The Kraft Heinz Co.
Unilever PLC
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Contact Person: Mr. Anurag Tiwari
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Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services.
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