Rising Demand for Personalized Food Proliferates the Growth of The GCC Nutraceuticals Market

According to the MarkNtel Advisors' research report, "GCC Nutraceuticals Market Analysis, 2021," the market is expected to grow at a CAGR of 9% during 2021-26. The market growth is primarily due to the growing geriatric population and mounting healthcare costs. The snowballing inclination of consumers toward medical nutrition aid in sales of nutraceutical products. Additionally, consumers seek healthier dietary supplements to reduce the nutrition deficiency in their daily diet.

Further, nutraceuticals are present in various end-user industries, including food additives and food & beverages. Moreover, lifestyle changes and eating habits also increase the consumption of nutraceutical products.

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Key questions answered in the study
1. What are the current and future trends in the GCC Nutraceuticals market?
2. How has the market been evolving in terms of end-user demand and application areas?
3. How has the competition been shaping across the countries, followed by their comparative factorial indexing?
4. What are the key growth drivers and challenges for the GCC Nutraceuticals market?
5. What are the customer orientation, purchase behavior, and expectations from the GCC Nutraceuticals market service provider across various countries?

Dietary Supplement Segment Exhibits Fastest Growth

Based on Product Type, the market segments into Dietary Supplements, Functional Food, and Functional Beverages. Among these, the dietary supplement segment is likely to grow at the fastest rate over the forecast period. This growth attributes to the ongoing demand for these supplements to enhance health & wellness and prevent & tackle lifestyle diseases. Further, the rising focus on general wellness instead of medical treatments is another crucial factor likely to propel the market growth.

"GCC Nutraceuticals Market Analysis, 2021" provides comprehensive qualitative and quantitative insights on the market potential, key factors impacting the market growth, hotspots, and opportunities available for Nutraceuticals providers across the countries. Moreover, the report also encompasses the key strategic imperatives for competitors' success and strategic factorial indexing measuring competitors' capabilities on 16 parameters, which will help companies formulate 'Go to Market' strategies and identify the blue ocean for their offerings.

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Herbal Segment Likely to show a Substantial Growth
The herbal supplement segment, a subset of dietary supplements, is likely to grow considerably during the forecast period due to the high preference of consumers for the consumption of natural products as they have minimal side effects.

Besides, most herbal supplements are affordable and available without any prescription, thereby supporting the sales of the herbal supplement segment. However, the market has witnessed several incidences of fake products that have caused harm to consumers' health.

Therefore, this factor influences the customer to have a second thought regarding the purchase of herbal supplements, thereby restraining the segment growth, says MarkNtel Advisors in their research report "GCC Nutraceuticals Market Analysis, 2021."

According to MarkNtel Advisors, the major leading players in the GCC Nutraceuticals market are PepsiCo Inc, Bayer AG, Pfizer Inc, General Mills, Nestlé SA, Vitabiotics Ltd, Danone, Perrigo Company PLC, BASF S.A., Almarai Co Ltd.

Market Segmentation:
1. By Product Type (Dietary Supplements (Proteins & Peptides, Vitamins & Minerals, Herbals {Ayurveda Extracts, Plant Extracts, Algal Extracts, And Phytochemicals}, Others {Fatty Acids and Fiber}), Functional Foods (Probiotics Fortified Food, Omega Fatty Acid Fortified Food, Branded Ionized Salt, Branded Wheat Flour, Other), Functional Beverages (Fruit & Vegetable Juices and Drinks, Dairy & Dairy Alternative Drinks, Non-Carbonated Drinks {Bottled Water, Tea, And Coffee}, Other {Herbal Tea, Sports Drinks, And Energy Drinks})
2. By Source (Plant, Animal, Microbial)
3. By Form (Capsules, Tablets, & Soft gels, Powder and Liquid & Gummies)
4. By Distribution Channel (Stored-Based (Supermarkets & Hypermarkets, Specialty Stores, Others), Non-Stored Based)
5. By Country (UAE, Saudi Arabia, Bahrain, Oman, Qatar, Kuwait)
6. By Competitors (Pfizer Inc, Bayer AG, Vitabiotics Ltd, Perrigo Company PLC, Nestlé SA, Danone, BASF S.A., PepsiCo Inc, General Mills, Almarai Co Ltd)

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This release was published on openPR.