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Nutraceuticals Market Size, Share, Growth Report and Forecast 2024-2032
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Nutraceuticals are products derived from food sources with extra health benefits in addition to their fundamental nutritional value. These encompass fortified foods, dietary supplements, functional foods, and medicinal foods. Their value proposition revolves around enhanced health, delayed aging, the prevention of chronic diseases, and improving life quality. From antioxidants to probiotics, nutraceuticals are pivotal in promoting health and wellness.
The momentum for the global nutraceuticals market growth arises predominantly from the escalating inclination towards natural products for health enhancement. As the lines blur between pharmaceuticals and food products, consumers are showing a marked preference for these nutrient-laden offerings. This pivot can be attributed to the rising prevalence of lifestyle diseases, spiralling healthcare costs, and the persistent drive towards a holistic approach to health.
This dynamism is complemented by robust scientific validations that shed light on the efficacies of various nutraceuticals, reinforcing their indispensability in daily regimens. With cutting-edge research opening new horizons, previously uncharted territories like marine nutraceuticals are now taking centre stage, enriching the nutraceuticals market outlook.
Parallelly, there's a surge in demand for functional foods and beverages that integrate these beneficial compounds. Green tea extracts, omega-3 fatty acids, and probiotics are making headways in everyday food products. Their omnipresence, from breakfast cereals to energy bars, exemplifies the mainstreaming of nutraceuticals.
Moreover, the personal care and cosmetics industry is not immune to the allure of nutraceuticals. The integration of vitamins, antioxidants, and other vital compounds in skincare and haircare products is becoming commonplace. Recognising their potential in skin rejuvenation, anti-aging, and overall wellness, the beauty industry is keenly infusing these elements, thus widening the nutraceuticals market size.
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One cannot overlook the digital wave that has democratised information, enabling consumers to make informed choices. With an influx of health blogs, forums, and digital platforms espousing the merits of specific nutraceuticals, there's a heightened awareness and resultant demand. E-commerce platforms, with their promise of convenience and choice, further amplify the outreach and accessibility of these products.
Nutraceuticals Market Segmentation
The market can be divided based on product type, distribution channel, form, and region.
Market Breakup by Product Type
Functional Beverages
Functional Food
Dietary Supplements
Market Breakup by Distribution Channel
Hypermarkets and Supermarkets
Pharmacies
Online
Speciality Stores
Others
Market Breakup by Form
Powder
Capsule and Tablets
Liquid
Others
Market Breakup by Region
North America
Europe
Asia Pacific
Latin America
Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global nutraceuticals market. Some of the major players explored in the report by Expert Market Research are as follows:
General Mills Inc.
Nestle SA
Koninklijke DSM N.V.
Innophos Holdings, Inc.
R. Grace & Co.
Others
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