Nutraceuticals Market Size, Share, Top Major Players, Business Strategies, Opportunities And Forecast To 2033

The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Nutraceuticals Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $696.13 billion In 2028 At A CAGR Of 10.9% :
The nutraceuticals market size has grown rapidly in recent years. It will grow from $415.47 billion in 2023 to $460.18 billion in 2024 at a compound annual growth rate (CAGR) of 10.8%. The growth in the historic period can be attributed to health consciousness, consumer education, regulatory support, scientific research, aging population.

The nutraceuticals market size is expected to see rapid growth in the next few years. It will grow to $696.13 billion in 2028 at a compound annual growth rate (CAGR) of 10.9%. The growth in the forecast period can be attributed to continue health consciousness, global economic trends, shift in dietary patterns, digital health and e-commerce, rise of personalized nutrition. Major trends in the forecast period include functional beverages, sports nutrition and performance, mental wellness solutions, immune system support, gut health focus.

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Nutraceuticals Market Major Segments
The nutraceuticals market covered in this report is segmented -
1) By Type: Vitamins and Minerals, Probiotics, Proteins and Peptides, Omega Fatty Acids, Other Types
2) By Source: Plant, Animal, Microbial
3) By Application: Functional Food, Functional Beverages, Dietary Supplements, Personal Care, Animal Nutrition, Other Applications
4) By Product Forms: Capsules, Tablets, Softgels, Powder, Liquid, Gummie*s
5) By Distribution Channel: Specialty Stores, Supermarkets/Hypermarkets, Convenience Stores, Drug Stores/Pharmacies, Online Retail Stores, Other Distribution Channels

Key Driver - Geriatric Population Surge Fuels Nutraceutical Market Growth By Addressing Health And Immunity Needs

The rise in the geriatric population is significantly contributing to the growth of the nutraceutical market. Nutraceuticals are products that can be taken by an individual along with a normal daily diet to get additional nutrients to promote good health and immunity. After a certain age, especially after 65 years or above, an individual requires additional nutrients to build immunity to fight against several diseases such as diabetes, cholesterol, blood pressure, and other age-related issues. Nutraceuticals are used as daily supplements to meet the daily requirements of nutrients. For instance, in October 2022, according to the World Health Organization, a US-based specialized health agency, globally, 1 in 6 individuals would be 60 or older by 2030 and is expected to reach 2.1 billion elderly people by 2050. Therefore, the rise in the geriatric population is driving the growth of the nutraceutical market.

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Prominent Trend - Product Innovation Enhanced Health Solutions In The Nutraceutical Market

New product development is the key trend being followed by the companies operating in the nutraceutical market. This is due to the presence of many nutraceutical companies operating in the market and their desire to extend their growth in new areas to be a leader in the market. For instance, in December 2021, Nestlé Health Science, a Switzerland-based nutrition company, developed a product named Reducose with the use of the plant-based ingredient mulberry leaf extract powder as an artificial sweetener for prediabetic patients, which helps to maintain a normal blood glucose response. The Reducose by Nestle Health Science has been proven to have a positive effect on postprandial blood glucose levels by reducing them by 40%. It can be added to meals or drinks to sweeten them without altering the original taste and texture of the food.

Nutraceuticals Market Players
Major companies operating in the nutraceuticals market report are Cargill Incorporated, Archer Daniels Midland Company, Nestle SA, BASF SE, PepsiCo Inc., Abbott Laboratories, Groupe Danone, Evonik Industries AG, General Mills Inc., Arla Foods amba, Kellogg Company, E. I. du Pont de Nemours and Company (DuPont), Ajinomoto Co Inc., Kerry Group plc, Royal DSM NV (Royal DSM), Amway Corporation, Ingredion Incorporated, Glanbia plc, Herbalife International of America Inc., Lesaffre, W. R. Grace & Co-Conn, Chr. Hansen Holding A/S, Innophos Holdings Inc., Nature's Sunshine Products Inc., Nutraceutical Corporation, NOW Foods, OmniActive Health Technologies, Bactolac Pharmaceutical Inc., ChromaDex, DSM Nutritional Products AG, Lonza Group AG, Tate & Lyle plc

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Largest And Fastest Growing Region In The Market
North America was the largest region in the nutraceuticals market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the nutraceuticals market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Nutraceuticals Market Report Structure
3. Nutraceuticals Market Trends And Strategies
4. Nutraceuticals Market - Macro Economic Scenario
5. Nutraceuticals Market Size And Growth
…..
27. Nutraceuticals Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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