Nutraceuticals Market Set to Witness an Uptick during 2019 to 2025
The global nutraceuticals
market is projected to reach USD
578.23 billion by 2025, according to a new report by Grand View Research,
Inc. Rising health concerns are likely to drive the product demand over the
next eight years.
Growing awareness regarding the
consumption of healthy foods has resulted in increased demand for
nutraceuticals in the U.S. The European market is driven by a steady innovation
of high-performance natural ingredients used in nutraceuticals. Increasing
adoption of e-commerce and growing consumer awareness through social media are
further likely to augment the demand for nutraceuticals over the forecast period.
This industry is highly competitive,
and Nestle, Cargill Incorporated,
Danone, Royal DSM N.V., and Bayer Healthcare AG are some of the key
players.
Browse Research
Report On nutraceuticals Market:
The market has witnessed an increased focus on the
ingredients used for manufacturing nutraceuticals. The demand for natural
products is expected to grow at a rapid pace over the next eight years as
consumers perceive these products to be healthier and more effective as
compared to synthetic products.
Further key findings from the report suggest:
·
Dietary supplements segment is
expected to ascend at a CAGR of over 9.7% from 2017 to 2025 on account of
rising product demand from Brazil, China, India, South Korea, Poland, and
Mexico.
·
Botanical dietary supplements
segment is anticipated to witness considerable growth over the forecast period
on account of increasing popularity of nutraceuticals with natural ingredients.
These are available in numerous forms including dry, solid or liquid extracts,
tablets, capsules, powders, and tea bags. Low cost as compared to prescription
drugs and easy availability are factors expected to augment their demand over
the next eight years.
·
North America nutraceuticals
market is a mature market and is likely to progress at a CAGR of over 7.8% from
2016 to 2024. Increasing utilization of functional food and beverages by the
baby boomer population in North America is expected to augment market growth
over the forecast period.
·
Central & South America
accounted for a market share of 7.2% in 2016 and is projected to ascend at a
CAGR of 9.0% from 2017 to 2025 in terms of revenue owing to growing demand for
nutraceuticals in Brazil
·
Asia Pacific is predicted to
ascend at the fastest CAGR of 9.9% over the forecast period on account of rapid
growth of the market in China, Japan, and India
·
The global players rely on
widespread distribution networks to ensure sales in various regions.
Manufacturers are involved in extensive R&D to develop innovative products
and sustain the competition within the market.
Market players have been trying to expand their competitive
profile by setting up innovation centers for new product development. For
instance, in December 2016, Cargill started Cargill ONE Innovation Center for
developing innovative flavors and food products.
Browse Press
Release of this report:
Grand View Research has segmented the
global nutraceuticals market on the basis of product:
Nutraceuticals Product Outlook
(Revenue, USD Million, 2014 - 2025)
·
Dietary supplements
o
Botanicals
o
Vitamins
o
Minerals
o
Amino acids
o
Enzymes
o
Others
·
Functional food
o
Carotenoids
o
Dietary Fibers
o
Fatty Acids
o
Minerals
o
Prebiotics & Probiotics
o
Vitamins
o
Others
·
Functional beverage
o
Energy drinks
o
Sports drinks
o
Functional juices
o
Others
Companies such as Action Labs, Inc., Guardian Lifecare Ltd.,
Sainsbury ASDA, Whole Foods, and A & A Pharmachem operate through
third-party agreements, whereas manufacturers such as Herbalife have
established direct supply agreements through their network of sales associates.
New product development and investment in R&D
are other key strategies being adopted by key players to strengthen their
market position. Research and development efforts are primarily directed toward
developing new ingredients to be used in the manufacturing of nutraceuticals.
About Grand View Research
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of California
and headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
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