Global Nutraceuticals Market Outlook 2024: Global Opportunity and Demand Analysis, Market Forecast, 2016-2024

Global Nutraceuticals Market

Market Overview

Nutraceuticals are the medicines or nutritional functional foods that are extracted from variety of food sources to administer supplementary benefits simultaneously with basic health benefits. Nutraceuticals is a perfect blend of two words:-“nutritional” which means nutritive food ingredients and “Pharmaceuticals” which means medications.  

Nutraceuticals work as a dietary supplements for chronic diseases. They also pledge with gut complications such as food allergies, migraine and tiredness etc. People intake nutraceuticals in consideration of addressing the anticipated nutritional shortfalls. The market of nutraceuticals is an emerging market due to increasing awareness of people about nutritional supplements, also the availability of different sort of vitamin and minerals fortified shampoos, creams etc. Globally, nutraceuticals are becoming a part of consumer’s daily diets due to growing ageing population. They can be taken in form of capsules, tablets, creams and liquid which not only provide a healthy and better life to consumers but also help in maintaining the proper physique.

The US market of nutraceuticals is the dominating market which is valued at approximately USD 60 billion in 2016 because of increasing use of dietary supplements and functional food & beverages. The European market of nutraceuticals is also valued around USD 40 billion in 2016 due to constant increase in new product development and innovation, change in eating habits of people etc. Since the market of nutraceuticals is an emerging market so there are opportunities that market will be one of the important market in forthcoming years because of shifting of customers from synthetic supplements to natural supplements. However, there are various alternatives available for nutraceuticals market which will change the preference of consumers and hence work as restraints for nutraceuticals markets.

Market Segmentation

On the basis of products

• Functional foods

• Prbiotics fortified food
• Omega fatty acid frtified food
• Branded inized salt
•  Branded wheat flur
• Other

• Functional beverages

• Fruit & vegetable juices and drinks
•  Dairy & dairy alternative drinks
• Nn carbonated drinks (bottled water, tea, and coffee)
•  Other

• Dietary supplements

•  proteins & peptides
• vitamins & minerals
• herbals (ayurveda extracts, plant extracts, algal extracts, and phytochemicals)
•  Others (fatty acids and fiber).

On the basis of health benefits

• Gut health
• Health benefit
• Bone health
• Immunity
• Nutrition
• Weight management
• Others (depression, asthma, and oral problems)

On the basis of application​​​​​​​

• animal nutrition
• functional food
• personal care

On the basis of end user​​​​​​​

• Sports
• Digestive health
• Clinical nutrition
• Hospitals.

On the basis of region​​​​​​​

• North America (US, Canada) {Market Share (%), Market Size (USD Billion), Consumption (%)}
• Europe (UK, France, Italy, Germany, Spain, Hungary, Sweden, Russia, Poland and Rest of Europe) {Market Share (%), Market Size (USD Billion), Consumption (%)}
• Middle East and Africa (GCC Countries, North Africa, South Africa and Rest of Middle East & Africa) {Market Share (%), Market Size (USD Billion), Consumption (%)}
• Latin America (Brazil, Mexico and Rest of Latin America) {Market Share (%), Market Size (USD Billion), Consumption (%)}
• Asia Pacific (China, Japan, India, Singapore, South Korea, Australia, New Zealand and Rest of Asia-Pacific) {Market Share (%), Market Size (USD Billion), Consumption (%)}
• Rest of the World {Market Share (%), Market Size (USD Billion), Consumption (%)}

Market Size and Forecast (2016-2024)

The emerging market of nutraceuticals is expected to grow from USD 192 billion in 2016 to USD 300 billion in 2024 at a promising CAGR of 7.5 % over the forecast year i.e. 2016-2024 due to increasing number of chronic diseases such as  arthritis, asthma, cancer etc and several other factors.

On the basis of products, the beverage segment dominated the nutraceuticals market in 2016 with the revenue of USD 88 Billion followed by food segment that hold the market size of USD 67.5 Billion at a CAGR of 6.5% over the forecast period.

On the basis of end user, digestive health is said to have the highest CAGR of around 8% in forthcoming years. Based on the region North America is the dominating region currently holding the market share of around 45% due to increased concern in healthy diet of consumers.

Key Trends and Growth Drivers

There are different growth drivers that influence the market of nutraceuticals. They are:

• Increasing consumer awareness about healthy and dietary foods.
• Ailment of chronic disease.
• Also the rising of disposable income of people.

       Restraints

However though the market of nutraceuticals is an emerging market but although there are some hindrance too that curtail the market from growing. They are:

• The cost of products is too high and expensive.
• Some products are not widely available at stores.
•  Cheap alternative of products

Key Findings

• Due to rapid surge in demand for Probiotics DU PONT DE NEMOURS and company has announced an investment to expand the market of pro biotic.
• A company name J+D labs pharma manufacturing Inc. who was the manufacturer of nutraceuticals industry has been acquired by Captek Softgel International for proper functioning of nutraceuticals products who were the manufacturers of dietary supplements.

Key Players

• E. I. du Pont de Nemours and Company,
  • Synopsis
  • Business Strategy
  • Product Portfolio
  • SWOT Analysis
• Emami Limited
• Alkem Laboratories Limited
• Amway
•  Archer Daniels Midland Company (ADM)
•  Britannia Industries Limited
•  British Biologicals
•  Cadila Healthcare Limited
•  Cargill Inc
• Dabur India Limited

Scope Background

Market Synopsis

Market Segmentation

The global nutraceuticals market is segmented as follows:

• On the basis of products (Market Size, Demand Analysis and Growth Analysis)
• On the basis of health benefits (Market Size, Demand Analysis and Growth Analysis)
• On the basis of application (Market Size, Demand Analysis and Growth Analysis)
• On the basis of end user (Market Size, Demand Analysis and Growth Analysis)

Global Nutraceuticals Market Report covered insights of below mentioned regions:

• North America (U.S., Canada) {Market Size, Growth Analysis and Opportunity Analysis}
• Latin America (Argentina, Mexico, Brazil and Rest of Latin America) {Market Size, Growth Analysis and Opportunity Analysis}
• Europe (Germany, Italy, Spain, France, The U.K., Netherlands, Sweden, Hungary, Russia, Poland, Rest of Europe) {Market Size, Growth Analysis and Opportunity Analysis}
• Asia-Pacific (China, India, Singapore, Japan, Australia, New Zealand, South Korea and Rest of Asia Pacific) {Market Size, Growth Analysis and Opportunity Analysis}
• Middle East and North Africa (MENA) {Market Size, Growth Analysis and Opportunity Analysis}
• Rest of World  {Market Size, Growth Analysis and Opportunity Analysis}

Market Dynamics: Growth Drivers, Restraints and Opportunities

• Risk Factors
• Regional Variations
• Recent Trends and Developments

Key Market Players

• Synopsis
• Business Strategy
• Product Portfolio
• SWOT Analysis

Porter’s Five Force Model

Market Landscape: Competition and Beyond

Market outlook for business players and entry level players to ascertain their business in dynamic ecosystem

Expert Analysis

Concluding Remark