Nutraceuticals Market (By Type: Dietary Supplements {Proteins & Peptides, Vitamins & Minerals, Herbals, and Others}, Functional Beverages {Fruit & Vegetable Juices and Drinks, Dairy & Dairy Alternative Drinks, Noncarbonated Drinks, and Other}, Functional Food, and Personal Care; By Form: Capsules, Liquid & Gummies, Tablets & Soft Gels, Powder, and Others) - Global Industry Analysis, Market Size, Share, Growth, Trends, Regional Outlook and Forecasts, 2022 - 2030


The global nutraceuticals market was estimated at US$ 498.86 billion in 2021 and is expected to hit US$ 1025 billion by 2030, at a CAGR of 8.33% during the estimate period 2022 to 2030.

Nutraceuticals Market Size, 2021 to 2030

Market Overview:

Nutraceuticals is a comprehensive umbrella term which is used to label any product acquired from food origin with additional health advantages over and above the basic nutritious value available in foods. Nutraceuticals can be regarded as non-precise biological remedies used to boost general health, regulate indications and avert malignant developments. The explanation of nutraceuticals and allied output generally relies on the origin. Nutraceuticals can be segmented on the foundation of their natural basis, pharmacological circumstances, as well as chemical structure of the products. Most often nutraceuticals are organized in the following classes: functional food, dietary supplements, pharmaceuticals, and medicinal food.

Crucial factors accountable for market growth are:

  • Development of function-specific antioxidants
  • Increasing disposable income
  • Increasing need for preventive healthcare
  • Growing awareness regarding health and well-being
  • Constant innovations
  • Increasing prevalence of lifestyle related disorders
  • Increasing number of fitness centers in developing regions
  • Rise of e-commerce industry

COVID-19 Impact on Global Nutraceuticals Market

The nutraceutical supply chains are struggling on a global scale to keep pace with the rapid spread of the COVID-19 virus. Most of the companies have their manufacturing units in Asia. The disruption in supply chain due to the COVID-19 pandemic has caused a slump in the availability of nutraceuticals across the globe.

The disruptive effects of the novel coronavirus pandemic have placed an enormous strain on the global supply of nutraceutical products, thus increasing the risk of shortages. Although production across various industries in Asia has gradually resumed, the U.S. pharmaceutical and nutraceutical manufacturers, which heavily source directly and indirectly from Asia, are exposed to high risks in supply shortages. However, the COVID-19 pandemic has also presented growth opportunities for the manufacturers of nutraceuticals as the focus has shifted towards consumption of supplements such as multi-vitamins, omega-3 fatty acids, and protein supplements for maintaining a stronger immunity.

Report Scope of the Nutraceuticals Market

Report Highlights Details
Market Size US$ 1025 Billion by 2030
Growth Rate CAGR of 8.33% From 2022 to 2030
Base Year 2021
Historic Data 2017 to 2021
Forecast Period 2022 to 2030
Segments Covered Type, Form, Sales Channel
Regional Scope North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)
Companies Mentioned Archer Daniels Midland Company, General Mills, Inc., I. du Pont de Nemours and Company, Aland (Jiangsu) Nutraceutical Co., Ltd., BASF SE, Cargill, Incorporated, Royal DSM N.V., Groupe Danone S.A., Nestle S.A., PepsiCo Inc.

 

Significant Market Trends:

Dietary Supplements Segment Reported Foremost Market Stake in 2021

The dietary supplements segment displayed a major share in the worldwide nutraceuticals market in 2021. Dietary supplements such as vitamins, minerals, and protein are the most frequently used nutraceuticals worldwide. Their acceptance has augmented rapidly in the earlier few years. Many studies have suggested that dietary supplements can enhance health, reimburse for unhealthy eating ways, and also lessen risk of developing chronic ailments. Moreover, factors such as easy availability and low cost augment the demand for dietary supplements.

Nutraceuticals Market Share, By Product, 2021 (%)

The functional food segment accounted revenue share of around 41% in 2021. Functional beverages are expected to grow at highest CAGR within the forecast time-duration. In the functional food segment, the prebiotics and probiotics segment is expected to hit highest CAGR of 11.5% from 2021 to 2030.

Tablets & Soft Gels Dominated the Market Revenue by Form in 2021

Nutraceuticals can be obtained over-the-counter and are also sold through e-commerce sites. Nutraceuticals are predominantly consumed in the form of tablets and soft gels due to ease of storage and consumption. Moreover, higher shelf life and easy packaging also contributes to the high popularity of nutraceuticals tablets and soft gels.

North America is Estimated to be the Largest Market for Nutraceuticals

The comprehensive research account covers substantial projections and inclinations of nutraceuticals throughout chief regions encompassing Africa, Asia Pacific, Europe, Latin America, North America, Middle East, and. By region, nutraceuticals market is led by North America due to presence of major manufacturers, high disposable income, and increasing focus on physical appearance.

Nutraceuticals Market Share, By Region, 2021 (%)

Europe reported succeeding highest share predominantly owing to greater elderly population and growing occurrence of chronic ailments. Asia Pacific is projected to advance at the highest compounded annual growth rate majorly owing to increasing popularity of e-commerce websites, growing awareness about importance of well-being and health, and the rising middle-class populace. Middle East, Latin America, and African region is expected to exhibit note-worthy growth in the projected time-frame.

Global Nutraceuticals Market 2021 to 2030

Top Players contending in the Market:

The companies focusing on research and development are expected to lead the global nutraceuticals market. Leading competitors contending in global nutraceuticals market are as follows:

  • Archer Daniels Midland Company
  • General Mills, Inc.
  • I. du Pont de Nemours and Company
  • Aland (Jiangsu) Nutraceutical Co., Ltd.
  • BASF SE
  • Cargill, Incorporated
  • Royal DSM N.V.
  • Groupe Danone S.A.
  • Nestle S.A.
  • PepsiCo Inc.

With the aim of well recognizing the present standing of nutraceuticals, and guidelines implemented by the developed countries, Precedence Research anticipated the future advancement of the nutraceuticals industry. This study bids qualitative and quantitative intelligences on nutraceuticals market and estimation of business size and development trend for feasible market sectors.

Major Market Segments Covered:

By Type

  • Dietary Supplements
    • Vitamins
    • Botanicals
    • Minerals
    • Proteins & Amino Acids
    • Fibers & Specialty Carbohydrates
    • Omega Fatty Acids
    • Others
  • Functional Beverages
    • Energy Drinks
    • Sports Drinks
    • Functional Juices
    • Others
  • Functional Food
    • Carotenoids
    • Dietary Fibers
    • Fatty Acids
    • Minerals
    • Prebiotics & Probiotics
    • Vitamins
    • Others
  • Personal Care

By Form

  • Capsules
  • Liquid & Gummies
  • Tablets & Soft Gels
  • Powder
  • Others

By Sales Channel

  • Specialty Stores
  • Supermarkets/Hypermarkets
  • Convenience Stores
  • Drug Stores/Pharmacies
  • Online Retail Stores
  • Other

By Geography

  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
  • Asia-Pacific
    • China
    • India
    • Japan
    • South Korea
    • Malaysia
    • Philippines
  • Latin America
    • Brazil
    • Rest of Latin America
  • Middle East & Africa (MEA)
    • GCC
    • North Africa
    • South Africa
    • Rest of the Middle East & Africa

Frequently Asked Questions

How much is the nutraceuticals market worth?
According to Precedence Research, the global nutraceuticals market size is expected to be worth around USD 1025 billion by the end of 2030.
What is the nutraceuticals market growth rate?
The global nutraceuticals market is exhibiting a CAGR of 8.33% during the estimate period 2021 to 2030.
Why north america region will dominate the global nutraceuticals market?
North America will dominate the global industry due to rising demand for fortified food and stringent government regulations in the U.S. and Canada of the North America.
Which product segment was displayed a major share in the nutraceuticals market in 2021?
The dietary supplements segment displayed a major share in the worldwide nutraceuticals market in 2020. The growth is attributed to increasing awareness regarding health and growing healthcare expenditure across the globe.
Why Asia Pacific is projected to advance the highest CAGR in the nutraceuticals market?
Asia Pacific is projected to advance at the highest compounded annual growth rate majorly owing to increasing popularity of e-commerce websites, growing awareness about importance of well-being and health, and the rising middle-class populace.
Which major companies are functioning in the global nutraceuticals market?
The major companies functioning in the worldwide nutraceuticals market are Archer Daniels Midland Company, General Mills, Inc. E. I. du Pont de Nemours and Company, Aland (Jiangsu) Nutraceutical Co., Ltd. BASF SE, Cargill, Incorporated, Royal DSM N.V. Groupe Danone S.A. Nestle S.A. and PepsiCo Inc. among others.
Which factors are driving the nutraceuticals market growth?
Nutraceuticals industry is growing at the significant pace owing to increasing demand for the functional food or fortified food among the global population. Addition to this, government and the regulatory bodies in the global market are continuously focusing and embossing the regulatory mandates for the food fortification which can have a positive impact on the growth of the global nutraceuticals market over the forecast period of time.
Why nutraceuticals?
Nutraceuticals refers to the specific food products which offers various health benefits along with the base nutritious values of the food products. Nutraceuticals are gaining huge attraction in the recent years as it helps to prevent numbers of diseases. Growth in the awareness among the individuals across the globe is fuelling demand for the nutraceuticals.
  • Report Code:1215
  • Category:Food and Beverages
  • No. of Pages:150+
  • Format:PDF/PPT/Excel
  • Status:Published

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