Global Nutraceuticals Market to Cross the Mark of USD 350 Billion by 2027, Estimated to Gain 11% CAGR during 2023 - 2031

Rising Geriatric Population Adopting Nutraceuticals is Contributing to the Expansion of the Global Nutraceuticals Market: states AMI

Houston, TX, Texas, United States - August 10, 2023 —

Global Nutraceuticals Market Introduction

The concept of nutraceutical is gaining popularity across different sectors, from the pharmaceutical business to consumer interest. Nutraceuticals are products that mix nutritional and medicinal components. They are dietary supplements or functional meals that give health advantages in addition to those provided by basic nutrition. Nutraceuticals are frequently obtained from natural sources and touted as potentially having physiological advantages or disease preventative characteristics. Vitamins, minerals, herbs, amino acids, enzymes, and other bioactive components may be found in these goods.

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Impact of Covid-19 on Global Nutraceuticals Market

Consumers are more focused on health care products as the Covid-19 epidemic causes more individuals to prioritize their health. This demand has led in an increase in the number of brands selling dietary supplements and nutraceuticals in the form of pills, gummies, powders, liquids, and other dosage formats to assist customers in meeting their nutrition requirements. COVID-19 demonstrated how nutraceuticals may be utilized to improve immune system health, among other things. Many nutraceutical research centers now prioritize the ability to enhance the human immune system against various infections and illnesses. According to the reports it was estimated that sales of dietary supplements with an immunity claim increased 21%, an antioxidant or botanical claim increased 12% and a nutritional claim increased 10%. Thus the Covid-19 pandemic has opened up huge opportunities for the growth of the overall nutraceuticals market for the forecast period 2023-2031.

Key Industry Insights & Findings: Global Nutraceuticals Market

While vitamins and minerals continue to account for the majority of worldwide supplement launches, botanicals are catching up, owing in part to the fact that many customers resorted to trusted old cures during the epidemic. By 2021, the number of product releases had nearly quadrupled, with botanical and herbal supplements accounting for one in every five launches. Besides dietary supplement use in the United States has recovered to pre-pandemic levels, with 75% of US consumers reporting supplement use in 2022, up from 80% in 2021.

Sleep disorders are a major challenge for a large population in many nations. According to the findings of a recent study, 37% of respondents had self-reported persistent issues with insomnia and sleeplessness. Nutraceuticals, including certain vitamins, minerals, amino acids, herbs, and other bioactive compounds, have been studied for their potential to improve sleep quality and manage sleep disorders.

For many years, the majority of nutraceutical products were provided in pill form; in fact, from 2021 more products were delivered in non-pill form than pill form. Experts predict that in the coming years, nearly 60% of items will be marketed without pills. There are numerous alternative non-pill formulations, but gummies are the most popular, especially for consumers who have only recently begun utilizing nutraceutical goods.

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The primary reason for the rise of the Asia Pacific nutraceuticals market is that consumer behavior has changed. According to a surveys, six out of ten consumers now seek additional functional advantages from ordinary meals and beverages. In India, 41% of customers have increased their supplement consumption in the last year. The most successful nutraceutical brands are tapping into this proactive mindset to launch effective and personalized nutraceuticals. 

The median population age increasing throughout EU Member States and more than one-fifth of the population aged 65 or older, current trends show that consumers are focused on enhancing overall health and wellbeing by embracing alternative lifestyles. Nutraceuticals are being used by consumers to increase well-being, lengthen their health span, and improve their longevity. As a result, businesses are striving to grow their visibility through collaborations and partnerships. Europe Alliance, a Swiss medical technology business, is attempting to establish a two-way relationship in which Indian nutra brands will be brought into the European market and vice versa.

Global Nutraceuticals Market Segmentation

Absolute Markets Insights has segmented the global nutraceuticals market based type, applications, form, demography, distribution channel and region further bifurcated into 29 countries.

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Global Nutraceuticals Market –Type Outlook (Revenue, USD Million, 2015 - 2031)

• Nutrients
• Vitamins
• Vitamin A
• Vitamin E
• Vitamin K
• Vitamin C
• Others
• Calcium
• Iron
• Iodine
• Others
• Herbal
• Dietary supplements
• Functional foods
• Probiotics Foods
• Prebiotic Foods
• omega-3 fatty acids
• Others
• Functional beverages
• Energy drinks
• Fortified Juices
• Dairy Beverages
• Others

Global Nutraceuticals Market – Application Outlook (Revenue, USD Million, 2015 - 2031)

• Allergy & intolerance
• Animal nutrition
• Bone & joint health
• Cancer prevention
• Diabetes
• Gut health
• Energy & endurance
• Heart health
• Immune Functions
• Infant health
• Inflammation
• Men's health
• Oral care
• Sexual health
• Mental Health
• Skin health
• Sports nutrition
• Weight management
• Women's health
• Others

Global Nutraceuticals Market – Form Outlook (Revenue, USD Million, 2015 - 2031)

• Softgel
• Liquid
• Powder
• Capsules
• Tablets
• Gummies
• Others

Global Nutraceuticals Market – Demography Outlook (Revenue, USD Million, 2015 - 2031)

• Kids
• Adults
• Geriatric

Global Nutraceuticals Market – Distribution Channel Outlook (Revenue, USD Million, 2015 - 2031)

• Online
• Offline
• Health and Beauty Store
• Pharmacies
• Hypermarket/Supermarkets

Global Nutraceuticals Market - Regional Outlook (Revenue, USD Million, 2015 - 2031)

·      North America (U.S., Canada, Mexico, Rest of North America)

·      Europe (France, The UK, Spain, Germany, Italy, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest of Europe)

·      Asia Pacific (China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Rest of Asia Pacific)

·      Middle East & Africa (Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa)

·      Latin America (Brazil, Argentina, Rest of Latin America) 

 List of Key Players in the Global Nutraceuticals Market

• Abbott
• Akums Drugs and Pharmaceuticals Ltd.
• Amway India Enterprises Pvt. Ltd.
• Bactolac Pharmaceutical, Inc
• BASF SE
• Bayer AG
• DSM
• General Mills Inc.
• Herbalife International of America, Inc.
• Natrol, LLC.
• Nestlé Health Science
• Nutraceuticals Group
• NutraPakUSA
• Pfizer Inc.
• PharmaLineaa

·      Other Market Participants

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Name: Shreyas Tanna
Email: Send Email
Organization: Absolute Markets Insights
Address: Houston, TX, Texas, United States
Phone: +1-510-420-1213
Website: https://www.absolutemarketsinsights.com/

Release ID: 89104595

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