Nutraceuticals Market Size to grow by USD 279.8 billion between 2024-2028
According to a research report “ Nutraceuticals Market” by Distribution Channel (Offline, Online) Product (Functional food, Functional beverages, Dietary supplements) Geography (North America, APAC, Europe, Middle East and Africa, South America)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 279.8 billion, at a CAGR of 9.58% during the forecast period. The global nutraceuticals market is experiencing significant growth due to the escalating burden of diseases and rising healthcare costs. Approximately 17 million deaths occur annually from cardiovascular diseases (CVD), accounting for one-third of all global mortalities. This trend increases overall healthcare expenditures as patients heavily invest in treatments, medicines, and hospitalization. Moreover, the high cost of branded pharmaceuticals compels consumers to opt for nutraceuticals, such as dietary supplements and fortified dairy products, which provide essential nutrients like vitamins, proteins, carotenoids, fibers, polyphenols, and probiotics, thereby contributing to the expansion of the nutraceuticals market..
Browse market data tables, figures, and in-depth TOC on “Nutraceuticals Market” by Distribution Channel (Offline, Online) Product (Functional food, Functional beverages, Dietary supplements) Geography (North America, APAC, Europe, Middle East and Africa, South America) Global Forecast to 2028. Download Free Sample
By Distribution Channel, the Offline segment is projected to dominate the market size in 2024
The nutraceuticals market represents a significant growth opportunity for businesses, driven by increasing consumer awareness and demand for preventive healthcare solutions. These value-added food products, fortified with essential nutrients and health benefits, cater to diverse consumer segments, including aging populations and those with specific dietary requirements. Market expansion is further fueled by technological advancements and regulatory support, making it an attractive investment proposition for industry players.
By Product, Functional food segment is expected to hold the largest market size for the year 2024
The nutraceuticals market represents a significant growth opportunity for businesses, with increasing consumer awareness and preference for preventative healthcare. These value-added food products, derived from plants or other natural sources, offer health benefits beyond basic nutrition. Market expansion is driven by demographic shifts, rising health consciousness, and technological advancements in production and delivery methods. Strategic partnerships, product innovation, and regulatory compliance are essential for market success.
North America is forecasted to hold the largest market size by region in 2024
The nutraceuticals market represents a significant growth opportunity for businesses, driven by increasing consumer awareness and demand for preventative healthcare solutions. This sector encompasses fortified foods, dietary supplements, and functional foods, all of which offer health benefits beyond basic nutrition. Market expansion is fueled by demographic shifts, rising healthcare costs, and a growing preference for natural and organic products. Companies that can effectively leverage these trends and deliver high-quality, science-backed solutions will thrive in this dynamic industry.
The Nutraceuticals Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:
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Research Analysis Overview
The nutraceuticals market is experiencing significant growth due to various factors, including spending patterns of consumers on preventive healthcare, an aging population, and increasing obesity rates. This market encompasses a wide range of products, from nutritional bars and granola bars to protein-rich snacks and functional foods. These nutraceutical snacks often contain functional ingredients such as grains, dry nuts, and probiotics, which offer additional health benefits beyond basic nutrition. Foreign investment and entrepreneurship are driving innovation in this sector, with companies producing snacks that meet international standards for sports nutrition, gut health, and weight management. Regulations play a crucial role in ensuring product safety and efficacy, particularly in areas such as dietary supplements and preventive healthcare. The geriatric population and healthcare costs associated with lifestyle-related disorders and cardiovascular disorders have also contributed to the growth of the nutraceuticals market. Self-directed care and the desire for product substitutes that offer functional benefits have further fueled demand for nutraceuticals. Overall, the nutraceuticals market is poised for continued growth as consumers seek out nutritious, convenient, and functional food options to support their health and wellness goals.
Market Research Overview
The Nutraceuticals market has witnessed significant growth in recent years, driven by consumers' increasing focus on health and wellness. Warehouse clubs, mass merchandisers, and grocery stores have capitalized on this trend, offering economical prices on nutraceuticals, including fatty acids, dietary fibers, minerals, vitamins, and their sources. Consumers seek nutritive value, texture, and quality in snack products, leading to the popularity of protein-rich food, nutritional bars, granola bars, and nutraceutical snacks. Functional ingredients, such as plant protease inhibitors from leguminous seeds and polyphenols, are in high demand. Foreign investment and entrepreneurship have fueled innovation in the nutraceutical industry, with manufacturers adhering to international standards. The fitness-conscious urban population and aging population are key consumers, with spending patterns influenced by healthcare costs, obesity rates, weight management, sports nutrition, gut health, and preventive healthcare. Immunity-boosting supplements, such as gummies, chewable tablets, and vitamin capsules, are popular. Regulations on functional foods and dietary supplements continue to evolve, addressing concerns related to malnutrition, cardiovascular disorders, and lifestyle-related disorders. The market for nutraceuticals is expected to grow further, driven by the geriatric population and self-directed care.
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