Global nutraceuticals demand is projected to grow at a healthy CAGR of 5.75%. Nutraceuticals are food products that have both nutrient and pharmaceutical value. Nutraceuticals are basically foods which are necessary for well being and can be considered as extra physiological products. They can be considered as food therapies used to promote general well-being, control symptoms and prevent diseases. Nutraceuticals are of several types including functional foods which include cereal, confectionary, dairy, and snacks, functional beverages which include energy drinks, sports drinks, dairy, fortified juices, and others, dietary supplements which include vitamins, minerals, enzymes, botanicals, proteins, fatty acids, and others. Due to their healthy properties, they find application in food therapeutics, and gym supplements industry. Growing population and changing consumer preference towards healthy food with high nutritious and pharmaceutical value is expected to drive the demand of nutraceuticals for the forecast period. Additionally, increasing awareness about nutraceuticals is also another factor propelling the demand.
In 2020, the spread of COVID-19 in major global economies caused nationwide lockdowns which had an impact on a number of industries. Food industry was among the least affected industries during the pandemic. In fact, during the pandemic there was a surge in the demand of packaged healthy food This had an impact on the demand of nutraceuticals for the first half of 2020. The demand for nutraceuticals grew during the coronavirus pandemic.
Region wise, Asia pacific region holds the major share of global demand for nutraceuticals due to increasing population and food security requirements in emerging economies like India and China. Moreover, increasing preference towards packaged healthy food coupled with growing number of food industries promoting nutraceuticals is another factor influencing demand growth in the Asia Pacific region.
Years considered for this report:
Historical Period: 2015-2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022–2030
Objective of the Study:
•To assess the demand-supply scenario of nutraceuticals which covers production, demand and supply of nutraceuticals market globally.
•To analyse and forecast the market size of nutraceuticals .
•To classify and forecast global nutraceuticals market based on technology, end-use and regional distribution.
•To identify drivers and challenges for global nutraceuticals market.
•To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global nutraceuticals market.
•To identify and analyse the profile of leading players involved in the manufacturing of nutraceuticals.
Major players for nutraceuticals globally include Cargill Incorporated, DuPont, Archer Daniels Midland Company, Danone, General Mills, Nestle S.A, Innophos, WR Grace, Amway Corporation, PepsiCo Inc., Kellogg Co., Nature’s bounty.
To extract data for global nutraceuticals market, primary research surveys were conducted with nutraceuticals manufacturers, suppliers, distributors, wholesalers and end users. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various end user segments and projected a positive outlook for Global nutraceuticals market over the coming years.
ChemAnalyst calculated nutraceuticals demand globally by analyzing the historical data and demand forecast which was carried out considering imported nutraceuticals, prices, materials used for production of nutraceuticals. ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• nutraceuticals manufacturers and other stakeholders
•Organizations, forums and alliances related to nutraceuticals distribution
•Government bodies such as regulating authorities and policy makers
•Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as nutraceuticals manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
In this report, global nutraceuticals market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Market, by Application
Food Therapeutics, and Gym Supplements
Market, by Type
Functional Foods, Functional Beverages, and Dietary Supplements
Market, by Sales Channel
Direct Company Sale, Direct Import, Distributors & Traders, Retailers
Market, by Region
North America, APAC, Europe, MEA, South America
ChemAnalyst offers detailed analysis of major players including basic company details, Segmental/product information, financial matrices, growth strategies, expansion plans, collaborations, SWOT analysis etc.to give a comprehensive and meaningful insights on the respective product market.
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