Dublin, Oct. 06, 2021 (GLOBE NEWSWIRE) -- The "Nutraceuticals - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Nutraceuticals Market to Reach $441.7 Billion by 2026
Amid the COVID-19 crisis, the global market for Nutraceuticals estimated at US$278.8 Billion in the year 2020, is projected to reach a revised size of US$441.7 Billion by 2026, growing at a CAGR of 7.8% over the analysis period.
Functional Foods, one of the segments analyzed in the report, is projected to grow at a 7.8% CAGR to reach US$217.2 Billion by the end of the analysis period.
After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Functional Beverages segment is readjusted to a revised 8.6% CAGR for the next 7-year period. This segment currently accounts for a 35.2% share of the global Nutraceuticals market.
The U.S. Market is Estimated at $104.5 Billion in 2021, While China is Forecast to Reach $52.5 Billion by 2026
The Nutraceuticals market in the U.S. is estimated at US$104.5 Billion in the year 2021. The country currently accounts for a 34.57% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$52.5 Billion in the year 2026 trailing a CAGR of 9.6% through the analysis period.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 6.3% and 6.7% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 7.1% CAGR while Rest of European market (as defined in the study) will reach US$56.6 Billion by the close of the analysis period.
Nutraceuticals are garnering immense attention in recent years due to various trends including changing lifestyles, burgeoning middle-class segment across emerging economies, transforming dietary habits, aging population, and increased life expectancy.
In addition, the focus of R&D based pharmaceutical sector on expensive specialty drugs is increasing the burden on the healthcare system as well as resulting in higher out-of-pocket costs for drugs driving the focus on prevention than intervention. The self-care trend across the world is driving strong demand for nutraceuticals including superfoods, food and dietary supplements, sports nutrition, and functional foods & beverages.
Given the hectic lifestyles and the lack of time for consumption of the required nutrients through regular diet, the need for replenishing such essential nutrients is increasing. In this context, nutraceuticals are emerging to be the solution for meeting this requirement. Nutraceuticals are considered to be the vital link between health and food.
The market is also experiencing strong demand for personalized approaches to wellness that is driving product innovation in the areas of weight management, sports nutrition, and healthy snacking.
Other noteworthy trends benefiting market prospects in the near term include emergence of clean labeling as a new norm owing to increasing focus of consumers on ingredient list on the product; innovative delivery technologies such as microencapsulation, which protects the product from adverse conditions such as light and air; steady proliferation of advanced dietary supplement technologies in their nanoparticle and nanodispersion versions; and the rising role of pharmaceutical players, with leading companies maintaining stake in functional food & beverage and dietary supplement brands aligning with their healthcare-consumer interests.
Dietary Supplements Segment to Reach $74.8 Billion by 2026
Dietary supplements are consumed for many reasons, including nutrition enhancement, to fill the deficit for nutrients missing in the regular diet, to improve resistance against diseases, and to enhance the energy and performance levels. In general, dietary supplements are used to maintain good health and ensure overall well-being. The market is mainly driven by scientific evidences proving supplements to be rich in certain nutrients with a reduced risk of particular diseases.
Consumers find dietary supplements as alternatives to conventional medical therapies. In the global Dietary Supplements segment, USA, Canada, Japan, China and Europe will drive the 5.9% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$41.4 Billion in the year 2020 will reach a projected size of US$62 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets.
Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$7 Billion by the year 2026, while Latin America will expand at a 6.8% CAGR through the analysis period.
MARKET TRENDS & DRIVERS
- Notable Trends Transforming the Global Nutraceuticals Market
- Growing Focus on Healthy Lifestyles Amidst the Ongoing Pandemic Drives Focus onto Functional Foods
- Key Health Benefits of Functional Foods
- Natural Attribute of Functional Foods Drives their Popularity over Dietary Supplements
- Growing Focus on Health & Fitness Drives Demand for Functional Sports Energy Drinks
- Growing Consumer Emphasis on Combating Various Diet-Related Health Issues Drives Demand for Dietary Supplements
- Innovation Blurs the Line Between Supplements and Foods
- Supplementing Vitamins and Minerals Deficiencies to Fuel Market Demand
- Market Benefits from the Rising Awareness about Advantages of Supplements in Enhancing Health and Wellbeing
- Sports Nutrition Supplements Gain Immense Popularity
- Social Media's Impact on Fitness and Healthy Lifestyles Drives Consumers Towards Supplementation
- Personalization and E-Commerce Trend Gain Prominence in the Vitamins & Dietary Supplements Market
- Emergence of Nutritional Psychiatry Signal Opportunities for Mineral Supplements
- Ineffectiveness of Antibiotics Shifts Consumer Attention to Dietary Supplements
- Minerals Continue to Gain Significance in Nutraceuticals Market
- Rising Uptake of Amino Acid-Based Dietary Supplements
- Noteworthy Trends in Dietary Supplements
- Probiotics: A Step in the Right Direction towards Better Nutraceuticals
- Dairy Products: The Most Popular Probiotic Delivery Vehicle
- Probiotic Supplements Poised for High Gains
- Prebiotics: An Important Ingredient Promoting Gut Health, Brain Health, and Immunity
- Growing Role of Prebiotic Ingredients in Functional Foods
- Manufacturers of Prebiotic Ingredients See Major Opportunities in the Post-COVID-19 World
- Personalization and Semi-Personalization of Nutrition and Supplements: The Next Big Thing in Nutraceuticals
- Rising Cognitive, Mobility, and Cardiovascular or Gastrointestinal Health Needs of Expanding Aging Population: A Weighty Growth Driver
- Omega-3 Supplementation Essential for Maintaining Cognitive Function in Older People
- Increasing Prevalence of Chronic & Lifestyle Diseases Enhances Consumer Spending on Nutraceuticals
- Role of Nutraceuticals in Cholesterol Control
- Rising Diabetes Prevalence Drives Demand for Nutraceuticals
- Popular Functional Foods with Bioactive Compounds for Diabetics
- Increasing Cancer Incidence: Focus on Functional Foods
- Increasing Healthcare Costs and the Resulting Need for Preventive Medication Lends Traction to Market Growth
- Omega-3 and Other Marine Bioactive Molecules Drive Demand for Marine Nutraceuticals
- Major Marine Bioactive Molecules: Brief Details of Sources, Applications and Health Benefits
- Health Benefits of Omega-3 Fatty Acids Drive Demand in Supplements and Functional Foods
- Omega 3 Rich Fish Oil Pills: Most Effective Functional Food for Heart Health
- Growing Prominence of Functional Foods and Dietary Supplements in Weight Management Augurs Well for the Market
- Key Nutraceuticals for Weight Management
- Medicinal Mushrooms Gain Foothold in Nutraceutical Applications
- Nanoencapsulation Improves Delivery and Bioavailability of Nutraceuticals
- Growing Role of Nutraceutical Spices
- Nutraceuticals Make Inroads into the Beauty Products Market
- Focus of Women on Healthy Living Benefits Market Expansion
- Women Emerge as Major Consumers of Dietary Supplements
- Millennials' Focus on Health, Fitness, Nutrition, and Convenience Drive Robust Demand for Nutraceuticals
- Consumers Acknowledge Benefits of Nutricosmetics
- Digital Eyestrain and Other Vision Related Concerns Underline Significance of Eye Health Nutraceuticals
- Rise of Skincare Nutraceuticals
- Nutraceutical Innovations & Advancements Boost Market Growth
- Hyper-Functional Beverages
- Evidence-based Nutraceuticals
- Artificial Intelligence Influences Nutraceuticals Market
- Nutraceuticals to Develop as Science-driven Industry
- Manufacturers Innovate on Delivery Formats to Attract New Consumers
- Digital Marketing Opens up New Avenues of Growth for Market Participants
- E-Commerce Emerges as a Key Distribution Channel for Nutraceuticals
- Macro Factors and Demographic Trends Present Growth Opportunities
- Ballooning Global Population
- Urbanization Trend
- Burgeoning Middle Class Population
- Issues Confronting the Nutraceuticals Market
- Product Safety Issues
- Non-Uniform Regulatory Environment
- Poor Awareness Pertaining to Impact of Nutrition on Health
- Higher Product Costs
FOCUS ON SELECT PLAYERS (Total 283 Featured)
- Abbott Nutrition
- Amway Corporation
- ARKOPHARMA Laboratories
- BASF SE
- Bayer Healthcare AG
- CytoSport, Inc.
- Danone SA
- Glanbia Nutritionals Limited
- Glanbia Plc
- GlaxoSmithKline Plc
- Herbalife International, Inc.
- Kirkman Group, Inc.
- Mead Johnson Nutrition Company
- Meiji Holdings Co., Ltd.
- Natrol, LLC
- Natural Products, Inc.
- Nestle S.A.
- Nutraceutical Corporation
- Otsuka Pharmaceutical Co., Ltd.
- PepsiCo Inc.
- Pharmavite LLC
- Red Bull GmbH
- Rockstar Inc.
- Seven Seas Ltd.
- Suntory Holdings Limited
- The Coca-Cola Co.
- The Nature`s Bounty Co.
- Yakult Honsha Co., Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/aasbyy
