South Korea, Seoul, Sept. 09, 2022 (GLOBE NEWSWIRE) -- The global nutraceutical supplements market is projected to grow at a CAGR of nearly 8% till 2031, touching an impressive valuation of US$ 175 Bn, according to Fact.MR’s newly published report. From 2016 to 2020, sales expanded at a CAGR of 6%, closing in at a value exceeding US$ 80 Bn.
According to Fact.MR’s study, demand for prebiotics & probiotics dietary supplements is rising rapidly and projected to register over 10% y-o-y in 2021. Increasing awareness regarding the use of probiotics to maintain good health and to reduce the risk of multiple diseases has led to significant demand for prebiotics and probiotics as dietary supplements.
Factors like the increasing prevalence of chronic diseases, such as diabetes, cholesterol, and obesity the increasing geriatric population, and the growing demand for alternate pharmaceutical products are significantly contributing to the growth of nutraceutical supplements.
Rising consumer awareness on fitness and health is increasing demand for on-the-go nutritional snacks, contributing to enhanced growth.
With its wide range of benefits, nutraceuticals have shown significant demand from patients with medical indications related to oxidative stress including allergy, cardiovascular diseases, eye conditions, Alzheimer's disease, obesity, and Parkinson's disease.
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Key Takeaways from the Market Study
- Vitamins & mineral nutraceutical supplements to likely to hold 36% revenue
- Collectively, herbal and protein & amino acid supplements to generate 50% of global demand
- Preference for nutraceutical softgels high, projected to account for at least 1 out of 4 sales
- By consumer orientation, unisex supplements to hold 2/5th market share through 2021
- U.S to dominate the North American market, yielding 30% revenue share
- 2/5th of the South Asian market demand to be accounted for by India until 2031
“Heightening personalized nutrition regimes amid growing prevalence of sedentary lives is expected to stimulate demand for nutraceutical supplements, spurring large-scale innovations and new product launches,” remarks the Fact.MR analyst.
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Market Competition
The global nutraceutical supplements market is highly competitive in nature. Amid the growing competition in the nutraceutical supplements market, leading players are focusing on strengthening their market position and gaining traction in the competitive global market.
Some of the major players in the market are Kraft Heinz Company, The Hain Celestial Group, Conagra, General Mills, Kellogg's, Nestlé, Amway, Barilla Group, Pfizer Inc., Freedom Food Group Limited, and others.
- In April 2021, Nestlé and KKR entered into an agreement in which Nestlé will acquire core brands of The Bountiful Company for USD 5.75 billion. The Bountiful Company is the number one pure-play leader in the highly attractive and growing global nutrition and supplement category.
- The transaction includes the high-growth brands- Nature's Bounty®, Solgar®, Osteo Bi-Flex®, and Puritan’s Pride® as well as the company's US private label business. These brands will be integrated into Nestlé Health Science, creating a global leader in vitamins, minerals, and nutritional supplements.
Key Segments Covered
- Product Type
- Vitamins & Mineral Nutraceutical Supplements
- Herbal Nutraceutical Supplements
- Protein & Amino Acid Nutraceutical Supplements
- Prebiotics & Probiotics Nutraceutical Supplements
- Form
- Nutraceutical Supplement Softgels
- Nutraceutical Supplement Capsules
- Nutraceutical Supplement Liquids
- Nutraceutical Supplement Tablets
- Nutraceutical Supplement Powder & Granules
- Consumer Orientation
- Nutraceutical Supplements for Men
- Nutraceutical Supplements for Kids
- Nutraceutical Supplements for Women
- Unisex Nutraceutical Supplements
- Sales Channel
- Nutraceutical Supplement Sales via Drug Stores
- Nutraceutical Supplement Sales via Health & Beauty Stores
- Nutraceutical Supplement Sales via Modern Trade Channels
- Nutraceutical Supplement Sales via Direct Selling
- Nutraceutical Supplement Sales via Online Retailers
- Nutraceutical Supplement Sales via Convenience Stores
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Key Points Covered in Nutraceutical Supplements Industry Survey
- Market Estimates and Forecasts (2016-2031)
- Key Drivers and Restraints Shaping Market Growth
- Segment-wise, Country-wise, and Region-wise Analysis
- Competition Mapping and Benchmarking
- Brand Share and Market Share Analysis
- Key Product Innovations and Regulatory Climate
- COVID-19 Impact on Nutraceutical Supplements and How to Navigate
- Recommendation on Key Winning Strategies
More Insights Available
Fact.MR, in its new offering, presents an unbiased analysis of the nutraceutical supplements market, presenting historical demand data (2016-2020) and forecast statistics for the period of 2021-2031.
The study divulges compelling insights on the nutraceutical supplements market based on the product type (vitamins & minerals supplements, herbal supplements, protein, and amino acid supplements, and prebiotics & probiotics dietary supplements), consumer orientation (men, kids, women and unisex), form (softgels, capsules, liquids, tablets, and powders and granules), and sales channel (drug stores, health and beauty stores, modern trade channel, direct selling and online retailers), across seven regions (North America, Latin America, Europe, East Asia, South Asia, Oceania and Middle East & Africa).
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