New York, NY, June 25, 2018 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Nutraceuticals Market by Type (Functional Food [Omega Fatty Acid Fortified Food, Branded Wheat Flour, Probiotics Fortified Foods, Branded Ionized Salts, and Others], Functional Beverages [Fruits and Vegetable Juices & Drinks, Non-carbonated Drinks, Dairy & Dairy Alternative Drinks, Others], Dietary Supplements [Ayurveda Extracts, Algal Extracts, Plant Extracts, Phytochemicals, Others], and Personal Care): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 - 2024”. According to the report, global nutraceuticals market was valued at approximately USD 200.2 billion in 2017 and is expected to generate revenue of around USD 317.3 billion by end of 2024, growing at a CAGR of around 6.80% between 2018 and 2024.
Nutraceutical ingredients are the part of food or whole food that has medical or health benefits. It is used in the prevention and treatment of several chronic diseases such as high blood pressure, obesity, cancer, and diabetes. People are increasingly being aware regarding the types of food & beverages that help in maintaining a balanced diet and proper health, due to increased educational levels. Manufacturers are engaged in providing healthy nutrients in the form of food & beverages by taking into consideration convenience factor for the consumers. The use of natural oils in nutraceutical products is gaining popularity and it is the foremost factor influencing the interest of consumers in the products for halting the aging effects. Moreover, rising health awareness among consumers and growing incidences of gut disease, and rickets are expected to further drive the industry growth.
Browse through 16 Tables & 12 Figures spread over 110 Pages and in-depth TOC on "Global Nutraceuticals Market Size & Growth Analysis Report 2017: Industry Statistics and Forecast 2024”.
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Nutraceuticals are garnering prominence across the world and are used in the diet of an average consumer’s on daily basis. The major reasons for increased usage of nutraceuticals are the growing incidences of lifestyle-related diseases, rising life expectancy of people, and inadequate nutrition due to current lifestyle choices of the people. Nutraceuticals have various applications which include overcoming the nutritional deficiency, muscle building, and weight management, among others. Nutraceuticals products are commonly used to meet nutritional requirements of the body and it is also used for bodybuilding in gymnasiums. Such factors are anticipated to drive the industry growth over the forecast period.
The nutraceuticals market is segmented on the basis of type into functional food and functional beverages, dietary supplements, and personal care. Dietary supplements segment contributed a significant revenue share in global nutraceuticals market in 2017. Dietary supplements are used to decrease the risk associated with the malnutrition among infants and adults. Growing elderly population base, increasing birth rate, rising premature birth rate, and a number of people suffering from malnutrition are some of the factors expected to increase the demand for clinical nutrition products over the forecast timeframe.
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North America held substantial revenue share in nutraceuticals market in 2017, as it is a mature market. Growing geriatric population base coupled with rising healthcare expenditure is the major driving factor for nutraceuticals market growth over the forecast period. Furthermore, North America was the significant geographical market for functional foods due to the launch of new products by the industry players.
The Asia Pacific dominated the global nutraceuticals market and contributed to highest revenue share in 2017. Market growth is most likely to be observed in China, India, and other emerging countries. The organization also reported that, until 2012, Japanese women have the longest life expectancy of around 87 years globally. Rise in life expectancy of the population, growing health concerns, and rising awareness levels among people could increase the demand for superior quality of life. Such factors are projected to drive nutraceuticals market growth in the Asia Pacific region.
Browse the full "Nutraceuticals Market by Type (Functional Food [Omega Fatty Acid Fortified Food, Branded Wheat Flour, Probiotics Fortified Foods, Branded Ionized Salts, and Others], Functional Beverages [Fruits and Vegetable Juices & Drinks, Non-carbonated Drinks, Dairy & Dairy Alternative Drinks, Others], Dietary Supplements [Ayurveda Extracts, Algal Extracts, Plant Extracts, Phytochemicals, Others], and Personal Care): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 - 2024 " report at https://www.zionmarketresearch.com/report/nutraceuticals-market
Europe is the third largest regional nutraceuticals market and it is expected to show significant growth over the forecast period. Strict regulatory approval process and high cost associated with the research and development of nutraceutical product that increases the price of the products are expected to restrain industry growth.
The Latin America and the Middle East and Africa is the lucrative market. The growth is attributed due to increasing trend of health maintenance and wellbeing across various countries in the region. Moreover, changing demographic patterns and increasing employment in different geographical markets have also aided in the expansion of the nutraceuticals sector in the region.
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Some of the industry players in the nutraceuticals market include E. I. du Pont de Nemours, Archer Daniels Midland Company, Nestle S.A, General Mills, Inc., Cargill Incorporated, Groupe Danone S.A., Royal DSM N.V., and BASF SE.
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This report segments the global nutraceuticals market as follows:
Global Nutraceuticals Market: Type Segment Analysis
- Functional Food
- Omega Fatty Acid Fortified Food
- Branded Wheat Flour
- Probiotics Fortified Foods
- Branded Ionized Salts
- Others
- Functional Beverages
- Fruits and Vegetable Juices & Drinks
- Non-carbonated Drinks
- Dairy & Dairy Alternative Drinks
- Others
- Dietary Supplements
- Ayurveda Extracts
- Algal Extracts
- Plant Extracts
- Phytochemicals
- Others
- Personal Care
Global Nutraceuticals Market: Regional Segment Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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