Nutraceuticals Market To Reach USD 658.11 Billion By 2028 |


Pune, India, November 29, 2021 (GLOBE NEWSWIRE) – The global nutraceuticals market size is expected to grow to reach USD 658.11 billion by 2028 while posting a CAGR of 9.3% between 2021 and 2028. Fortune Business Insights in its latest report, titled “Nutraceuticals market, 2021-2028. “, mentions that the market was worth $ 320.00 billion in 2020. Factors such as increasing diet customization and increasing investment in R&D activities are expected to propel demand for the product in the years to come.

For example, in July 2019, General Mills announced it was working with GoodBelly to produce and distribute lactose-free yogurt and a probiotic-based cereal to meet growing consumer demand. Therefore, the growing emphasis on personalizing nutrition has driven companies to introduce healthy food products around the world.

List of Companies Featured in Global Nutraceuticals Market:

  • Herbalife Nutrition Ltd. (California, United States)
  • Archer Daniels Midland Company (Illinois, USA)
  • General Mills (Minnesota, United States)
  • PepsiCo Inc. (New York, United States)
  • BASF SE (Mannheim, Germany)
  • Abbott (Illinois, United States)
  • Amway (Michigan, United States)
  • Glanbia Plc. (Ireland)
  • Danone SA (Paris, France)
  • Nestlé SA (Vevey, Switzerland)

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Massive spike in demand for healthy food products amid COVID-19

The COVID-19 pandemic has brought about a turbulent time for several economies around the world. However, it has also been an eye opener for people around the world to adopt a healthy and nutritious diet with an emphasis on boosting immunity. The demand for vitamins and minerals has increased dramatically, and people are consuming products that boost immunity to protect against chronic and infectious diseases. This should bode well for the growth of the market in the years to come.

What does the report include?

The global nutraceuticals market report comprises an in-depth analysis of the market and focuses on crucial aspects such as materials, major companies, applications, and products. In addition, the report offers an overview of the latest trends and highlights the main developments in the industry. The report further includes historical data and revenue growth forecast at global, regional and country level and analyzes the latest industry dynamics and opportunities that will impact the market growth between 2021 and 2028.

Market segmentation :

Based on the type of product, the market is divided into dietary supplements, functional foods, and functional drinks.

On the basis of product type, the dietary supplement segment held a global nutraceuticals market share of approximately 19.12% in terms of revenue in 2020 and is expected to experience considerable growth. This is due to the fact that several companies are focusing on expanding their food supplement production facilities to meet growing consumer demand.

Based on the distribution channel, the market is categorized into hypermarkets / supermarkets, convenience stores, online retail and others. Finally, on the basis of region, the market is divided into Asia-Pacific, North America, Europe, South America, Middle East, and Africa.

DRIVING FACTORS

Increase investment in product development to drive growth

In January 2020, Archer Daniels Midland Company announced the acquisition of Yerbalatina Phytoactives, a leading manufacturer of natural herbal extracts and ingredients. The company with its investment aims to strengthen its position in the market. Likewise, several companies are focusing on investing in R&D activities to develop and introduce health-promoting food products in order to meet the growing demand for nutritious products in the world. Moreover, the development of natural food products devoid of any harmful substance will drive the growth of the global nutraceutical market in the years to come.

Browse the detailed summary of the research report with the table of contents:

https://www.fortunebusinessinsights.com/nutraceuticals-market-102530

REGIONAL OVERVIEW

Asia-Pacific will remain in the foreground; Increasing demand for functional foods in North America

Among all the regions, Asia-Pacific is expected to remain dominant and occupy the highest position in the market during the forecast period. The dominance is attributable to the presence of a large population and improved living standards in countries like India, Japan and South Korea, among others, which will drive demand for nutraceuticals in the region. In addition, the region was worth $ 124.70 billion in 2020.

The North American market is expected to occupy the second position in the market, supported by the growing demand for plant-based nutritional products and the growing demand for functional foods in countries like the United States between 2021 and 2028.

COMPETITIVE LANDSCAPE:

Merger and acquisition between large companies to broaden their market prospects

The global market is made up of small, medium and large companies that strive to maintain a strong position. Large companies are focusing on expanding their portfolio of nutraceuticals by acquiring other small companies. In addition, other key players are adopting strategies such as facility expansion, partnership and collaboration to gain a competitive advantage over their rivals, which will drive the market growth in the years to come.

Key industry development:

September 2020 – Nuliv Science has introduced a new compound, Senactiv, which helps promote energy and muscle regeneration. The company further reports that the new sports product is being manufactured taking into account the growing demand for dietary supplements among consumers.

Detailed table of contents:

  • introduction
    • Scope of research
    • Market segmentation
    • Research methodology
    • Definitions and assumptions
  • Abstract
  • Market dynamics
    • Market factors
    • Market constraints
    • Market opportunities
  • Key ideas
    • Overview of the parent market
    • Supply chain analysis
    • SWOT Analysis of the Industry
    • Recent Industry Developments – Policies, Mergers & Acquisitions and
    • New product launches
    • Market analysis and information (in relation to COVID-19)
      • Impact of COVID-19 on the market
      • The supply chain challenges of the pandemic
      • Potential opportunities due to COVID-19
  • Global Nutraceuticals Market Analysis, Outlook and Forecast, 2017-2028
    • Main conclusions / summary
    • Market size estimates and forecasts
      • By product type (value)
        • Food supplements
        • Functional foods
        • Functional drinks
      • By distribution channel (value)
        • Hypermarkets / Supermarkets
        • Convenience Stores
        • Online retail
        • Others
      • By region (value)
        • North America
        • Europe
        • Asia Pacific
        • South America
        • Middle East and Africa

COT continues…!

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Take a look at the related research analyzes:

Europe Food Supplements Market Size, Share and COVID-19 Impact Analysis, By Type (Vitamins, Minerals, Enzymes, Fatty Acids, Proteins, and Others), Form (Tablets, Capsules, Powder and Liquid) and Regional Forecast, 2020 – 2027

Probiotics market size, share and COVID-19 impact analysis, by microbial genus (Lactobacillus, Bifidobacterium and yeast), application (functional food and drink, dietary supplements and animal feed), distribution channel (supermarkets / hypermarkets, pharmacies / health food stores), convenience stores, online retail and others) and regional forecast, 2020-2027

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