Nutraceuticals are increasingly becoming a part of the daily diet due to rising prevalence of lifestyle diseases. It is also highly popular as a biologic therapeutic used for the prevention of diseases. These factors have played a key role in the expansion of the global nutraceuticals market. High demand for nutraceuticals from the developing countries due to increasing incidence of non-communicable diseases is also expected to boost the market’s growth during the forecast period.
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Functional Beverages to Dominate the Market
Functional beverage are expected to reap huge revenue benefits in the global nutraceutical product market as they address numerous health concerns and increase hydration. Moreover, there is rise in the development of tailored fortified and functional beverages. As a result, they are increasingly preferred by the consumers, thus propelling market’s growth. Energy drinks and immunity drinks are also highly popular among the consumers.
Furthermore, increasing healthcare expenditure in the emerging countries have created significant opportunities for the nutraceutical product market’s growth. Countries with rich biodiversity are expected to highly contribute to the market’s expansion. Additionally, nutraceutical products are highly necessary in the modern world due to the rsing need for disease prevention in a natural way. The market as experienced numerous innovations such as the development of purple corn and neem extract. Such innovations have played a key role in strengthening the market’s expansion.
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In terms of geography, Asia Pacific is expected to dominate the global nutraceuticals market during the forecast period. The growth in this region is highly attributable to rising awareness regarding the consumption of healthy foods and growing demand from leading countries such as China, India, and Japan. Rich biodiversity and a sedentary lifestyle have also supported the nutraceuticals product market’s growth in this region. The food and beverages industry is expected to make a major contribution to the market’s growth in Asia Pacific