Nutraceuticals Market expand the application base 2025

Global Nutraceuticals Market: Snapshot

The global market for nutraceuticals holds a significant potential for growth in the future. The increasing awareness among people across the world regarding health and fitness is likely to boost the demand for nutraceuticals in the coming years. Versatile in nature, nutraceuticals find significant usage in a number of industries, such as the food and beverages, pharmaceuticals, personal care, and animal feed additives. The recent findings regarding the function-specific antioxidants are projected to open an avenue of new opportunities for players in this market.

With the tremendous rise in the demand for preventive healthcare and the increasing number of medical treatments, fueling the demand for nutraceutical products, the global market for nutraceuticals is anticipated to witness a substantial rise over the next few years. However, the need for high investment for the research and development activities may hamper the market’s growth in the years to come.

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The increased focus in emerging economies on preventive healthcare is likely to boost the demand for nutraceutical product considerably over the forthcoming years, translating into high growth of this market in the future. The usage of antioxidants in excess in the functional food and beverages industry is also projected to contribute to the growth of this market in the years to come.

Global Nutraceuticals Market: Overview 

The global market for nutraceuticals is anticipated to offer several growth opportunities for key players in the market. The increasing use of nutraceuticals for diverse applications across industries is predicted to augment global nutraceuticals market in the next few years. In addition, the tremendous demand for cosmetic products in order to enhance physical appearance is likely to boost the demand for nutraceuticals across the globe.

Global Nutraceuticals Market: Key Trends 

The increasing prevalence of non-communicable chronic diseases across the globe and the rising healthcare expenditure are projected to fuel the growth of the global nutraceuticals market in the coming few years. In addition, the growing demand for nutritional diet in several developed economies is anticipated to supplement the market’s growth.

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On the flip side, the increasing costs of nutraceuticals and the lack of knowledge among consumers regarding its benefits are expected to hamper the growth of the overall market in the forecast period. Nevertheless, nutraceuticals are considered as an alternative to OTC and prescription drugs, which is likely to generate lucrative growth opportunities for the leading players operating in the global nutraceuticals market in the next few years.

Global Nutraceuticals Market: Market Potential 

The prominent players in the global nutraceuticals market are emphasizing on the advancements in the technology and expand the application base are anticipated to accelerate the growth of the global nutraceuticals market in the coming years. Furthermore, the increasing disposable income of consumers in developing economies is projected to contribute widely towards the overall development of the market in the forecast period.

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Global Nutraceuticals Market: Regional Outlook

In the last few years, North America led the global nutraceuticals market and is anticipated to remain the topmost position across the forecast period. The increasing percentage of the health conscious population, boosting the demand of nutraceuticals is expected to supplement the growth of the North America market in the next few years. Moreover, the rising contribution from the U.S. and Canada is estimated to contribute towards the development of the market.

Furthermore, Asia Pacific is projected to account for a significant share of the global nutraceuticals market and attain a second position in the next few years. The rising growth of this region can be attributed to the growing demand for dietary supplements and functional foods from the emerging economies in this region. The growing awareness among consumers regarding the benefits of a healthy lifestyle and the rising participation in various sports are some of the other factors that are likely to fuel the growth of the Asia Pacific market in the near future.

Global Nutraceuticals Market: Competitive Analysis

According to the research study, the global nutraceuticals market is consolidated in nature, owing to the presence of a few players who are anticipated to account for a key share of the overall market in the coming years. The rising number of mergers and acquisitions and collaborations are predicted to enhance the competition among the leading players throughout the forecast period. Furthermore, the expansion of the product portfolio in order to attract a large percentage of consumers is anticipated to encourage the growth of the overall market in the coming years.

Some of the leading players operating in the nutraceuticals market across the globe are E. I. du Pont de Nemours, General Mills, Inc., Groupe Danone S.A., Archer Daniels Midland Company, BASF SE, Cargill Incorporated, Nestle S.A., and Royal DSM N.V. The rise in the number of players estimated to enter the global market in the coming years is anticipated to expand the application base of nutraceuticals, which is likely to accelerate the growth of the market in the near future.

Nutraceuticals Market to Rise to US$278.96 bn by 2021; Rising Demand across Emerging Economies to Help Market Pick Pace

Despite featuring a highly competitive vendor landscape owing to the presence of a large number of companies spread across the globe manufacturing a variety of nutraceutical products, only a handful of companies accounted for over half of the global nutraceuticals market in 2014, observes Transparency Market Research in a recent report. The top four players in the market, namely Groupe Danone S.A., BASF SE, Nestle S.A., and Royal DSM N.V. collectively held nearly 52% of the market in 2014. The market is largely price sensitive and intensely competitive and companies are being forced to find new growth avenues across emerging markets to remain profitable.

According to the report, the global nutraceuticals market is expected to expand at a 7.30% CAGR from 2015 to 2021, rising to a valuation of US$278.96 bn by 2021.

North America Remains Leading Regional Market for Nutraceuticals
Geographically, the North America nutraceuticals market held the dominant share of nearly 40% in the overall market in 2014. The high level of health-related awareness among the population and high disposable incomes can be chiefly attributed to the region’s dominant position in the global nutraceuticals market. In terms of product type, the segment of functional food accounted for the dominant share in the overall market, accounting for over 31% of the overall market in 2014 in terms of revenue contribution to the global market.

Rising Awareness about Healthcare amongst Global Population to Increase Uptake of Nutraceuticals
The global nutraceuticals market is observing increasing demand for its products owing to factors such as rising geriatric population of the globe, the rising awareness about benefits of a healthy lifestyle, and the numerous benefits of nutraceuticals. The mounting numbers of obese and diabetic people globally are also contributing to the increased demand for nutraceuticals. Despite the market contributing to less than 10% to the global food industry, growth opportunities exist and can be benefitted from if companies focus on proper business partnership models and adapt to constantly changing regulatory frameworks and consumer preferences. The market could also benefit from the increased affordability of nutraceuticals and improving media penetration in emerging economies across regions such as Latin America and Asia Pacific.

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High Costs of Products Could Hamper Market Growth to a Degree

The market’s growth is, however, restrained to a certain degree owing to factors such as threat of contamination of ingredients and raw materials, the potential ill-effects of certain products to human health, and lack of awareness about nutraceuticals in developing economies. The high costs of nutraceuticals is also a leading factor holding back the market from achieving its full potential, especially across certain regions with low capita incomes. Moreover, high raw material costs and low profit margins, along with problems involved in the process of maintaining safety, effectiveness, and quality of product add to challenges that companies in the global nutraceuticals market face.

Demand for Nutraceutical to Rise Due to Health Conscious Consumers

San Francisco, California, December 18, 2017: A recently added market study by TMR Research, titled, “Nutraceuticals Market – Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017–2025,” tries to help stakeholders in the market to take informed decisions. To that end, it furnishes detailed information on the growth drivers, hindrances, trends, and competitive dynamics in the market. It also attempts to understand the size of the market and segments it based on different parameters.

The report finds that with people becoming increasingly health conscious these days, the demand for nutraceuticals will likely receive a major fillip. Nutraceuticals, a term used for any product extracted from food sources with additional health benefits apart from the basic nutrition contained in foods, are versatile in nature. Hence they find application in a number of industries such as food and beverages, personal care, pharmaceuticals, and animal feed additives.

A rising crop of health conscious consumers, with rising disposable incomes, along with dieticians and nutritionists suggesting dietary supplements and functional foods, means the food and beverages industry have to come up with more healthy products. This has led to the demand for nutraceuticals, which are used in functional food and beverages, namely energy drinks and breakfast cereals.

A noticeable trend in the market is the rising preference for plant-based functional foods, namely oats, tomatoes, flax seeds, citrus fruits, broccoli, and cranberries, since they are known to bring down the risk of chronic diseases like cancer. Their high fiber content is also beneficial to health. In fact, rising instances of non-communicable, chronic diseases and increasing spends on healthcare too are expected to positively benefit the nutraceuticals market in the foreseeable future.

On the flipside, however, the rising price of nutraceuticals, its high research and development costs, and limited knowledge about it are posing a major challenge to its sales. Nevertheless, nutraceuticals – considered an alternative to OTC and prescription drugs – will continue generating opportunities for companies in the upcoming years on the back of rising preference of preventive healthcare and the increasing number of medical treatments.

Already, many multinational pharmaceutical and fast-moving consumer goods (FMCG) companies have forayed into the nutraceuticals market expecting the demand to increase in the future. They are trying to reach out to prospective customers via myriad channels such as pharmacy stores, supermarkets, and e-tailing.

From a geographical perspective, the region of North America is a key market for nutraceuticals which will likely account for a substantial share in the upcoming years as well. A sizeable proportion of health conscious population is propelling demand of nutraceuticals in the region. The U.S. and Canada are at the forefront of driving growth in the region.

Asia Pacific is another key market for nutraceuticals which is expected to gain significantly in the near future on the back of fast growing economies of India and China, which are home to a burgeoning middle class population looking for dietary supplements and functional foods.

The global market for nutraceuticals is currently consolidated in nature because of a few players holding most of the share in it. With growing mergers and acquisitions and collaborations, the market is projected to remain consolidated. E. I. du Pont de Nemours, Groupe Danone S.A., General Mills, Inc., Archer Daniels Midland Company, Cargill Incorporated, BASF SE, Nestle S.A., and Royal DSM N.V. are to name a few key players in the market.

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