Nutraceuticals Market by Product and Geography - Forecast and Analysis 2021-2025

The nutraceuticals market share is expected to increase by USD 180.38 billion from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 8.52%.

This nutraceuticals market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers nutraceuticals market segmentations by product (functional food, functional beverages, and dietary supplements) and geography (North America, APAC, Europe, MEA and South America). The nutraceuticals market report also offers information on several market vendors, including Abbott Laboratories, Archer Daniels Midland Co., BASF SE, Cargill Inc., Danone SA, General Mills Inc., Kellogg Co., Nestlé SA, PepsiCo Inc., and The Coca-Cola Co. among others.

What will the Nutraceuticals Market Size be During the Forecast Period?

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Nutraceuticals Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a positive impact on the market growth during and post COVID-19 era. The increasing cost of medical treatment is notably driving the nutraceuticals market growth, although factors such as high cost of nutraceuticals may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the nutraceuticals industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Nutraceuticals Market Driver

The increasing cost of medical treatment is one of the major factors driving the nutraceuticals market growth. According to the CDC, about 610,000 people die of heart diseases in the US each year. Cardiovascular disease (CVD) accounts for 17 million deaths every year and around one-third of the total deaths worldwide. The increasing burden of diseases directly impacts the overall healthcare costs, as more patients are heavily spending on treatment, medicine, and hospitals to improve their medical condition. Furthermore, the high cost of branded drugs increases patients' pharmaceutical expenditure. Thus, many people are opting for nutraceuticals such as dietary supplements and fortified dairy products, which contain nutrients such as vitamins, proteins, carotenoids, fibers, polyphenols, and probiotics. There is an increasing need among patients to reduce the high cost associated with frequent hospital visits and treatment, particularly among patients who do not have access to advanced healthcare facilities. Thus, the demand for nutraceuticals is growing rapidly. This is expected to drive the growth of the nutraceuticals market. 

Key Nutraceuticals Market Trend

The growing preference for personalized nutrition, one of the key nutraceuticals market trends, will fuel market growth. The trend of personalized nutrition is growing, particularly among individuals with gut-related medical conditions, where generic treatment is not effective. People are making dietary changes to improve their health and are opting for tailored nutritional solutions. To keep up with this trend, market vendors are also introducing specialized food products for such customers. Such products are tailored for people with conditions like celiac disease and gluten allergies. Moreover, personalized nutrition is gaining high popularity and importance around the world. Individuals are increasingly opting for nutraceuticals to meet their nutritional requirements. The gradual adoption of prebiotic and probiotic food products by consumers as a part of a personalized nutritional diet will encourage other companies, such as General Mills and Nestlé, to offer probiotic products. The growing preference for personalized nutrition is a popular trend that will drive the market. Therefore, the gradual adoption of probiotic and prebiotic food products as part of a personalized diet will drive nutraceuticals market growth.

Key Nutraceuticals Market Challenge

High cost of nutraceuticals will be a major challenge for the nutraceuticals market during the forecast period. Nutraceutical manufacturers need to conduct R&D activities to produce innovative products that yield health benefits. Several patients are opting for nutraceuticals to avoid medical treatments and the high costs associated with treatment at healthcare centers. However, the high cost of nutraceuticals hampers the growth of the market. The increasing cost of producing raw materials adds to the cost of the final product. For instance, Vitalzym supplements offered by World Nutrition cost around $120 because of the presence of ingredients such as serrapeptase, bromelain, papain, rutin, amylase, protease, lipase, and amla extract. This supplement was introduced to promote muscle recovery, joint function, and a healthy immune system and cardiovascular system.

This nutraceuticals market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Parent Market Analysis

Technavio categorizes the global nutraceuticals market as a part of the global packaged foods and meats. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the nutraceuticals market during the forecast period.

Who are the Major Nutraceuticals Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

• Abbott Laboratories
• Archer Daniels Midland Co.
• BASF SE
• Cargill Inc.
• Danone SA
• General Mills Inc.
• Kellogg Co.
• Nestlé SA
• PepsiCo Inc.
• The Coca-Cola Co.

This statistical study of the nutraceuticals market encompasses successful business strategies deployed by the key vendors. The nutraceuticals market is fragmented and the vendors are deploying growth strategies such as new product launches as well as innovative marketing and advertising campaigns to compete in the market.

Product Insights and News

• Abbott Laboratories - The company offers a range of nutraceuticals products such as Enusre original.
• BASF SE - The company offers a range of nutraceuticals products such as Covitol.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The nutraceuticals market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Nutraceuticals Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the nutraceuticals market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The report has further elucidated on other innovative approaches being followed by manufacturers providers to ensure a sustainable market presence.

Which are the Key Regions for Nutraceuticals Market?

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32% of the market's growth will originate from APAC during the forecast period. Japan and India are the key markets for nutraceuticals market in APAC. Market growth in this region will be faster than the growth of the market in regions.

The adoption of healthy eating habits because of the growing health concerns and the presence of a wide range of vendors offering nutraceuticals products will facilitate the nutraceuticals market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The outbreak of COVID-19 had a short-term impact on the nutraceuticals market in APAC. Owing to the rising cases of COVID-19, lockdowns were imposed, which disrupted the supply and distribution of these products. However, the pandemic has encouraged people to make healthier lifestyle choices and add supplements such as functional food and dietary supplements to their daily diets to improve their immune systems, which has significantly surged the market growth.

What are the Revenue-generating Product Segments in the Nutraceuticals Market?

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The nutraceuticals market share growth by the functional food segment will be significant during the forecast period. Functional foods include prebiotics, probiotics, breakfast cereals, oats, soy, and other food products that are rich in fatty acids, dietary fiber, and carotenoids, which provide health benefits. The components of functional foods promote optimal health while reducing the risk of diseases. Vendors in the market focus on fortifying functional foods with nutrients that are usually not present in the food product to maximize the health benefits, thereby driving the demand for this segment.

This report provides an accurate prediction of the contribution of all the segments to the growth of the nutraceuticals market size and actionable market insights on post COVID-19 impact on each segment.

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What are the Key Data Covered in this Nutraceuticals Market Report?

• CAGR of the market during the forecast period 2021-2025
• Detailed information on factors that will drive nutraceuticals market growth during the next five years
• Precise estimation of the nutraceuticals market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the nutraceuticals industry across North America, APAC, Europe, and South America
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of nutraceuticals market vendors

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