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The nutraceuticals market size is forecast to increase by USD 223.56 billion between 2022 and 2027, accelerating at a CAGR of 8.52%. In 2017, the US held the largest market share, projecting an annual revenue of USD 68.54 billion. The market size, historical data (2017-2021), and future forecasts are presented in terms of value (in USD billion) for all these mentioned segments.
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The rising number of health-conscious consumers are propelling the market growth during the forecast period. Many consumers have expressed concerns regarding their health in the past few years. Consumers' imbalanced diets are gradually being replaced with better food intake. Due to this, there is a growing market for functional foods and drinks that complement a diet's health benefits. Due to changes in lifestyle and work demands, there is an increase in the number of obese people. Diabetes and other disorders have become more common as a result of this. About 2.1 billion people worldwide are obese, which equates to almost 30% of the world's population in 2020. Hence all these factors will be contributing to the growth of the market in focus for the forecast period.
The offline segment was the largest segment and was valued at USD 208.83 billion in 2017. Supermarkets, department stores, hypermarkets, and convenience stores make up the offline category. Several of the biggest retail chains, including Tesco Plc (Tesco), Walmart Inc. (Walmart), and Target Corp. (Target), have distinct retailing departments for nutraceuticals at their locations. They have long been available for purchase on the shelves of retail establishments like Walmart. companies in the organized retail industry conduct their business based on a variety of variables, including geographic proximity, ease of production and inventory management, and product transportation. As a result, offline retailers are expected to witness an increase in demand during the forecast period.
Market Revenue Share by Offline Segment, 2017-2027
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APAC Holds a Prominent Position
APAC is estimated to contribute 34% to the growth of the global market during the forecast period. In North America, the US is the market leader. The area is seeing a rapid increase in urbanization in tandem with a high level of disposable income. One major element propelling the market expansion in the US is the abundance of suppliers offering nutraceutical items. For example, the US-based company Abbott provides ENSURE ORIGINAL SHAKE and other products to patients who are malnourished, in danger of malnutrition, or who are losing weight against their will.
In order to ensure that consumers receive the best products, brands are investing heavily in the American market. These investments are going towards producing nutrient-rich foods, beverages, and dietary supplements that include nutrients like probiotics, vitamins, minerals, carotenoids, polyphenols, and fibers. As a result, the region's market is expanding due to the large number of nutraceutical product manufacturers that provide a range of goods.
Market Size, By Region, Global, 2017-2027
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This market is fragmented in nature. Some significant players include Abbott Laboratories, Advanced Orthomolecular Research Inc., Amway Corp., Archer Daniels Midland Co., BASF SE, Bayer AG,
This market research and growth report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Better Being Corp., Cargill Inc., COSUCRA, Danone SA, General Mills Inc., Herbalife International of America Inc., Innutrigel AG, International Flavors and Fragrances Inc., LKK Health Products Group, Nestle SA, PepsiCo Inc., Pfizer Inc., RBK NUTRACEUTICALS Pty Ltd., and The Coca Cola Co.
The Market is experiencing significant growth worldwide, driven by the rising demand for food ingredients with medical or health benefits. Consumers are increasingly aware of the importance of nutraceuticals in supporting the immune system and addressing health concerns, especially amidst the pandemic.
The market is witnessing a surge in demand for antioxidants, polyunsaturated fatty acids, and multivitamins, reflecting the growing trend toward personalized nutrition and addressing gut-related medical conditions. These are incorporated into various products including dairy, bakery, snacks, and meat, offering fortification and protein enrichment to cater to fitness enthusiasts and health-conscious consumers. Delivery systems such as tablets, capsules, and soft chews ensure convenient consumption, while innovations like functional snack bars and omega-3 fish oil provide diverse options for meeting nutritional needs.
This market growth and forecasting report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 - 2021.
Nutraceuticals Market Scope |
|
Report Coverage |
Details |
Page number |
176 |
Base year |
2022 |
Historic period |
2017 - 2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 8.52% |
Market growth 2023-2027 |
USD 223.56 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
7.52 |
Regional analysis |
North America, APAC, Europe, Middle East and Africa, and South America |
Performing market contribution |
APAC at 34% |
Key countries |
US, Japan, India, Germany, and UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Abbott Laboratories, Advanced Orthomolecular Research Inc., Amway Corp., Archer Daniels Midland Co., BASF SE, Bayer AG, Better Being Corp., Cargill Inc., COSUCRA, Danone SA, General Mills Inc., Herbalife International of America Inc., Innutrigel AG, International Flavors and Fragrances Inc., LKK Health Products Group, Nestle SA, PepsiCo Inc., Pfizer Inc., and The Coca Cola Co. |
Market dynamics |
Parent market analysis, Market Trends and Analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Distribution Channel
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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