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Global Nutraceuticals Market Value to Reach USD 336.1 Billion by 2023

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Global Nutraceuticals Market Value to Reach USD 336.1 Billion by 2023

November 03
11:30 2018

Research Cosmos – A Global Library of Market Research Reports
ResearchCosmos analyzed key categories and regions to determine the present and future nutraceutical market status and forecasted market growth from 2016 to 2023. In this report, we also discuss market strategies, patent evaluation and driving forces of the market.

The word “nutraceutical” is used to describe the nutritional or medical functional foods. Nutraceuticals, also known as medical foods, synthetic foods, phytochemicals, functional foods and nutritional supplements, including consumer products such as organic yogurts and fortified breakfast cereals, as well as vitamins and herbal remedies, plants and even genetically modified foods and supplements. Many different terms and definitions are utilized in different countries, which can lead to confusion. A nutraceutical is a standardized nutrient and pharmaceutical grade. In the USA, “nutraceuticals” do not exist as a regulatory category; they are regulated as dietary supplements and food additives by the FDA under the Federal Food, Drug and Cosmetic Act.

Global Nutraceuticals Market Size:

The Global Nutraceuticals Market is expected to reach USD 336.1 Billion by 2023, with a CAGR of 7.8% over the forecast period.

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Global Nutraceuticals Market – Drivers and Restraints:

The growth in consumer expenditure on functional foods and beverages has opened lucrative opportunities for the global nutraceutical market. Consumers, particularly those in emerged countries, are exploring healthier lifestyles to reduce the incidence of chronic and lifestyle-related diseases. These trends have reinforced the demand for dietary supplements not only as a means to improve physical performance but also as a disease prevention option. In addition to growth in developed regions, the market is also prepared to see attractive opportunities in Asia-Pacific. The enhancement of medical care infrastructure in the emerging economies of the region and the increase in disposable income as well as per capita incomes will boost the nutraceutical market in the Asia Pacific.

Global Nutraceuticals Market – Geographical Segmentation:

On the basis of geography, North America dominated the global nutraceutical market with a share of more than 39.6% in value. As people in North America become more health conscious, the demand for nutraceuticals in the region is estimated to be increased accordingly. The regional market is also expected to benefit from the steady increase in demand in Canada and the United States. The Asia Pacific claimed the second largest share of the market. The growing demand for functional foods and dietary supplements from developing economies in the Asia Pacific region is predicted to propel sales of nutraceuticals in the region. The rising preference for healthy drinks between athletes, since these drinks help them excel in sports, lose weight and stay healthy will also bode well for the nutraceutical market in Asia-Pacific. Also, Indian consumers are opting for nutraceuticals instead of their synthetic alternatives for the treatment of chronic ailments. These enhancements will provide a significant boost to the nutraceutical market in Asia-Pacific.

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Companies playing a major role in Global Nutraceuticals Market are:

BASF SE, Cargill, Royal DSM N.V., Groupe Danone S.A., Archer Daniels Midland Company, Nestle S.A., E. I. du Pont de Nemours, and General Mills, Inc. are the major players of the market.

Key Takeaways from this Report:

  • For different product types, end-use applications and industry verticals, offers calculated growth rates (CAGR %), Volume (Units), and Value ($M) in each region to estimate the market potential.
  • Identify various driving factors, constraints and untold opportunities that can impact the global marketplace
  • Know the position of your competitor based on the market shares, financial performance, strategical approaches, SWOT, product benchmarking and so on.
  • Increase overall revenue by understanding the geographical impact on sales and distribution channels.
  • Evaluate the increase in values at each step of the industry supply chain to improve process efficacy and optimize the value.
  • Understand the market dynamics of leading players like deals, partnerships, new products, mergers and acquisitions in the last four years.
  • Estimate the gaps in supply-demand, statics involved in import-export, and regulatory framework of the worldwide market in over 20 top nations.

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