Nutraceuticals Market by Form (Dry, Liquid), Functional Ingredient (Carotenoids, Dietary Fibers, Fatty Acids), Product, Health Benefits, Distribution Channel - Global Forecast 2024-2030

Nutraceuticals Market by Form (Dry, Liquid), Functional Ingredient (Carotenoids, Dietary Fibers, Fatty Acids), Product, Health Benefits, Distribution Channel - Global Forecast 2024-2030

The Nutraceuticals Market size was estimated at USD 289.61 billion in 2023 and expected to reach USD 316.49 billion in 2024, at a CAGR 9.38% to reach USD 542.66 billion by 2030.

Nutraceuticals are a broad category of products emanating from food sources with additional health benefits and nutritional value. The term is a combination of nutrition and pharmaceutical, coined to signify substances that can enhance health, delay the aging process, control chronic diseases, and support the structure or function of the body. These products range from secluded nutrients, dietary supplements, and diets to genetically arranged foods, herbal products, and processed foods, including cereals, soups, and beverages. Nutraceuticals find applications across various sectors; their implications for end-users are profound. From dietary supplements such as vitamins, minerals, herbs, and enzymes to functional foods and beverages enriched with bioactive compounds, these products target health-conscious consumers aiming for a holistic approach to wellness. The pharmaceutical and personal care sectors have also integrated nutraceutical ingredients to develop products with added health benefits. The growth of the nutraceuticals market is propelled by several key factors. Firstly, the rising awareness about health and nutrition among consumers worldwide has significantly contributed to the demand for these products. The geriatric global population and the increasing prevalence of chronic diseases have further accentuated this demand. Additionally, the shift towards preventive healthcare, coupled with seeking alternative treatments to pharmaceutical products, has bolstered the market. Despite the promising growth, the market faces several limitations and challenges, such as regulatory hurdles, competition from conventional food products and pharmaceuticals, and high product development and marketing costs. On the other hand, the nutraceuticals market presents numerous opportunities, including growing interest in plant-based and organic products spurred by the vegan and vegetarian movement, exploration of novel bioactive compounds with specific health benefits, and partnerships between food technology startups and established players in the pharmaceutical and food and beverage sectors.

Regional Insights

The Americas, particularly the United States, remains a significant and mature nutraceutical market. This region is characterized by high consumer awareness, a strong preference for preventive healthcare, and a robust regulatory framework spearheaded by the FDA in the U.S. The demand in South America is growing, particularly in Brazil and Argentina, driven by an increasing middle class and heightened health awareness. There is a growing trend towards vegan and plant-based diets, driving the demand for plant-based nutraceutical products. In the U.S., the FDA regulates nutraceuticals under dietary supplements, requiring compliance with specific labeling and manufacturing practices. This region presents a diverse market due to different regulatory, cultural, and economic landscapes across countries. Europe is a leader in the nutraceuticals market, boasting rigorous regulatory standards and high consumer interest in wellness and natural products. The Middle East and Africa are emerging markets with significant growth potential, driven by an expanding middle class and an increasing focus on health and wellness. APAC is the fastest-growing region in the nutraceuticals market, driven by a growing population, rising disposable income, and increasing consumer health consciousness. Countries such as China, Japan, and India are significantly growing the market, each with unique consumer preferences and regulatory landscapes. The region has seen a significant rise in online sales channels for nutraceuticals, facilitated by wide internet penetration and digital literacy.

Market Insights

• Market Dynamics
  
  The market dynamics represent an ever-changing landscape of the Nutraceuticals Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.
  • Market Drivers
    • Growing consumer inclination toward preventive healthcare
    • Increasing demand for natural and organic products
    • Expanding eCommerce platforms for easy accessibility of nutraceuticals
    • Market Restraints
      • Issues associated with the safety and efficacy of certain nutraceutical products
      • Market Opportunities
        • Ongoing innovation in nutraceutical product formulations
        • Growing interest in plant-based and organic products, spurred by the vegan movement
        • Market Challenges
          • Stringent regulatory requirements for nutraceutical products
          • Market Segmentation Analysis
            • Functional Ingredient: Increasing preference for vitamins for overall health
            • Distribution Channel: Rising demand of online distribution channel due to wide variety of products and competitive pricing
            • Market Disruption Analysis
            • Porter’s Five Forces Analysis
            • Value Chain & Critical Path Analysis
            • Pricing Analysis
            • Technology Analysis
            • Patent Analysis
            • Trade Analysis
            • Regulatory Framework Analysis
            FPNV Positioning Matrix
            
            The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Nutraceuticals Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
            
            Market Share Analysis
            
            The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Nutraceuticals Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
            
            Recent Developments
            • Hempacco Co. Inc. Enhances Manufacturing and Market Position Through Strategic Acquisition of Covalent CBD Assets
              
              Hempacco Co, Inc. fortifies its manufacturing prowess and broadens its customer reach in the nutraceutical industry by acquiring key assets of Covalent CBD, a distinguished entity in white-label and private-label nutraceuticals, focusing on hemp-based products. This strategic acquisition signifies a pivotal step in Hempacco's ambition to expand its influence within the burgeoning sectors of hemp and mushroom dietary supplements.
              
              Strengthera, a Novel Botanical Compound Enhancing Muscle Function in Seniors
              
              PLT Health Solutions has unveiled Strengthera Muscle Maintenance + Vitality, a new botanical ingredient designed to bolster muscle health and overall physical functionality, especially in individuals over 55 years of age. This ingredient, which is speculated to augment mitochondrial efficiency thereby enhancing the benefits of exercise on muscle strength, is the latest addition to the company's Mobility Solutions portfolio.
              
              Lubrizol Corporation Secures EU Food-Grade Approval for Carbopol Polymers, Enhancing Nutraceutical Product Development
              
              The Lubrizol Corporation has received EU food-grade approval for its Carbopol polymers, marking a significant advancement for nutraceutical manufacturers. Carbopol polymers, known for their multifunctional benefits, facilitate the formulation of consumer-friendly nutraceuticals through features such as improved tablet compressibility and consistent active ingredient release.
            Strategy Analysis & Recommendation
            
            The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Nutraceuticals Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.
            
            Key Company Profiles
            
            The report delves into recent significant developments in the Nutraceuticals Market, highlighting leading vendors and their innovative profiles. These include Ajinomoto Co., Inc., Amway Corporation, Archer Daniels Midland Company, Associated British Foods PLC, Balchem Corporation, Barentz International B.V., BASF SE, BIONAP S.R.L., Cargill Incorporated, Chr. Hansen Holding A/S, Danone S.A., Divi's Laboratories Limited, DuPont de Nemours, Inc., Fonterra Co-Operative Group Limited, Glanbia PLC, Ingredion Incorporated, Kerry Group PLC, Koninklijke DSM N.V., Kyowa Kirin Co., Ltd., Lonza Group, Martin Bauer Group, Nestle S.A., Pfizer Inc., Sydler India Pvt. Ltd., and ZIVO Bioscience, Inc..
            
            Market Segmentation & Coverage
            
            This research report categorizes the Nutraceuticals Market to forecast the revenues and analyze trends in each of the following sub-markets:
            • Form
              • Dry
              • Liquid
              • Functional Ingredient
                • Carotenoids
                • Dietary Fibers
                • Fatty Acids
                • Minerals
                • Prebiotics & Probiotics
                • Vitamins
                • Product
                  • Dietary Supplements
                  • Functional Beverages
                    • Dairy & Dairy Alternative Beverage
                    • Energy Drink
                    • Fortified Juice
                    • Sports Drink
                    • Functional Foods
                      • Bakery and Confectionary
                      • Cereal
                      • Dairy
                      • Snack
                      • Health Benefits
                        • Bone Health
                        • Cognitive Health
                        • Gut Health
                        • Heart Health
                        • Immunity
                        • Nutrition
                        • Weigh Management
                        • Distribution Channel
                          • Offline
                          • Online
                          • Region
                            • Americas
                              • Argentina
                              • Brazil
                              • Canada
                              • Mexico
                              • United States
                                • California
                                • Florida
                                • Illinois
                                • New York
                                • Ohio
                                • Pennsylvania
                                • Texas
                                • Asia-Pacific
                                  • Australia
                                  • China
                                  • India
                                  • Indonesia
                                  • Japan
                                  • Malaysia
                                  • Philippines
                                  • Singapore
                                  • South Korea
                                  • Taiwan
                                  • Thailand
                                  • Vietnam
                                  • Europe, Middle East & Africa
                                    • Denmark
                                    • Egypt
                                    • Finland
                                    • France
                                    • Germany
                                    • Israel
                                    • Italy
                                    • Netherlands
                                    • Nigeria
                                    • Norway
                                    • Poland
                                    • Qatar
                                    • Russia
                                    • Saudi Arabia
                                    • South Africa
                                    • Spain
                                    • Sweden
                                    • Switzerland
                                    • Turkey
                                    • United Arab Emirates
                                    • United Kingdom
                                    
                                    
                                    Please Note: PDF & Excel + Online Access - 1 Year