Nutraceuticals Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Nutraceuticals Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The global nutraceuticals market is projected to grow at a CAGR of 7.5% during the forecast period (2021 - 2026)

The global nutraceuticals market is expected to witness consistent growth following the outbreak of COVID-19, as these include the food ingredients that provide medical or health benefits to prevent diseases as well as boosts the overall immune system. The flexibility in storage options, the demand for combined formulations with multiple benefits, increased consumer education levels, informed consumers, and the rise in health concerns among connected consumers during this period of pandemic increased the demand for nutraceutical products around the globe.

In addition, the pandemic is also a foundation stone of the start to the end of substandard nutrition, invalid claims, and smart marketing claims phrases that potentially misled the consumers. For instance, in India, ICMR and FSSAI have now been on non-negotiable terms with the claims and are demanding clinical validation of the products. ICMR has rolled out a large clinical study on Ayush ingredient for immunity, which has been tested on over 10,000 police personnel.

The rising demand for nutraceuticals with medical benefits is one of the major factors driving the nutraceuticals market growth. They contain antioxidants, probiotics, and polyunsaturated fatty acids, which help in managing health issues, like obesity, Cardiovascular disease, cancer, cholesterol, arthritis, and diabetes.

Moreover, the growing preference for personalized nutrition is one of the key nutraceuticals market trends, which may further stimulate the market growth. The trend of personalized nutrition is growing particularly among individuals with gut related medical conditions, where generic treatment is not effective.

Key Market TrendsIncreased Demand From Healthy & Functional Foods

Rising consumer interest in functional food is a result of the health benefits, performance, and perceived wellness. Owing to the ease of incorporating nutraceutical ingredients in it, the demand for functional end-products such as dairy products, bakery and confectionery, snacks, cereals, fats and oils, meat, and baby food is on the high rise.

Popular fortification includes vitamins, minerals, fiber, and protein. Currently, high-protein food is the real winner, as it became popular among fitness enthusiasts. Also, people, these days are even more concerned about their health than their baby boomer counterparts.

For companies to differentiate themselves from the competition and create space in a crowded market, they are changing their delivery systems. It has evolved beyond tablets and capsules to include newer modes of delivery, including soft chews, chewing gum, gummy bears, patches, lollipops, and quick-dissolving strips. Fortified products are offered in convenient single-serving sizes. This is the reason behind the huge demand for functional snack bars. Furthermore, nowadays, the dietary supplement has moved into more 'food-like' delivery forms, such as pudding-like squeeze packets for omega 3 fish oil, joint juice for glucosamine, and calcium in chocolate chew, etc.

Europe Emerges as one of the Largest Market for Nutraceuticals

In Europe, the nutraceuticals market is driven by anti-aging concerns among the elderly population, this market is mainly concentrated in France, Italy, Germany the United Kingdom, and Spain. Mounting pressure from the consumers, as well as regulatory authorities in Europe, are driving the need for nutraceutical products. Western Europe continues to thrive in nutraceutical sales mainly through the health professional pharmacy-based distribution. The rising obesity, cardiovascular disease, and obesity disease are expected to lead the nutraceutical industry in the forecast period. Also, functional bottled water is also growing in European countries. Sales were boosted by strong marketing for Coca-Cola's Glacéau VitaminWater brand, and from increasing consumption during sports and exercise.​ Therefore, these factors are expected to increase the consumption of nutraceutical products in European countries.

Competitive Landscape

The global nutraceuticals market is highly competitive with the presence of numerous international and domestic players. Players, such as PepsiCo, Nestle, The Kellogg Company, Herbalife, and Nature's Bounty Inc. are the leaders in the industry as consumers continue to focus on their health, it is becoming increasingly important for retailers and manufacturers to understand consumers' shifting needs in the nutraceuticals industry. The prime factors determining the market players and their positions in the concerned market are the ingredients used, target consumers, and the target market segment. The new launches in compliance with the consumer trends in the target segment are likely to further help companies better position themselves in the market.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
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Companies Mentioned

IBM Corporation
Oracle Corporation
Internap Corporation
Packet Inc. (An Equinix Inc. Company)
Scaleway Inc.
Amazon Web Services Inc
Rackspace Inc.
CenturyLink, Inc.
LightEdge Solutions, Inc

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