Nutraceuticals Market Size By Product (Functional Foods {Oils, Biscuits & bars, Baby Food, Cereals, Bread, Confectionery}, Dietary Supplements {Vitamins & Minerals Supplements , Probiotic Supplements, CBD Supplements [CBD Food, CBD beverages, CBD Pet], Pe

Nutraceuticals Market Size By Product (Functional Foods {Oils, Biscuits & bars, Baby Food, Cereals, Bread, Confectionery}, Dietary Supplements {Vitamins & Minerals Supplements , Probiotic Supplements, CBD Supplements [CBD Food, CBD beverages, CBD Pet], Pet Supplements, Nutricosmetics, Protein Supplements}, Functional Beverages {Energy drinks, Sports drinks}), By Form (Capsules and Tablets, Liquid, Powder, Gummies), By Condition (Sports, Energy and Weight Management, Cold Flu and Immunity, Gastrointestinal Health, Joint Health & Inflammation, Diabetes, Skin & Hair), By Distribution Channel (Brick & Mortar Stores, Pharmacies, E-commerce), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2022 - 2030

The global nutraceuticals market size is projected to grow massively by 2030 in view of rising geriatric population and concerns associated with new diseases.

The demand for value-added foods and supplements is rapidly escalating as consumers are getting more prone to metabolic and chronic illnesses such as diabetes and cardiovascular diseases. The elderly population is especially at a high risk of contracting novel infectious diseases like Covid-19. According to the Centers for Disease Control and Prevention (CDC), individuals above the age of 65 years accounted for 75% of Covid-19-related deaths in the U.S.

The nutraceuticals market landscape is classified into product, form, condition, and region.

Based on product, the industry is segregated into functional foods, functional beverages, and dietary supplements. Among these, the dietary supplements category is anticipated to generate USD 256.4 billion by 2030. The prevalence of a fast-paced lifestyle, unhealthy dietary habits, and a lack of nutrient intake are some of the key parameters driving consumers to add dietary supplements into their day-to-day routine.

Nutritional deficiencies are one of the major health concerns across all age groups. The World Bank estimates that 9.3 million new cases of acute malnutrition in children will be added by 2022. Meanwhile, the elderly suffer from a lack of adequate nutrition required to sustain daily metabolic functions that are slowed down due to aging.

In terms of form, the global nutraceuticals market is bifurcated into liquid, powder, capsules & tablets, and gummies. The powder segment is projected to exhibit a 3.8% CAGR between 2022 and 2030. Aside from the various health benefits, powder-based nutritional products are less prone to microbial contamination.

Moreover, these supplements are an easy mode of drug administration, especially in cases of large doses. These products offer faster absorption and dissolution as compared to solid forms, making them ideal for different consumer needs.

With respect to condition, the nutraceuticals industry is fragmented into diabetes, gastrointestinal health, joint health & inflammation, cold, flu & immunity, skin & hair, and sports, energy, and weight management. Nutraceutical products for joint health and inflammation are expected to witness tremendous demand owing to the surging prevalence of osteoarthritis across the globe. Individuals worldwide with joint pain and arthritis are increasingly adding vitamins and supplements to their daily diet.

Meanwhile, the diabetes segment is anticipated to value at USD 51.1 billion by the end of 2030 owing to the high efficacy of several nutraceutical compounds in addressing diabetes. Nutraceuticals like curcumin, and resveratrol, derived from turmeric and grapes respectively are considered to be effective in tackling various elements of diabetes.

In the regional landscape, the Asia Pacific nutraceuticals market is projected to exhibit exponential growth. The region’s massive geriatric population base will be a major contributor to industry expansion. Furthermore, rapid economic development in different countries in the region will boost the demand for fortified nutritional products.