Nutraceuticals Market Forecasts to 2030 – Global Analysis By Product Type (Function Food, Dietary Supplements, Functional Beverages and Other Product Types), Source (Plant, Animal, Microbial and Other Sources), Form (Capsules & Tablets, Liquid, Soft-Gels,

Nutraceuticals Market Forecasts to 2030 – Global Analysis By Product Type (Function Food, Dietary Supplements, Functional Beverages and Other Product Types), Source (Plant, Animal, Microbial and Other Sources), Form (Capsules & Tablets, Liquid, Soft-Gels, Powder, Gummies and Other Forms), Ingredient (Aloe Vera, Amino Acids, Botanical Ingredients and Other Ingredients), Condition, Application, Distribution Channel and By Geography

According to Stratistics MRC, the Global Nutraceutical Market is accounted for $596.24 million in 2023 and is expected to reach $1186.53 million by 2030 growing at a CAGR of 10.33% during the forecast period. Nutraceuticals is a broad term used to describe any product obtained from food sources that offers additional health benefits over and above the basic nutritional value present in foods. Nutraceuticals are non-specific biological treatments used to improve overall health, control symptoms, and prevent cancerous growths. The origin is frequently used to explain the production of nutraceuticals and related products. On the basis of their natural origins, pharmacological conditions, and chemical makeup, nutraceuticals can be divided into different categories.

According to Trust for America's Health’s (TFAH), 19th annual report, 19 states in the U.S. had obesity rates over 35% in 2022, which was up from 16 states in 2021.

Market Dynamics

Driver

Development of antioxidants with specialized functions

The global Nutraceutical market expected to drive growth during the forecast period. Antioxidants are substances that aid in the body's defense against dangerous free radicals that cause oxidative stress and are linked to a number of health problems, including chronic disease, inflammation, and aging. The nutraceuticals market is being driven by the creation of antioxidants with targeted health benefits that are function-specific, like polyphenols, flavonoids, and carotenoids. For instance, antioxidants from green tea, berries, and other plant-based sources are incorporated into nutraceutical products that are marketed for their potential anti-aging, anti-inflammatory, and immune-boosting properties, among others.

Restraint

Concerns regarding safety

The global Nutraceutical market expected to hinder growth during the forecast period. Although the list of advantages of nutraceuticals is long and growing, there are also some side effects. As a result, there is a safety issue. The safety of the ingredients is a major safety concern. Herbs, botanicals, vitamins, minerals, and other bioactive substances are just a few of the many ingredients found in nutraceuticals. Nevertheless, not all of the components used in nutraceuticals are suitable for everyone. A few nutritional supplements cause allergic reactions. The dosage rate, the manufacturing procedures, and the absence of standardized safety evaluations are additional factors that raise safety concerns. Inconsistencies in manufacturing practices and quality control standards can have an impact on product quality and safety, and excessive or inappropriate use of nutraceuticals can have negative effects.

Opportunity

Treatment of prostate cancer with nutraceuticals

The global Nutraceutical market expected to drive growth during the forecast period. Prostate cancer presents difficulties in terms of treatment resistance and disease progression as it is the most prevalent type of cancer in American men and the second leading cause of cancer-related mortality. The highest prostate cancer mortality rates have been found to be among men of American and African descent. There is a need for more effective, non-toxic therapeutic approaches to manage and treat this disease, even though the current treatment methods are effective. As risk-free and powerful anti-prostate cancer treatments, nutritional supplements present an exciting opportunity. Utilizing nutraceuticals helps improve the precision of medicine's design while lowering chemotherapy-related toxicities and overcoming disease progression resistance.

Threat

Competition from traditional pharmaceuticals

The global Nutraceutical market expected to hamper the growth during the forecast period. Conventional pharmaceuticals, which are supported by in-depth research, regulatory approvals, and established marketing channels, compete with nutraceuticals. In some cases, consumers choose conventional pharmaceuticals over dietary supplements because they believe that pharmaceuticals offer more immediate and scientifically proven benefits when treating acute or severe health conditions. Moreover, the market for nutraceuticals faces competition from pharmaceuticals, especially in areas where there is scant scientific evidence demonstrating the effectiveness of nutraceuticals.

Covid-19 Impact

The nutraceuticals market has been significantly impacted by the COVID-19 pandemic. The pandemic has boosted demand for immune-stimulating and health-promoting goods, but it has also hampered the supply chain and manufacturing processes of nutraceutical businesses. The demand for sports nutrition products has also been impacted by gym and fitness center closures. However, the long-term outlook for the nutraceuticals market is positive due to rising consumer interest in wellness and preventive healthcare products.

The weight management and satiety segment is expected to be the largest during the forecast period

The weight management and satiety segment is expected to be the largest during the forecast period, due to changes in the working environment and socioeconomic conditions, health-conscious consumers are constantly looking to upgrade their eating habits. The demand for nutraceuticals for weight management is anticipated to increase along with the demand for sports nutrition products as athletes become more conscious of the importance of building muscle. Additionally, one of the key application areas is weight management, where rising obesity rates as a result of lifestyle modifications have resulted in a huge demand for dietary supplements.

The Functional foods segment is expected to have the highest CAGR during the forecast period

The Functional foods segment is anticipated to witness the fastest CAGR growth during the forecast period, due to their accessibility, affordability, and potential to enhance general health and wellness, functional foods are becoming more and more popular among consumers. They provide health benefits above and beyond those of basic nutrition. Products in this category include probiotic yogurts, energy bars, and fortified cereals. The rising demand for functional food products is primarily brought on by changing lifestyles, rising disposable income, and growing awareness of preventive healthcare.

Region with largest share

The North America region market is estimated to witness a largest share market during the forecast period. Consumers' growing health concerns and rising interest in nutraceuticals are likely to be the main factors driving the North American market. The region's nutraceutical industry has grown as a result of the region's aging population, changing healthcare spending trends, and changing lifestyles. Government restrictions on nutraceutical products and the market's vast product portfolio are a few things holding it back. However, it is anticipated that the growing trend of fortifying foods with nutraceutical products will present this market with a sizable growth opportunity.

Region with highest CAGR

During the forecast period, the nutraceuticals market is anticipated to grow at the highest CAGR in the Asia-Pacific region. This is mainly because nations like China and India are becoming more aware of preventive healthcare, changing their lifestyles, and having more disposable income. Additionally, the Asia-Pacific region has a sizable population, which offers nutraceutical companies a sizable market opportunity. Furthermore, the regulatory climate in the area is shifting in favor of functional foods and dietary supplements, which is anticipated to fuel market expansion.

Key players in the market

Some of the key players in Nutraceutical market include Abbott Laboratories, ADM Protexin Limited, Agro Tech, Ajinomoto Co., Inc., Amway Corporation, Archer Daniels Midland Company, General Mills, Inc., Groupe Danone S.A., HempFlax Group BV., Herbalife International, Inc., Ingredion Incorporated, Kellogg Company, Nestle S.A., Nutramax Laboratories, Inc., PepsiCo, Inc., Suntory Holdings Limited, The Hain Celestial Group, Inc., The Kraft Heinz Company, The Natures Bounty Co. (NBTY) and Yakult Honsha Co., Ltd.

Key Developments

In June 2022, Kellogg's Special K has introduced new Protein Snack Bars with 6 grams of protein and 90 calories. The new 90-calorie Special K Protein Snack Bars, with 6 grams of protein and two exquisite flavors, sweet Berry Vanilla and rich chocolaty Brownie Sundae, provide a simple on-the-go protein pick-me-up without sacrificing excellent taste. Special K Protein Snack Bars are sold in grocery stores around the country for USD 4.29 for a five-count package.

In February 2022, Heinz partnered with The Not Company, a leading food tech start-up, to globally innovate plant-based food products with the help of AI- technology. This partnership helped the company to transform its product portfolio and expand its business worldwide.

In February 2022, PepsiCo's Rockstar Energy brand introduced a hemp-infused drink in the United States. The ""Rockstar Unplugged"" energy drink contains hemp seed oil, B vitamins, spearmint, and lemon balm. The caffeine amount of the beverage is only 80 mg, which is much lower than the caffeine concentration of other Rockstar Energy drinks. The hemp-infused drink will be offered in three flavors blueberry, passionfruit, and raspberry cucumber, and it will include no sugar or calories.

Product Types Covered
• Function Food
• Dietary Supplements
• Functional Beverages
• Other Product Types

Sources Covered
• Plant
• Animal
• Microbial
• Other Sources

Forms Covered
• Capsules & Tablets
• Liquid
• Soft-Gels
• Powder
• Gummies
• Other Forms

Ingredients Covered
• Aloe Vera
• Amino Acids
• Botanical Ingredients
• Cannabidiol (CBD)
• Carbohydrates
• Carnitine
• Food Color
• Carotenoids
• Spirulina
• Collagen
• Colostrum
• Cultures and Fermentation Starters
• Emulsifiers
• Enzymes
• Essential Oils
• Fat Replacers
• Fats
• Fibres
• Flavours
• Fruit and Vegetable Products
• Glucosamine / Chondroitin
• Isoflavones
• Juices and Concentrates
• Krill
• Lipids / Fatty Acids
• Marine Ingredients
• Minerals
• Omega-3s
• Prebiotics
• Probiotics
• Proteins
• Sweeteners
• Vitamins
• Whey Proteins
• Other Ingredients

Conditions Covered
• Sports, Energy and Weights Management
• Cold flu and Immunity
• Gastrointestinal Health
• Joint Health & Inflammation
• Diabetes
• Skin & Hair
• Other Conditions

Applications Covered
• Allergy & Intolerance
• Animal Nutrition
• Healthy Ageing
• Bone & Joint Health
• Cancer Prevention
• Children's Health
• Cognitive Health
• Diabetes
• Digestive / Gut Health
• Energy & Endurance
• Eye Health
• Heart Health
• Immune System
• Infant Health
• Inflammation
• Maternal Health
• Men's Health
• Oral Care
• Personalised Nutrition
• Post Pregnancy and Reproductive Health
• Sexual Health
• Skin Health
• Sports Nutrition
• Weight Management & Satiety
• Women's Health
• Other Applications

Distribution Channels Covered
• Hypermarket/Supermarket
• Specialty Stores
• Convenience Stores
• Drug Stores
• Online Retail Stores
• Health & Beauty Store
• Brick & Mortar
• Pharmacies
• E-Commerce
• Other Distribution Channels

Regions Covered
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances