According to the exclusive market research report “Nutraceutical Products Market by Type (Food, Beverages, Dietary Supplements), Source (Probiotics, Prebiotics, Vitamins, Minerals), Distribution Channel (Conventional Stores, Specialty Stores, Drugstores & Pharmacies), Region – Global Forecast to 2025″, Published by
MarketsandMarkets™. The nutraceutical products market is projected to reach USD 404.8 billion by 2025 and was estimated at USD 267.4 billion in 2019, recording a CAGR of 7.2% from 2019. Key factors driving the nutraceutical products market include the increasing aging population and focus on preventive healthcare. In addition, increasing mandates pertaining to food fortification by government organizations is projected to reflect positively on the market growth.
- Determining and projecting the size of the market, with respect to type, distribution, source, and regional markets, over a six-year period ranging from 2019 to 2025
- Identifying attractive opportunities in the market by determining the largest and fastest-growing segments across regions
- Providing detailed information about the key factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges)
- Analyzing the micromarkets, with respect to individual growth trends, future prospects, and their contribution to the total market
- Identifying and profiling key market players in the nutraceutical products market
- Understanding the competitive landscape and identifying the major growth strategies adopted by players across the key regions
- Analyzing the value chain, products, and regulatory frameworks across key regions and their impact on the prominent market players
- Providing insights on key product innovations and investments in the nutraceutical product market
Download PDF Brochure:
The beverages segment is projected to grow at the highest CAGR in the nutraceutical products market during the forecast period.
The beverages segment is projected to be the fastest-growing segment due to the increasing consumer inclination towards healthy beverages fortified with several organic and nutraceutical ingredients, which is projected to drive the demand for functional beverage products. In addition, functional beverages serve the purpose of hydration, energy & rejuvenation, health & wellness, and weight management. Due to these factors, manufacturing companies are focusing on introducing new fortified functional beverages.
The specialty stores segment is projected to witness the highest growth in the nutraceutical products market during the forecast period due to the increasing availability of specialty products through this distribution channel.
The specialty stores segment is projected to record the highest CAGR during the forecast period. Specialty stores are retail businesses that focus on specific product categories than on offering different categories of products. However, the type of products provided by these stores does not solely determine their status as specialty stores, but also their diverse portfolios. Specialty stores that sell nutraceutical products mainly include bakery stores, confectionery stores, and gourmet stores. Due to these factors, the specialty stores segment is projected to record the fastest growth during the forecast period.
Speak to Analyst:
North America is projected to account for the largest share in the nutraceutical products market during the forecast period.
The North American market accounted for the largest share in 2019; it is majorly driven by the market in the US, which is a major market for nutraceutical products. Consumers in this region are gradually becoming aware of the health benefits of prebiotics, proteins & amino acids, and omega-3 fatty acids, and their significance in weight management. These factors are projected to drive the demand for nutraceutical products further in the region.
Major vendors in the global nutraceutical products market are Kraft Heinz Company (US), The Hain Celestial Group (US), Conagra (US), General Mills (US), Kellogg’s (US), Nestlé (Switzerland), Nature’s Bounty (US), Amway (US), Hero Group (US), Barilla Group (Italy), Raisio Group (Finland), Pfizer Inc.(US), and Freedom Food Group Limited (Australia).
Key Market Players:
Key vendors in the global market include Kraft Heinz Company (US), The Hain Celestial Group (US), Conagra (US), General Mills (US), Kellogg’s (US), Nestlé (Switzerland), Nature’s Bounty (US), Amway (US), Hero Group (US), Barilla Group (Italy), Raisio Group (Finland), Pfizer Inc.(US), and Freedom Food Group Limited (Australia). These players have broad industry coverage and strong operational and financial strength; they have grown organically and inorganically in the recent past.