Nutraceuticals Product Market By Type ( Functional Food (Probiotics Fortified, Omega Fatty Acid Fortified, Branded Ionized Salt, Others), Functional Beverages (Fruit & Vegetable Juices and Drinks, Noncarbonated, Dairy & Dairy Alternative), Dietary Supplements (Proteins & Peptides, Vitamins & Minerals, Vitamins & Minerals, Herbals), Personal Care and pharmaceuticals, Others ), Industry Trends, Estimation & Forecast, 2016 - 2024

September 2017

 Pages: 125

 ERC 6525

Nutraceuticals Product Market was valued at $196.88 billion in 2016 and is projected to reach $349.04 billion by 2024, having a CAGR of 7.5 % during the forecast period of 2017 to 2024.The functional food segment generated the highest revenue share in the global nutraceuticals products market.

The term nutraceutical has been derived from two terms, nutrition and pharmaceutical. It is more of a commercial term which is used for any food products, or part of food supplements that provides a medical or health benefit rather than just basic nutrition. Such functional food products contain various minerals, vitamins, dietary fibers, hydrolyzed proteins, prebiotics and probiotics which are very helpful in the provision of nutrition to a human body. Nutraceutical products are available in the form of sports drinks, dairy products, snacks and pre-packaged diet meals. Nutraceuticals are very resourceful and versatile in nature as they are used in numerous industries such as pharmaceutical food & beverages, animal feed additives, and personal care.

Market Determinants

Constantly growing non-communicable chronic diseases, healthcare expenditure and surging demand for nutritional diet among both developed and developing countries are some major factors boosting the market growth. Consumers are getting highly health conscious, aware, and better informed regarding nutrition-enabled products in the current scenario. Nutraceuticals products are not only consumed in order to meet the recommended daily intake of nutrients, but also as a stimulator for physical performance and disease prevention component. About 71% of U.S. adults, or more than 170 million Americans, reported taking dietary supplements. On the other hand, constantly increasing prices of nutraceutical products might hinder the market growth. Moreover, misuse, over dosage and lack of awareness regarding these supplements might also act as restraining agents for the market growth. However, continuously growing technological advancements in the field of pharmaceuticals and food safety technology might bring forward huge growth platforms for the growth of nutraceuticals product market globally, especially in the Asia Pacific. Additionally, a swing in the preference of consumers from synthetic ingredients to organic and natural food ingredients is creating future growth opportunities for the nutraceuticals product market growth in the near future.

NUTRACEUTICALS PRODUCT MARKET DETERMINANTS-IMPACT ANALYSIS- 2016 vs. 2024



Market Segmentation

The global nutraceuticals product market is segmented on the basis of type and geography. On the basis of type, the market is bifurcated as functional food, functional beverages, and dietary supplements. Geographically, the market is categorized as North America, Europe, Asia-Pacific and Rest of World. On the basis of type, functional food segment held the largest revenue share of nearly 1/3rd of the total market share. Geographically, North America held the largest market size of the nutraceuticals product market and is expected to grow at the CAGR of 7.1% during the forecast period. This is because, in North America, consumers are highly conscious of their health and food habits. Moreover, the advancing per capita income, which helps in physical fitness and mental well-being, is fueling the growth of this market in the region.

NUTRACEUTICALS PRODUCT MARKET SIZE ($MILLION), BY TYPE, 2016 – 2024

 


Some major market players of the market are, Cargill, Incorporated, Archer Daniels Midland Company, Royal DSM N.V., BASF S.A., Nestle S.A., Danone (Danone S.A), I. du Pont de Nemours and Company, PepsiCo Inc., Dean Foods and General Mills, Inc.

NUTRACEUTICALS PRODUCT MARKET SEGMENTATION

By Type
   • Functional Food
            o Probiotics Fortified Food
            o Omega Fatty Acid Fortified Food
            o Branded Ionized Salt
            o Branded Wheat Flour Market
            o Other Functional Food

   • Functional Beverages
            o Fruit & Vegetable Juices and Drinks
            o Dairy & Dairy Alternative Drinks
            o Noncarbonated Drinks
            o Other

   • Dietary Supplements
            o Proteins & Peptides
            o Vitamins & Minerals
            o Herbals
            o Other
   • Personal Care and pharmaceuticals

By Geography
   • North America
            o U.S.
            o Mexico
            o Rest of North America
   • Europe
            o UK
            o France
            o Germany
            o Rest of Europe
   • Asia-Pacific
            o India
            o China
            o Japan
            o Rest of Asia-Pacific
   • Rest of World
            o Latin America
            o Middle East
            o Africa

NUTRACEUTICALS PRODUCT MARKET KEY PLAYERS

   • Cargill, Incorporated
   • Archer Daniels Midland Company
   • Royal DSM N.V.
   • BASF S.A.
   • Nestle S.A.
   • Danone (Danone S.A)
   • du Pont de Nemours and Company
   • PepsiCo Inc.
   • Dean Foods
   • General Mills, Inc.

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