Dublin, October 06, 2021 (GLOBE NEWSWIRE) – Added the Nutraceuticals – Global Market Trajectory & Analytics report to ResearchAndMarkets.com to offer.
The global market for dietary supplements is expected to reach a volume of 441.7 billion US dollars by 2026
In the midst of the COVID-19 crisis, the world market for nutraceuticals, which is estimated at $ 278.8 billion in 2020, is expected to reach a revised size of $ 441.7 billion by 2026 and with a CAGR of 7.8% grow.
Functional Foods, one of the segments analyzed in the report, is expected to grow by 7.8% CAGR and reach $ 217.2 billion by the end of the analysis period.
After a thorough analysis of the business impact of the pandemic and its triggered economic crisis, growth in the Functional Beverages segment will be adjusted to a revised CAGR of 8.6% for the next 7-year period. This segment currently accounts for 35.2% of the global nutraceutical market.
The U.S. market is valued at $ 104.5 billion in 2021, while China is projected to reach $ 52.5 billion by 2026
The nutraceuticals market in the United States is estimated at $ 104.5 billion in 2021. The country currently has a 34.57% share of the world market. China, the second largest economy in the world, is expected to reach an estimated market size of 52.5 billion US dollars in 2026, which corresponds to a CAGR of 9.6% over the analysis period.
Other notable geographic markets include Japan and Canada, which are projected to grow 6.3% and 6.7% respectively over the analysis period. Within Europe, growth of around 7.1% CAGR is forecast for Germany, while the rest of the European market (as defined in the study) will reach 56.6 billion US dollars by the end of the analysis period.
Nutraceuticals have drawn immense attention in recent years due to various trends including changing lifestyles, an emerging middle class segment in emerging countries, changing eating habits, an aging population and increased life expectancy.
In addition, the concentration of the R&D-based pharmaceutical sector on expensive specialty drugs increases the burden on the health system and leads to higher costs for drugs that focus on prevention rather than intervention. The self-care trend around the world is driving strong demand for nutraceuticals, including superfoods, foods and supplements, sports nutrition, and functional foods and beverages.
Given the hectic lifestyle and the lack of time to get the nutrients you need through a regular diet, the need to replenish such essential nutrients is increasing. In this context, nutraceuticals are emerging as a solution to meet this requirement. Nutraceuticals are considered to be the crucial link between health and nutrition.
The market is also seeing strong demand for personalized wellness approaches that drive product innovation in weight management, sports nutrition and healthy snacks.
Other notable trends that will benefit the market prospect in the near future are the emergence of clean labeling as the new norm due to the increasing focus of consumers on the product’s ingredient list; innovative dispensing technologies such as microencapsulation that protect the product from adverse conditions such as light and air; steady diffusion of advanced technologies for nutritional supplements in their nanoparticle and nanodispersion versions; and the growing role of pharmaceutical companies, with leading companies retaining stakes in functional food and beverage brands and nutritional supplements that serve their healthcare and consumer interests.
The dietary supplement segment is expected to reach $ 74.8 billion by 2026
Dietary supplements are consumed for many reasons, including to improve diet, to fill the deficit of nutrients that are lacking in the normal diet, to improve disease resistance, and to increase energy and performance levels. In general, nutritional supplements are used to maintain good health and general wellbeing. The market is mainly driven by scientific evidence showing that dietary supplements are high in certain nutrients and have a lower risk of certain diseases.
Consumers find food supplements as an alternative to conventional medical therapies. In the global nutritional supplements segment, the United States, Canada, Japan, China, and Europe will drive the CAGR estimated for that segment of 5.9%. These regional markets, with a combined market size of $ 41.4 billion in 2020, are projected to reach a projected size of $ 62 billion by the end of the analysis period. China will be one of the fastest growing in this cluster of regional markets.
Led by countries like Australia, India and South Korea, the Asia-Pacific market is expected to reach $ 7 billion by 2026, while Latin America is expected to grow at an annual growth rate of 6.8% over the analysis period.
MARKET TRENDS & DRIVERS
- Notable trends changing the global nutraceutical market
- Growing focus on healthy lifestyles amid ongoing pandemic drives focus on functional foods
- The main health benefits of functional foods
- Natural properties of functional foods increase their popularity over dietary supplements
- Growing focus on health and fitness is driving demand for functional sports energy drinks
- The growing importance of consumers in combating various diet-related health problems is driving demand for nutritional supplements
- Innovation is blurring the line between supplements and foods
- Supplementing vitamin and mineral deficiencies to fuel market demand
- Market advantage through increased awareness of the benefits of nutritional supplements to improve health and wellbeing
- Dietary supplements for athletes are growing immensely in popularity
- The impact of social media on fitness and healthy lifestyles is driving consumers to supplement
- Personalization and e-commerce trend are gaining prominence in the vitamins and nutritional supplements market
- The emergence of nutritional psychiatry. Signal possibilities for mineral supplements
- The ineffectiveness of antibiotics shifts consumer attention to dietary supplements
- Minerals continue to gain importance in the nutraceutical market
- Increasing intake of dietary supplements based on amino acids
- Notable trends in dietary supplements
- Probiotics: A Step in the Right Direction to Better Nutraceuticals
- Dairy Products: The Most Popular Probiotic Delivery Vehicle
- Probiotic supplements for high profits
- Prebiotics: An important ingredient in promoting gut health, brain health, and immunity
- Growing role of prebiotic ingredients in functional foods
- Manufacturers of prebiotic ingredients see great opportunities in the post-COVID-19 world
- Personalization and Semi-Personalization of Diet and Nutritional Supplements: The Next Big Thing in Nutraceuticals
- Increasing cognitive, mobility and cardiovascular or gastrointestinal health needs of an aging population: a major growth driver
- Omega-3 nutritional supplements are essential for maintaining cognitive function in the elderly
- Rising prevalence of chronic and lifestyle diseases increases consumer spending on nutraceuticals
- Role of Nutraceuticals in Cholesterol Control
- Rising diabetes prevalence is driving demand for nutraceuticals
- Popular functional foods with bioactive compounds for diabetics
- Rising cancer incidence: focus on functional foods
- Rising healthcare costs and the resulting need for preventive drugs are contributing to market growth
- Omega-3 and other marine bioactive molecules are driving the demand for marine nutraceuticals
- Important Marine Bioactive Molecules: Brief Details of Sources, Uses, and Health Benefits
- The health benefits of omega-3 fatty acids are driving the demand for nutritional supplements and functional foods
- Omega-3 Rich Fish Oil Pills: The Most Effective Functional Food for Heart Health
- The growing importance of functional foods and dietary supplements in weight management promises good market opportunities
- Essential Nutraceuticals For Weight Management
- Medicinal mushrooms are gaining a foothold in nutraceutical applications
- Nanoencapsulation improves the delivery and bioavailability of nutraceuticals
- Growing role of nutraceutical spices
- Nutraceuticals conquer the beauty products market
- Women focus on expanding the market for the benefits of healthy living
- Women emerge as the main consumers of dietary supplements
- Millennials’ focus on health, fitness, nutrition and convenience leads to robust demand for nutraceuticals
- Consumers are realizing the benefits of nutricosmetics
- Digital eye strain and other vision-related concerns underscore the importance of nutraceuticals to eye health
- Rise of the skin care nutraceuticals
- Nutraceutical innovations and advances drive market growth
- Hyperfunctional drinks
- Evidence-based nutraceuticals
- Artificial intelligence is influencing the nutraceutical market
- Nutraceuticals are expected to develop as a science-driven industry
- Manufacturers are innovating delivery formats to attract new consumers
- Digital marketing opens up new growth paths for market participants
- E-commerce is developing into an important sales channel for nutraceuticals
- Macro factors and demographic trends offer growth opportunities
- Ballooning the world population
- Urbanization trend
- Burgeoning middle class population
- Problems with the Nutraceuticals Market
- Product safety issues
- Inconsistent regulatory environment
- Lack of awareness of the health effects of diet
- Higher product costs
FOCUS ON SELECTED PLAYERS (283 recommended)
- Abbott Diet
- Amway Corporation
- ARKOPHARMA laboratories
- BASF SE
- Bayer Healthcare AG
- CytoSport, Inc.
- Danone SA
- Glanbia Nutritionals Limited
- Glanbia Plc
- GlaxoSmithKline Plc
- Herbalife International, Inc.
- Kirkman Group, Inc.
- Mead Johnson Nutrition Company
- Meiji Holdings Co., Ltd.
- Natrol, LLC
- Natural Products, Inc.
- Nestlé SA
- Nutraceutical company
- Otsuka Pharmaceutical Co., Ltd.
- PepsiCo Inc.
- Pharmavite LLC
- Red Bull GmbH
- Rockstar Inc.
- Seven Seas Ltd.
- Suntory Holdings Limited
- The Coca-Cola Co.
- The Nature’s Bounty Co.
- Yakult Honsha Co., Ltd.
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