Nutraceuticals Market size is estimated to reach $4,651 million by 2026, growing at a CAGR of 7.1% over 2021-2026. Nutraceuticals is a substance that may be considered food or amino acid part of a food that offers medical or health benefits, encompassing prevention and treatment of disease. Nutraceuticals may range from isolated nutrients, herbal products, dietary supplements, functional food, probiotics, and processed food ingredients. Apart from this, changes in lifestyle and dietary patterns, along with increased industrialization, rising pollution and work pressure, have led to increased susceptibility to a plethora of disorders such as hypertension, obesity, diabetes, inflammatory and autoimmune conditions, and cancers.
Competitive Landscape:
The top 5 players in the Nutraceuticals industry are –
1. Archer Daniels Midland Company
2. BASF SE
3. Cargill
4. Royal DSM N.V
5. Nestle S.A
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Segmental Analysis:
1. The Nutraceuticals Market based on product type can be further segmented into Functional Foods, Functional Beverages and Dietary Supplements.
2. The Nutraceuticals Market based on source can be further segmented into Animal, Plant and Microbial. The plant segment registers for the highest nutraceuticals market share in 2020.
3. Europe dominated the Nutraceuticals Market with major share of 42.6% in 2020. This is owing to increasing aging populations in the countries like U.K., France, Spain, Italy, etc. Apart from this, Europe is anticipated to hold the lead in nutraceuticals trade during the forecast timeframe owing to the notable contribution of established players functioning in the region.
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Report Coverage |
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Report Attributes |
Details |
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By Product Type |
Functional Foods, Functional Beverages and Dietary Supplements. |
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By Source |
Animal, Plant and Microbial |
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By Form |
Tablets and Capsules, Powder, Liquid, Solids/Semi-solids |
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By Geography |
North America, Europe, Asia-Pacific and Rest of World |
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Market Drivers and Challenges:
1. Increase Global Awareness Regarding Application of Nutraceuticals: The Nutraceuticals market driver can be attributed to the fact that awareness about the application of nutraceuticals is increasing at a very gradual pace.
2. Growing Expenses and Strict Regulations: The major challenge in the Nutraceuticals market is that the stringent rules and regulations imposed by governments of various countries are anticipated to hamper the market rise during the forecast period. Also, the high expenses associated with nutraceuticals are projected to restrain the market rise during the tenure.
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