According to nova one advisor, the global nutraceuticals market size was valued at US$ 454.59 billion in 2021 and is expected to hit US$ 991.10 billion by 2030, at a CAGR of 7.4% during the estimate period 2022 to 2030.
Growth Factors:
The growing demand for dietary supplements and functional food is expected to be a key driving factor for the market over the forecast period. A favorable outlook towards medical nutrition in light of the increasing application for the treatment of cardiovascular disorder and malnutrition is likely to stimulate the growth of dietary supplements.
Rising healthcare costs, coupled with the increasing geriatric population across the world, are anticipated to assist the global functional food industry growth over the forecast period. Consumers’ attitude is observed to be very positive towards functional foods mainly on account of the added health and wellness benefits offered by these products. The rising geriatric population, increasing healthcare costs, changing lifestyle, food innovation, and expectations regarding the higher prices have aided the overall growth.
The U.S. has witnessed an increasing demand for dietary supplements over the past few years owing to the growing importance of preventive health care among consumers. Consumers have been preferring multivitamins that provide the essential nutrients to the human body. Multivitamins are becoming an integral part of the lifestyle among consumers in the U.S., and this trend has surged during the COVID-19 pandemic in the U.S.
Report Scope of the Nutraceuticals Market
Report Highlights |
Details |
Market Size |
US$ 991.10 Billion by 2030 |
Growth Rate |
CAGR of 7.4% From 2022 to 2030 |
Base Year |
2020 |
Historic Data |
2017 to 2020 |
Forecast Period |
2022 to 2030 |
Segments Covered |
Type, Form |
Regional Scope |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA) |
Companies Mentioned |
Archer Daniels Midland Company, General Mills, Inc., I. du Pont de Nemours and Company, Aland (Jiangsu) Nutraceutical Co., Ltd., BASF SE, Cargill, Incorporated, Royal DSM N.V., Groupe Danone S.A., Nestle S.A., PepsiCo Inc. |
Dietary fibers and minerals are likely to grow owing to the high awareness regarding their benefits in overall health and bodily maintenance. Fibers tend to foster easier bowel movements while providing critical cleansing of internal organs, while minerals contribute to higher retention and passage of nutrients into cells and promote blood clotting among other functions. Furthermore, high adoption rates of herbal medicines among individuals across the globe on account of the rising concerns over hazardous effects associated with conventional pharma drugs are expected to expand the market size over the forecast period.
In the wake of the COVID-19 pandemic, the demand for dietary supplements and functional foods has soared. Immunity boosting supplements have become mainstream over the past year and this has led to a significant change in buying patterns and consumer behavior. Moreover, after the COVID-19 pandemic, preventive healthcare measures such as dietary supplements will become a part of people’s everyday lives. Thus, the COVID-19 pandemic across the globe has paved the way for nutraceuticals to build a strong presence in the global market.
Significant Market Trends:
Dietary Supplements Segment Reported Foremost Market Stake in 2020
The dietary supplements segment displayed a major share in the worldwide nutraceuticals market in 2020. Dietary supplements such as vitamins, minerals, and protein are the most frequently used nutraceuticals worldwide. Their acceptance has augmented rapidly in the earlier few years. Many studies have suggested that dietary supplements can enhance health, reimburse for unhealthy eating ways, and also lessen risk of developing chronic ailments. Moreover, factors such as easy availability and low cost augment the demand for dietary supplements.
The functional food segment accounted revenue share of around 40% in 2021. Functional beverages are expected to grow at highest CAGR within the forecast time-duration. In the functional food segment, the prebiotics and probiotics segment is expected to hit highest CAGR of 11.5% from 2021 to 2030.
Tablets & Soft Gels Dominated the Market Revenue by Form in 2020
Nutraceuticals can be obtained over-the-counter and are also sold through e-commerce sites. Nutraceuticals are predominantly consumed in the form of tablets and soft gels due to ease of storage and consumption. Moreover, higher shelf life and easy packaging also contributes to the high popularity of nutraceuticals tablets and soft gels.
North America is Estimated to be the Largest Market for Nutraceuticals
The comprehensive research account covers substantial projections and inclinations of nutraceuticals throughout chief regions encompassing Africa, Asia Pacific, Europe, Latin America, North America, Middle East, and. By region, nutraceuticals market is led by North America due to presence of major manufacturers, high disposable income, and increasing focus on physical appearance. Europe reported succeeding highest share predominantly owing to greater elderly population and growing occurrence of chronic ailments. Asia Pacific is projected to advance at the highest compounded annual growth rate majorly owing to increasing popularity of e-commerce websites, growing awareness about importance of well-being and health, and the rising middle-class populace. Middle East, Latin America, and African region is expected to exhibit note-worthy growth in the projected time-frame..
Some of the prominent players in the Nutraceuticals Market include:
Segments Covered in the Report
This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for the period of 2017 to 2030 and covers subsequent region in its scope:
By Type
By Form
By Sales Channel
By Geography
North America
Europe
Asia Pacific
Latin America
Middle East & Africa (MEA)
Key Points Covered in Nutraceuticals Market Study:
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions& Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Nutraceuticals Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
Chapter 5. COVID 19 Impact on Nutraceuticals Market
5.1. Covid-19: Nutraceuticals Industry Impact
5.2. Nutraceuticals Business Impact Assessment: Covid-19
5.2.1. Services Challenges/Disruption
5.2.2. Market Trends and Nutraceuticals Opportunities in the COVID-19 Landscape for Major Markets
5.3. Strategic Measures against Covid-19
5.3.1. Government Support and Initiative to Combat Covid-19
5.3.2. Proposal for Nutraceuticals Market Players to deal with Covid-19 Pandemic Scenario
Chapter 6. Nutraceuticals Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.1.1. Increased adoption of fortified food owing to the growing health consciousness amongst consumers
6.1.1.2. Increasing incidences of chronic diseases
6.1.1.3. Strict government regulations on food fortification
6.1.2. Market Restraints
6.1.2.1. High cost associated with the fortified products
6.1.3. Market Opportunities
6.1.3.1. Technological advancements
Chapter 7. Global Nutraceuticals Market: Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.1.1. NutraceuticalsMarket Revenue by Market Players (2017 - 2020)
7.1.1.2. Nutraceuticals Market Revenue Market Share by Market Players (2017 - 2020)
7.1.2. Key Organic/Inorganic Strategies Adopted by Players
7.1.2.1. Product Portfolio Expansion, Geographic Expansion, Process Innovation
7.1.2.2. Merger and Acquisition, Collaboration and Partnerships
7.1.3. Market Players Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of End-users
Chapter 8. Global Nutraceuticals Market, By Type
8.1. Nutraceuticals Market, by Type, 2017-2030
8.1.1. Dietary Supplements
8.1.1.1. Market Revenue and Forecast (2017-2030)
8.1.1.2. Proteins & Peptides
8.1.1.3. Market Revenue and Forecast (2017-2030)
8.1.1.4. Vitamins & Minerals
8.1.1.5. Market Revenue and Forecast (2017-2030)
8.1.1.6. Herbals (Ayurveda Extracts, Plant Extracts, Algal Extracts, Phytochemicals)
8.1.1.7. Market Revenue and Forecast (2017-2030)
8.1.1.8. Others (Fatty Acids and Fiber).
8.1.1.9. Market Revenue and Forecast (2017-2030)
8.1.2. Functional Beverages
8.1.2.1. Market Revenue and Forecast (2017-2030)
8.1.2.2. Fruit & Vegetable Juices and Drinks
8.1.2.3. Market Revenue and Forecast (2017-2030)
8.1.2.4. Dairy & Dairy Alternative Drinks
8.1.2.5. Market Revenue and Forecast (2017-2030)
8.1.2.6. Noncarbonated Drinks (Bottled Water, Tea, and Coffee)
8.1.2.7. Market Revenue and Forecast (2017-2030)
8.1.2.8. Other (Herbal Tea, Sports Drinks, and Energy Drinks)
8.1.2.9. Market Revenue and Forecast (2017-2030)
8.1.3. Functional Food
8.1.3.1. Market Revenue and Forecast (2017-2030)
8.1.3.2. Probiotics Fortified Food
8.1.3.3. Market Revenue and Forecast (2017-2030)
8.1.3.4. Omega Fatty Acid Fortified Food
8.1.3.5. Market Revenue and Forecast (2017-2030)
8.1.3.6. Branded Ionized Salt
8.1.3.7. Market Revenue and Forecast (2017-2030)
8.1.3.8. Branded Wheat Flour Market
8.1.3.9. Market Revenue and Forecast (2017-2030)
8.1.3.10. Other Functional Food
8.1.3.11. Market Revenue and Forecast (2017-2030)
8.1.4. Personal Care
8.1.4.1. Market Revenue and Forecast (2017-2030)
Chapter 9. Global Nutraceuticals Market, By Form
9.1. Nutraceuticals Market, by Form, 2017-2030
9.1.1. Capsules
9.1.1.1. Market Revenue and Forecast (2017-2030)
9.1.2. Liquid & Gummies
9.1.2.1. Market Revenue and Forecast (2017-2030)
9.1.3. Tablets &Softgels
9.1.3.1. Market Revenue and Forecast (2017-2030)
9.1.4. Powder
9.1.4.1. Market Revenue and Forecast (2017-2030)
9.1.5. Others
9.1.5.1. Market Revenue and Forecast (2017-2030)
Chapter 10. Global Nutraceuticals Market, Regional Estimates and Trend Forecast
10.1. North America
10.1.1. Market Revenue Forecast by Type(2017-2030)
10.1.2. Market Revenue Forecast by Form (2017-2030)
10.1.3. U.S
10.1.3.1. Market Revenue Forecast (2017-2030)
10.1.4. Canada
10.1.4.1. Market Revenue Forecast (2017-2030)
10.2. Europe
10.2.1. Market Revenue Forecast by Type (2017-2030)
10.2.2. Market Revenue Forecast by Form (2017-2030)
10.2.3. UK
10.2.3.1. Market Revenue Forecast (2017-2030)
10.2.4. Germany
10.2.4.1. Market Revenue Forecast (2017-2030)
10.2.5. France
10.2.5.1. Market Revenue Forecast (2017-2030)
10.2.6. Rest of EU
10.2.6.1. Market Revenue Forecast (2017-2030)
10.3. Asia Pacific (APAC)
10.3.1. Market Revenue Forecast by Type (2017-2030)
10.3.2. Market Revenue Forecast by Form (2017-2030)
10.3.3. China
10.3.3.1. Market Revenue Forecast (2017-2030)
10.3.4. India
10.3.4.1. Market Revenue Forecast (2017-2030)
10.3.5. Japan
10.3.5.1. Market Revenue Forecast (2017-2030)
10.3.6. Rest of APAC
10.3.6.1. Market Revenue Forecast (2017-2030)
10.4. LATAM
10.4.1. Market Revenue Forecast by Type (2017-2030)
10.4.2. Market Revenue Forecast by Form (2017-2030)
10.4.3. Brazil
10.4.3.1. Market Revenue Forecast (2017-2030)
10.4.4. Rest of LATAM
10.4.4.1. Market Revenue Forecast (2017-2030)
10.5. Middle East and Africa (MEA)
10.5.1. Market Revenue Forecast by Type (2017-2030)
10.5.2. Market Revenue Forecast by Form (2017-2030)
10.5.3. GCC
10.5.3.1. Market Revenue Forecast (2017-2030)
10.5.4. North Africa
10.5.4.1. Market Revenue Forecast (2017-2030)
10.5.5. South Africa
10.5.5.1. Market Revenue Forecast (2017-2030)
10.5.6. Rest of MEA
10.5.6.1. Market Revenue Forecast (2017-2030)
Chapter 11. Company Profiles
11.1. Archer Daniels Midland Company
11.1.1. Company Overview, Business Information, Regional Presence
11.1.2. Product Portfolio Analysis
11.1.2.1. Product Details, Specification, Product Type
11.1.3. Revenue, Price, and Gross Margin (2017-2020)
11.1.4. Recent Developments and Strategies
11.2. General Mills, Inc.
11.2.1. Company Overview, Business Information, Regional Presence
11.2.2. Product Portfolio Analysis
11.2.2.1. Product Details, Specification, Product Type
11.2.3. Revenue, Price, and Gross Margin (2017-2020)
11.2.4. Recent Developments and Strategies
11.3. E. I. du Pont de Nemours and Company
11.3.1. Company Overview, Business Information, Regional Presence
11.3.2. Product Portfolio Analysis
11.3.2.1. Product Details, Specification, Product Type
11.3.3. Revenue, Price, and Gross Margin (2017-2020)
11.3.4. Recent Developments and Strategies
11.4. Aland (Jiangsu) Nutraceutical Co., Ltd.
11.4.1. Company Overview, Business Information, Regional Presence
11.4.2. Product Portfolio Analysis
11.4.2.1. Product Details, Specification, Product Type
11.4.3. Revenue, Price, and Gross Margin (2017-2020)
11.4.4. Recent Developments and Strategies
11.5. BASF SE
11.5.1. Company Overview, Business Information, Regional Presence
11.5.2. Product Portfolio Analysis
11.5.2.1. Product Details, Specification, Product Type
11.5.3. Revenue, Price, and Gross Margin (2017-2020)
11.5.4. Recent Developments and Strategies
11.6. Cargill, Incorporated
11.6.1. Company Overview, Business Information, Regional Presence
11.6.2. Product Portfolio Analysis
11.6.2.1. Product Details, Specification, Product Type
11.6.3. Revenue, Price, and Gross Margin (2017-2020)
11.6.4. Recent Developments and Strategies
11.7. Royal DSM N.V.
11.7.1. Company Overview, Business Information, Regional Presence
11.7.2. Product Portfolio Analysis
11.7.2.1. Product Details, Specification, Product Type
11.7.3. Revenue, Price, and Gross Margin (2017-2020)
11.7.4. Recent Developments and Strategies
11.8. Groupe Danone S.A.
11.8.1. Company Overview, Business Information, Regional Presence
11.8.2. Product Portfolio Analysis
11.8.2.1. Product Details, Specification, Product Type
11.8.3. Revenue, Price, and Gross Margin (2017-2020)
11.8.4. Recent Developments and Strategies
11.9. Nestle S.A.
11.9.1. Company Overview, Business Information, Regional Presence
11.9.2. Product Portfolio Analysis
11.9.2.1. Product Details, Specification, Product Type
11.9.3. Revenue, Price, and Gross Margin (2017-2020)
11.9.4. Recent Developments and Strategies
11.10. PepsiCo Inc.
11.10.1. Company Overview, Business Information, Regional Presence
11.10.2. Product Portfolio Analysis
11.10.2.1. Product Details, Specification, Product Type
11.10.3. Revenue, Price, and Gross Margin (2017-2020)
11.10.4. Recent Developments and Strategies
Chapter 12. Appendix
12.1. About Us
12.2. Glossary of Terms