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Growing Demand For Functional Food Is Expected To Be A Key Driving Factor For The Nutraceuticals Market

Nutraceuticals Industry Overview

The global nutraceuticals market size is expected to reach USD 991.09 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 9.0% from 2021 to 2030. Rising awareness regarding calorie reduction and weight loss in the major markets including the U.S., China, and India is expected to promote the application of the health and wellness segment and thus, in turn, will have a substantial impact on the industry.

Global nutraceuticals market share, by product, 2021 (%)

Nutraceuticals Market Segmentation

Grand View Research has segmented the global nutraceuticals market on the basis of product and region:

Based on the Product Insights, the market is segmented into Dietary Supplements, Functional Food and Functional Beverages.

  • The functional food segment led the overall market in 2021 with a revenue share of over 40.0%, followed by dietary supplements and functional beverages.
  • Technological upgradation, coupled with progression in product development, is projected to drive the dietary supplements industry over the coming years.
  • Sports drinks are gaining popularity among athletes and other individuals involved in energetic physical activities. The millennial generation exponentially drives the sports drinks market due to its high buying capacity, willingness to pay for health products, acute interest in sports, and growing inclination toward fitness activities.
  • In the functional food segment, the prebiotics and probiotics segment is anticipated to register the highest growth rate of 11.4% from 2021 to 2030. This can be attributed to the rising demand for diet food and shifting preference toward weight management solutions.
  • The prebiotics and probiotics segment is anticipated to grow owing to its promising role in supporting the immune system and acting as major preventive health supplements during the COVID-19 pandemic.

Nutraceuticals Regional Outlook

  • North America
  • Europe
  • Asia Pacific
  • Central & South America
  • Middle East & Africa (MEA)

Key Companies Profile & Market Share Insights

The competitive landscape is characterized by the presence of key international players. Companies have implemented mergers & acquisitions and new product launches as key strategies to compete in the market. Acquisitions and mergers facilitated the companies to expand their product reach and improve product quality.

Some prominent players in the Nutraceuticals market include

  • Cargill, Incorporated
  • Archer Daniels Midland Company
  • DuPont
  • Nestle S.A.
  • Danone
  • Royal DSM N.V.
  • General Mills
  • Innophos
  • WR Grace
  • Amway Corporation
  • AOR Canada
  • Arkopharma Laboratories S.A.
  • Bactolac Pharmaceuticals, Inc.
  • I.D Parry Ltd.
  • Valensa International
  • Matsun Nutrition
  • Mead Johnson Nutrition Company
  • Natrol Inc.
  • The Hain Celestial Group, Inc.
  • Herbalife Ltd.

Order a free sample PDF of the Nutraceuticals Market Intelligence Study, published by Grand View Research.

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