Market Snapshot:
Nutraceuticals are products derived from food sources with additional health benefits beyond their basic nutritional value. Increasing consumer awareness and interest in preventive healthcare, rising healthcare costs, and the desire for natural and holistic approaches to wellness. These products are often sold in medicinal forms, such as pills, powders, or liquids, and are marketed as having various health-promoting or medicinal properties. Nutraceuticals can include vitamins, minerals, herbs, botanicals, antioxidants, amino acids, and other natural or synthetic substances. They are typically used to improve overall health, prevent or treat specific medical conditions, enhance athletic performance, or support specific bodily functions. The nutraceutical industry presents significant opportunities for growth and innovation, driven by evolving consumer preferences and healthcare trends
Highlights from Nutraceuticals- Market Study
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Billion) |
CAGR | 8.5% |
The key Vendors profiled in the report are General Mills Inc. (United States), Amway Corp. (United States), Herbalife Ltd. (United States), DSM (Netherlands), Pepsi Co. (United States), Yakult Honsha Co., Ltd. (Japan), Groupe Danone (France), Bayer AG (Germany), BASF SE (Germany) and Abbott Laboratories (United States). Additionally, other players that are part of this comprehensive study are Chobani, LLC (United States), Nature's Bounty (United States), Pfizer Inc. (United States), Nestle (Switzerland) and The Hain Celestial Group, Inc. (United States).
Geographic Breakdown and Segment Analysis
The Global Nutraceuticals- market presents a comprehensive analysis of the Nutraceuticals- market by product type (Functional Foods, Functional Beverages, Pharmaceutical, Dietary Supplements, Personal Care and Others), by end-user/application (Allergy & intolerance, Bone & joint health, Cancer prevention, Diabetes, Digestive and Gut Health, Energy & endurance, Sports Nutrition and Other), and by geography (North America, South America, Europe, Asia-Pacific and MEA) along with country level break-up. This section of our report presents a realistic picture of the Global Nutraceuticals- industry. Investors and Vendors can easily understand the inherent opportunities and challenges for their products in geographical region of interest.
For instance, while the holds majority of market share of the Nutraceuticals- market
Analyst at AMA have segmented the market study of Global Nutraceuticals- market by Type, Application and Region.
Influencing Trend:
The increasing preference for healthy food products
Market Growth Drivers:
Growing awareness among consumers about the importance of nutrition and preventive healthcare and Increasing Demand for Organic and Gluten-Free Products
Challenges:
Sourcing high-quality and sustainable ingredients for nutraceutical products can be challenging
Restraints:
Ensuring consumer safety relies heavily on maintaining consistent quality and purity standards
Opportunities:
Regulatory initiatives promoting health and wellness, along with the establishment of quality standards and certification programs
Market Developments Activities:
In January 2024, Tata 1mg partnered with Vitonnix, a UK-based healthcare product research and development company, to introduce a new range of nutraceutical products. This partnership focuses on delivering innovative health solutions that are effective and convenient for the Indian market. and In July 2023, Marico acquired a 58% stake in Satiya Nutraceuticals Pvt. Ltd. and its wholly-owned brand Plix. Marico plans to widen its scope in the wellness and nutrition sectors, with a focus on expanding the offline presence of Plix in the upcoming years.
In April 2023, Haleon India unveiled a new line of specialized nutrition products 'Benefit Blends' in its supplement brand Centrum catering to both adults and children. This move underscores Haleon's commitment to providing comprehensive health solutions tailored to the diverse needs of Indian consumers. and In September 2022, Abbott introduced a new variant of Ensure fortified with HMB, aimed at safeguarding and fortifying the muscles of adults in India.
Regulatory Insights:
The Food and Drug Administration (FDA) regulates nutraceuticals under a different set of regulations. The FDA is empowered to intervene against any unsafe product once it enters the market. Manufacturers must ensure that the information on product labels is accurate and not deceptive; however, they are not required to register their products with the FDA or obtain FDA approval before manufacturing or selling nutraceuticals., In the European Union (EU), food legislation falls primarily under the jurisdiction of the European Food Safety Authority (EFSA). This legislation centers on "food supplements," which are characterized as concentrated sources of nutrients such as proteins, minerals, and vitamins, along with other substances that provide beneficial nutritional effects and According to the Dietary Supplement Health and Education Act of 1994 (DSHEA), it is the manufacturer's responsibility to ensure the safety of a nutraceutical before marketing.
Major pharmaceutical companies often have dedicated divisions or subsidiaries focused on nutraceuticals, leveraging their resources and expertise in research, development, and marketing. There are numerous smaller companies specializing in niche segments of the nutraceutical market, such as herbal supplements, sports nutrition, or functional foods. Competition within the industry is intense, with companies vying to differentiate their products through innovation, quality, branding, and pricing strategies. Key factors influencing competitiveness include product efficacy, safety, regulatory compliance, manufacturing capabilities, distribution networks, and marketing efforts. Furthermore, partnerships, collaborations, and acquisitions are common strategies used by companies to enhance their market position, expand their product portfolios, and gain access to new markets.
Key Target Audience
Manufacturers, Sellers and Suppliers, Government Agencies, Regulatory Bodies, Potential Investors, Research and Development Institutes, End User Industry and Others