What is Nutraceutical Supplements Market?
Nutraceutical is a combination of two words i.e. nutrient (nourishing food component) and pharmaceutical (medical drug). Nutraceuticals are the term used to describe a product which is derived from food sources with additional health benefits. It has been observed that the demand for nutraceutical supplements is increasing due to health benefits associated with it and rising health awareness across the globe. Additionally, increasing disposable income and changing lifestyle is acting as a key driver for the market. However, the cost associated with the production of raw material for nutraceutical supplements, limited production and high cost of the supplements are the factors for limiting the growth of the market. Moreover, the increasing underweight population in Asian and European countries and continuously investment for the development of products by key players can create a big opportunity for the market in the forecasted year.
The market study is being classified and major geographies with country level break-up.
Abbott Laboratories (United States), Glanbia, Plc (Ireland), Herbalife Nutrition (United States), Koninklijke DSM (Netherlands), Pfizer (United States), Amway (United States), DowDuPont (United States), BASF (Germany) and Bayer (Germany) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are The Nature's Bounty Co (United States) and BI Nutraceutical (United States).
The Players having a strong hold in the market are Abbott Laboratories, Glanbia, Plc, Herbalife Nutrition, Koninklijke DSM, Pfizer, Amway. Research Analyst at AMA predicts that United States and European United States and European Players will contribute to the maximum growth of Global Nutraceutical Supplements market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Nutraceutical Supplements market by Type, Application and Region.
On the basis of geography, the market of Nutraceutical Supplements has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Increasing Demand for Nutraceutical Supplements due to Health Benefits Associated with it
- Rising Health Awareness across the globe
- Increasing Disposal Income and Changing Lifestyle
Market Trend
- Rising the Trend for Body Fitness Boosting the Market
Restraints
- Cost Associated with the Production of Raw Material for Nutraceutical Supplements
Opportunities
- Increasing underweight Population in Asian and European Countries
Challenges
- Limited Production and High Cost of the Product
There are various regulation of diet supplements. For instance, according to The Food and Drug Administration (FDA), 1. According to Nutrition Labeling and Education Act made in 1990, every diet supplement product must have bear nutrition labeling and 2. According to Dietary Supplement Health and Education Act in 1994, every diet supplement product must have specific labelling requirements and provide optional labeling statements
Key Target Audience
Nutraceutical Supplements Manufacturers, Raw Material Suppliers, Distributors and Suppliers, Research Organization, Government Association, Investors and Others