Global Nutraceutical Market
Global Nutraceutical Market- By Product Type (Functional Food [Cereal, Bakery and Confectionary, Dairy & Snack]),Functional Beverage [Energy Drink, Sports Drink, Fortified Juice, and Dairy & Dairy alternative Beverage];Dietary Supplements[Vitamins, Minerals, Botanicals, Enzyme, Fatty Acids, and Proteins]; By Distribution Channel(Speciality Stores, Department Stores, Supermarkets, Superstore, Hypermarket, Door-to-Door selling, eCommerce sites); By Region (North America, Europe, the Asia-Pacific, Latin America, and the Middle East and Africa); Trend Analysis, Competitive Market Share & Forecast, 2017-2027
- Published Date: March 2021
- Report ID: BWC20300
- Available Format: PDF
- Page: 178
Report Overview
Global
Nutraceutical Market- Industry Trends & Forecast Report 2027
The global nutraceutical market reached USD 410.20
billion in 2020 and is further projected to reach USD 712.63 billion by 2027, growing
at a CAGR of 8.28% during 2021-2027 (forecast period).The growth of the global nutraceutical
market has been positively impacted by the rising demand for healthy and
nutritious food. Nutraceuticals available in the form of gummies, drinks,
capsules, syrups, and powder are effective and easy to use, which has increased
their adoption. Also, some over-the-counter dietary
supplements, such as OMEGA-3-fatty acids, cholecalciferol sachets, and flavored
gummies available are highly preferred by consumers for maintaining a healthy
lifestyle and nutritious value intake.
A majority of consumers prefer purchasing nutraceuticals online as online purchase enables them to compare the different nutraceutical products available on various online stores. The demand for nutraceuticals went up during and after the COVID-19 pandemic with the growing demand for natural immunity-boosting products. The growing demand for nutraceuticals combined with the rising prevalence of acute and chronic diseases (such as obesity and calorie reduction), increasing awareness about a healthy lifestyle, and boosting immunity are likely to drive the growth of the global nutraceutical market.
Source:
BlueWeave Consulting
Global
Nutraceutical Market Overview
Nutraceutical is defined as any substance that may be
a food or part of a food that helps prevent diseases besides offering nutritional
benefits. Nutraceuticals are a good and healthy way to reduce expensive medical
treatments. The nutraceutical industry is bifurcated into three main segments—functional
food, dietary supplements, and herbal/natural products. In the past few years,
functional foods have gained popularity within the health and wellness segment.
Functional foods contain high nutritious value and are associated with several powerful
health benefits. The concept began in Japan in the 1980s when government
officials began approving foods with established health benefits in an attempt
to improve the health of the general public. Foods supplemented with vitamins,
probiotics, minerals, and fiber are some examples.
The dietary supplement holds the largest share in the nutraceutical market, followed by functional food and
herbal/natural products.Over
the next few years, an increase in awareness for nutritional enrichment among
working professionals in the United States and Canada for ensuring balanced
nutrition in the human body is expected to increase dietary supplement intake
in North America. Also,
the growing adoption of herbal medicines among individuals in the U.S. and
Canada on account of rising concerns over perilous effects associated with
conventional pharma drugs is expected to expand the nutraceuticals market over
the forecast period.
Global
Nutraceutical Market Forecast and Trends
Growth
Drivers
Busy
Lifestyle is Driving the Market Growth of Nutraceutical
Busy lifestyles in developing and emerging regions
will have a positive impact on the nutraceutical market's growth. According to a
recent study, up to 4% of global diseases
are associated with unhealthy diets due to a busy lifestyle. With the exponential growth of the working population,people’s lifestyles are getting more hectic globally. It is predicted that the incidence
of diseases caused by bad dietary habits will increase significantly due to
busy lifestyles and unbalanced diets.
Developed markets in the United
States and Europe are now discovering the untapped segment of customized
products based on consumer health. It has been reported that nine out of ten adults consume 55% of
minerals and over 50% of vitamins in their daily diets which reveals that this
market has lots of opportunities. This is likely to boost research and development activities for developing new nutraceutical
products as the demand for the same
is rising among the consumers.
The
Intervention of AI in Nutraceutical is Growing its Demand
Artificial Intelligence (AI) has significantly shown a positive
contribution in boosting this sector. Various AI-designed apps and tools are currently
being used to develop customized or tailor-made nutraceutical products. The
amalgamation of AI into the nutraceuticals industry not only increases efficiency
but also decreases the probability of human error. The aim is to bridge the gap between
the demand and supply of personalized alternative medications. Moreover, AI
helps accumulate huge volumes of data through patient diagnosis. With the help
of algorithms,a specific pattern is recognized, to offer the most effective
and affordable treatment available within the domain of nutraceutical products. For instance, MedicascyAI Solutions Platform aims at
revolutionizing the way nutraceuticals are identified and manufactured. It has
been designed to reduce the amount of time spent on research and development in
the nutraceutical industries so that the manufacturers can focus on ingredients
that have the highest chance of producing the best results.
Restraints
Increase in the number of counterfeit nutraceuticals
products in the name of original products
A major factor restraining the growth of the nutraceutical
market is the availability of many counterfeit products in the market. Providing
customers with safe products is the key to building consumer trust, and the
nutraceuticals industry is no exception. Unfortunately, many fake,
unregistered, and unapproved nutraceutical products have flooded the market.
Consequently, there has been an increase in the number of skeptical consumers as
well as the industry trade community. To overcome this, companies, as well as
governing bodies need to launch some campaigns to make the consumers aware of
their products and labeling.
In many emerging economies nutraceutical is still at
early development and respective governments are working on the regulations in
this industry. In order to maintain trust among consumers, themarket players need to build integrity into their brands.
Impact
of COVID-19 on Global Nutraceutical Market
There has been a positive impact of the COVID-19
pandemic on the nutraceutical market as people are now more conscious about
their health and immunity. Nutraceutical products are known for providing
health and medical benefits for boosting the immune system as well as preventing
chronic diseases. The increase in demand for nutraceuticals has created ample
opportunities for market players to explore untapped regions and fuel the
growth of this sector. Taking the advantage of the pandemic, many fake
nutraceutical companies have flooded the market for selling counterfeit
products. As a result, food safety authorities are now at non-negotiable terms
with the claims and demanding clinical validation of the nutraceutical products.
Thus, the pandemic has accentuated the rightful use of nutraceutical products.
Global
Nutraceutical Market- By Product Type
Based on product type, the market has been segmented
into- functional food (cereal, bakery and confectionary, dairy and snack); functional
beverage (energy drink, sports drink, fortified juice, dairy and dairy alternative
beverage); and dietary supplements (vitamins, minerals, botanicals, enzyme,
fatty acids, and proteins). It is anticipated that the dietary supplement segment would dominate the market during the forecast period. The growth of
this segment can be attributed to the growing demand for easy-to-carry and easy-to-consume
supplements. Additionally, the growing awareness of a healthy lifestyle,
increased demand for self-care and easy-to-carry products, and an increase in
the number of R&D initiatives pertaining to dietary supplements is
expected to support market development.
Global
Nutraceutical Market- By Distribution Channel
Based on the distribution channel, the market is segmented into- specialty stores, department stores, supermarkets, superstores, hypermarkets, door-to-door selling, and e-commerce sites. It is anticipated that the supermarket segment would dominate the market during the forecast period as they are easily accessible to consumers and offer nutraceutical products at economical prices. The specialty stores segment is projected to be the fastest-growing segment in the market during the forecast period. These stores mainly include bakery stores, confectionery stores, and gourmet stores.
Source:
BlueWeave Consulting
Global
Nutraceutical Market- By Region
Based on region, the market has been segmented into- North America, Europe, the Asia-Pacific, Latin America, and the Middle East and Africa. It is anticipated that North America will witness the largest revenue in the market due to the growing demand for protein ingredients as a result of the increase in consumption of snacks, cold cereals, and energy bars. Moreover, the introduction of new products such as Enfamil Human Milk Fortifier Liquid High Protein companies such as Mead Johnson and Cargill, Inc. to cater to the consumer needs for cholesterol-free and low saturated fat beverages is expected to increase the product demand further.
Source:
BlueWeave Consulting
Competitive
Landscape
There are great opportunities for Tier II, emerging
players, and new entrants in this market. Tier I players like Cargill Inc.,
PepsiCo is already in the game and has attained maturity in developed
countries. Companies are increasingly focused on offering the best affordable
prices in order to boost their production capability, product portfolio, and
provide competitive differentiation. Furthermore, companies are focused on
securing consumer trust over genuine nutraceutical products as fake or
counterfeit products are flooding the nutraceutical market. Some of the key players operating in the market are Cargill Incorporated, ADM,
DuPont, Nestle, Danone, DSM, General Mills Inc., Kellogg’s Company, Herbalife
International of America, Inc., Matsun Nutrition.
Recent Developments
·
In June 2020, Nestlé Health Science acquired
major stakes in Vital Proteins (America’s collagen brand). It may be the first
time a collagen-based health business has been taken over. Collagen is the most
abundant protein found in the human body but it starts declining after 25 years
of age, Thus, collagen-based supplements are becoming widely popular as they
support skin, hair, joints, and bone diseases.
·
In February 2020, Cipla acquired the nutrition
product portfolio of Wanbury Ltd. It aims to cater to a wide range of patient
requirements, including nutritional deficiencies, bone health, and sexual
health.
Scope of Report
Attribute |
Details |
Years considered |
Historical data-
2017-2020 Base Year- 2021 Forecast-
2021-2027 |
Facts
covered |
Revenue in USD
billion |
Market
coverage |
US, Canada,
Germany, UK, France, Italy, Spain, Brazil, Mexico, Japan, South Korea, China,
India, Australia, Argentina, UAE, South Africa, Saudi Arabia, Turkey, Egypt,
and others |
Product/
Service segmentation |
By Product Type,
By Distribution Channel, By Region |
Key
Players |
Cargill
Incorporated, ADM, DuPont, Nestle, Danone, DSM, General Mills Inc., Kellogg’s
Company, Herbalife International of America, Inc., Matsun Nutrition.
|
By
Product Type
Ø
Functional Food
o
Cereal
o
Bakery and Confectionary
o
Dairy
o
Snack
Ø
Functional Beverage
o
Energy
Drink
o
Sports
Drink
o
Fortified
Juice
o
Dairy
and Dairy Alternative Beverage
Ø
Dietary Supplements
o
Vitamins
o
Minerals
o
Botanicals
o
Enzyme
o
Fatty Acids
o
Proteins
By
Distribution Channel
Ø
Specialty Stores
Ø
Department Stores
Ø
Supermarkets
Ø
Superstores
Ø
Hypermarkets
Ø
Door-to-Door selling
Ø
E-commerce Sites
By
Region
Ø
North America
Ø
Europe
Ø
The Asia-Pacific
Ø
Latin America
Ø
The Middle East and Africa
1.
What is the current
size of the global nutraceutical market?
Answer: The global nutraceutical
market has reached USD 410.20 billion in 2020.
2.
What are the major
factors driving the growth of the global nutraceutical market?
Answer: The major factors
driving the growth of the global nutraceutical market is the growing
prevalence of chronic and non-communicable diseases due to busy lifestyles and AI advancements in nutraceuticals.
3.
Who are the key
players in the global nutraceutical market?
Answer: The key players in the
global nutraceutical market are Cargill Incorporated, ADM, DuPont, Nestle,
Danone, DSM, General Mills Inc., Kellogg’s Company, Herbalife International of
America, Inc., Matsun Nutrition.
4. Which product type accounted for the largest share in
the global nutraceutical market?
Answer: Dietary supplements
accounted for the largest share in the global nutraceutical market.
5.
Which distribution channel is growing at a higher rate in the global nutraceutical market?
Answer: The supermarket is likely to grow at a higher rate in the global nutraceutical market.
1. Research Framework
1.1. Research Objective
1.2. Product Overview
1.3. Market Segmentation
2. Research Methodology
2.1. Qualitative Research
2.1.1. Primary & Secondary Research
2.2. Quantitative Research
2.3. Market Breakdown & Data
Triangulation
2.3.1. Secondary Research
2.3.2. Primary Research
2.4. Breakdown of Primary Research
Respondents, By Region
2.5. Assumption & Limitation
3. Executive Summary
4. Global Nutraceutical Market Insights
4.1. Industry Value Chain Analysis
4.2. DROC Analysis
4.2.1. Growth Drivers
4.2.2. Restraints
4.2.3. Opportunities
4.2.4. Challenges
4.3. Recent Development/Technological Advancements
4.4. Porter’s Five Forces Analysis
4.4.1. Bargaining Application of
Suppliers
4.4.2. Bargaining Application of Buyers
4.4.3. Threat of New Entrants
4.4.4. Threat of Substitutes
4.4.5. Intensity of Rivalry
5. Global Nutraceutical Market Overview
5.1. Market Size & Forecast by
Value, 2017-2027
5.1.1. By Value (USD Million)
5.2. Market Share & Forecast
5.2.1. By Product Type
5.2.1.1.
Functional Food
5.2.1.1.1.
Cereal
5.2.1.1.2.
Bakery and Confectionary
5.2.1.1.3.
Dairy
5.2.1.1.4.
Snack
5.2.1.1.5.
Other Functional Foods
5.2.1.2.
Functional
Beverage
5.2.1.2.1.
Energy
Drink
5.2.1.2.2.
Sports
Drink
5.2.1.2.3.
Fortified
Juice
5.2.1.2.4.
Dairy
and Dairy Alternative Beverage
5.2.1.2.5.
Other
Functional Beverages
5.2.1.3.
Dietary
Supplements
5.2.1.3.1.
Vitamins
5.2.1.3.2.
Minerals
5.2.1.3.3.
Botanicals
5.2.1.3.4.
Enzyme
5.2.1.3.5.
Fatty
Acids
5.2.1.3.6.
Proteins
5.2.1.3.7.
Other
Dietary Supplements
5.2.2. By Distribution Channel
5.2.2.1.
Specialty Stores
5.2.2.2.
Department Stores
5.2.2.3.
Supermarkets
5.2.2.4.
Superstores
5.2.2.6.
Door-to-Door selling
5.2.2.7.
E-commerce Sites
5.2.3. By Region
5.2.3.1.
North America
5.2.3.2.
Europe
5.2.3.3.
The Asia-Pacific
5.2.3.4.
Latin America
5.2.3.5.
The Middle East and Africa
6. North America Nutraceutical
Market
6.1. Market Size & Forecast by
Value, 2017-2027
6.1.1. By Value (USD Million)
6.2. Market Share & Forecast
6.2.1. By Product Type
6.2.2. By Distribution Channel
6.2.3. By Country
6.2.3.1.
United States
6.2.3.2.
Canada
7. Europe Nutraceutical
Market
7.1. Market Size & Forecast by
Value, 2017-2027
7.1.1. By Value (USD Million)
7.1.2. Market Share & Forecast
7.1.3. By Product Type
7.1.4. By Distribution Channel
7.1.5. By Country
7.1.5.1.
Germany
7.1.5.2.
United Kingdom
7.1.5.3.
Italy
7.1.5.4.
France
7.1.5.5.
Spain
7.1.5.6.
Rest of Europe
8. the Asia-PacificNutraceutical
Market
8.1. Market Size & Forecast by
Value, 2017-2027
8.1.1. By Value (USD Million)
8.2. Market Share & Forecast
8.2.1. By Product Type
8.2.2. By Distribution Channel
8.2.3. By Country
8.2.3.1.
China
8.2.3.2.
India
8.2.3.3.
Japan
8.2.3.4.
Singapore
8.2.3.5.
South Korea
8.2.3.6.
Rest of Asia Pacific
9. Latin America
Nutraceutical Market
9.1. Market Size & Forecast by
Value, 2017-2027
9.1.1. By Value (USD Million)
9.2. Market Share & Forecast
9.2.1. By Product Type
9.2.2. By Distribution Channel
9.2.3. By Country
9.2.3.1.
Brazil
9.2.3.2.
Argentina
9.2.3.3.
Columbia
9.2.3.4.
Mexico
9.2.3.5.
Rest of Latin America
10. the Middle East & Africa Nutraceutical Market
10.1. Market Size & Forecast by
Value, 2017-2027
10.1.1. By Value (USD Million)
10.2.
Market Share & Forecast
10.2.1. By Product Type
10.2.2. By Distribution Channel
10.2.3. By Country
10.2.3.1.
Saudi Arabia
10.2.3.2.
Iran
10.2.3.3.
UAE
10.2.3.4.
South Africa
10.2.3.5.
Rest of The Middle East & Africa
11. Competitive Landscape
11.1.
List of Key Players and Their Offerings
11.2.
Market Share Analysis, 2020
11.3.
Competitive Benchmarking, By Operating
Parameters
12. Impact of Covid-19 on Global Nutraceutical Market Industry
13. Company Profile (Company Overview, Financial Matrix, Competitive
landscape, Key Personnel, Key Competitors, SWOT Analysis, Contact Address, and
Strategic Outlook)**
13.1.
CargillIncorporated
13.2.
ADM
13.3.
DuPont
13.4.
Nestle
13.5.
Danone
13.6.
DSM
13.7.
General Mills Inc.
13.8.
Kellogg’s Company
13.9.
Herbalife International of America, Inc.
13.10.
Matsun Nutrition
13.11.
Amway Corporation
13.12.
W.R. Grace & Co-Conn.
13.13.
Innophons Inc.
13.14.
AOR Inc.
13.15.
Arkopharma
13.16.
BactolacPharmaceuticals, Inc.
13.17.
E.I.D. Parry
13.18.
Mead Johnson & Company LLC
13.19.
Natrol LLC
13.20.
Hain Celestial
13.21.
Others
*Financial details of unlisted
companies will be available as per data availability in final deliverable
**The segmentation and the
companies are subjected to modifications based on in-depth secondary for the
final deliverable
List of Figures
Fig: Global Nutraceuticals
Segmentation
Fig: Global Nutraceuticals
Market Value Chain Analysis
Fig: Company
Market Share Analysis, 2020
Fig: Global Nutraceuticals
Market Size, By Value (USD Million), 2017-2027
Fig: Global Nutraceuticals
Market Share, By Product Type, By Value, 2017-2027
Fig: Global Nutraceuticals
Market Share, By Distribution Channel, By Value, 2017-2027
Fig: Global Nutraceuticals
Market Share, By Region, By Value, 2017-2027
Fig: North
America Nutraceutical Market Size, By Value (USD Million), 2017-2027
Fig: North
America Nutraceuticals Market Share, By Product Type, By Value, 2017-2027
Fig: North
America Nutraceuticals Market Share, By Distribution Channel, By Value, 2017-2027
Fig: Europe Nutraceuticals
Market Size, By Value (USD Million), 2017-2027
Fig: Europe Nutraceuticals
Market Share, By Product Type, By Value, 2017-2027
Fig: Europe Nutraceuticals
Market Share, By Distribution Channel, By Value, 2017-2027
Fig: Europe Nutraceuticals
Market Share, By Country, By Value, 2017-2027
Fig: the Asia-PacificNutraceuticals
Market Size, By Value (USD Million), 2017-2027
Fig: the
Asia-PacificNutraceuticals Market Share, By Product Type, By Value, 2017-2027
Fig: the
Asia-PacificNutraceuticals Market Share, By Distribution Channel, By Value, 2017-2027
Fig: the
Asia-PacificNutraceuticals Market Share, By Country, By Value, 2017-2027
Fig: Latin
America Nutraceuticals Market Size, By Value (USD Million), 2017-2027
Fig: Latin
America Nutraceuticals Market Share, By Product Type, By Value, 2017-2027
Fig: Latin
America Nutraceuticals Market Share, By Distribution Channel, By Value, 2017-2027
Fig: Latin
America Nutraceuticals Market Share, By Country, By Value, 2017-2027
Fig: the Middle
East & AfricaNutraceuticals Market Size, By Value (USD Million), 2017-2027
Fig: the Middle
East & AfricaNutraceuticals Market Share, By Product Type, By Value, 2017-2027
Fig: the Middle
East & AfricaNutraceuticals Market Share, By Distribution Channel, By
Value, 2017-2027
Fig: the Middle
East & AfricaNutraceuticals Market Share, By Country, By Value, 2017-2027
List of Tables
Table: Global
Nutraceuticals Market Size, By Product Type, By Value, 2017-2027
Table: Global
Nutraceuticals Market Size, By Distribution Channel, By Value, 2017-2027
Table: Global Nutraceuticals Market Size, By Region, By Value, 2017-2027
Table: North
America Nutraceuticals Market Size, By Product Type, By Value, 2017-2027
Table: North
America Nutraceuticals Market Size, By Distribution Channel, By Value, 2017-2027
Table: North
America Nutraceuticals Market Size, By Country, By Value, 2017-2027
Table: Europe
Nutraceuticals Market Size, By Product Type, By Value, 2017-2027
Table: Europe
Nutraceuticals Market Size, By Distribution Channel, By Value, 2017-2027
Table: Europe
Nutraceuticals Market Size, By Country, By Value, 2017-2027
Table: the
Asia-Pacific Nutraceuticals Market Size, By Product Type, By Value, 2017-2027
Table: the
Asia-Pacific Nutraceuticals Market Size, By Distribution Channel, By Value, 2017-2027
Table: the
Asia-Pacific Nutraceuticals Market Size, By Country, By Value, 2017-2027
Table: Latin
America Nutraceuticals Market Size, By Product Type, By Value, 2017-2027
Table: Latin
America Nutraceuticals Market Size, By Distribution Channel, By Value, 2017-2027
Table: Latin
America Nutraceuticals Market Size, By Country, By Value, 2017-2027
Table: the
Middle East & Africa Nutraceuticals Market Size, By Product Type, By Value,
2017-2027
Table: the
Middle East & Africa Nutraceuticals Market Size, By Distribution Channel,
By Value, 2017-2027
Table: the
Middle East & Africa Nutraceuticals Market Size, By Country, By Value, 2017-2027
Table: Cargill IncorporatedFinancial Analysis
Table:
ADMFinancial Analysis
Table:
DuPontFinancial Analysis
Table: Nestle
Financial Analysis
Table:
DanoneFinancial Analysis
Table: DSM
Financial Analysis
Table: General
Mills Inc.Financial Analysis
Table: Kellogg’s
CompanyFinancial Analysis
Table:
Herbalife International of America, Inc.Financial Analysis
Table: Matsun
Nutrition Financial Analysis
Table: Amway
CorporationFinancial Analysis
Table: W.R.
Grace & Co-Conn.Financial Analysis
Table: Innophons
Inc.Financial Analysis
Table: AOR
Inc.Financial Analysis
Table:
Arkopharma Financial Analysis
Table: Bactolac
Pharmaceuticals, Inc.Financial Analysis
Table: E.I.D.
Parry Financial Analysis
Table: Mead
Johnson & Company LLCFinancial Analysis
Table: Natrol
LLCFinancial Analysis
Table: Hain Celestial
Financial Analysis
Market Segmentation
By Product Type
Ø Functional Food
o Cereal
o Bakery and Confectionary
o Dairy
o Snack
Ø Functional Beverage
o Energy Drink
o Sports Drink
o Fortified Juice
o Dairy and Dairy Alternative Beverage
Ø Dietary Supplements
o Vitamins
o Minerals
o Botanicals
o Enzyme
o Fatty Acids
o Proteins
By Distribution Channel
Ø Specialty Stores
Ø Department Stores
Ø Supermarkets
Ø Superstores
Ø Hypermarkets
Ø Door-to-Door selling
Ø E-commerce Sites
By Region
Ø North America
Ø Europe
Ø The Asia-Pacific
Ø Latin America
Ø The Middle East and Africa
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