Nutraceutical Products Market to Reach $691.87 Billion by 2030 – Exclusive Report by Meticulous Research®

Redding, California, July 06, 2023 (GLOBE NEWSWIRE) — According to a new market research report titled, ‘Nutraceutical Products Market by Type (Functional Food {Confectionery Products, Dairy Products}, Functional Beverages, Dietary Supplements), Source (Vitamin, Mineral), Distribution Channel (Specialty Stores, E-commerce) – Global Forecast to 2030,’ the global nutraceutical products market is projected to reach $691.87 billion by 2030, at a CAGR of 7.8% during the forecast period.

The growth of the market can be attributed to the growing demand for nutrition-enriched products, rising demand for functional beverages, increasing geriatric population and prevalence of chronic diseases, and growing innovations and new product developments. Additionally, technological advancements in the nutraceutical sector and increased investment and expansion in the functional food and beverages industry provide significant growth opportunities for nutraceutical product manufacturers in the coming years.

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The nutraceutical products market is segmented by type (functional food [dairy products, bakery products, snacks, confectionery products, infant food products, other functional foods], functional beverages [energy drinks, sports drinks, fortified juices, dairy-based beverages, other functional beverages], dietary supplements [tablets, capsules, powder form, liquid form, other dietary supplements], source (vitamins, probiotics, minerals, proteins and amino acids, omega-3 fatty acids, prebiotics, phytochemical & plant extracts, fibers & specialty carbohydrates, other sources), distribution channel (supermarkets & hypermarkets, convenience stores, pharmacies & drug stores, specialty stores, e-commerce, other distribution channels), and geography (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa).

Among the types studied in this report, in 2023, the functional food segment is expected to account for the largest share of the global nutraceutical products market. The large market share of this segment is attributed to the growing demand for nutritional & fortifying food products and rising awareness about the health benefits of consuming these products. Consumers are increasingly drawn to food with functional ingredients to lower the risk of specific health concerns, such as obesity, weight loss, diabetes, and cardiovascular diseases, which contribute to the growth of this segment.

Among the sources studied in this report, in 2023, the vitamins segment is expected to account for the largest share of the global nutraceutical products market. The large market share of this segment is attributed to the growing number of vitamin deficiency cases among young adults, adolescents, and children. Moreover, increasing attention to health and the prevention of diseases by consumers and growing demand for immunity-boosting products is further expected to support the large market share of this segment. However, the prebiotics segment is slated to register the highest CAGR during the forecast period. This segment’s rapid growth is attributed to the rising chronic disorders and increasing health concerns regarding gut health, increasing consumption of prebiotics, and rising awareness about the benefits of prebiotics. The growing use of prebiotics in infant formulas is expected to create growth opportunities for players in this market.

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Among the distribution channels studied in this report, in 2023, the supermarkets & hypermarkets segment is expected to account for the larger share of the global nutraceutical products market. The large market share of this segment is attributed to rapid urbanization, rising per capita disposable incomes, consumers’ increasing adoption of healthy eating habits, and increased sales of functional food and beverages in well-established supermarkets and hypermarkets. However, the e-commerce segment is slated to register the highest CAGR during the forecast period. The growth of this regional market is attributed to the benefits offered by the e-commerce sales channel, such as the availability of a wide variety of products, easy accessibility and affordability, comparatively higher discounts than offline stores, and home delivery services.

Among the regions studied in this report, in 2023, North America is expected to account for the largest share of the nutraceutical products market. The large market share of this region is attributed to the well-established food & beverage industry; high awareness of the health benefits of nutraceuticals; the growing popularity of protein bars, shakes, and cookies among millennials; the rising demand for clean-label nutraceutical products; growing vegan trend and increasing health-conscious consumers; and advancements in nutrition and technology.

However, the Asia-Pacific region is slated to register the highest CAGR during the forecast period. The growth of this regional market is attributed to increasing demand for dietary supplements, rising awareness regarding the health benefits of nutritional products, increasing disposable incomes, rapid urbanization, and rising health wellness trends. Moreover, the rapid economic growth in countries such as China, Japan, and India drives the demand for fortified nutritional food and beverages, which is further expected to support the growth of this market during the forecast period.

In recent years, the nutraceutical products market has witnessed several product launches, expansions, and acquisitions. The key players operating in the nutraceutical products market are Abbott Laboratories (U.S.), Amway Corporation (U.S.), Conagra Brands, Inc. (U.S.), Danone S.A. (France), General Mills Inc. (U.S.), Glanbia plc (Ireland), Herbalife Nutrition Ltd. (U.S.), International Flavors & Fragrances Inc. (U.S.), Kellogg Company (U.S.), Nestle S.A. (Switzerland), PepsiCo, Inc. (U.S.), The Coca Cola Company (U.S.), Hearthside Food Solutions LLC (U.S.), Mars, Incorporated (U.S.), Meiji Holdings Co., Ltd (Japan), and Royal FrieslandCampina N.V. (Netherlands).

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Scope of the Report:

Nutraceutical Products Market Assessment – by Type

• Functional Food
  • • Dairy Products
    • Bakery Products
    • Snacks
    • Confectionery Products
    • Infant Food Products
    • Other Functional Food
• Functional Beverages
  • • Energy Drinks
    • Sports Drinks
    • Fortified Juices
    • Dairy-Based Beverages
    • Other Functional Beverages
• Dietary Supplements
  • • Tablets
    • Capsules
    • Powder Form
    • Liquid Form
    • Other Dietary Supplements

Nutraceutical Products Market Assessment – by Source

• Vitamins
• Probiotics
• Minerals
• Proteins and Amino Acids
• Omega-3 Fatty Acids
• Prebiotics
• Phytochemical & Plant Extracts
• Fibers & Specialty Carbohydrates
• Other Sources

Nutraceutical Products Market Assessment – by Distribution Channel

• Supermarkets & Hypermarkets
• Convenience Stores
• Pharmacies & Drug Stores
• Specialty Stores
• E-commerce
• Other Distribution Channels

Nutraceutical Products Assessment – by Geography

• North America
• Europe
  • • U.K.
    • Germany
    • France
    • Spain
    • Italy
    • Rest of Europe (RoE)
• Asia-Pacific
  • • China
    • India
    • Japan
    • Australia
    • South Korea
    • Rest of Asia-Pacific (RoAPAC)
• Latin America
  • • Brazil
    • Mexico
    • Argentina
    • Rest of Latin America (RoLATAM)
• Middle East & Africa

Quick Buy – Nutraceutical Products Market- Global Opportunity Analysis And Industry Forecast (2023-2030), Research Report:  https://www.meticulousresearch.com/Checkout/21991726

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