Blueweave
Global Nutraceutical Market

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.    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

5.2.2.5.       Hypermarket

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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Frequently Asked Questions (FAQs):

Ans: The global nutraceutical market has reached USD 410.20 billion in 2020.
Ans: 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.
Ans: 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.
Ans: Dietary supplements accounted for the largest share in the global nutraceutical market.
Ans: The supermarket is likely to grow at a higher rate in the global nutraceutical market.