Global Nutraceuticals Market to Reach US$278.96 bn by 2021 owing to Increasing Demand for Nutritional Diet

Transparency Market Research has published a new report on the global nutraceuticals market. As per the report, the global nutraceuticals market is expected to expand at a 7.30% CAGR during the period from 2015 to 2021. The report, titled ‘Nutraceuticals Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2015 - 2021,’ states that the global nutraceuticals market is predicted to rise in value from US$182.60 bn in 2015 to US$278.96 bn by 2021 owing to the increasing occurrence of non-communicable chronic diseases.

The global nutraceuticals market is predicted to register rapid growth in the years to come due to consumers' increasingly inclination towards healthy and nutritional food, dietary supplements, and beverages. People have become health conscious and study about nutritional products in advance before buying them. Dietary supplements are consumed not only to meet the daily intake of the required nutrition but also to boost physical performance. All of these factors are expected to propel the global nutraceuticals market in the next few years. The extensive preference for nutritional, healthy, and herbal products is expected to fuel the growth of the global nutraceuticals market.

The usage of nutraceuticals is expected to be driven by the rising healthcare expenditure by consumers around the world. Moreover, some nutraceuticals are regarded as alternatives to OTC and prescription drugs. Technological advancements and the growing use of nutraceuticals in many new applications are predicted to propel the global nutraceuticals market in the next few years. Factors such as the lack of awareness about nutraceuticals and the rising prices of nutraceuticals products are predicted to hamper the growth of the global nutraceuticals market in the years to come.

The global nutraceuticals market is segmented on the basis of product type and geography. Based on product type, the global nutraceuticals market is classified into functional food, functional beverages, dietary supplements, and personal care and pharmaceutical. In 2014, in terms of revenue, the functional food segment held a share of 31.0% in the global nutraceuticals market. Going forward, the functional foods segment is expected to expand at a 7.10% CAGR during the period between 2015 and 2021. In 2014, the functional beverage segment trailed but is expected to progress at a 7.4% CAGR from 2015 to 2021.

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Nutraceuticals of all types are contributing to the food and beverages sector due to the minimal regulatory requirements and relatively high margins. Factors such as mergers and acquisitions, new product launches, and the introduction of nutraceuticals specially designed for improving cardiac health are predicted to propel the global nutraceuticals market.

Based on geography, the global nutraceuticals market is divided into Europe, North America, Asia Pacific, and Rest of the World. Cargill, Incorporated, Archer Daniels Midland Company, Royal DSM N.V., BASF SE, Nestle S.A., Groupe Danone S.A., E. I. du Pont de Nemours and Company, PepsiCo Inc., Aland (Jiangsu) Nutraceutical Co., Ltd., and General Mills, Inc. are the prominent companies operating in the global nutraceuticals market. With the entry of new companies and the introduction of new products, the global nutraceuticals market is expected to remain highly competitive.

Key Segments of Global Nutraceuticals Market

Global nutraceuticals market, by product type

Functional Food

• Probiotics Fortified Food
• Omega Fatty Acid Fortified Food
• Branded Ionized Salt
• Branded Wheat Flour Market
• Others (nuts, grains, garlic)

Functional Beverages

• Fruit & Vegetable Juices and Drinks
• Dairy & Dairy Alternative Drinks
• Noncarbonated Drinks (bottled water, tea and coffee)
• Other (herbal tea, sports drinks, energy drinks)

Dietary Supplements Segment

• Proteins & Peptides
• Vitamins & Minerals
• Herbals ( Ayurvedic extracts, plant extracts, algal extracts, phytochemicals)
• Other (fatty acids, fiber)

Personal Care and Pharmaceutical

Global nutraceuticals market, by geography

• North America
• Europe
• Asia-Pacific
• Rest of the World (RoW)