The
global nutraceuticals market is analyzed to carry a consolidated
nature and exhibit a high competitive scenario during the course of
the forecast period 2015–2021. Amongst others, the leading
companies of the world market, viz. Nestle S.A., Groupe Danone S.A.,
BASF SE, and Royal DSM N.V., are expected to collect a combined share
of 52.1%. Other players such as Archer Daniels Midland Company are
taking to acquisitions and agreements to enhance the quality of
products and stretch their product portfolio. Asia, Europe, and North
America are the chief regions targeted by top nutraceutical firms
while being heavily involved in functional food manufacture.
As
per the statistical findings of a report by Transparency Market
Research (TMR), the international nutraceuticals market is prophesied
to take home US$278.96 bn by 2021 from US$198.66 in 2016. North
America is foreseen to win against the prospering Asia Pacific market
with a US$107.90 bn share in the concluding forecast year. Functional
food products have always been the star performer of the market with
a US$61.27 bn revenue in 2016 and an expected US$85.21 bn in 2021.
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Lavish
Healthcare Expenditure and Aggravating NCDs Endorse Usage of
Nutraceuticals
Currently,
the U.S., the U.K., India, and more regions of the global
nutraceuticals market are observed to splurge high amounts on
healthcare expenses due to extreme health concerns. Although this
trend is foretold to stay alive for a short period until the end of
2017, the effect is anticipated to continue over a longer term. The
ballooning disposable income is deemed to support the high healthcare
spending in these countries.
There
is an urgent need to eradicate non-communicable diseases (NCDs),
especially in emerging nations, owing to their negative influence on
low and middle income groups, global economy, national income, labor
supplies, and private and government industries due to premature
death.
The
demand for functional foods is envisaged to swell on the back of a
surging accentuation of healthy diet benefits, improvised
distribution and transportation systems, elevating income, and
soaring urbanization in the developed regions of the nutraceuticals
market.
Nutraceuticals
are regarded as the best alternatives for over-the-counter (OTC) and
prescription drugs by both consumers and manufacturers in the world
nutraceuticals
market. For consumers, more commonly the aging population,
nutraceuticals are better than pharmaceuticals because they provide
nutritional as well as health boons. Besides this, they can be
purchased without a prescription or doctor’s appointment. For drug
manufacturers, nutraceuticals are a better choice as OTC and
prescription medicines need to be produced according to the stringent
regulations of the U.S. Food and Drug Administration (FDA) and a
proof of their effectiveness and safety.
Product
Prices Worth King’s Ransom Humble Global Market Rise
Less
awareness about nutraceutical products and their spiraling prices
could veto the progress of the global nutraceuticals market. However,
Asia Pacific is studied to emerge as a high-paying market with
multiple factors to support its rise such as escalating occurrence of
digestive issues and coronary heart disease, health consciousness,
healthy food consumption, and high disposable income.
Technological
advancements in the form of enhanced encapsulation and extraction of
omega 3 fatty acids involved in regular dietary foods are predicted
to the help the world nutraceuticals market advantageously. This type
of encapsulation cancels the smell and taste of fish while enjoying
the health benefits of omega 3 fatty acids in dietary beverages. The
application of nutraceuticals is not just limited to dietary
supplements, they are also extensively used in probiotics and
fortified food products, including ice creams, baked foods, and
chocolates.
The
study presented here is based on a report by TMR, titled
“Nutraceuticals Market - Global Industry Analysis, Size, Share,
Growth Trends, and Forecast 2015-2021.”
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
- Proteins & Peptides
- Vitamins & Minerals
- Herbals ( Ayurvedic extracts, plant extracts, algal extracts, phytochemicals)
- Other (fatty acids, fiber)
Personal
Care and Pharmaceutical
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