Nutraceuticals Market Explores New Growth Opportunities By 2021

Transparency Market Research (TMR) has announced the addition of a new market study on the nutraceuticals market. The report analyzes the drivers and restraints of the market. The report is titled “Nutraceuticals Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2015 - 2021.” As per the findings in the report, the market, which was valued at US$182.60 bn in 2015, will rise to US$278.96 bn by 2021, exhibiting a CAGR of 7.3% from 2015 through 2021. An increase in the prevalence of non-communicable chronic diseases and rising healthcare expenditure are expected to drive the global nutraceuticals market.

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Nutraceuticals are products that offer health and nutrition benefits over and above the basic nutrition value present in food items. Nutraceuticals range from dietary supplements, isolated nutrients, and herbal products to processed foods and beverages. Nutraceuticals offer lucrative margins to food and beverages company and also have minimal regulatory requirements involved. Thus, an increasing number of companies are entering the nutraceuticals market.

Increasing health consciousness among consumers is driving the global nutraceuticals market. The increasing consumer awareness about the basic nutrition value present in food and growing preference for nutritious products are driving the global nutraceuticals market. The use of nutraceuticals products as a physical performance booster is expected to benefit the market. Moreover, nutraceuticals products are perceived to contain nutrients that will prevent diseases, which is propelling the nutraceuticals market. The use of nutraceuticals as an alternative to prescription and OTC drugs will further drive the market towards growth.

Yet, the global nutraceuticals market is expected to be hampered by rising prices of nutraceuticals. A lack of awareness about nutraceuticals is also expected to restrain the market’s growth. However, technological advancements are expected to open doors of opportunities in the global nutraceuticals market. Additionally, the use of nutraceuticals across new application areas will also drive the market to a new high.

The global nutraceuticals market is segmented on the basis of product and geography. On the basis of product, the global nutraceuticals market is segmented into functional food, functional beverages, dietary supplements, and personal care and pharmaceuticals. Of these, the functional food segment led in terms of revenue in 2014, representing a share of 31% in the global nutraceuticals market. The segment is expected to expand at a 7.1% CAGR from 2015 to 2021.

On the basis of region, the global nutraceuticals market is segmented into Europe, North America, Asia Pacific, and the Rest of the World. Of these, North America held the largest share in the market in 2014 and the demand for nutraceuticals is expected to remain steady in the future, due to high demand from the U.S. and Canada.

The report profiles key companies operating in the global nutraceuticals market for the purpose of study. The companies included are: BASF SE, Archer Daniels Midland Company, Groupe Danone S.A., Cargill, Incorporated, Aland (Jiangsu) Nutraceutical Co., Ltd. The challenges faced by these companies and the strategies adopted by them to grow in the market have been included in the report.

Nutraceuticals Market: Rising Prevalence of Non-communicable Diseases to Propel Growth of Market

A handful of players dominate over half of the global market for nutraceuticals, thus contributing significantly to the formation a moderately consolidated competitive landscape. The global market is sensitive of prices and has experienced an intensified competition amongst the vendors. Players such as Groupe Danone S.A., Nestle S.A., BASF SE, and Royal DSM N.V. have come up to be leading companies in the global nutraceuticals market with cumulatively accounting for over 50% of market share in 2015. These companies in the market are primarily engaged in the manufacturing functional food, beverages, and nutritional supplements. Tactical collaborations, acquisitions, and mergers are the important strategies taken up by the leading companies to enhance their market presence in the global nutraceuticals market.

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Recently, the industrial bioscience enterprise, Amyris Inc., announced that it has joined hands with Royal DSM N.V. about new product development and have made a manufacturing agreement for a new category of nutrition ingredients for humans. The global science-based company is active in nutrition, health, and materials. With the help of this new venture, the company is trying to focus on producing and developing solutions that will serve bigger markets within the human and animal nutrition and health sector.

The global market for is expected to reach a staggering figure of market valuation worth US$278.96 bn by the end of the year 2021. This growth in the market valuation is expected to be achieved with the help of an impressive CAGR of 7.3% over the course of the given forecast period of 2015 to 2021.

What Factors are Driving Overall Development of Global Nutraceuticals Market?

The demand for nutraceutical products is projected to grow significantly on the back of the growing incidences of chronic non-communicable diseases and increasing expenditure over healthcare. Emerging countries such as India, China, and Japan show a comparatively higher occurrence of these non-communicable diseases such as diabetes, cancer, lung disorders, and cardiovascular disorders. Demand for these nutraceuticals is thus projected to slowly increase from these emerging nations. The slowly growing expenditure in the healthcare segment will also propel the growth of the global nutraceuticals market.

The increasing demand for milk and meat is encouraging manufacturers of animal feed in the emerging nations to integrate nutraceuticals in the animal feed. Besides this, the growing demand for natural beauty product and a proper nutritional diet across the developed countries is also expected to augment the growth of the global nutraceuticals market.

All across the globe, people are becoming increasingly aware of the common side effects caused by pharmaceutical products. This is also one of the major reasons for masses to opt for natural products and food derived from natural elements, and thus, driving the overall growth of the global nutraceuticals market.

What Factors May Slow Down Development of Global Market?

In spite of experiencing decent growth opportunities across the globe, the rising prices of the nutraceutical products are causing some problems in the overall development of the market. The most affected areas are the emerging nations where people have low acceptance towards buying these products that are costlier than normal pharmaceutical products. Moreover, a general lack of awareness is also stopping the global nutraceuticals market to reach its full potential. However, increasing marketing strategies by the leading companies and the initiatives to create awareness among masses about these nutraceutical products is expected to create lucrative opportunities over the coming years. 

Nutraceuticals Market Increasing Due to Consumers Show Growing Inclination toward Natural Ingredients

Nutraceuticals are products that offer health and nutrition benefits over and above the basic nutrition value present in food items. Nutraceuticals range from dietary supplements, isolated nutrients, and herbal products to processed foods and beverages. Nutraceuticals offer lucrative margins to food and beverages company and also have minimal regulatory requirements involved. Thus, an increasing number of companies are entering the nutraceuticals market.

Increasing health consciousness among consumers is driving the global nutraceuticals market. The increasing consumer awareness about the basic nutrition value present in food and growing preference for nutritious products are driving the global nutraceuticals market. The use of nutraceuticals products as a physical performance booster is expected to benefit the market. Moreover, nutraceuticals products are perceived to contain nutrients that will prevent diseases, which is propelling the nutraceuticals market. The use of nutraceuticals as an alternative to prescription and OTC drugs will further drive the market towards growth.

Yet, the global nutraceuticals market is expected to be hampered by rising prices of nutraceuticals. A lack of awareness about nutraceuticals is also expected to restrain the market’s growth. However, technological advancements are expected to open doors of opportunities in the global nutraceuticals market. Additionally, the use of nutraceuticals across new application areas will also drive the market to a new high.

TMR forecasts, the global nutraceuticals market to reach US$278.96 bn by the end of 2021 from a valuation of US$165.62 bn in 2014. The market is projected to exhibit a CAGR of 7.3% from 2014 to 2015.

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Based on products, functional food emerged as the largest segment, holding approximately 31% of the market in terms of revenue. With a share of 39.6% by value, North America emerged as the dominant geographical segment in the market in 2014.

A handful of companies hold over half of the global nutraceuticals market, thus contributing to the creation of a fairly consolidated vendor landscape. The market is price-sensitive and witnesses a high degree of competition. As per Transparency Market Research (TMR), BASF SE, Groupe Danone S.A., Royal DSM N.V., and Nestle S.A., emerged as the top players, accounting for over 52.1% in the global nutraceuticals market in 2014.

This review is based on a report published by Transparency Market Research, titled “Nutraceuticals Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2015 - 2021.”

Key Takeaways:

• Lack of knowledge to limit scope of expansion of nutraceuticals market across less developed regions.
• With a share of 39.6% in revenues, North America dominated the global market in 2014
• Functional food emerged as the leading product segment, holding over 31% of the market by revenue in 2014

Awareness Regarding Health Benefits to Trigger Growth in Demand for Nutraceuticals Globally

A nutraceutical mainly refers to a standardized nutrient and a pharmaceutical grade. In the U.S., nutraceuticals are not considered under any category and are thus regulated as food additives and dietary supplements by the FDA. Nutraceuticals are basically products that are extracted from food sources that are meant to provide additional health benefits along with the basic nutritional value it already provides the consumers with. Depending on the dominion, these nutraceutical products might claim to prevent chronic ailments, enhance health, delay the process of aging, enhance life expectancy and support the function of the body. Several leading companies are plying for a leading position in the global nutraceuticals market among the tough competition in the consolidated market. They are also focusing on product innovation to stay competitive in the market.

The global market for nutraceuticals is anticipated to rise at a 7.3% CAGR from 2015 to 2021. The market is expected to reach US$278.96 bn by 2021 from a valuation of US$165.62 bn in 2014.

Which product’s demand is likely to help the market grow in the years ahead?

Based on revenue, the segment that emerged dominant in 2014 was functional food. It acquired a share of 31% in the same year. Over the last few years, the demand for functional foods such as branded ionized salt, omega fatty acid fortified food, probiotics, fortified food, and branded wheat flour has surged extensively. The growing interest among consumers for achieving wellness and good health through a balanced diet, the burgeoning geriatric population, and the intensifying costs of healthcare services are likely to fuel the demand for functional food products over the coming years.

Other than this, the manufacturers of functional beverages are anticipated to witness lucrative prospects along the line. The demand for functional beverages is also projected to witness a significant growth over the coming years across several nations in Asia owing to their inclination towards beverages which are dairy based. Over the next couple of years, the demand for dietary supplements is also likely to reach a noteworthy height.

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How will price act as a roadblock in the development of the market?

In spite of seeing ideal development openings around the globe, the expanding costs of nutraceuticals are blocking their acknowledgment crosswise emerging economies. Nutraceuticals are by and large estimated higher than pharmaceuticals. This price gap is convincing individuals to move towards low value solutions.

The absence of awareness regarding nutraceuticals is another factor restricting the market's journey towards growth. An expansive base of individuals around the globe are yet to understand the advantages offered by nutraceuticals. A larger part of consumers along these lines still decide on regular pharmaceuticals rather than nutraceuticals with the end goal of treatment. General public in this manner have less confidence in the adequacy of nutraceuticals because of their restricted learning with respect to such items. This unfavorably thus impacts the development path of the nutraceuticals market.

Global Nutraceuticals Market: Savvy Players Leverage Strategic Collaborations to Bolster Positions, finds TMR

The global nutraceuticals market is consolidated in nature in which just a few companies account for almost about half of the share in the market. The top companies operating in the market are Groupe Danone S.A., BASF SE, Nestle S.A., and Royal DSM N.V. They mostly manufacture functional food, functional beverages, and nutritional supplements.

The degree of competition is high and the market is price-sensitive. Astute players in the global market for nutraceuticals are have been resorting to mergers and acquisitions and strategic collaborations to grow their market share.

A report by Transparency Market Research, forecasts the global market for nutraceuticals to expand at a healthy CAGR of 7.3% during the period from 2015 to 2021 to attain a value of US$278.96 bn, by the end of 2021 from US$165.62 bn in 2014.

Highly Health Conscious Population Thrusts North America Market to the Forefront

At present, functional food grosses maximum revenue in the global market for nutraceuticals, finds the TMR report. In 2014, for example, it held a substantial 31.0% share in the market. This is because of the continued rise in demand for functional food products such as fortified food, branded wheat flour, probiotics, branded ionized salt, omega fatty acid fortified food, etc. in the past couple of years. The growing crop of consumers keen on a healthy diet, the growing pool of elderly, and the spiking healthcare prices have driven the demand for functional foods mainly. Asia Pacific accounts for most of the sales of functional beverages at present owing to its people preferring dairy-based beverages.

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Geographically, the key segments in the global market for nutraceuticals are Asia Pacific, North America, Europe, and the Rest of the World. Among them, North America leads the market owing to a large number of health conscious people looking for nutritious alternatives for consumption. The U.S. and Canada are the two primary drivers of growth in the region. The TMR report uncovers that the region held a share of more than 39.6% in terms of value in 2014.

Prevalence of Non-communicable Diseases Stokes Market Growth

The demand for nutraceuticals is predicted to increase substantially in the near future because of the rising occurrence of non-communicable chronic ailments and the increasing healthcare expenditure. According to the lead analyst of the report, “Developing nations of Japan, China, and India demonstrate a comparatively greater prevalence of non-communicable diseases (NCDs), namely lung disorders, cancer, diabetes, and cardiovascular ailments. Hence, demand for nutraceuticals will be primarily driven by these nations. The increase in healthcare expenditure will also propel demand for nutraceuticals in developing nations.”

Demand for Milk and Meat Drives Market

Apart from that, another trend bolstering the global market is the high demand for milk and meat which has egged animal feed manufacturers across emerging economies to add nutraceuticals to animal feed. Increasing demand for a nutritional diet and natural beauty products in developed are also serving to bolster the market. People living in such developed nations have become aware these days about the side-effects associated with the most popular pharmaceuticals. Hence, they are supplanting synthetically produced food and food products with those derived from natural ingredients.

Countering the growth in the market, on the other hand, is the rising cost of nutraceuticals and the dearth of awareness about them.

This review is based on the findings of a TMR report, titled, “Nutraceuticals Market (Product Type – Functional Food (Probiotics Fortified Food, Omega Fatty Acid Fortified Food, Branded Ionized Salt, and Branded Wheat Flour Market); Functional Beverages (Fruit and Vegetable Juices and Drinks, Dairy and Dairy Alternative Drinks, and Noncarbonated Drinks); Dietary Supplements (Proteins and Peptides, Vitamins and Minerals, and Herbals); and Personal Care and Pharmaceutical) - 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 Segment

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

Personal Care and Pharmaceutical

Global Nutraceuticals Market: Heavy Outlay on Healthcare and Mushrooming Demand for Functional Foods to Hold the Torch, says TMR

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

Demand for Nutraceuticals Expected to Rise as Consumers Show Growing Inclination toward Natural Ingredients, Says TMR

Global Nutraceuticals Market: Snapshot

The increasing consumer spending on functional food and beverages has been presenting lucrative prospects for the global nutraceuticals market. Consumers, especially those across developed nations, are currently exploring healthier lifestyle choices to curb the incidence of chronic and lifestyle diseases. Such trends have bolstered demand for dietary supplement not only as means to boost physical performance but also disease prevention option. Spurred by such factors, Transparency Market Research (TMR) projects the global nutraceuticals market to rise at a CAGR of 7.3% between 2015 and 2021.

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Besides growth witnessed across developed regions, the market is also poised to see attractive opportunities in Asia Pacific. The robust healthcare development demonstrated across emerging economies of the region and increasing disposable income of people will accelerate the nutraceuticals market in Asia Pacific.

As per TMR, the global nutraceuticals market stood at US$165.62 bn in 2014. Rising at a CAGR of 7.3% from 2015 to 2021, the market is expected to reach US$278.96 bn, by the end of 2021.

Demand for Functional Food to Surge Considerably due to Rising Interest in Healthier Lifestyle

On the basis of revenue, functional food emerged as the largest product segment in the global nutraceuticals market. It held a share of over 31% in the market in 2014. In the last couple of years, the demand for functional food products such as branded wheat flour, fortified food, probiotics, omega fatty acid fortified food, branded ionized salt, and others has surged considerably. The rising interest among people to achieve wellness through diet, the increasing aging population, and the skyrocketing healthcare costs have fuelling demand from the functional food segment.

Besides this, TMR expects the producers of functional beverages to witness attractive opportunities as well. Demand for functional beverages is expected to be significantly high in countries across Asia as they prefer dairy-based beverages more. As per TMR, over the next few years demand from the dietary supplements segment is also expected to increase considerably.

Rising Health Consciousness among Consumers Boosts Demand for Nutraceuticals in North America

Regionally, North America dominated the global nutraceuticals market in 2014 with a share of over 39.6% in terms of value. As people in North America become more health conscious, the demand for nutraceuticals from the region is expected to increase in response. The regional market is also expected to gain from the persistently rising demand in Canada and the U.S.

Asia Pacific, in the same year, emerged as the second-largest market for nutraceuticals. The rising demand for functional food and dietary supplement from emerging economies of Asia Pacific will accelerate sales of nutraceuticals in the region. The rising preference for health drinks among athletes and sports person as these drinks help them gain edge in sports, losing weight, and staying healthy will also augur well for the nutraceuticals market in Asia Pacific.

Furthermore, consumers in India are increasingly opting for nutraceuticals in place of their synthetic alternatives for the treatment of chronic ailments. These developments will give significant impetus to the nutraceuticals market in Asia Pacific.

Some of the companies operating in the global nutraceuticals market are Royal DSM N.V., Archer Daniels Midland Company, BASF SE, Cargill, Incorporated, Groupe Danone S.A., E. I. du Pont de Nemours, Nestle S.A., and Company, and General Mills, Inc.

Global Nutraceuticals Market Nourished by Rising Disposable Incomes

A portmanteau of the words “nutrient” and “pharmaceuticals”, nutraceuticals represent a broad group of products that are designed to provide consumers with health benefits in addition to their regular diet. Most nutraceuticals are derived from food sources. Theoretically, nutraceuticals can be regarded as biological therapies that are non-specific and are used to promote a consumer’s well-being. They are also used to prevent the occurrence of harmful processes in the body as well as controlling various illnesses.

The global nutraceuticals market is progressing at a CAGR of 7.3% from 2015 to 2021. The market will be valued at US$278.96 bn by 2021, after being exposed to the current driving factors and rising from a recorded value of US$165.62 bn in 2014. The optimistic CAGR itself shows that the market is destined to thrive owing to quite a few market characteristics and consumer trends.

Growing Interest and Disposable Incomes Boost Global Nutraceuticals Market

The global nutraceuticals market has always gathered a decent amount of interest from consumers. The idea of taking supplements to fulfill one’s dietary requirements is more than attractive and the fact that has been complementing this interest is the improvement of economies. The increasing number of consumers that can afford daily sustenance and dietary supplements is the key driver of the global nutraceuticals market. Modern consumers are more aware of maintaining healthier dietary habits, know more about the same, and can afford them as well, thus leaving more scope for nutritional products. Most consumers in the global nutraceuticals market use nutraceuticals for more than merely meeting daily dietary requirements; consumers also take nutritional products to increase their immunity against diseases, helping the global nutraceuticals market find an advantage in the disease prevention agenda.

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Moreover, consumers are showing a growing preference towards organic foods and nutritional products that are derived from non-genetically modified extracts. The shift from chemical to organic will vastly benefit the global nutraceuticals market, which can promote healthy living by promoting organic nutritional products.

Developing Economies Boost Asia Pacific Nutraceuticals Market

North America dominated the global nutraceuticals market in 2014, when it held a share of 39.60%. From the global perspective, the North America nutraceuticals market imparted the global nutraceuticals market the highest revenue in 2014, primarily because the region, especially the U.S., had the highest level of consumer awareness about nutraceuticals. Meanwhile, Asia Pacific, home to India and China, two of the most rapidly developing economies in the world today, is set to witness a significant growth spike in the nutraceuticals market. The Asia Pacific region in particular is expected to see a high growth rate in the minerals, vitamins, and herbal products segments of the global nutraceuticals market.

The largest segment of the global nutraceuticals market in terms of revenue in 2014 was functional foods, while functional beverages were the second largest segment of the market.The top five players in the global nutraceuticals market hold the majority share in it. Key players in the global nutraceuticals market are General Mills, Inc., E.I. du Pont de Nemours and Company, Groupe Danone S.A., Nestle S.A., BASF S.A., Royal DSM N.V., Archer Daniels Midland Company, and Cargill, Inc.

Increased Consumer Health Awareness Benefits Global Nutraceuticals Market

The extra health benefits provided by the nutraceuticals in addition to the basic nutritional value is giving a push to the global nutraceuticals market. The broad term ranges from isolated nutrients, herbal products and processed foods and beverages, and dietary supplements to specific diets.

They can be considered non-specific biological therapies to provide physiological benefits, ailments to the consumers and relief from numerous chronic diseases. Due to all the aforementioned benefits, a steady growth has been witnessed during past few years and the trend is expected to continue because of an increase in consumer spending habits on nutritious and healthy functional food worldwide.

Changing Lifestyles in Developed Countries Fuel the Demand for Nutraceuticals

A rise in the demand for nutraceuticals is propelled by the increasing awareness for nutritional diet in the developed countries. The U.S.A and Canada, cumulatively, lead the market in 2014 and is anticipated to grow steadily. In Europe, developed countries such as Germany, France, and the U.K have emerged as the key nutraceutical market. Factors such as rising health concerns, and increasing consumer awareness to avoid consuming on synthetic drugs and lead a healthy life are the major contributors to the growth of this market.

Highest Growth Rate in Global Nutraceutical Market Makes APAC Full of Opportunities

While, developed countries are major contributors to the global nutraceutical market, developing countries in the APAC region such as India and China have witnessed growth in the affluent middle-class population, who are shifting towards awareness for nutritional diet. Factors such as the change in lifestyles and increase in income level have enabled them to buy dietary supplements, functional foods, and health drinks. APAC comes second in terms of market share and fastest in terms of growth rate.

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Nutraceuticals Become Alternative to OTC Drugs and Prescription

The extra health benefits offered by nutraceuticals act as an immunity booster. This quality of the nutraceuticals, per se, help in fighting many acute diseases. The herbal products in the range of nutraceuticals act as a replacement to the OTC Drugs. Nutraceutical ingredients include probiotics and prebiotics, Omega 3, amino acids, fibers, minerals, proteins, structured lipids, vitamins, and various other ingredients. These ingredients help in increasing the metabolism rate, which reduces the necessity of medicine intake.

Global Nutraceuticals Market to Expand at 7.3% CAGR from 2015 to 2021 due to Increasing Health Consciousness Among Consumers

Transparency Market Research (TMR) has announced the addition of a new market study on the nutraceuticals market. The report analyzes the drivers and restraints of the market. The report is titled “Nutraceuticals Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2015 - 2021.” As per the findings in the report, the market, which was valued at US$182.60 bn in 2015, will rise to US$278.96 bn by 2021, exhibiting a CAGR of 7.3% from 2015 through 2021. An increase in the prevalence of non-communicable chronic diseases and rising healthcare expenditure are expected to drive the global nutraceuticals market.

Nutraceuticals are products that offer health and nutrition benefits over and above the basic nutrition value present in food items. Nutraceuticals range from dietary supplements, isolated nutrients, and herbal products to processed foods and beverages. Nutraceuticals offer lucrative margins to food and beverages company and also have minimal regulatory requirements involved. Thus, an increasing number of companies are entering the nutraceuticals market.

Increasing health consciousness among consumers is driving the global nutraceuticals market. The increasing consumer awareness about the basic nutrition value present in food and growing preference for nutritious products are driving the global nutraceuticals market. The use of nutraceuticals products as a physical performance booster is expected to benefit the market. Moreover, nutraceuticals products are perceived to contain nutrients that will prevent diseases, which is propelling the nutraceuticals market. The use of nutraceuticals as an alternative to prescription and OTC drugs will further drive the market towards growth.

Yet, the global nutraceuticals market is expected to be hampered by rising prices of nutraceuticals. A lack of awareness about nutraceuticals is also expected to restrain the market’s growth. However, technological advancements are expected to open doors of opportunities in the global nutraceuticals market. Additionally, the use of nutraceuticals across new application areas will also drive the market to a new high.

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The global nutraceuticals market is segmented on the basis of product and geography. On the basis of product, the global nutraceuticals market is segmented into functional food, functional beverages, dietary supplements, and personal care and pharmaceuticals. Of these, the functional food segment led in terms of revenue in 2014, representing a share of 31% in the global nutraceuticals market. The segment is expected to expand at a 7.1% CAGR from 2015 to 2021.

On the basis of region, the global nutraceuticals market is segmented into Europe, North America, Asia Pacific, and the Rest of the World. Of these, North America held the largest share in the market in 2014 and the demand for nutraceuticals is expected to remain steady in the future, due to high demand from the U.S. and Canada.

The report profiles key companies operating in the global nutraceuticals market for the purpose of study. The companies included are: BASF SE, Archer Daniels Midland Company, Groupe Danone S.A., Cargill, Incorporated, Aland (Jiangsu) Nutraceutical Co., Ltd. The challenges faced by these companies and the strategies adopted by them to grow in the market have been included in the report.

The market has been segmented as follows:

Product

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

Geography

North America

• U.S.
• Canada
• Mexico

Europe

• U.K.
• France
• Germany
• Rest of Europe

Asia-Pacific

• China
• Japan
• India
• Rest of Asia-Pacific

Rest of the World (RoW)

• Latin America
• Middle East
• Africa

Nutraceuticals Market Will Increase Strongly Through 2021

Global nutraceuticals market is valued at USD 182.60 billion in 2015 and is expected to reach USD 278.96 billion by 2021, growing at a CAGR of 7.3% from 2015 to 2021. The major reasons for the success of the nutraceuticals market is the increasing consumer spending and consumer’s positive perception towards nutritious and healthy functional food; beverages; dietary supplements; and personal care and pharmaceutical products across the globe.. Rising demand for nutraceuticals is due to growth in the dietary supplement segment. However, functional food, beverages and personal care products are also significant segments of the nutraceuticals market. Furthermore, consumers are health-conscious and better informed on nutrition-enabled products. Dietary supplements are not only consumed to meet suggested daily intake of nutrients, but also as a disease preventive option and physical performance booster. All the above mentioned factors are expected to fuel the growth of this market globally.

Nutraceuticals market is expected to experience steady growth over the forecast period. Growing demand for dietary supplements in order to improve and maintain the body’s ability and immunity is fueling the growth of this market worldwide. In developing countries such as India and China, the growing affluent middle class population is shifting towards certain lifestyle changes, which enable them to buy functional foods, beverages, and dietary supplements. Furthermore, factors such as high income levels of consumers, greater awareness and widespread preference for specialty nutritional and herbal products are fueling the growth of the nutraceuticals market. In addition, current trends of promoting preventive medicine and self-treatment are primarily contributing to the growth of this market globally.

In the report, the nutraceuticals market is segmented into by product types and by geography. Based on product type, the market is segmented into functional food; functional beverages; dietary supplements; and personal care and pharmaceutical products. Functional food is further sub-segmented into probiotics fortified food; branded ionized salt; omega fatty acid fortified food; and branded wheat flour among others. In addition to this, functional beverages are sub segmented into fruit and vegetable juices and drinks; dairy and dairy alternative drinks; noncarbonated drinks such as bottled water, tea and coffee among others including herbal tea, sports drinks and energy drinks. Furthermore, dietary supplements segment is bifurcated into proteins and peptides; vitamins and minerals; herbals such as ayurvedic extracts, plant extracts, algal extracts and phytochemicals among others.

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The nutraceuticals market has seen diversified trends across different regions including North America, Europe, Asia Pacific and Rest of the World (RoW). Geographically, North America held the largest market share in 2014 and is expected to grow steadily due to growing demand from leading markets such as the U.S. and Canada. Asia Pacific held the second largest market share in 2014. Germany and France have emerged as the key nutraceuticals market in Europe, while the U.K. and Spain have emerged as the key test markets for new products. In the European market, health conscious consumers prefer to consume healthy functional food, beverages and dietary supplements. These nutraceutical products are gaining popularity among the consumers as it provides energy, promote healthy teeth and strong bones, boost the immune system, prevent digestive health issues, and lower cholesterol. However, in spite of all these driving factors behind the growth of the nutraceuticals market, lack of awareness about the benefits of nutraceuticals and increasing nutraceutical product prices are hindering the growth of this market.

Nutraceuticals market is dominated by key players such as 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, and General Mills, Inc. among others.