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 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

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.

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)

Nutraceuticals Market will Rebound Through 2021

The global market for nutraceuticals has exhibited a steady rise in recent years, thanks to the increasing demand for nutritional food in the global arena. The rise in the cost associated with medical treatment and healthcare has driven the interest of consumers towards nutraceuticals, owing to their ability to act as a substitute of OTC as well as prescription drugs.

A recent report published by Transparency Market Research (TMR), a market research and intelligence firm, states that the worldwide nutraceuticals market reached a value of US$182.6 bn in 2015. Analysts at TMR estimate this market to expand at a CAGR of 7.30% during the period from 2015 to 2021 and arrive at a value of US$278.9 bn by the end of 2021.

Mexico Poised to Become Fastest Growing North American Nutraceuticals Market

North America has been leading the global nutraceuticals market for a decade now. The increased awareness pertaining to healthcare among consumers has been driving this regional market significantly.

The U.S. and Canada are the key domestic markets for nutraceuticals in North America, whereas the Mexico market is still in its nascent stage. However, analysts project the Mexico nutraceuticals market to gain impetus and become the fastest growing market in the region in the coming years. The increasing purchasing power of Mexicans is expected to become the key catalyst for this growth.

Major Manufacturers Targeting Japan, China, Brazil, and Australia

The nutraceuticals market in Asia Pacific follows the North America nutraceuticals market closely. The upgradation in the living standard of this region’s population has led to the rise of the Asia Pacific nutraceuticals market.

Japan, China, Brazil, and Australia have emerged as the key target markets for major international producers of nutraceuticals, resulting in the emergence of these markets as the most lucrative ones in this region as well as across the world.

Proactive Lifestyle to Drive Demand for Nutraceuticals in Middle East and Africa

The Middle East and Africa nutraceuticals market has also been showing impressive growth of late. GCC countries dominate this market and are likely to rise at the fastest rate in the forecast period. The increase in the geriatric population has propelled the demand for nutraceuticals in this region. Experts project the proactive lifestyle increasingly adopted by people in the MEA to drive the demand for nutraceuticals in this region over the next few years.

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Nestle Ltd., Cargill Inc., Archer Daniels Midland Co., Aland Nutraceutical Co., Royal DSM, BASF, Coca-Cola co., General Mills Inc., PepsiCo, DuPont, Cadbury, and Danone are the key players operating in the global market for nutraceuticals.

Other prominent participants in this market are General Nutrition Center Corp., Alpro U.K. Ltd., Danisco A/S, Johnson & Johnson, Herbalife Int. Inc., Clif Bar & Co, So Good Int., Kraft, Nutraceutical Int. Corp., Lonza Group Ltd., Biogaia, Boehringer Ingelheim, Dairy Crest Group, Galenica Ltd., Bayer Healthcare, Kellogg Co., and Yeo Valley Farms.

Solutions in Sight for Global Nutraceuticals Market Battling with Regulatory and Consumer Confidence Issues

In February 2015, the nutraceuticals industry came in the crosshairs of Eric Schneiderman, New York Attorney General, as he launched an investigation into the efficacy and safety of herbal dietary supplements. Since then, several media reports have warned that nutraceuticals could do more harm than good – reports that stakeholders in this industry have criticized for being poorly researched. Consumers, on their part, have become slightly wary of impulsively adding nutraceuticals to their shopping carts, with consumer groups demanding more ‘clean label’ nutraceutical products.

It will take more than signature markers such as ‘organic’ and ‘natural’ for companies in the nutraceuticals industry to contend with the challenges that have cropped up on the regulatory front and have been compounded by a slew of negative media reports. The global nutraceuticals market is currently at a critical phase and the stance it adopts in the coming year will determine much of its future success, industry experts have opined. The long-term growth prospects of the global nutraceuticals market, however, look promising. Business intelligence firm Transparency Market Research, for instance, has said that the nutraceuticals market will have a valuation of US$278.96 bn by 2021. The market will reach this value with a projected CAGR of 7.3% from 2015 to 2021.

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Even as the industry as a whole grapples with several regulatory and consumer-confidence issues, there are solutions in sight. Here are two opportunities that can be found in the current scenario:

Launching more natural products that align with consumers’ wellness goals: With the focusing now increasingly being on classifying what constitutes a ‘natural’ ingredient, nutraceutical makers can build consumer confidence by getting their products or key ingredients certified by reputable organizations. DNA barcode identification is expected to gain importance, especially when it comes to extracted botanical ingredients. Companies can seize this opportunity as a means to gain the trust of both consumers and regulators. In the coming years, positioning products as miracle cures for diseases and conditions would likely cause damage to the identity of nutraceutical brands. Hence, launching products that are more in line with consumers’ wellness goals with more realistic promises is the need of the hour.

Creating better integrity in the supply chain: Both functional foods and nutraceuticals need robust supply chains that can adapt to the frequent changes in regulatory mandates, ingredient stability, consumer demand, and technologies. Currently, the nutraceuticals supply chain is also bound by government regulations, with regulations in each country having a different degree of maturity. In several countries, the supply chain regulations that govern the nutraceuticals industry are not as stringent as that for the pharmaceutical sector. However, the safety and integrity of ingredients remains paramount to the nutraceuticals supply chain as well. In view of this, developing suppleness in supply chain management would be integral to success.

While North America is currently the largest regional market for nutraceuticals, Asia Pacific is seen to be a very lucrative space too. Countries such as India and China, with their massive population base, are proving to be multibillion-dollar nutraceutical markets.

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