Global Nutraceuticals Market Outlook, 2027

Global Nutraceuticals Market Outlook, 2027

Bonafide Research 27-06-2022 212 Pages Figures : 138 Tables : 31
Region : Global Category : Food & Beverages Food

1. Monster Beverage Corporation

2. Nestle SA

3. General mills Inc.

4. Tyson Foods, Inc.

5. Arla Food


Nutraceuticals, also called bioceuticals, are a drug category that claims various physiological benefits. Nutraceutic is a term derived from "nutrition" and "pharmaceuticals". It is a broad umbrella term that is used to describe any product delivered from food sources with extra health benefits in addition to the basic nutritional values. Basically, they are food or parts of food that play a significant role in maintaining well-being, enhancing health, modulating immunity and preventing as well as treating chronic diseases. In addition to that, nutraceuticals may be used to delay the ageing process, increase life expectancy, and support the structure or function of the human body. Based on these physiological benefits, the majority of consumers across the globe are adopting these alternative products. Typically, nutraceutical products are isolated from food and subsequently sold in medicinal form. There is a high and increasing global prevalence of nutraceutical use across the globe. Today, these products are attracting considerable interest due to the kinds of nutritional, safety, and therapeutic effects that they offer.

According to the research report titled "Global Nutraceuticals Market Outlook, 2027", published by Bonafide Research, the market size was more than $400 billion in 2021. Consumer awareness regarding botanical products and functional foods has been on the rise over the last few years. Many consumers are avoiding chemical ingredients in their food by adopting health foods, functional foods, proteins, and nutraceutical products. This demand is mainly increasing in developed regions of North America and Europe as consumers in these regions are spending more on natural products compared to other regions. The global nutraceutical market is segmented into five prominent regions, including North America, Europe, Asia-Pacific, South America, and the Middle East & Africa. Among these regions, over 35% of the market share is expected to be occupied by the Asia-Pacific region. The increasing health concerns among consumers and growing awareness regarding the benefits of nutraceuticals have propelled the market growth across the Asia-Pacific region. In addition to that, the growing trend of food fortification with these products is anticipated to gain significant market growth by 2027.

Based on the country segmentation, the US is anticipated to dominate the market during the forecast period. In the USA, the growth of nutraceutical products is mainly driven by the continuously growing demand for energy drinks, fortified dairy products, functional beverages, and dietary supplements. Some of the driving factors for the US nutraceutical market are the availability of scientific evidence, particularly the safety and effectiveness of the products. In addition to that, a key trend which is projected to affect the US nutraceutical market in the coming year is the increasing spectrum of nutraceuticals in sports nutrition.

According to the report, the global nutraceutical market is segmented into three product types, including dietary supplements, functional beverages, and functional foods. Among these types, the functional food segment is leading the market. Functional foods are the most commonly consumed types of nutraceutical products across the globe, while the functional beverages segment is expected to grow at the highest growth rate during the forecast period. Further, the dietary supplement segment is sub-segmented into various types, including vitamins, minerals, botanicals, amino acids, proteins, probiotics, and others. Among these types, the vitamin segment is expected to occupy the largest portion of the market. Based on the functional beverage types, the market is segmented into energy drinks, sports drinks, fortified drinks, and dairy and dairy alternative beverages. Among these types, the energy drink segment is highly consumed compared to other beverage types. However, growing adoption of dairy products is expected to change the scenario in the upcoming timeframe.

Further, the functional food segment is further categorized into bakery & cereals, dairy products, meat, fish & eggs, soy products, and fats & oils. Among these types, the dairy products segment is gaining more traction across the globe, followed by the bakery and cereals segment. The increasing ratio of the global population and the increasing birth rate direct the market towards increasing adoption of these segments. Based on distribution channel, the global nutraceutical market is segmented into supermarkets/hypermarkets, convenience stores, drug & pharmacies, online retail stores, and specialty stores, etc. Among these types, the supermarkets and hypermarkets segment is expected to dominate the market by 2027. However, higher penetration of enhanced technology directs the market's growth towards online retail stores. This segment is expected to grow with a significant CAGR for the years 2022–2027.

COVID-19 Impact:
The pandemic has heavily and positively affected the markets across the globe. There have been reports of a massive increase in demand for products that claim to enhance health and immunity during this timeframe. The high adoption of these types of products greatly contributes to the high adoption of functional foods and dietary supplements in daily life to support the immune system. The industry’s growth is primarily driven by augmented consumer awareness about the benefits of health supplement consumption, growing consciousness about preventive healthcare measures, and a rising population of affluent and health-conscious consumers.

Major Companies present in the market:
Herbalife Nutrition, AMWAY Corp., Bayer AG, Pfizer Inc., GlaxoSmithKline plc., Abbott Laboratories, Glanbia plc, Archer Daniels Midland Company, Nu Skin Enterprises, Inc., Nestle SA, Danone SA, General Mills Inc., Tyson Foods, Monster Beverage Corporation, The Coca-Cola Company, Arla Foods amba, Hearthside Food Solutions LLC, PepsiCo Inc., Celsius Holdings Inc., Nutri-Nation Functional Foods Inc

Considered in this report
• Geography: Global
• Historic Year: 2016
• Base year: 2021
• Estimated year: 2022
• Forecast year: 2027

Aspects covered in this report
• Global nutraceuticals market with its value and forecast along with its segments
• Region & country wise nutraceuticals market analysis
• Application wise nutraceuticals market distribution
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

Regions covered in the report
• North America (US, Canada, Mexico)
• Europe (Germany, UK, France, Italy, Spain, Russia)
• Asia-Pacific (China, Japan, India, Australia, South Korea)
• Latin America (Brazil, Argentina, Colombia)
• Middle-East & Africa (UAE, Saudi Arabia, South Africa)

Based on product type of nutraceuticals market in the report:
• Dietary Supplements (Vitamin, Minerals, Herbal Supplements, Probiotic, Amino acid/Protein& Others)
• Functional Foods (Bakery & Cereals, Dairy Products, Meat, Fish & Eggs, Soy Products,Fats & Oils & Others)
• Functional Beverages (Energy Drinks, Sports Drinks, Dairy & Dairy Alternative Drinks, Fortified Juices & Others)

Based on Distribution channel type of nutraceuticals in the report:
• Supermarkets & Hypermarkets
• Convenience Stores
• Drug and Pharmacies
• Online Retail Stores
• Other Distribution Channels

The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual report of companies, analyzing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources.

Intended audience
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to food & beverage industry, nutrition industry, pharmaceutical industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.

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