At a CAGR of 7.1%, Nutraceutical Products Market is Estimated to Surpass USD 563.98 Billion By 2030 | Reports and Data

According to the current analysis of Reports and Data, the global nutraceutical products market was USD 303.70 Billion in 2021 and is projected to grow at a CAGR of 7.1% from 2021 to 2030. A variety of terms have appeared worldwide, such as nutraceuticals, medifoods, vitafoods, functional foods, and the more traditional dietary supplements and fortified foods. However, the term functional foods have become the predominant one even though several organizations have attempted to differentiate this emerging food category. Nutraceutical products are considered as the food or a part of food that delivers nutritional value to the diet. It is also called as a functional food that contains standardized nutrient and pharmaceutical-grade. These supplements act as source for a dietary supplement to the body through diet & works to prevent diseases. With cumulative educational level, people are becoming ready to accept diverse types of food & beverages that have added nutritional supplements. Hence with this change, nutraceutical products are gaining a traction across the world.

Globally, nutraceutical products are gaining importance and are becoming a part of the consumer’s daily diet. The primary reasons for this change have been the increasing prevalence of lifestyle diseases and people consciously taking preventive healthcare measures. Growing the utilization of functional food and beverages by the baby boomer population is expected to augment nutraceutical products market growth over the forecast period. Much of the technological progress in the field of nutraceutical producers will require patience, deep pockets, and a willingness to place risky bets. Nutraceutical products manufacturing companies will need to achieve genuine breakthroughs to tackle a wide range of conditions. Nutraceutical products are likely to benefit from the trend of personalized medicine; therefore, using and creating technology which aids this movement will be a crucial factor.

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Further key findings from the report suggest

• By product type, functional foods hold an outstanding share of 47.5% in 2018. The snowballing trend of on-the-go snacking and the increasing demand for nutritional food supplements are factors predictable to impel the demand for snacks products containing functional nutraceuticals.
• A complex range of regulations applies to nutraceuticals in the EU, depending on the product type. These are mainly overseen by the European Food Safety Authority (EFSA), which also evaluates claims and has a public Register of Nutrition and Health Claims. The EFSA also sets maximum and minimum levels of ingredients to be added to supplements. Between 2008 and 2011 the EFSA evaluated 2,758 food-related general health claims to see if they were supported by scientific evidence. Only around 10 percent of the claims could be substantiated.
• Major vendors in the global nutraceutical products market are Kraft Heinz Company (US), The Hain Celestial Group (US), Conagra (US), General Mills (US), Kellogg’s (US), Nestlé (Switzerland), Nature’s Bounty (US), Amway (US), Pfizer Inc. (US), and Freedom Food Group Limited (Australia). are some of the major players in nutraceuticals market. In April 2019, the Nestlé Health Science entered into a strategic partnership with Amazentis (Switzerland); this would create growth opportunities for Nestlé in the consumer healthcare and medical nutrition segments.

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Market Segmentation:

The report is written with the aid of industry analysts, market segmentation, and data collection in order to assist readers in making profitable business decisions. The report includes a comprehensive database of technical and product advances. It also provides information on growth rates and market value, as well as a thorough examination of niche market segments. The report provides strategic advice to newcomers and existing businesses about how to make profitable and well-informed business decisions.

The global Nutraceutical Products market is segmented into:

Type Outlook (Revenue, USD Billion; 2019-2030)

• • Food
    • Snacks
    • Bakery and Confectionery
    • Infant Products
    • Dairy Products
  • Beverage
    • Health Drinks and Fortified Juices
    • Energy Drinks
    • Functional Juices
  • Dietary Supplements
    • Vitamins
    • Minerals
    • Omega Fatty Acids
    • Botanicals
    • Proteins and Amino Acids
    • Fibers and Specialty Carbohydrates
    • Others

Distribution Channel Outlook (Revenue, USD Billion; 2019-2030)

• • Hypermarkets or Supermarkets
  • Convenience Stores
  • Online Stores
  • Pharmacy

To read more about the report: https://www.reportsanddata.com/report-detail/nutraceutical-products-market 

Regional Outlook:

• North America (U.S.A., Canada, Mexico)
• Europe (Italy, U.K., Germany, France, Rest of Europe)
• Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
• Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
• Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Some key Questions of the Nutraceutical Products Market include:

• What factors are expected to drive revenue growth of the Nutraceutical Products market?
• What factors are expected to hinder revenue growth of the Nutraceutical Products market?
• Which was the leading segment in the global Nutraceutical Products market on the basis of Type?
• Which was the leading segment in the global Nutraceutical Products market on the basis of application?
• Which market is expected to account for largest market share in the Nutraceutical Products market?

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