Nutraceuticals Market: Information By Source (Plant, Animal and Microbial), By Type (Vitamins & Minerals, Probiotics, Proteins & Peptides, Omega Fatty Acids and Others), By Form (Capsules, Tablets, & Softgels, Powder and Liquid & Gummies), By Distribution Channel (Store-Based [Supermarkets & Hypermarkets, Specialty Stores and others] and Non-Store-Based) - Forecast 2027
|ID: VPR/F&B/1162||Publishing Year: January 2022||Pages: 112||Format:|
Nutraceuticals Market Overview:
The expansion of dietary supplements is projected to be boosted by a positive attitude on medical nutrition, given the rising use for the treatment of cardiovascular problems and malnutrition. Rising healthcare costs, combined with the world's growing senior population, are expected to boost the worldwide functional food industry's growth over the projection period.
In recent years, rising consumer interest in a healthy diet has resulted in a robust food and beverage business, which is likely to continue over the forecast period. Functional foods are in high demand because of their nutrient content, which is thought to provide remarkable health advantages. The market for Nutraceuticals Market is likely to develop as a result of this.
- Perrigo Company plc (Ireland)
- Glanbia Plc (Ireland)
- Danone SA (US)
- GlaxoSmithKline plc (UK)
- Abbott Laboratories (US)
- Daflorn Ltd (Bulgaria)
- Bactolac Pharmaceutical Inc (US)
Foods or substances containing Nutraceuticals have health and medicinal benefits. Because of their numerous benefits, Nutraceuticals can be used in the personal care industry. The combination of Nutraceuticals and personal care is referred to as "cosmeceutical" due to its anti-aging properties. Natural herbs and antioxidants are examples of Nutraceutical components that protect the skin from a variety of diseases and infections. As a result, the demand for Nutraceutical components in personal care products is steadily rising. Every year, a large number of people die as a result of heart disease. In Ukraine, for example, roughly 896 persons per 100,000 died in 2014. The most effective Nutraceutical kind against heart artery hardening is omega-3 fatty acid. As a result, the market is driven by an increase in demand for Nutraceuticals in the dietary supplement industry. Many wealthy countries, like as the United States and Norway, have pushed the Nutraceuticals Business forward by investing heavily on healthcare.
The cost of producing raw ingredients for Nutraceuticals Products has risen significantly, limiting consumers' access to such benefits. Because there is a scarcity of high-quality Nutraceuticals, demand outnumbers supply. Furthermore, the lab-to-market pipeline for such products is typically lengthy. This is one of the major contributors to production costs. As a result, the market is projected to be constrained by high R&D costs.
Food, drinks, personal care, animal nutrition, and dietary supplement are the application segments of the Nutraceutical Ingredients Industry. During the projection period, the dietary supplement segment is expected to be the fastest-growing by application. Dietary supplements have a variety of health benefits, including improved gut microflora balance, improved intestinal functions like bulking and regularity, increased calcium absorption & improved bone density, improved immune function, reduced toxins that can cause fatty liver and other diseases, reduced risk of cardiovascular diseases, and control of diabetes.
Due to rising health concerns among consumers and increased knowledge of nutraceuticals, Asia Pacific has emerged as a significant area in the nutraceuticals market in 2019. Furthermore, the Nutraceutical Industry's rise in Asia Pacific has been aided by the ageing population, changing healthcare expenditure patterns, and changing lifestyles. The nutraceuticals industry's growth is being stifled by a large product portfolio and government regulations on Nutraceutical Products. However, the Nutraceuticals Business is expected to benefit from the expanding trend of food fortification using Nutraceutical Products.
Growing Nutritional enrichment awareness in China and India is projected to be a positive driver for the nutraceuticals industry's growth. Furthermore, the rise of the retail market in countries such as China, Indonesia, Malaysia, and India, as a result of regulatory support to encourage investments, is likely to enhance buyer accessibility throughout the forecast period, propelling the nutraceutical market.
The COVID-19 outbreak is expected to have a beneficial influence on the market. During the COVID era, the increased need to improve immunity is predicted to drive up demand for Nutraceuticals goods. The growing number of COVID-19 cases around the world is expected to boost the market, bolstering the Nutraceutical Business.
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