Global Nutraceuticals Market to Reach $441.7 Billion by 2026

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Mar 01, 2022, 10:05 ET

SAN FRANCISCO, March 1, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Nutraceuticals - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

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Edition: 18; Released: February 2022
Executive Pool: 24696
Companies: 283 - Players covered include Abbott Nutrition; Amway Corporation; ARKOPHARMA Laboratories; BASF SE; Bayer Healthcare AG; CytoSport, Inc.; Danone SA; Glanbia Nutritionals Limited; Glanbia Plc; GlaxoSmithKline Plc; Herbalife International, Inc.; Kirkman Group, Inc.; Mead Johnson Nutrition Company; Meiji Holdings Co., Ltd.; Natrol, LLC; Natural Products, Inc.; NestlÃ© S.A.; Nutraceutical Corporation; Otsuka Pharmaceutical Co., Ltd.; PepsiCo Inc.; PharmaviteÂ® LLC; Red Bull GmbH; Rockstar Inc.; Seven Seas Ltd.; Suntory Holdings Limited; The Coca-Cola Co.; The Nature`s Bounty Co.; Yakult Honsha Co., Ltd. and Others.
Coverage: All major geographies and key segments
Segments: Product Type (Functional Foods, Functional Beverages, Dietary Supplements); Distribution Channel (Supermarkets / Hypermarkets, Convenience Stores, Other Distribution Channels)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.

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ABSTRACT-

Global Nutraceuticals Market to Reach $441.7 Billion by 2026
Nutraceuticals is a broad term that includes dietary supplements, and functional foods and beverages offering health/medical benefits including the prevention and/or treatment of disease. A nutraceutical can also be defined as a food that impacts positively on an individual's health, physical performance or state of mind, in addition to its nutrition content. Thus a nutraceutical is a product with a functional ingredient that provides specific nutritional benefit. Amid the COVID-19 crisis, the global market for Nutraceuticals estimated at US$330.6 Billion in the year 2022, is projected to reach a revised size of US$441.7 Billion by 2026, growing at a CAGR of 7.8% over the analysis period. Functional Foods, one of the segments analyzed in the report, is projected to grow at a 7.8% CAGR to reach US$217.2 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Functional Beverages segment is readjusted to a revised 8.6% CAGR for the next 7-year period. This segment currently accounts for a 35.2% share of the global Nutraceuticals market.

The U.S. Market is Estimated at $112.6 Billion in 2022, While China is Forecast to Reach $52.5 Billion by 2026
The Nutraceuticals market in the U.S. is estimated at US$112.6 Billion in the year 2022. The country currently accounts for a 34.57% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$52.5 Billion in the year 2026 trailing a CAGR of 9.6% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 6.3% and 6.7% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 7.1% CAGR while Rest of European market (as defined in the study) will reach US$56.6 Billion by the close of the analysis period.

Nutraceuticals are garnering immense attention in recent years due to various trends including changing lifestyles, burgeoning middle-class segment across emerging economies, transforming dietary habits, aging population, and increased life expectancy. In addition, the focus of R&D based pharmaceutical sector on expensive specialty drugs is increasing the burden on the healthcare system as well as resulting in higher out-of-pocket costs for drugs driving the focus on prevention than intervention. The self-care trend across the world is driving strong demand for nutraceuticals including superfoods, food and dietary supplements, sports nutrition, and functional foods & beverages. Given the hectic lifestyles and the lack of time for consumption of the required nutrients through regular diet, the need for replenishing such essential nutrients is increasing. In this context, nutraceuticals are emerging to be the solution for meeting this requirement. Nutraceuticals are considered to be the vital link between health and food.

The market is also experiencing strong demand for personalized approaches to wellness that is driving product innovation in the areas of weight management, sports nutrition, and healthy snacking. Other noteworthy trends benefiting market prospects in the near term include emergence of clean labeling as a new norm owing to increasing focus of consumers on ingredient list on the product; innovative delivery technologies such as microencapsulation, which protects the product from adverse conditions such as light and air; steady proliferation of advanced dietary supplement technologies in their nanoparticle and nanodispersion versions; and the rising role of pharmaceutical players, with leading companies maintaining stake in functional food & beverage and dietary supplement brands aligning with their healthcare-consumer interests.

Dietary Supplements Segment to Reach $74.8 Billion by 2026
Dietary supplements are consumed for many reasons, including nutrition enhancement, to fill the deficit for nutrients missing in the regular diet, to improve resistance against diseases, and to enhance the energy and performance levels. In general, dietary supplements are used to maintain good health and ensure overall well-being. The market is mainly driven by scientific evidences proving supplements to be rich in certain nutrients with a reduced risk of particular diseases. Consumers find dietary supplements as alternatives to conventional medical therapies. In the global Dietary Supplements segment, USA, Canada, Japan, China and Europe will drive the 5.9% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$41.4 Billion will reach a projected size of US$62 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$7 Billion by the year 2026, while Latin America will expand at a 6.8% CAGR through the analysis period. More

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