Nutraceuticals Market size is set to grow by USD 223.56 bn from 2023-2027,increasing cost of medical treatment to boost the market- Technavio

NEW YORK, March 14, 2024 /PRNewswire/ -- The global nutraceuticals market size is estimated to grow by USD 223.56 bn from 2023 to 2027, according to Technavio. The market is estimated to grow at a CAGR of almost 8.46% during the forecast period. The nutraceutical industry is marked by the convergence of markets, producers, and consumers, each playing a crucial role in its growth. Producers, including companies and manufacturers, formulate and produce nutraceutical products, while consumers seek out these beneficial supplements for their health benefits. Markets, such as retail and e-commerce platforms, facilitate the exchange of these products between producers and consumers. Consumers' demands for natural and effective nutraceuticals drive innovation and production, making them a significant driving force in the industry. Additionally, the convenience of online purchasing and the increasing awareness of health and wellness have further fueled the market's growth. Overall, the interplay between markets, producers, and consumers is essential to the success and expansion of the nutraceutical industry.

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 Market Segmentation

This report breaks down the global Nutraceuticals Market by segment.list, providing an overview and analyzing market trends. It uses data from 2022 to estimate market figures for 2023 to end-year, offering essential insights into the current size and future growth of the market. Additionally, the report covers market characteristics, major companies, user preferences, and geographic opportunities. Regions covered include North America, Europe, Asia-Pacific, and RoW (South America, the Middle East, and Africa).
Historical (2017 - 2021) and forecasts from (2023-2027) are provided for each segment, based on the regions.View Sample Report

Market Segmentation by Product- The nutraceuticals market encompasses dietary supplements, including vitamins, minerals, botanicals, enzymes, and other dietary supplement types. Functional foods, rich in fatty acids, proteins, and various health-promoting components, dominate this sector. Vendors fortify foods with nutrients like omega-3 fatty acids and folic acid for enhanced health benefits. Distribution channels include specialty stores, supermarkets/hypermarkets, convenience stores, drug stores/pharmacies, and online retailers, among others.

Geographic Landscape

The nutraceuticals market in North America, spearheaded by the US, experiences robust growth due to urbanization, high consumer disposable income, and an increasing number of demand for nutraceutical products. Smart marketing claims, such as "antioxidant-rich" or "probiotic-infused," attract health-conscious consumers seeking clinical validation for nutraceuticals addressing various health issues. These include obesity, cardiovascular disease, cancer, cholesterol, arthritis, and diabetes. Nutraceuticals encompassing antioxidants, probiotics, and polyunsaturated fatty acids are popular choices for personalized nutrition solutions. Vendors invest heavily to produce nutrient-dense foods, beverages, and supplements, ensuring the best products cater to diverse consumer needs.

This report presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources through an analysis of key parameters.View Sample Report

Key Company

Nutraceuticals Market  is fragmented ; the companies are competing with competitors and are trying to get greater market share. The market is growing, and the chances of new entrants cannot be overlooked. The major companies have well-established economies of scale and market presence and generally rely on positioning technological advances, and the price of the products. Nutraceuticals Market report includes information on the product launches, sustainability, and prospects of leading vendors including Abbott Laboratories, Advanced Orthomolecular Research Inc., Amway Corp., Archer Daniels Midland Co., BASF SE, Bayer AG, Better Being Corp., Cargill Inc., COSUCRA, Danone SA, General Mills Inc., Herbalife International of America Inc., Innutrigel AG, International Flavors and Fragrances Inc., LKK Health Products Group, Nestle SA, PepsiCo Inc., Pfizer Inc., RBK NUTRACEUTICALS Pty Ltd., The Coca Cola Co.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product Type
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Company Landscape
12 Company Analysis
13 Appendix

About US

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio

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