Global Nutraceuticals Market Size (2024 to 2029)

As per our analysis report, the global Nutraceuticals Market is expected to reach USD 668.41 billion by 2029 from USD 448.64 billion in 2024, growing at a compound annual growth rate (CAGR) of 8.30% during the forecast timeline.

Market Drivers

The nutraceuticals market is driven by the growing need to address the complex needs of elderly people. Elderly people majorly suffer from chronic diseases and are at higher risk of nutrient deficiencies. According to the National Centre of Biotechnology Information, approximately 50 million deaths occur every year due to age-related issues across the world. It is estimated that 21% of the world population will be above the age of 60 years by the end of 2050. Intake of proper nutritional supplements can encourage people to live a happy and balanced life for longer years.  The launch of various food or beverage products with essential nutrients shall fuel the growth rate of the nutraceutical market in the coming years. Penetration of e-commerce, especially in developed and developing countries, is substantially enhancing the demand for high nutritional or dietary supplements, which levels up the market’s growth rate.

Nutraceuticals are also highly important in this modern world where people are suffering from stress, depression, and anxiety. Along with this, the growing number of non-communicable diseases is gearing up the need for nutritional supplements to overcome the challenges and maintain proper health. All these factors are attributed to boosting the market’s growth rate to an extent.

Market Restraints

However, the easy availability of local brand nutraceuticals does not meet the high standards of quality checks, which is hindering the growth rate of the market. The local brand supplements are made up of low-quality raw materials that pose many risk factors for the people who consume them regularly, which is specifically a challenging factor for the nutraceuticals market. In recent times, the supply chain of raw materials has been disrupted due to many factors that imply leveraging the cost of the final products. Thus, the rising cost of nutraceuticals can also slowly decline the growth rate of the market.

MARKET SEGMENTATION

Global Nutraceuticals Market By Type

• Prebiotics
• Probiotics
• Protein
• Amino Acid
• Vitamins Omega-3 Fatty Acids
• Fibers
• Carbohydrates
• Phytochemicals
• Plant Extracts

The Prebiotics segment is leading with the highest share of the nutraceuticals market. The rising number of people suffering from gastrointestinal tract-related issues around the world is ascribed to bolster the growth rate of this segment. Prebiotics have a specific role in altering the composition of the organisms in the gut microbiome. In general, whole grains, bananas, greens, onions, and soybeans, among others, are sources of prebiotics, which are added in making dietary supplements. Prebiotics and probiotics help in the management of good bacteria in the intestinal tract, which helps to lead a healthy lifestyle by avoiding many chronic illnesses.

Global Nutraceuticals Market By Form

• Dry
• Liquid

The dry segment is attributed to holding the prominent share, whereas the liquid segment is esteemed to have the highest growth rate in the market. Dry nutraceuticals have huge benefits in prompting the body to take in essential nutrients. Liquid nutraceuticals are becoming more popular these days due to their safe and easy way to improve one’s health and well-being. The liquid form supplements can be taken easily and more prior for the people who dislike taking supplements in tablet form.

REGIONAL ANALYSIS

North America is leading with the largest share of the nutraceuticals market. The presence of the top companies is attributed to leveraging the growth rate of the market in North America. Collaborations and the launch of different strategies by key players to expand their portfolio in a huge competitive world are sustainable to launch high-quality nutrient supplements. Also, the rising incidences of cardiovascular-related diseases and cancers among patients are surging the demand for the huge production of nutraceuticals. According to the Council for Responsible Nutrition, 74% of U.S. adults take dietary supplements daily.

Asia Pacific is deemed to hit the highest CAGR by the end of 2029. India and China are the major countries attributed to the surging of prominent opportunities in the nutraceuticals market. In these highly populated countries, the demand for dietary supplements has been aggressively increasing in the past few years. Rising awareness of the benefits of taking nutrition supplements to maintain healthy skin and reduce the risk of aging factors shall fuel the market’s growth rate. Improving healthcare infrastructure with proper facilities at affordable costs is anticipated to level up the growth rate of the market.

Europe's nutraceuticals market is expected to have a steady growth pace throughout the forecast period. Europeans do follow a strict diet and depend on supplements to maintain proper health. High support from government organizations through investments with stringent regulations to launch high-quality products in favor of the government is escalating the growth rate of the market.

Recent Market Developments

 In 2024, Cargill and Brenntag, a nutraceutical ingredients distributor, made an agreement to launch Cargill’s EpiCor postbiotic. The final product is a functional food that consists of proteins, vitamins, minerals, polyphenols, and antioxidants. Brenntag is capable of creating innovative nutraceutical ingredients and has now partnered with Cargill to deliver the best functional foods.

KEY MARKET PLAYERS

Companies playing a significant role in the global Nutraceuticals Market include Archer Daniels Midland Company, Cargill, Incorporated, Royal DSM N.V., BASF SE, Nestle S.A, Groupe Danone S.A., E. I. du Pont de Nemours and Company, PepsiCo Inc, Aland (Jiangsu) Nutraceutical Co., Ltd, General Mills, Inc, Blytheco, Gamajet, Pharmachem Laboratories, Balchem Corp, Alpha Packaging, Aker BioMarine, Barrington Nutritionals, Premier Nutraceutical Pvt Ltd, Sydler India, Marlyn Nutraceuticals.

RELATED REPORTS

Herbal Nutraceuticals Market

Pet Food Nutraceuticals Market 

ABOUT US

Market Data Forecast is a firm working in the areas of market research, business intelligence and consulting. We have rich experience in research and consulting for various business domains to cater to the needs of both individual and corporate clients.

CONTACT US

Market Data Forecast

https://www.marketdataforecast.com/

Phone: +1-888-702-9626

Email: sales@marketdataforecast.com

3rd Floor, Trendz Park Building, Jain Rock Garden Rd, Vittal Rao Nagar, Madhapur, Hyderabad, Telangana, India.