Nutraceuticals Market: By Product Type (Functional Food, Functional Beverages, Dietary Supplements, Personal Care), By Formulation (Oral Solids, Oral Liquids, Parenterals, Others), By Application (Bone Health, Cognitive Health, Gut Health, Heart Health, Immunity, Nutrition, Weight Management, Others), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies) and Geography  

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Nutraceuticals Market size was valued at USD 390 billion in 2022. It is expected to grow USD 659.78 billion by 2029 at a CAGR of 7.8% from 2023-2029. Nutraceuticals are a broad term which any product derived from food sources and having additional health benefits than basic nutritional value of food. Nutraceuticals are food products that are believed to prevent or have significant effect upon illnesses or medical conditions. Nutraceuticals Market may be nutrients, herbs and dilatory supplements. For instance, omega-3 a traditionally non-vegetarian product has been developed with vegetarian variants, thereby allowing it to gain traction with the large Indian vegetarian population. Mergers, acquisitions and collaboration are key tools used by the players to capture the market revenue share. The report market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, the market report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed global market to better equip clients with possible investment opportunities across the regions (regional Investment Hot-Spots) and market unmet needs (Product Opportunities).  

Nutraceuticals Market Key Developments:

  • In 2017, Alga technologies granted national organic program certification from U.S. FDA agricultural marketing service for its haematococcus pluvialis microalgae powder & astaxanthin oleoresin.
  • In 2016, DolCas Biotech, LLC received GRAS status for its BCM – 95 turmeric extracts to use in food, dietary supplements and medical foods.

Global Nutraceuticals Market Summary

Study Period

2023-29

Base Year

2022

CAGR

7.8%

Largest Market

North America

Fastest Growing Market

Asia Pacific
Nutraceuticals Market Dynamics

The nutraceuticals market is driven by multiple factors like new innovations such as probiotics, plant based products and increased preference of consumers for high protein diets. In addition to this, increased healthcare costs, increased prevalence of diseases prompted consumers and healthcare professionals to adopt nutraceuticals as alternative or complementary treatment option for several diseases. However, lack of awareness about the use of nutraceuticals and high cost of research and development is expected to hamper the nutraceutical market growth over forecast period. Moreover, high price of nutraceuticals leading to shifting of consumers towards the low priced pharmaceuticals.

Key Features of the Reports

  • The nutraceuticals market report provides granular level information about the market size, regional market share, historic market (2018 to 2022) and forecast (2023 to 2029)
  • The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
  • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
  • The report tracks recent innovations, key developments and startup’s details that are actively working in the market
  • The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
  • The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market

Global Nutraceuticals Market Segmentation

By Product Type
  • Functional Food
  • Functional Beverages
  • Dietary Supplements
  • Personal Care
By Formulation
  • Oral Solids
  • Oral Liquids
  • Parenterals
  • Others
By Application
  • Bone Health,
  • Cognitive Health,
  • Gut Health,
  • Heart Health,
  • Immunity,
  • Nutrition,
  • Weight Management,
  • Others
By Distribution Channel
  • Hospital Pharmacies,
  • Retail Pharmacies,
  • Online Pharmacies

Frequently Asked Questions

The nutraceuticals market is projected to expand at a CAGR of 7.8% during the forecast period.

Koninklijke DSM N.V (Netherlands), PepsiCo, Inc. (U.S.), Groupe Danone (France), Bayer AG (Germany), Abbott Laboratories (U.S.), Chobani LLC (U.S.)

North America is the fastest-growing region for nutraceuticals market

  • General Mills Inc. (U.S.)
  • Alphabet Holding Company, Inc. (The Nature's Bounty Co.) (U.S.),
  • Herbalife International Inc. (U.S.)
  • Koninklijke DSM N.V (Netherlands)
  • PepsiCo, Inc. (U.S.)
  • Groupe Danone (France)
  • Bayer AG (Germany)
  • Abbott Laboratories (U.S.)
  • Chobani LLC (U.S.)