Nutraceuticals Market Report

Global Nutraceuticals Market:

The global nutraceuticals market size reached US$ 468.5 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 856.3 Billion by 2032, exhibiting a growth rate (CAGR) of 6.7% during 2024-2032. The growing prevalence of chronic diseases and the increasing health consciousness among consumers across the globe are stimulating the market growth.

Nutraceuticals Market Analysis:

• Major Market Drivers: The growing awareness among individuals towards the importance of nutrition and the rising preference for natural and organic products are acting as growth-inducing factors.
• Key Market Trends: The elevating trends towards clean-label products and the increased usage of dietary supplements worldwide are bolstering the overall market.
• Competitive Landscape: Some of the prominent companies in the market include Danone, Kirin Holdings Company Limited, Mondelez International Inc., Morinaga Milk Industry Co. Ltd., Nestle, Otsuka Pharmaceutical Co. Ltd., PepsiCo Inc., The Coca-Cola Company, and Yakult Honsha Company Limited., among many others.
• Geographical Trends: The United States dominates the market due to its advanced healthcare infrastructure.
• Challenges and Opportunities: The lack of standardized regulations is hindering the market. However, establishing clear global guidelines to ensure product safety, quality, and consumer trust will continue to fuel the market in the coming years.

Nutraceuticals Market Trends:

Rising Adoption of Clean Label Products

Consumers are increasingly seeking clean-label nutraceutical products that are free from artificial additives, preservatives, and genetically modified organisms (GMOs). Therefore, manufacturers are responding by simplifying ingredient lists and highlighting natural, recognizable components on the packaging. For example, in July 2024, Renewtra made its debut in the Indian market, introducing the first clinically proven, transparent-label nutraceutical products in the country. This is positively influencing the nutraceuticals market outlook.

Growing Focus on Overall Health

The global health crisis has increased consumer awareness of the importance towards a strong immune system and overall health, which is leading to a surge in demand for nutraceuticals that claim to boost immunity. For example, in June 2024, the Department of Atomic Energy (DAE) collaborated with IDRS Labs Pvt. Ltd., Bengaluru, to launch the nutraceutical AKTOCYTE, which is approved by the Food Safety and Standards Authority of India (FSSAI). This product is designed to enhance the quality of life for cancer patients undergoing radiotherapy, particularly those with pelvic cancer. This is elevating the nutraceuticals market revenue.

Demand for Personalized Nutrition

Personalized nutrition is becoming increasingly popular as consumers seek products designed to their individual health needs, which is escalating the nutraceutical market demand. Advancements in technology, such as genetic testing and data analytics, allow companies to create customized nutraceuticals that address specific nutritional deficiencies or health goals. For instance, in May 2024, Evonik launched new nutraceutical innovations at Vitafoods Europe, fortifying its commitment to providing evidence-based ingredients for functional food and supplement brands.

Global Nutraceuticals Industry Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with the nutraceuticals market forecast at the global and country levels for 2024-2032. Our report has categorized the market based on the product and indication.

Breakup by Product:

• Personalized Foods
  • Bakery Products
  • Confectionery
  • Dairy Products
  • Oil & Fats
  • Snack Bars
  • Other Foods
• Personalized Beverages
  • Chocolate Based FP Drinks
  • Bottled Water
  • Concentrates
  • Energy Drinks
  • Fruit Vegetable Juices
  • RTD Tea
  • Sports Drinks
  • Others
     

Personalized beverages dominate the nutraceuticals market share

The report has provided a detailed breakup and analysis of the market based on the product. This includes personalized foods (bakery products, confectionery, dairy products, oil & fats, snack bars, and other foods) and personalized beverages (chocolate based FP drinks, bottled water, concentrates, energy drinks, fruit vegetable juices, RTD tea, sports drinks, and others). According to the report, personalized beverages represented the largest market segmentation. 

The increasing demand for tailored experiences that cater to individual tastes and health needs is propelling the market. Furthermore, brands like Vitaminwater offer customizable hydration options where people can choose their preferred vitamin mix-ins.

Breakup by Indication:

• Digestive and Immune Health
• Energy & Alertness Health
• Heart Health
• Bone & Joint
• Cognitive Health
• Beauty Health
   

Digestive and immune health dominates the nutraceuticals market statistics

The report has provided a detailed breakup and analysis of the market based on the indication. This includes digestive and immune health, energy & alertness health, heart health, bone & joint, cognitive health, and beauty health. According to the report, digestive and immune health represented the largest market segmentation. 

Digestive and immune health segments dominate, highlighting a significant shift in consumer priorities toward holistic well-being. As more consumers seek proactive solutions for digestive issues and immune support, nutraceutical companies are responding with a diverse range of products designed to meet these demands. This is escalating the nutraceuticals recent opportunities.

Breakup by Region:

• United States
• Germany
• United Kingdom
• France
• Spain
• Italy
• Japan
• China
• Russia
• India
• Brazil
• Mexico
   

The United States exhibits a clear dominance in the nutraceuticals market's recent price

The market research report has also provided a comprehensive analysis of all the major regional markets, which include the United States, Germany, the United Kingdom, France, Spain, Italy, Japan, China, Russia, India, Brazil, and Mexico. According to the report, the United States accounted for the largest market share.

According to the nutraceuticals market overview, the United States dominates the market due to its diverse research and development capabilities, high consumer demand, and established industry leaders. For example, companies like Herbalife and Nature's Bounty drive innovation and offer a wide range of products. The strong regulatory framework provided by the FDA ensures product safety and efficacy, which builds consumer trust. Besides this, significant investments in marketing and a health-conscious population further boost the market. The extensive distribution networks, including both physical stores and e-commerce platforms, also contribute to the sector's growth.

Competitive Landscape:

The market research report has provided a comprehensive analysis of the competitive landscape. Detailed profiles of all major nutraceuticals market companies have also been provided. Some of the key players in the market include:

• Danone
• Kirin Holdings Company Limited
• Mondelez International Inc.
• Morinaga Milk Industry Co. Ltd.
• Nestle
• Otsuka Pharmaceutical Co. Ltd.
• PepsiCo Inc.
• The Coca-Cola Company
• Yakult Honsha Company Limited
   

(Please note that this is only a partial list of the key players, and the complete list is provided in the report.)

Nutraceuticals Market Recent Developments:

• July 2024: Renewtra made its debut in the Indian market by introducing the first clinically proven, transparent-label nutraceutical products in the country.
• June 2024: The Department of Atomic Energy (DAE) collaborated with IDRS Labs Pvt. Ltd., Bengaluru, to launch the nutraceutical AKTOCYTE, which is approved by the Food Safety and Standards Authority of India (FSSAI). This product is designed to enhance the quality of life for cancer patients undergoing radiotherapy, particularly those with pelvic cancer.
• May 2024: Evonik launched new nutraceutical innovations at Vitafoods Europe to provide evidence-based ingredients for functional food and supplement brands. 

Nutraceuticals Market Report Scope:

Key Benefits for Stakeholders:

• IMARC's industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the nutraceuticals market from 2018-2032.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the global nutraceuticals market.
• The study maps the leading, as well as the fastest-growing, regional markets.
• Porter's five forces analysis assists stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the nutraceuticals industry and its attractiveness.
• The competitive landscape allows stakeholders to understand their competitive environment and provides insight into the current positions of key players in the market.