The global nutraceuticals market is projected to grow at a CAGR of over 8% during the forecast period. Nutraceutical food possesses a medicinal effect on the human body and includes a variety of foods such as dietary supplements, pro- and prebiotics, medical foods, and herbal products. The key factors that drive the growth of the global nutraceuticals market include the shift towards preventive therapies and increasing disposable income. Nutraceutical foods also aid in the prevention of cardiovascular diseases. Several nutraceuticals that are used in cardiovascular diseases includes N-acetylcysteine, creatine, carnitine, glutathione, beta-sitosterol selenium, resveratrol, and flavonoids among many others.
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Further, changing lifestyles, increasing healthcare costs, and growing geriatric population, are some other factors that drive the overall growth of the global nutraceuticals market. Government initiatives and laws such as Dietary Supplement Health and Education Act (DSHEA), Food Safety and Standard Rule and Regulations also encourages the adoption of a healthy diet, which, in turn flourishes the growth of the market.
However, the factors that limit the growth of the market include unawareness and lack of availability in some developing and under-developed countries. Nevertheless, key developments in terms of product innovation and portfolio expansion are some of the activities that are adopted by the players, which in turn, create ample opportunities for the market growth during the forecast period.
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Global Nutraceuticals Market Segmentation
By Product Type
- Functional Food
- Functional Beverage
- Dietary Supplements
By Distribution Channel
- Retail & Super Markets
- Online Platform
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
