The global Nutraceuticals market is anticipated to grow at a significant CAGR of 9.7% during the forecast period. The global nutraceuticals industry is driven by rising consumer interest in functional food & beverages, growing awareness, and increasing disposable income. Further, individuals are more health-conscious and are inclined toward expensive food and beverages for health benefits. Moreover, the functional beverages come with reduced alcohol, gluten, sugar, and carbohydrates without reducing the original taste of the beverage. Moreover, the availability of functional beverages in various flavors, and other alternatives such as no-calorie and no-sugar will significantly enhance their adoption across the globe, which in turn, will drive the growth of the functional beverages and so the nutraceuticals market during the forecast period.
The COVID-19 pandemic has had a considerable impact on the Nutraceuticals market. The spread of COVID-19 had a detrimental influence on the market due to supply chain disruptions as a result of protracted plant closures around the world. The COVID-19 pandemic has broken out, and the situation is still uncertain. During the COVID-19 pandemic, the consumption of nutraceuticals including food supplements has increased significantly. As per the annual observatory of food supplements of 2020 (published in June 2020) by Synadiet, 82% of people in France have changed their habits the last year to maintain their own and family health. Due to the 2020 health crisis, 62% of French people increased their attention on their health to support their immune system.
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Market Coverage
- Market number available for – 2022-2029
- Base year- 2021
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill Inc., and others
Market Segmentation
Nutraceuticals Market by Product Type
- Functional Food
- Functional Beverages
- Dietary Supplements
Nutraceuticals Market by Distribution Channel
- Retail Supermarkets
- Online Distribution
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Regional Analysis
North America
- United States
- Canada
Europe
- UK
- Germany
- Spain
- France
- Italy
- Rest of Europe
Asia-Pacific
- India
- China
- Japan
- South Korea
- Rest of APAC
Rest of the World
- Latin America
- Middle East & Africa
Company Profiles
- Abbott Laboratories
- AJE Group
- Arkopharma Laboratories SA
- Amway Corp.
- BASF SE
- Cargill, Inc.
- Danone SA
- DuPont De Nemours, Inc.
- Herbalife Ltd.
- I.D Parry Ltd.
- Dabur India Ltd.
- General Mills, Inc.
- Herbalife Ltd.
- Nestle
- PepsiCo, Inc.
- Koninklijke DSM NV
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