Global Nutraceuticals Product Market size is expected to reach $340 billion by 2024 from $195 billion in 2016; growing at a CAGR of 7.2% from 2016 to 2024. By geography, Asia-Pacific and Rest of the World are expected to grow at a CAGR of 7.6% and 7.7%, respectively, during the forecast period.

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Increasing investments on healthcare will support the growth of global nutraceuticals product market

Global nutraceuticals product market trends are demand for a nutraceuticals product as a substitute to prescription and OTC drugs, increasing investments on healthcare. Though, high cost and lack of consumer knowledge may hamper the growth of the nutraceuticals product market Industry. Advance technology and market expansion would provide opportunities for the market in the future years.

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Market Segmentations

The global nutraceuticals product market is bifurcated into product type and geography. The product type segment includes dietary supplements (herbals, proteins & peptides, vitamins & minerals, and others), personal care & pharmaceutical, functional food (omega fatty acid fortified food, probiotics fortified food, branded wheat flour market, branded ionized salt, and other functional foods), and functional beverages (fruit & vegetable juices and drinks, noncarbonated drinks, dairy & dairy alternative drinks, and others). By geographically, the market is categorized into North America, Europe, Asia-Pacific, and Rest of the world (RoW).

Functional food dominated the product type segment
The functional food segment accounted for highest market share in 2016, owing to growing consumer expenditure in functional food which has amplified its demand globally.

North America held the highest market share in 2016
North America accounted for the largest market share of 39.4% in 2016, driven by increased popularity of nutraceuticals product in the United States and Canada. Asia-Pacific held the second largest share of 30.3%, driven by growth in middle class affluent population, increasing disposable income, majorly in developing economies such as China, Pakistan, Japan, and India. In terms of growth, Rest of the World is anticipated to dominate fastest CAGR of 7.7% during the forecast period 2016-2024, due to increasing health sensitivity among consumers.

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Competitive Landscape

The major key players operating in the nutraceuticals product market are Cargill Incorporated, DuPont, General Mills, Inc., Nestle S.A., Aland (Jiangsu) Nutraceutical Co., Ltd., Archer Daniels Midland Company (ADM), Royal DSM N.V.,PepsiCo, Groupe Danone S.A., and BASF SE, among others.

Scope of Nutraceuticals Market
Product Type Segments
• Personal Care and Pharmaceuticals
• Functional Food
o Omega Fatty Acid Fortified Food
o Branded Wheat Flour Market
o Probiotics Fortified Food
o Branded Ionized Salt
o Others

• Dietary Supplements
o Vitamins & Minerals
o Proteins & Peptides
o Herbals
o Others

• Functional Beverages
o Dairy & Dairy Alternative Drinks
o Noncarbonated Drinks
o Fruit & Vegetable Juices And Drinks
o Others

Geographical Segments
• North America
o US
o Canada
o Mexico

• Europe
o UK
o France
o Italy
o Others

• Asia-Pacific
o China
o India
o Japan
o Others

• RoW
o South America
o Middle East
o Africa

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