The Global Nutraceuticals Market Is Majorly Driven By Growing Usage


Posted September 21, 2017 by Dineshpatel

Global Nutraceuticals Market Report, published by Variant Market Research, forecast that the global market is expected to reach $340 billion by 2024; growing at a CAGR of 7.2% from 2016 to 2024.

 
Global Nutraceuticals Product Market Report, published by Variant Market Research, forecast that the global market was valued at $195 billion in 2016 and expected to reach $340 billion by 2024; growing at a CAGR of 7.2% from 2016 to 2024. In geographical segments, Asia-Pacific and Rest of the World are expected to grow at a CAGR of 7.6% and 7.7%, respectively, over the forecast period 2016 - 2024.

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The global nutraceuticals market is majorly driven by rise in healthcare expenditure, growing usage of nutraceuticals product as a substitute to prescription, increased usage of nutraceuticals product as a substitute to prescription and OTC drugs and increased demand for nutritional diet. Though, high cost and lack of consumer knowledge may restraints the growth of the market. Additionally, practice of nutraceuticals across new application areas and technological improvement and would provide several growth opportunities for the market in the future year.
The global nutraceuticals product market has been categorized into product type and geography. product type contains dietary supplements, functional food, functional beverages, and personal care & pharmaceutical. Among product type, the functional food segment held for the maximum market share in 2016, owing to growing consumer investment on functional food which has amplified its demand globally. The functional food segment contains branded wheat flour market, omega fatty acid fortified food, branded ionized salt, probiotics fortified food, and others. The functional beverage comprises dairy & dairy alternative drinks, fruit & vegetable juices and drinks, noncarbonated drinks, and others. The dairy supplement contains herbals, proteins & peptides, vitamins & minerals and others.

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North America, Europe, Asia-Pacific and Rest of the World (RoW) are the major regions covered in the report. North America held for the largest market share of 39.4% in 2016, due to growing demand for nutraceuticals product in the U.S. and Canada, due to its several benefits such as low risk of diabetes and cardiovascular problems. Asia-Pacific accounted for the second major market share of 30.3%, due to growth in disposable income and development in middle class affluent population, majorly in emerging economies such as China, Japan, and India. In terms of growth, rest of the world is to attain the fastest CAGR of 7.7% during the forecast period 2016-2024, due to growing health awareness among consumers.

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

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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

About Variant Market Research

Variant Market Research offers syndicated and customized reports to fulfill clients' objectives. We also provide customized data pack proposing market sizing in an Excel/PDF/PowerPoint or Word format as per the requirement of clients. We cover several industry domains, namely Semiconductor & Electronics, Consumer Electronics, Information and Communication Technology, Automotive, Consumer Goods, Food & Beverages, Pharmaceuticals, Medical Devices, Chemicals, Industrial, Mining Equipment, Automation, Manufacturing, Construction, Energy & Power, Defense & Aerospace and Banking, Financial services and Insurance (BFSI). Our expertise are data triangulation, competitor benchmarking, parent market benchmarking, estimating market size and forecast of the market from 2016 to 2024.
For further information, visit https://www.variantmarketresearch.com
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Issued By Dinesh Patel
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Categories Food
Tags nutraceuticals market , nutraceuticals market forecast , nutraceuticals market global scenario , nutraceuticals market outlook , nutraceuticals market size , nutraceuticals market trend
Last Updated September 21, 2017