Latest Report on Global Nutraceuticals Market by Variant Market Research


Posted May 16, 2017 by snehakumar

Variant Market Research forecasted that the global nutraceuticals market is forecasted to reach $340 billion by 2024 from $195 billion in 2016; growing at a CAGR of 7.2% from 2016 to 2024.

 
Variant Market Research forecasted that the global nutraceuticals market is forecasted to reach $340 billion by 2024 from $195 billion in 2016; growing at a CAGR of 7.2% from 2016 to 2024. There are the several driving factors of the market such as increasing healthcare expenditure, growing popularity for nutritional diet and rising demand for nutraceutical products as a substitute for OTC and prescription drugs. However, high cost of products and lack of adequate awareness among end-users may restrain the growth of the market. Furthermore, increasing applications of nutraceuticals and technological advancements are the major opportunities of the market.
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Key segments of the global nutraceuticals market are products type, and geography. Personal care & pharmaceuticals, dietary supplements, functional foods and functional beverages are the key sub segments of the product type segment. In 2016, functional food sub segment has highest market share owing to increased spending on personal health.
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North America, Europe, Asia-Pacific and rest of the world are the major geographical sub segment of the global nutraceuticals market. In 2016, North America region accounted for the highest market share of 39.4%, owning to, rising demand for nutraceuticals due to its several health benefits. Additionally, RoW is predicted to grow at the highest CAGR of 7.7% during 2016-2024, driven by increasing health awareness among consumers.
The market players have been adopting several strategies to increase their product portfolio and geographical presence. The key market players in the nutraceuticals market are Archer Daniels Midland Company (ADM), Nestle S.A., Cargill Incorporated, PepsiCo, DuPont, Royal DSM N.V., General Mills, Inc., BASF SE, Groupe Danone S.A., and Aland (Jiangsu) Nutraceutical Co., Ltd., among others.
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Issued By sneha
Country United States
Categories Business , Food
Tags food , nutraceuticals
Last Updated May 16, 2017