The Nutraceuticals Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2024-2033).

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As delineated in The Business Research Company’s Nutraceuticals Global Market Report 2024, the landscape of the nutraceuticals market has experienced exponential growth in recent years. From its valuation of $415.47 billion in 2024, it is projected to ascend to $460.18 billion in 2024, boasting a robust compound annual growth rate (CAGR) of 10.8%. This surge in market size during the historical period finds its roots in a confluence of factors such as heightened health consciousness, widespread consumer education, regulatory facilitation, burgeoning scientific inquiry, and the demographic phenomenon of an aging populace.

Forecasts for the nutraceuticals market portend an even more accelerated expansion in the coming years. By 2028, it is anticipated to burgeon to a staggering $696.13 billion, maintaining a steady CAGR of 10.9%. This anticipated growth trajectory owes itself to the perpetuation of health consciousness, discernible global economic shifts, evolving dietary paradigms, the burgeoning influence of digital health platforms and e-commerce, and the burgeoning trend of personalized nutrition.

Noteworthy trends anticipated in the forecast period encompass the ascension of functional beverages, the burgeoning popularity of sports nutrition and performance supplements, the amplification of solutions addressing mental wellness, the heightened emphasis on immune system fortification, and the sharpened focus on gut health optimization.

At the vanguard of this market evolution stand major enterprises committed to pioneering innovative solutions tailored to the evolving health aspirations of consumers. Among the most salient developments is the advent of next-generation synbiotic solutions, representing a fusion of prebiotics and probiotics engineered to optimize gut health and holistic well-being. These advanced formulations transcend conventional paradigms, offering synergistic benefits that resonate with contemporary health sensibilities.

The rise in the geriatric population is significantly contributing to the growth of the nutraceutical market. Nutraceuticals are products that can be taken by an individual along with a normal daily diet to get additional nutrients to promote good health and immunity. After a certain age, especially after 65 years or above, an individual requires additional nutrients to build immunity to fight against several diseases such as diabetes, cholesterol, blood pressure, and other age-related issues. Nutraceuticals are used as daily supplements to meet the daily requirements of nutrients. For instance, in October 2022, according to the World Health Organization, a US-based specialized health agency, globally, 1 in 6 individuals would be 60 or older by 2030 and is expected to reach 2.1 billion elderly people by 2050. Therefore, the rise in the geriatric population is driving the growth of the nutraceutical market.

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The nutraceuticals market covered in this report is segmented –
1) By Type: Vitamins and Minerals, Probiotics, Proteins and Peptides, Omega Fatty Acids, Other Types
2) By Source: Plant, Animal, Microbial
3) By Application: Functional Food, Functional Beverages, Dietary Supplements, Personal Care, Animal Nutrition, Other Applications
4) By Product Forms: Capsules, Tablets, Softgels, Powder, Liquid, Gummies
5) By Distribution Channel: Specialty Stores, Supermarkets/Hypermarkets, Convenience Stores, Drug Stores/Pharmacies, Online Retail Stores, Other Distribution Channels

Illustratively, in January 2024, Evonik Industries AG, a stalwart in the domain, unveiled INVIVO BIOTICS, an innovative category of nutraceuticals poised to redefine the industry landscape. Emblematic of meticulous scientific acumen and a nuanced understanding of market dynamics, INVIVO BIOTICS heralds a new era in consumer wellness. Leveraging a proprietary blend of probiotics and health-enhancing constituents, Evonik's offerings encompass a spectrum of solutions ranging from butyrate-stimulating formulations to resolvin-rich supplements, catering to diverse consumer needs.

Beyond product innovation, Evonik's value proposition extends to comprehensive client support, encompassing strategic market insights, product positioning counsel, consumer outreach strategies, and bespoke packaging design services. Through this holistic approach, Evonik empowers nutraceutical firms to navigate the complexities of market dynamics, ensuring swift consumer adoption and sustained market relevance.

The nutraceuticals market report table of contents includes:
1. Executive Summary
2. Nutraceuticals Market Characteristics
3. Nutraceuticals Market Trends And Strategies
4. Nutraceuticals Market - Macro Economic Scenario
5. Global Nutraceuticals Market Size and Growth
.....

32. Global Nutraceuticals Market Competitive Benchmarking
33. Global Nutraceuticals Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Nutraceuticals Market
35. Nutraceuticals Market Future Outlook and Potential Analysis
36. Appendix

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