In a recent published report, Kenneth Research has updated the market report for Nutraceuticals Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Nutraceuticals Market products.
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Moreover, the median health expenditure per capita recorded in the high-income, upper-middle income, and low & lower-middle income countries, recorded to be over USD 2,000, USD 400, and USD 100 respectively. Additionally, in the same year, the spending on health in high-income countries and in the low- and middle-income countries comprised approximately 8.2% and 6.3% of the GDP respectively.
Global Nutraceuticals Market is forecasted to reach $340 billion by 2024; growing at a CAGR of 7.2% from 2016 to 2024. Nutraceuticals are products derived from food sources which contain additional health benefits in comparison to basic nutritional food value. The nutraceuticals comprises beverage, food, and dietary supplements. Vitamins, proteins, minerals, amino acids, fibers, and others are used for manufacturing nutraceuticals products. Increase in disposable income and growing consumer awareness towards the health benefits of nutraceuticals product witnessed increase in adoption of Nutraceuticals.
Major driving factors of global nutraceuticals market are increasing usage of nutraceuticals product as a substitute to prescription, augmented demand for nutritional diet, and rise in healthcare expenditure. However, high price may hinder the growth of the market. Practice of Nutraceuticals across new application areas and technological advancement would provide new business opportunities for the market in the coming years.
Product type and geography are the major segments of global nutraceuticals market. Product type segment includes functional food, functional beverages, personal care & pharmaceutical, and dietary supplements. The functional food segment is further divided into probiotics fortified food, omega fatty acid fortified food, branded ionized salt, branded wheat flour, and others. The functional beverages segment is classified into dairy & dairy alternative drinks, fruit & vegetable juices drinks, noncarbonated drinks, and others.
Geographically, the global nutraceuticals market is categorised into North America, Europe, Asia-Pacific and Rest of the world RoW. The U.S., Mexico and Canada are covered under North America. Europe covers UK, France, Italy, and others wherein Asia-Pacific covers China, India, Japan, and others. RoW includes South America, Middle East and Africa.
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Major companies operating in the nutraceuticals market are General Mills, Inc., Cargill Incorporated, DuPont, Nestle S.A., Royal DSM N.V., BASF SE, Groupe Danone S.A., PepsiCo, and Archer Daniels Midland Company (ADM), among others.
The key takeaways from the report:
The report will provide detailed analysis of the Nutraceuticals Market with respect to major segments such as product type, and geography
The report will include the qualitative and quantitative analysis with market estimation over 2015-2024 and compound annual growth rate (CAGR) between 2016 and 2024. Comprehensive analysis of market dynamics including factors and opportunities will be provided in the report. An exhaustive regional analysis of the Nutraceuticals Market from 2015 to 2024 has been included in the report.
Profile of the key players in the Nutraceuticals Market, will be provided, which include key financials, product & services, new developments and business strategies.
Scope of Nutraceuticals Market
Product Type Segments
Personal Care and Pharmaceuticals
Functional Food
Omega Fatty Acid Fortified Food
Branded Wheat Flour Market
Probiotics Fortified Food
Branded Ionized Salt
Others
Dietary Supplements
Vitamins & Minerals
Proteins & Peptides
Herbals
Others
Functional Beverages
Dairy & Dairy Alternative Drinks
Noncarbonated Drinks
Fruit & Vegetable Juices And Drinks
Others
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Geographical Segments
North America
US
Canada
Mexico
Europe
UK
France
Italy
Others
Asia-Pacific
China
India
Japan
Others
RoW
South America
Middle East
Africa
About Kenneth Research
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