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(Health-NewsWire.Net, December 11, 2020 ) The report "Nutraceutical Products Market - Global Forecast to 2025". The nutraceutical products market is projected to reach USD 404.8 billion by 2025 and was estimated at USD 267.4 billion in 2019, recording a CAGR of 7.2% from 2019. Key factors driving the nutraceutical products market include the increasing aging population and focus on preventive healthcare. In addition, increasing mandates pertaining to food fortification by government organizations is projected to reflect positively on the market growth.
Browse 102 market data Tables and 46 Figures spread through 177 Pages and in-depth TOC on "Nutraceutical Products Market by Type (Food, Beverages, Dietary Supplements), Source (Probiotics, Prebiotics, Vitamins, Minerals), Distribution Channel (Conventional Stores, Specialty Stores, Drugstores & Pharmacies), Region - Global Forecast to 2025"
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The beverages segment is projected to be the fastest-growing segment due to the increasing consumer inclination towards healthy beverages fortified with several organic and nutraceutical ingredients, which is projected to drive the demand for functional beverage products. In addition, functional beverages serve the purpose of hydration, energy & rejuvenation, health & wellness, and weight management. Due to these factors, manufacturing companies are focusing on introducing new fortified functional beverages.
North America is projected to account for the largest share in the nutraceutical products market during the forecast period.
The North American market accounted for the largest share in 2019; it is majorly driven by the market in the US, which is a major market for nutraceutical products. Consumers in this region are gradually becoming aware of the health benefits of prebiotics, proteins & amino acids, and omega-3 fatty acids, and their significance in weight management. These factors are projected to drive the demand for nutraceutical products further in the region.
The Asia Pacific market is projected to record the fastest growth in the market. Factors such as busy lifestyles have led to an increase in the consumption of convenience food products. In addition, the rapid economic growth in countries of various regions has led to a surge in demand for fortified nutritional food & beverage products in the region. The food & beverage market in this region is currently undergoing a transformation due to rapid urbanization, diet diversification, and liberalization of foreign direct investment in the food sector. In addition, rising income, increasing purchasing power, and a surge in consumer demand for nutritional & healthy products are factors projected to widen the growth prospects for manufacturers in the nutraceutical products market in the region.
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Major vendors in the global nutraceutical products market are Kraft Heinz Company (US), The Hain Celestial Group (US), Conagra (US), General Mills (US), Kellogg’s (US), Nestlé (Switzerland), Nature’s Bounty (US), Amway (US), Hero Group (US), Barilla Group (Italy), Raisio Group (Finland), Pfizer Inc.(US), and Freedom Food Group Limited (Australia).
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