The new report published by IMARC Group titled, “Nutraceuticals Market Report: COQ10, Probiotics/Prebiotics, Taurine, Omega-3, Green Tea, Antioxidants, Calcium, Lycopene, B-Complex, Dietary Fibre, Collagen, Aloe Vera and Zinc”, finds that the global nutraceuticals market reached a value of US$ 248 Billion in 2017, exhibiting a CAGR of 5.3% during 2010-2017. Nutraceuticals are food and beverages which cater to individual nutritional demands and offer health benefits beyond basic nutrition. Nutraceuticals range from fortified products (such as vitamin-fortified juices) to enhanced commodities(such as eggs with higher omega-3 content). These products can be required due to certain health conditions, professional needs or food allergies and intolerances, and can help enhance immunity and digestion, prevent chronic diseases, improve cognitive behaviour, etc.
Highlights of the Global Nutraceuticals Market:
- The shifting consumer preference towards personalised nutrition products remains the major growth driver.
- Digestive and immune health products dominated the market, representing the most popular indication type.
- The United States is the largest market, accounting for around a fourth of the global share.
The market is currently being driven by a number of growth inducing factors. One of the major factors is the shift towards personalized nutrition which has enabled the manufacturers to provide products that are better suited to the individual health and nutritional requirements of the consumers. Furthermore, the increase in the aging population and the prevalence of lifestyle diseases, particularly in the developed regions, has encouraged the demand for nutraceuticals. Several other factors such asbetter understanding towards fitness, growing health concerns, lifestyle changes,increasing disposable incomes and demand from emerging regions are alsostimulating the global nutraceutical market. New product launches are further projected to strengthen the market growth.Owing to these factors, the market is expected to reach a value of US$ 372.2 Billion by 2023.
The global nutraceuticals market is segmented as personalised foods and personalised beverages. As these personalised products eithertarget theconsumers’ medical conditionsor addressindividual health requirements, the market is sub-divided into key indicative health areas. These include digestive and immune health,heart health, energy and alertness health, cognitive health, bone and joint health and beauty health. Products for digestive and immune health currently account for the majority of the total global sales.
On the basis of region, the United States represents the largest market for nutraceuticals accounting for more than a fourth of the total global share. The other major regions include the United Kingdom, Brazil, Japan, Mexico and China. The market is fragmented in nature owing to the presence of a number of players. Currently, PepsiCo represents the largest functional food company in the world with brands such as Quaker cereals, Tropicana and Dole juices, SoBE non-carbonated energy drinksand Gatorade.Some of the other key players include Coca Cola, Otsuka, Yakult Honsha, Danone, GlaxoSmithKline, Cadbury, Morinaga, Nestlé and Kirin Brewery.
The report has examined the global nutraceuticals market on the basis of:
- Personalised Foods
- Personalised Beverages
- United States
- United Kingdom
- PepsiCo Inc.
- Coca Cola
- Yakult Honsha
- Kirin Brewery
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