The global Nutraceuticals Market is estimated to reach an annual compound rate of 7.2% between 2020 and 2025. Functional foods are becoming important worldwide and are becoming part of the daily diet of the consumer.
Nutraceuticals are obtained from food sources that have additional health benefits, along with the fundamental nutritional value of food. It can be considered a nonspecific biological therapy used to promote safety, control symptoms and prevent destructive processes.
- Patanjali has made remarkable achievements in the United Kingdom with more than $ 1 billion in sales in just ten years of launch.
- Holland & Barrett further demonstrates the enormous potential of the nutraceutical market by entering the Indian market.
- In 2019, DHA yummies, a new nutritional product from Amway India, supports the dietary differences between vitamin D and omega-3 fatty acids for children older than five years.
The increased risk of diseases such as high blood pressure, obesity, diabetes and cholesterol is expected to increase demand for nutraceutical products during the prognosis period. The high costs associated with health care treatments have increased consumer interest in nutraceuticals in recent years. Larger populations of young people in developing countries are likely to boost the global nutraceutical market growth during the forecast period by promoting the consumption of dietary supplements and functional drinks. Nutraceuticals provide essential nutrients such as dietary supplements and functional foods and beverages. Global trends in which nutritional characteristics are foreseen to play an important role are based on personalized nutrition.
Despite the many positive factors, the rise in nutraceutical prices is limiting consumption, especially in underdeveloped countries. Nutraceutical prices are generally higher than medications.
The global nutraceuticals market is classified into functional foods, functional drinks, dietary supplements and personal care by type. Functional foods are divided into foods fortified with omega fatty acids, branded flour, fortified foods with probiotics, branded ionized salt and more.
The dry sector is expected to have the largest market share during the forecast period. The segment will dominate the market due to its stability, ease of handling and storage compared to its liquid form.
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The Asia-Pacific region accounted for a 44.3% share in 2016 and is expected to show the fastest growth during the forecast period as demand for products in India, China and South Korea increases dramatically. As regulatory support increases, the expansion of the retail sector in emerging economies such as China, Indonesia, Malaysia and India are predicted to increase buyer access during the forecast period.
North America is a mature market, which represents 27.5% of the share of global income. In addition to the high medical costs of developed countries in the region, an increase in the elderly population is expected to have a positive impact on the demand for nutraceuticals during the forecast period.
Some industry workers in the nutraceutical market include Royal DSM N.V., Archer Daniels Midland Company, E.I. du Pont de Nemours, Nestle S.A, Cargill Incorporated, General Mills, Inc., Groupe Danone S.A. AND BASF SE.
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