South Korea, Seoul, Sept. 09, 2022 (GLOBE NEWSWIRE) — The global nutraceutical supplement market is expected to grow at a CAGR of nearly 8% through 2031, reaching an impressive valuation of US$175 billion, according to Fact. MR’s newly released report. From 2016 to 2020, sales grew at a CAGR of 6%, to close at a value of over US$80 billion.
According to the Fact.MR study, the demand for prebiotic and probiotic dietary supplements is increasing rapidly and is expected to register more than 10% per year in 2021. Increased awareness of the use of probiotics to maintain good health and reduce the risk of Multiple diseases has led to large demand for prebiotics and probiotics as dietary supplements.
Factors such as the increasing prevalence of chronic diseases, such as diabetes, cholesterol, and obesity, the growing geriatric population, and the growing demand for alternative pharmaceuticals are contributing significantly to the growth of nutraceutical supplements.
Growing consumer awareness of fitness and health is increasing the demand for on-the-go nutritional snacks, contributing to increased growth.
With their wide array of benefits, nutraceuticals have shown significant demand from patients with medical indications related to oxidative stress, including allergies, cardiovascular disease, eye conditions, Alzheimer’s disease, obesity and Parkinson’s disease.
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Key insights from market research
- Vitamins and mineral nutraceutical supplements expected to account for 36% of revenue
- Combined, herbal, protein and amino acid supplements drive 50% of global demand
- High preference for nutraceutical capsules, expected to account for at least 1 in 4 sales
- By consumer orientation, unisex supplements hold 2/5th market share through 2021
- The United States will dominate the North American market, with a 30% revenue share
- 2/5th of South Asian market demand will be represented by India until 2031
“The strengthening of personalized nutritional regimens amid the growing prevalence of sedentary lifestyles is expected to drive demand for nutraceutical supplements, driving large-scale innovations and new product launches,” notes the Fact.MR analyst.
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The global nutraceutical supplement market is highly competitive in nature. Amid rising competition in the nutraceutical supplements market, the major players are focusing on strengthening their market position and gaining traction in the competitive global market.
Some of the major market players are Kraft Heinz Company, The Hain Celestial Group, Conagra, General Mills, Kellogg’s, Nestle, Amway, Barilla Group, Pfizer Inc., Freedom Food Group Limited and others.
- In April 2021, Nestlé and KKR entered into an agreement under which Nestlé will acquire the core brands of The Bountiful Company for US$5.75 billion. The Bountiful Company is the number one pure-play leader in the highly attractive and growing global nutrition and supplement category.
- The transaction includes high-growth brands – Nature’s Bounty®, Solgar®, Osteo Bi-Flex® and Puritan’s Pride® as well as the company’s private label business in the United States. These brands will be integrated into Nestlé Health Science, creating a global leader in vitamins, minerals and nutritional supplements.
Key Segments Covered
- type of product
- Nutraceutical vitamin and mineral supplements
- Herbal Nutraceutical Supplements
- Nutraceutical protein and amino acid supplements
- Prebiotic and probiotic nutraceutical supplements
- Nutraceutical Supplement Capsules
- Nutraceutical supplement capsules
- Liquid nutraceutical supplements
- Nutraceutical Supplement Tablets
- Nutraceutical Supplement Powder and Granules
- Client orientation
- Nutraceutical supplements for men
- Nutraceutical supplements for children
- Nutraceutical supplements for women
- Unisex Nutraceutical Supplements
- Sales channel
- Sales of nutraceutical supplements via pharmacies
- Sales of nutraceutical supplements through health and beauty stores
- Sales of nutraceutical supplements through modern commercial channels
- Sales of nutraceutical supplements via direct selling
- Sales of nutraceutical supplements through online retailers
- Sales of nutraceutical supplements through convenience stores
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Key Points Covered in the Nutraceutical Supplements Industry Survey
- Market Estimates and Forecasts (2016-2031)
- Key Drivers and Restraints Shaping Market Growth
- Analysis by segment, by country and by region
- Competitive Mapping and Benchmarking
- Brand share and market share analysis
- Main product innovations and regulatory climate
- Impact of COVID-19 on Nutraceutical Supplements and How to Navigate
- Recommendation on the main winning strategies
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Fact.MR, in its new offering, presents an unbiased analysis of the Nutraceutical Supplements Market, showcasing historical demand data (2016-2020) and forecast statistics for the period 2021-2031.
The study discloses compelling insights into the Nutraceutical Supplements Market based on product type (Vitamin & Mineral Supplements, Herbal Supplements, Protein & Amino Acid Supplements, and Prebiotic & Probiotic Dietary Supplements), consumer orientation (men, children, women and unisex), form (softgels, capsules, liquids, tablets, powders and granules) and sales channel (pharmacies, health and beauty stores, modern commerce channel, direct sales and retailers online), across seven regions (North America, Latin America, Europe, East Asia, South Asia, Oceania, and Middle East & Africa).
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