Nutraceutical Market
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The global nutraceutical market was valued at USD 451.7 billion in 2023 and is expected to grow at a CAGR of 4.7% from 2024 to 2032. This growth is driven by increasing consumer awareness of health and wellness, with more people seeking preventive healthcare options. Nutraceuticals, a blend of nutrition and pharmaceuticals, provide health benefits beyond basic nutrition and are used for disease prevention, health maintenance, and overall well-being.
With the rising prevalence of chronic diseases and an aging population, the demand for functional foods, dietary supplements, and other nutraceuticals is anticipated to increase. The National Institute of Health reports that chronic diseases are among the primary drivers of global health challenges, with associated costs projected to reach $47 trillion by 2030. Additionally, incorporating natural and organic ingredients aligns with consumer preferences, further boosting market demand and growth.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| Nutraceutical Market size in 2023: | USD 451.7 Billion |
| Forecast Period: | 2024 to 2032 |
| Forecast Period 2023 - 2032 CAGR: | 4.7 |
| 2023 Value Projection: | USD 684 Billion |
| Historical Data for: | 2018 to 2023 |
| No of Pages: | 140 |
| Tables, Charts & Figures: | 503 |
| Segments Covered: | Product, Form, Condition, Distribution Channel and Region |
| Growth Drivers: |
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| Pitfalls Challenges: |
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The nutraceutical market growth is fueled by rising health awareness, growing disposable incomes, and an increasing trend toward preventive healthcare. In March 2024, India’s per capita disposable income for 2023-24 is anticipated to reach Rupees 2.14 lakh. Revised GDP data from the government highlighted adjustments in both gross and net national disposable incomes. Per capita disposable income saw an 8% growth in FY24, following a 13.3% rise the previous year. Meanwhile, gross national disposable income is projected to grow by 8.9% in FY24, after expanding by 14.5% in FY23.
With lifestyle-related diseases like diabetes, cardiovascular disorders, and obesity on the rise, consumers are turning to nutraceuticals as a means of managing health and wellness. The WHO reports that approximately 422 million people globally are affected by diabetes, with most cases in low- and middle-income countries, and the disease directly causes 1.5 million deaths annually.
Additionally, consumer preference for natural ingredients and clean-label products propels the demand for plant-based and organic nutraceuticals. However, regulatory hurdles and complex product registration processes in certain regions present challenges to market expansion. Variability in regulations across different countries may also delay product approvals, limiting market access. Despite these challenges, the positive market growth trajectory is supported by ongoing product innovation and strong demand for tailored health solutions.
The nutraceutical industry is expected to witness robust growth through 2032, driven by the increasing popularity of personalized nutrition. Companies leverage technology and consumer data to create customized nutraceutical products tailored to specific health needs. Additionally, the trend of clean-label products free from synthetic additives and preservatives is gaining traction as consumers prioritize transparency and safety in their dietary supplements. With advancements in biotechnology, product innovation is set to flourish, allowing companies to incorporate novel ingredients such as probiotics, prebiotics, and adaptogens. These ingredients are increasingly recognized for their health benefits and are expected to drive the adoption of nutraceutical products across various demographics.
Based on product, the nutraceutical industry is categorized into functional foods, dietary supplements, and functional beverages. The dietary supplements segment held a significant share of the market in 2022 and is expected to generate USD 279.6 billion by 2032. Dietary supplements, including vitamins, minerals, amino acids, and botanicals, are commonly used for health enhancement and disease prevention. Rising health consciousness, particularly in urban areas, has led to increased supplement usage for immunity-boosting, energy enhancement, and weight management. Additionally, as consumers age, they seek dietary supplements to address specific health concerns, such as joint support, cognitive health, and cardiovascular well-being. Companies in this segment focus on diversifying product portfolios to cater to the unique needs of different demographics, contributing to segment expansion.
Based on form, the nutraceutical market is segregated into capsules & tablets, powder, liquid, gummies, and others. Powder-based nutraceuticals are expected to register over 4.7% from 2024 to 2032, largely due to their convenience and versatility. Powders are easily incorporated into beverages and foods, making them a preferred choice for consumers looking to enhance their nutritional intake without pills or capsules. Powders also offer better bioavailability and flexibility in dosage compared to other forms. With an increasing number of people pursuing active lifestyles, protein powders, green superfood blends, and collagen powders have surged in popularity. In addition, the customization potential of powdered supplements—allowing consumers to mix and match various health-boosting ingredients—aligns with the personalized nutrition trend, thereby boosting demand for powdered nutraceuticals.
North America accounted for 38.3% of the nutraceutical market share in 2023 and is projected to grow at a robust CAGR through 2032. The region’s growth is largely due to rising health awareness, a strong focus on preventive healthcare, and high disposable income levels. The United States and Canada are leading markets within North America, where nutraceuticals are widely accepted as part of daily health routines. The regulatory framework in the U.S. allows for specific health claims on dietary supplements, which further drives consumer confidence and adoption of nutraceutical products. Additionally, North America’s aging population is fueling demand for nutraceuticals targeting joint, cognitive, and cardiovascular health. The region’s growth prospects are enhanced by continuous product innovation and a well-established retail infrastructure, ensuring consumer access to a wide range of products.
These companies are investing heavily in research and development to expand their product portfolios and meet the evolving needs of consumers. Partnerships and acquisitions are also common in this sector, enabling companies to leverage each other’s resources, distribution channels, and market expertise. For example, in July 2022, Nestlé Health Science acquired a minority stake in Orgain, a plant-based protein powder company, to strengthen its product offerings in the growing plant-based nutraceutical segment. With a focus on developing innovative, science-backed products, leading players are well-positioned to capitalize on the expanding market demand.
The competitive landscape of the nutraceutical industry includes prominent players such as
In April 2024, Nestle India and Dr. Reddy's Laboratories Ltd. announced a definitive agreement to establish a joint venture focused on delivering innovative nutraceutical brands to consumers in India and selected territories. This collaboration will combine Nestle Health Science's (NHSc) global portfolio of nutritional health solutions, including vitamins, minerals, herbals, and supplements, with Dr. Reddy's well-established commercial expertise in India.
By Product
By Form
By Condition
By Distribution Channel
The above information is provided for the following regions and countries:
North America accounted for 38.3% of the nutraceutical market share in 2023 and is projected to grow at a robust CAGR through 2032, driven by rising health awareness and high disposable income levels.
The global nutraceutical industry was valued at USD 451.7 billion in 2023 and is expected to grow at a CAGR of 4.7% from 2024 to 2032, driven by increasing consumer awareness of health and wellness.
The dietary supplements segment is expected to generate USD 279.6 billion by 2032, as they are commonly used for health enhancement and disease prevention.
Key players in the industry include Nutramax Laboratories, Inc., Charlotte's Web, Kellogg