Nutraceutical Market Analysis

Nutraceutical Market Analysis

Nutraceutical market from the dietary supplements product segment is estimated to generate USD 279.6 billion by 2032. Dietary supplements, including vitamins, minerals, herbal extracts, and probiotics, are widely consumed to supplement and enhance nutrition. The rising awareness regarding preventive healthcare and the increasing adoption of self-care practices have fueled the demand for dietary supplements. Moreover, the expanding population base suffering from deficiency of nutrients will accelerate the segment growth.

Based on form, the powder nutraceutical market is expected to witness robust growth at over 4.5% CAGR from 2023-2032. Nutraceutical products accessed in powder form, such as protein powders, meal replacement powders, and powdered supplements, have gained large popularity amongst consumers due to their convenience, versatility, and ease of use. Powdered nutritional product dosages are also less prone to microbial contamination as their rate of absorption and dissolution is faster when compared to other solid forms.

North America held more than 38% of the global nutraceutical market share in 2022 and is set to amass lucrative gains by the end of 2032 owing to the increasing consumer spending on plant-derived products. Furthermore, the presence of prominent F&B companies along with the surging focus of key players on the development of new products for increased sales will boost the regional industry growth