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Nutraceutical Market Trends

Report ID: GMI5297
Published Date: Jun 2023
Report Format: PDF

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Nutraceutical Market Trends

The rising trend of athletes participating in sport activities at international and national levels is anticipated to drive the demand for nutraceutical products. As consumer demand for natural and functional food and beverages is increasing, manufacturers are introducing innovative nutraceutical products to cater to diverse preferences. The rapid advancements in R&D have enabled the discovery of novel bioactive compounds with potential health benefits, further driving product innovations. Moreover, effective marketing strategies and the ongoing introduction of new and exciting offerings will augment the market outlook

Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

Market size for nutraceutical exceeded USD 423 billion in 2022 and is poised to depict over 4.5% CAGR from 2023 to 2032 owing to the rising incidence rate of metabolic ailments globally.

Demand for powdered nutraceuticals is expected to witness over 4.5% CAGR from 2023-2032 attributed to their growing consumer preference due to their convenience, versatility, and ease of use.

North America accounted for more than 38% of the nutraceutical industry revenue share in 2022 and is poised to record lucrative gains through 2032 driven by the rising consumer spending on plant-derived products.

Some top enterprises operating in the global nutraceutical industry are Amway Corporation, Herbalife International of America, Inc., Kraft Heinz, Kellogg’s, Agro Tech, PepsiCo, Nestle S.A., Abbott, Danone, Zesty Paws, Nutramax Laboratories, Inc., Charlotte's Web, and HempFlax Group BV.