Global Nutraceutical Products Market to Reach USD 652.27 billion by 2032, Aided by Rapid Urbanisation in Asia Pacific

Due to rapid urbanisation and industrialisation, the Asia Pacific region represents a significant share of the nutraceutical products industry. The increasing living standards are surging the demand for nutraceutical products, hence driving the market's growth. With the increasing emphasis on optimal gut health, the demand for nutraceutical products containing probiotics is escalating, fuelling the market's growth. The growing prevalence of various chronic illnesses and the rising healthcare costs in developing countries like India and Indonesia are also aiding the industry's growth. In addition, the rising popularity of e-commerce platforms such as Amazon and Walmart, among others, is increasing the demand for nutraceutical products, which is significantly contributing to the growth of the market.

Nestlé S.A. (OTCMKTS: NSRGY), one of the leading companies in the market, launched milk products for adults under its YIYANG Active brand in December 2020, that consists of unique ingredients to support joint functionality, muscle strength, and mobility. The product, along with physical activity, can increase the mobility of seniors with joint discomfort and thus improve their quality of life. The brand has been clinically proven to boost mobility during ageing, making it the first product with functional food approval to launch in China. The approval also marks the recognition of the excellent scientific works of the company. The product was developed by Nestle R&D and was tested in collaborations between the company and Peking University Third Hospital. The development of such innovative functional food products is surging the demand for nutraceutical products, which is providing impetus to the market's growth.

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Market Analysis by Type, Distribution Channel, Source, and Region:

• The market, based on type, can be divided into food, beverages, and dietary supplements.

• The distribution channels for nutraceutical products include conventional stores, speciality stores, drugstores and pharmacies.

• Based on source, the industry can be divided into proteins and amino acids, probiotics, phytochemicals and plant extracts, fibres and speciality carbohydrates, omega-3 fatty acids, vitamins, prebiotics, carotenoids, and minerals, among others.

• The regional markets for nutraceutical products include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• The increasing awareness regarding the importance of optimal nutrition is surging the demand for nutraceutical products, which is driving the market's growth.

• The market is being aided by the surging demand for nutraceutical beverages due to the increasing health-consciousness, increasing the consumption of nutraceutical products.

• The emerging trend of on-the-go products is surging the demand for nutraceutical snacks, driving the market for nutraceutical products.

• The increasing research and development (R&D) to determine the efficacy of nutraceutical products is providing impetus to the market's growth.

Key Offerings of the Report:

• The EMR report gives an overview of the global market for nutraceutical products for the periods (2018-2023) and (2024-2032).

• The report also offers the historical (2018-2023) and forecast (2024-2032) markets for the types, distribution channels, sources, and major regions of nutraceutical products.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global nutraceutical products market include Conagra Brands, Inc., General Mills, Inc., Nestlé S.A., Pfizer Inc., and Freedom Foods Group Limited, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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