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

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Nutraceutical Products Market

Global Nutraceutical Products Market Share, Forecast: By Type: Food, Beverages, Dietary Supplements; By Distribution Channel: Conventional Stores, Speciality Stores, Drugstores and Pharmacies; By Source: Proteins and Amino Acids, Probiotics, Phytochemicals and Plant Extracts, Others; Regional Analysis; Competitive Landscape; 2024-2032

Global Nutraceutical Products Market Outlook

The global nutraceutical products market attained a value of about USD 351.82 billion in 2023. The market is further expected to grow in the forecast period of 2024-2032 at a CAGR of 7.10% to reach nearly USD 652.27 billion by 2032.

 

Increasing Awareness Regarding the Significance of Optimal Nutrition Driving the Market for Pharmaceutical Products

The growing awareness regarding the importance of optimal nutrition is propelling the growth of the nutraceutical products industry. With the growing prevalence of chronic diseases, the demand for nutraceutical products is increasing, hence driving the market growth.

 

Global Nutraceutical Products Market

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The market growth can be attributed to the increasing healthcare costs, especially in developing countries, which, in turn, is bolstering the use of nutraceutical products as preventative healthcare. The growing preference for alternatives to over-the-counter prescription drugs and medications is surging the demand for nutraceutical products, which is propelling the growth of the market. As the focus on holistic wellbeing is surging, the demand for nutraceutical products is rapidly growing.

 

Rising Demand for Nutraceutical Beverages Bolstering the Market Growth of Nutraceutical Products

The growing demand for nutraceutical beverages owing to the rising inclination towards a healthy lifestyle is driving the market growth. As the consumption of energy drinks and functional beverages is increasing, the market for nutraceutical products is witnessing robust growth. The increasing popularity of beverages containing antioxidants, minerals, and vitamins, among others, is driving the market growth. Nutraceutical beverages are increasingly consumed for their beauty offerings and anti-ageing effects, which is significantly contributing to the market growth. Moreover, the increasing innovations to enhance the solubility of nutraceutical beverages to boost product stability and nutritional composition is expected to bolster the market growth in the forecast period.

 

Nutraceutical Products: Market Segmentation

Nutraceutical products refer to fortified food products or food that provide numerous health benefits and aid in the treatment of various diseases. They are typically derived from minerals, herbs, vitamins, and dietary products that boost immunity against diseases. They consist of food and beverages and are consumed as preventive healthcare measures to reduce the burden on the healthcare sector.

 

Global Nutraceutical Products Market

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The major types of nutraceutical products are:

  • Food
  • Beverages
  • Dietary Supplements

The food segment is further divided into snacks, confectionery products, bakery products, dairy products, and infant nutrition products, whereas the beverages segment is classified into health drinks, energy drinks, and juices. Meanwhile, the dietary supplements segment is further categorised into tablets, liquid, and powder, among others.

The market can be broadly categorised on the basis of its distribution channels into:

  • Conventional Stores
  • Speciality Stores
  • Drugstores and Pharmacies

The conventional stores segment can be segmented into grocery stores, mass merchandisers, warehouse clubs, and online retailers, whereas the speciality stores segment is divided into bakery stores, confectionery stores, gourmet stores, health centres, and cosmetic stores.

Based on sources, the market is classified into:

  • Proteins and Amino Acids
  • Probiotics
  • Phytochemicals and Plant Extracts
  • Fibres and Speciality Carbohydrates
  • Omega-3 Fatty Acids
  • Vitamins
  • Prebiotics
  • Carotenoids
  • Minerals
  • Others

The EMR report looks into the regional markets of nutraceutical products like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

Global Nutraceutical Products Market

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Growing Demand for Nutraceutical Snacks to Augment the Growth of the Nutraceutical Products Industry

With the growing demand for convenience and the emerging trend of on-the-go products, the demand for nutraceutical snacks is significantly surging. The increasing emphasis on snacking that provides nutritional boom by the health-conscious consumers is escalating the demand for protein bars, granola bars, and dry nuts, among others, hence fuelling the industry growth. As consumers are increasingly preferring snacking with innovative flavours and textures, leading companies are launching innovative nutraceutical snacks to bolster the flavour profile while offering various health benefits. In addition, the emerging trend of personalised medicines and genomics are predicted to provide further impetus to the growth of the nutraceutical products industry in the forecast period.

As the rising prevalence of indigestion, celiac diseases, and various gut-health issues is increasing, the demand for nutraceutical products, notably containing probiotics, is significantly surging. The increasing research and development (R&D) activities to determine the scientific benefits of nutraceutical products are invigorating the market growth. The potential development of innovative nutraceutical products that can promote holistic wellbeing is projected to propel the growth of the market. With the increasing collaborations of pharmaceuticals and food companies to develop nutraceutical products as preventive medicines, the market is poised to witness robust growth in the coming years.

 

Key Industry Players in the Global Nutraceutical Products Market

The report presents a detailed analysis of the following key players in the global nutraceutical products market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

  • Conagra Brands, Inc.
  • General Mills, Inc.
  • Nestlé S.A.
  • Pfizer Inc.
  • Freedom Foods Group Limited
  • Others

The comprehensive report looks into the macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Type
  • Distribution Channel
  • Source 
  • Region
Breakup by Type 
  • Food
  • Beverages
  • Dietary Supplements
Breakup by Distribution Channel
  • Conventional Stores
  • Speciality Stores
  • Drugstores and Pharmacies
Breakup by Source 
  • Proteins and Amino Acids
  • Probiotics
  • Phytochemicals and Plant Extracts
  • Fibres and Speciality Carbohydrates
  • Omega-3 Fatty Acids
  • Vitamins
  • Prebiotics
  • Carotenoids
  • Minerals
  • Others
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Conagra Brands, Inc.
  • General Mills, Inc.
  • Nestlé S.A.
  • Pfizer Inc.
  • Freedom Foods Group Limited
  • Others
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description
    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary
    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Snapshot
    6.1    Global
    6.2    Regional
7    Opportunities and Challenges in the Market
8    Global Nutraceutical Products Market Analysis
    8.1    Key Industry Highlights
    8.2    Global Nutraceutical Products Historical Market (2018-2023) 
    8.3    Global Nutraceutical Products Market Forecast (2024-2032)
    8.4    Global Nutraceutical Products Market by Type 
        8.4.1    Food
            8.4.1.1    Historical Trend (2018-2023)
            8.4.1.2    Forecast Trend (2024-2032)
            8.4.1.3    Breakup by Type
                8.4.1.3.1    Snacks
                8.4.1.3.2    Confectionery Products
                8.4.1.3.3    Bakery Products
                8.4.1.3.4    Dairy Products
                8.4.1.3.5    Infant Nutrition Products
        8.4.2    Beverages
            8.4.2.1    Historical Trend (2018-2023)
            8.4.2.2    Forecast Trend (2024-2032)
            8.4.2.3    Breakup by Type
                8.4.2.3.1    Health Drinks
                8.4.2.3.2    Energy Drinks
                8.4.2.3.3    Juices
        8.4.3    Dietary Supplements
            8.4.3.1    Historical Trend (2018-2023)
            8.4.3.2    Forecast Trend (2024-2032)
            8.4.3.3    Breakup by Type
                8.4.3.3.1    Tablets
                8.4.3.3.2    Liquid
                8.4.3.3.3    Powder
                8.4.3.3.4    Others
    8.5    Global Nutraceutical Products Market by Distribution Channel
        8.5.1    Conventional Stores
            8.5.1.1    Historical Trend (2018-2023)
            8.5.1.2    Forecast Trend (2024-2032)
            8.5.1.3    Breakup by Type
                8.5.1.3.1    Grocery Stores
                8.5.1.3.2    Mass Merchandisers
                8.5.1.3.3    Warehouse Clubs
                8.5.1.3.4    Online Retailers
        8.5.2    Speciality Stores
            8.5.2.1    Historical Trend (2018-2023)
            8.5.2.2    Forecast Trend (2024-2032)
            8.5.2.3    Breakup by Type
                8.5.2.3.1    Bakery Stores
                8.5.2.3.2    Confectionery Stores
                8.5.2.3.3    Gourmet Stores
                8.5.2.3.4    Health Centres
                8.5.2.3.5    Cosmetic Stores
        8.5.3    Drugstores and Pharmacies
            8.5.3.1    Historical Trend (2018-2023)
            8.5.3.2    Forecast Trend (2024-2032)
    8.6    Global Nutraceutical Products Market by Source 
        8.6.1    Proteins and Amino Acids
            8.6.1.1    Historical Trend (2018-2023)
            8.6.1.2    Forecast Trend (2024-2032)
        8.6.2    Probiotics
            8.6.2.1    Historical Trend (2018-2023)
            8.6.2.2    Forecast Trend (2024-2032)
        8.6.3    Phytochemicals and Plant Extracts
            8.6.3.1    Historical Trend (2018-2023)
            8.6.3.2    Forecast Trend (2024-2032)
        8.6.4    Fibres and Speciality Carbohydrates
            8.6.4.1    Historical Trend (2018-2023)
            8.6.4.2    Forecast Trend (2024-2032)
        8.6.5    Omega-3 Fatty Acids
            8.6.5.1    Historical Trend (2018-2023)
            8.6.5.2    Forecast Trend (2024-2032)
        8.6.6    Vitamins
            8.6.6.1    Historical Trend (2018-2023)
            8.6.6.2    Forecast Trend (2024-2032)
        8.6.7    Prebiotics
            8.6.7.1    Historical Trend (2018-2023)
            8.6.7.2    Forecast Trend (2024-2032)
        8.6.8    Carotenoids
            8.6.8.1    Historical Trend (2018-2023)
            8.6.8.2    Forecast Trend (2024-2032)
        8.6.9    Minerals
            8.6.9.1    Historical Trend (2018-2023)
            8.6.9.2    Forecast Trend (2024-2032)
        8.6.10    Others
    8.7    Global Nutraceutical Products Market by Region       
        8.7.1    North America
            8.7.1.1    Historical Trend (2018-2023) 
            8.7.1.2    Forecast Trend (2024-2032)
        8.7.2    Europe
            8.7.2.1    Historical Trend (2018-2023) 
            8.7.2.2    Forecast Trend (2024-2032)
        8.7.3    Asia Pacific
            8.7.3.1    Historical Trend (2018-2023) 
            8.7.3.2    Forecast Trend (2024-2032)
        8.7.4    Latin America
            8.7.4.1    Historical Trend (2018-2023) 
            8.7.4.2    Forecast Trend (2024-2032)
        8.7.5    Middle East and Africa
            8.7.5.1    Historical Trend (2018-2023) 
            8.7.5.2    Forecast Trend (2024-2032)
9    North America Nutraceutical Products Market Analysis
    9.1    United States of America 
        9.1.1    Historical Trend (2018-2023) 
        9.1.2    Forecast Trend (2024-2032)
    9.2    Canada
        9.2.1    Historical Trend (2018-2023) 
        9.2.2    Forecast Trend (2024-2032)
10    Europe Nutraceutical Products Market Analysis
    10.1    United Kingdom
        10.1.1    Historical Trend (2018-2023) 
        10.1.2    Forecast Trend (2024-2032)
    10.2    Germany
        10.2.1    Historical Trend (2018-2023) 
        10.2.2    Forecast Trend (2024-2032)
    10.3    France
        10.3.1    Historical Trend (2018-2023) 
        10.3.2    Forecast Trend (2024-2032)
    10.4    Italy
        10.4.1    Historical Trend (2018-2023) 
        10.4.2    Forecast Trend (2024-2032)
    10.5    Others
11    Asia Pacific Nutraceutical Products Market Analysis
    11.1    China
        11.1.1    Historical Trend (2018-2023) 
        11.1.2    Forecast Trend (2024-2032)
    11.2    Japan
        11.2.1    Historical Trend (2018-2023) 
        11.2.2    Forecast Trend (2024-2032)
    11.3    India
        11.3.1    Historical Trend (2018-2023) 
        11.3.2    Forecast Trend (2024-2032)
    11.4    ASEAN
        11.4.1    Historical Trend (2018-2023) 
        11.4.2    Forecast Trend (2024-2032)
    11.5    Australia
        11.5.1    Historical Trend (2018-2023) 
        11.5.2    Forecast Trend (2024-2032)
    11.6    Others
12    Latin America Nutraceutical  Products Market Analysis
    12.1    Brazil
        12.1.1    Historical Trend (2018-2023) 
        12.1.2    Forecast Trend (2024-2032)
    12.2    Argentina
        12.2.1    Historical Trend (2018-2023) 
        12.2.2    Forecast Trend (2024-2032)
    12.3    Mexico
        12.3.1    Historical Trend (2018-2023) 
        12.3.2    Forecast Trend (2024-2032)
    12.4    Others
13    Middle East and Africa Nutraceutical Products Market Analysis
    13.1    Saudi Arabia
        13.1.1    Historical Trend (2018-2023) 
        13.1.2    Forecast Trend (2024-2032)
    13.2    United Arab Emirates
        13.2.1    Historical Trend (2018-2023) 
        13.2.2    Forecast Trend (2024-2032)
    13.3    Nigeria
        13.3.1    Historical Trend (2018-2023) 
        13.3.2    Forecast Trend (2024-2032)
    13.4    South Africa
        13.4.1    Historical Trend (2018-2023) 
        13.4.2    Forecast Trend (2024-2032)
    13.5    Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price
15    Competitive Landscape
    15.1    Market Structure
    15.2    Company Profiles
         15.2.1    Conagra Brands, Inc.
            15.2.1.1    Company Overview
            15.2.1.2    Product Portfolio
            15.2.1.3    Demographic Reach and Achievements
            15.2.1.4    Certifications
        15.2.2    General Mills, Inc.
            15.2.2.1    Company Overview
            15.2.2.2    Product Portfolio
            15.2.2.3    Demographic Reach and Achievements
            15.2.2.4    Certifications
        15.2.3    Nestlé S.A.
            15.2.3.1    Company Overview
            15.2.3.2    Product Portfolio
            15.2.3.3    Demographic Reach and Achievements
            15.2.3.4    Certifications
        15.2.4    Pfizer Inc.
            15.2.4.1    Company Overview
            15.2.4.2    Product Portfolio
            15.2.4.3    Demographic Reach and Achievements
            15.2.4.4    Certifications
        15.2.5    Freedom Foods Group Limited
            15.2.5.1    Company Overview
            15.2.5.2    Product Portfolio
            15.2.5.3    Demographic Reach and Achievements
            15.2.5.4    Certifications
        15.2.6    Others
16    Key Trends and Developments in the Market


List of Key Figures and Tables

1.    Global Nutraceutical Products Market: Key Industry Highlights, 2018 and 2032
2.    Global Nutraceutical Products Historical Market: Breakup by Type (USD Billion), 2018-2023
3.    Global Nutraceutical Products Market Forecast: Breakup by Type (USD Billion), 2024-2032
4.    Global Nutraceutical Products Historical Market: Breakup by Distribution Channel (USD Billion), 2018-2023
5.    Global Nutraceutical Products Market Forecast: Breakup by Distribution Channel (USD Billion), 2024-2032
6.    Global Nutraceutical Products Historical Market: Breakup by Source (USD Billion), 2018-2023
7.    Global Nutraceutical Products Market Forecast: Breakup by Source (USD Billion), 2024-2032
8.    Global Nutraceutical Products Historical Market: Breakup by Region (USD Billion), 2018-2023
9.    Global Nutraceutical Products Market Forecast: Breakup by Region (USD Billion), 2024-2032
10.    North America Nutraceutical Products Historical Market: Breakup by Country (USD Billion), 2018-2023
11.    North America Nutraceutical Products Market Forecast: Breakup by Country (USD Billion), 2024-2032
12.    Europe Nutraceutical Products Historical Market: Breakup by Country (USD Billion), 2018-2023
13.    Europe Nutraceutical Products Market Forecast: Breakup by Country (USD Billion), 2024-2032
14.    Asia Pacific Nutraceutical Products Historical Market: Breakup by Country (USD Billion), 2018-2023
15.    Asia Pacific Nutraceutical Products Market Forecast: Breakup by Country (USD Billion), 2024-2032
16.    Latin America Nutraceutical Products Historical Market: Breakup by Country (USD Billion), 2018-2023
17.    Latin America Nutraceutical Products Market Forecast: Breakup by Country (USD Billion), 2024-2032
18.    Middle East and Africa Nutraceutical Products Historical Market: Breakup by Country (USD Billion), 2018-2023
19.    Middle East and Africa Nutraceutical Products Market Forecast: Breakup by Country (USD Billion), 2024-2032
20.    Global Nutraceutical Products Market Structure

Key Questions Answered in the Report

What was the global nutraceutical products market size in 2023?

In 2023, the global nutraceutical products market attained a value of nearly USD 351.82 billion.

What is the growth rate of the market?

The market is projected to grow at a CAGR of 7.10% between 2024 and 2032.

What is the forecast outlook of the market for 2024-2032?

The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach about USD 652.27 billion by 2032.

What are the major industry drivers?

The market is being aided by the growing awareness regarding the importance of optimal nutrition, the increasing healthcare costs, and the rising demand for nutraceutical beverages.

What are the key industry trends of the global nutraceutical products market?

The industry is projected to be propelled by the increasing demand for nutraceutical snacks, the rising prevalence of indigestion, and the increasing research and development (R&D) activities, to determine the efficacy of nutraceutical products.

What are the major regional markets of nutraceutical products, according to the EMR report?

The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

What are the major types of nutraceutical products in the industry?

The major types of nutraceutical products in the industry are food, beverages, and dietary supplements.

What are the significant distribution channels of nutraceutical products?

The significant distribution channels in the market are conventional stores, speciality stores, and drugstores and pharmacies.

What are the various sources of nutraceutical products?

The various sources of nutraceutical products are proteins and amino acids, probiotics, phytochemicals and plant extracts, fibres and speciality carbohydrates, omega-3 fatty acids, vitamins, prebiotics, carotenoids, and minerals, among others.

Who are the key industry players, according to the report?

The major players in the industry are Conagra Brands, Inc., General Mills, Inc., Nestlé S.A., Pfizer Inc., and Freedom Foods Group Limited, among others.

Analyst Review

The global nutraceutical products market attained a value of nearly USD 351.82 billion in 2023, driven by the growing awareness regarding the importance of optimal nutrition. Aided by the increasing demand for nutraceutical snacks and the rising prevalence of indigestion, the market is expected to witness a further growth in the forecast period of 2024-2032, growing at a CAGR of 7.10%. The market is projected to reach about USD 652.27 billion by 2032.

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on its types, the nutraceutical products industry can be segmented into food, beverages, and dietary supplements. On the basis of distribution channels, the industry is divided into conventional stores, speciality stores, and drugstores and pharmacies. By source, the market is classified 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 major regional markets for nutraceutical products are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Conagra Brands, Inc., General Mills, Inc., Nestlé S.A., Pfizer Inc., and Freedom Foods Group Limited, among others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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