market size of nutraceutical products is estimated at USD 454.55 billion in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 9.0% from 2021-2030.
Fortified foods called nutraceuticals serve as supplements in the treatment and prevention of disease. Pharmaceuticals and nutrition are combined to create nutraceuticals. These goods are not, however, as rigorously examined and controlled as pharmaceutical pharmaceuticals. Nutraceutical products are used in the treatment of diabetes, osteoporosis, depression, cough, digestion, sleep difficulties, and colds.
Depending on the source, many terms are used to describe nutraceuticals and related products. These products can be categorised based on their chemical make-up, medicinal conditions, and natural sources. Pharmaceuticals, functional foods, medical foods, and dietary supplements are the four main classifications of nutraceuticals. Due to their potential effects on nutrition, safety, and health, nutraceuticals have attracted a lot of attention recently. Numerous biological processes, including antioxidant defences, cell growth, gene function, and mitochondrial integrity, may be influenced by these substances.
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Key Companies Insights
Key players are focusing on technology collaborations, partnerships, mergers and acquisitions strategies to gain competitive advantage and expand product portfolios and business footprints. In addition, constant research and development bring innovative products to market. For example, in December 2020, Abbott introduced his new Pedialyte hydration solution. This product contains a variety of nutrients including probiotics, vitamin C, vitamin B12, vitamin E and zinc. Developed to support the consumer’s immune system. Abbott expanded his Pedialyte product portfolio with new products and expanded his customer base.
Some of the key players operating in the global nutraceutical products market include:
- Ajinomoto CO. INC.
- Archer Daniels Midland Company
- Arla Foods
- Associated British Foods plc
- Barilla Group
- BASF SE
- Cargill, Incorporated
- Chr. Hansen Holding A/S
- DuPont de Nemours, Inc.
- Fonterra Co-operative Group Limited
- Freedom Food Group Limited
- General Mills
- Glanbia PLC
- Ingredion Incorporated
- Kerry Inc.
- Koninklijke DSM N.V.
- Kraft Heinz Company
- Pfizer Inc.
- Tate & Lyle PLC
- The Hain Celestial Group
- Other Players
- Proteins & amino acids
- Phytochemicals & plant extracts
- Fibers & Specialty carbohydrates
- Omega-3 fatty acids
- Others (Glucosamine, chondroitin, and polyols)
o Confectionery products
o Bakery products
o Dairy products
o Infant products
o Health drinks
o Energy drinks
- Dietary Supplements
o Others (Soft gels, gummies, and chewable products)
By Distribution Channel
- Hypermarket & Supermarket
- Convenience Store
- Specialty Retail Store
- Online Retail
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