The Nutraceutical Market size was valued at USD 437.82 Billion in 2023 and the total Nutraceutical Market revenue is expected to grow at a CAGR of 5.12% from 2024 to 2030, reaching nearly USD 621 Billion.
Nutraceutical Market Overview:
This Nutraceutical market study looks at current and emerging industry trends and dynamics in the global Nutraceutical market. Nutraceutical Extensive market forecasting for the major market segments is carried out between 2024 and 2030. Extensive Nutraceutical market analysis is carried out by closely monitoring key product positions and the main competitors in the market framework. To understand the competitive landscape of the worldwide Nutraceutical market, key players are profiled and their strategies are thoroughly evaluated.
Market Scope:
The analysis contains a current examination of the present Nutraceutical market landscape, as well as the most recent trends and drivers, as well as an overview of the entire Nutraceutical market environment. Increased demand for Nutraceutical is driving the market. The Nutraceutical market research examines the technology, end-user, and type categories, among other things, as well as the geographical landscape.
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Segmentation:
Product-wise, the nutraceutical market is divided into a number of different product categories, including functional foods, dietary supplements, and functional drinks. The dietary supplements, particularly those that contain vitamins and minerals, have a substantial market share among them since they are widely used for maintaining health, preventing illness, and treating specific nutrient shortages. Globally, there is a constant demand for vitamin and mineral supplements that addresses a range of age groups and health issues. Nonetheless, probiotic pills are becoming increasingly popular in the dietary supplement market due to their acknowledged benefits for digestive health and general wellbeing.
Key Players:
The market research report provides comprehensive quantitative insights that provide a clear picture of the worldwide market potential in a variety of categories, as well as country-by-country analyses in each covered topic. The analysis investigates the market’s major influencing factors, as well as complete company profiles of
1. Abbot Laboratories
2. Amway Corporation
3. Archer Daniels Midland Company
4. Bactolac Pharmaceutical Inc
5. BASF SE,
6. Cargill
7. Chaitanya Agro Biotech Pvt. Ltd.
8. Danone SA
9. DSM
10. DuPont de Nemours, Inc.,
11. General Mills, Inc.
12. Glanbia Plc
13. GlaxoSmithKline Plc
14. Hain Celestial Group, Inc.
15. HempFlax Group BV.
16. Herbalife International of America, Inc.
Regional Analysis:
Individual market influencing variables and changes in market laws that impact present and future market trends are also included in the regional segment of the Nutraceutical market study. Data points such as downstream and upstream value chain analysis, technology trends, porter’s five forces analysis, and case studies are just a few of the indicators utilized to anticipate market scenarios for various industries. When examining projection data for the region, the existence and availability of global players, as well as the obstacles they face as a result of substantial or low to none competition from local and domestic brands, are all taken into account.
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COVID-19 Impact Analysis on Nutraceutical Market:
The COVID-19 epidemic has had a significant impact on the global Nutraceutical industry. Nutraceutical Production facilities were halted due to the global economic slump and a lack of manpower. The COVID-19 pandemic has led to a significant and extended drop in production utilization, and travel prohibitions and facility closures have kept personnel away from their facilities, causing the Nutraceutical market to decelerate in 2020. The negative impact of COVID-19 on the Nutraceutical market, on the other hand, is expected to be transitory, and the sector is expected to revive significantly by early 2023, owing to increased demand for Nutraceutical.
Key Questions Answered in the Nutraceutical Market Report are:
- Which segment was responsible for the largest share in the Nutraceutical market?
- How was the competitive scenario of the Nutraceutical market in 2023?
- Which are the key factors responsible for the Nutraceutical market growth?
- Which region held the maximum share in the Nutraceutical market in 2023?
