Nutraceutical Products Market Worth $691.87 Billion by 2030

Nutraceutical Products Market by Type (Functional Food {Confectionery Products, Dairy Products}, Functional Beverages, Dietary Supplements), Source (Vitamin, Mineral), Distribution Channel (Specialty Stores, E-commerce) - Global Forecast to 2030

Meticulous Research^®—a leading global market research company, published a research report titled, ‘Nutraceutical Products Market by Type (Functional Food {Confectionery Products, Dairy Products}, Functional Beverages, Dietary Supplements), Source (Vitamin, Mineral), Distribution Channel (Specialty Stores, E-commerce) - Global Forecast to 2030.’

According to this latest publication from Meticulous Research^®, in terms of value, the nutraceutical products market is projected to reach $691.87 billion by 2030, at a CAGR of 7.8% from 2023 to 2030. Growing demand for dietary supplements and functional foods, rising awareness about nutraceutical products, increasing geriatric population, and increasing prevalence of metabolic disorders are some of the factors expected to drive the growth of the nutraceutical products market. Moreover, technological innovations and rising demand for integrated functional and medical food products provide opportunities for stakeholders in this market.

Regulatory complexity and the threat of counterfeit dietary supplements are challenging the growth of the nutraceuticals products market. However, the higher cost of fortified food & beverage products due to the inclusion of healthier and naturally sourced ingredients is hindering the growth of this market to a certain extent.

The nutraceutical products market is segmented by type (functional food {bakery products, confectionery products, snacks, dairy products, infant food products, and other functional foods}, functional beverages {energy drinks, sports drinks, fortified juices, dairy-based beverages, and other functional beverages}, and dietary supplements {tablets, liquid, powder, and other forms}), source (vitamins, proteins and amino acids, probiotics, minerals, omega-3 fatty acids, fibers & specialty carbohydrates, prebiotic, phytochemical & plant extracts, and other sources), and distribution channel (supermarkets & hypermarkets, convenience stores, specialty stores, pharmacies and drug stores, e-commerce, and other distribution channels). The study also evaluates industry competitors and analyzes the regional and country-level markets.

Based on type, the nutraceutical products market is primarily segmented into functional food, functional beverages, and dietary supplements. In 2023, the functional food segment is expected to account for the largest share of the global nutraceutical products market. The large market share of this segment is attributed to the growing demand for nutritional and fortifying food products and increased consumer knowledge about their health advantages. Nowadays, consumers are drawn to foods with functional ingredients to lower the risk of specific health concerns, such as obesity, weight loss, diabetes, and cardiovascular disease, which further supports this segment’s large market share.

Based on source, the nutraceutical products market is segmented into vitamins, proteins and amino acids, probiotics, minerals, omega-3 fatty acids, fibers & specialty carbohydrates, prebiotics, phytochemical & plant extracts, and other sources. In 2023, the vitamins segment is expected to account for the largest share of the global nutraceutical products market due to the growing number of vitamin deficiency cases among young adults, adolescents, and children. Moreover, increasing demand for immunity-boosting products is further expected to support the large market share of this segment.

Based on distribution channel, the nutraceutical products market is segmented into supermarkets & hypermarkets, convenience stores, specialty stores, pharmacies and drug stores, e-commerce, and other distribution channels. The e-commerce segment is projected to register the highest CAGR during the forecast period of 2023–2030. The growth of this segment is attributed to the benefits offered by the e-commerce sales channels, such as the availability of a wide variety of products, easy accessibility and affordability, comparatively higher discounts than offline stores, and home delivery service.

Geogrpahic Review

This research report also analyzes major geographies and provides a comprehensive analysis of the market in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Asia-Pacific is slated to register the highest CAGR during the forecast period of 2023–2030 owing to the growing demand for dietary supplements in China, Japan, and India; rising consumer health awareness for nutritional products; increasing disposable incomes; rapid urbanization; and rising health wellness trend.

Key Players

The key players operating in the nutraceutical products market include Abbott Laboratories (U.S.), Amway Corp (U.S.), Cargill, Incorporated (U.S.), Conagra Brands, Inc. (U.S.), Danone S.A. (France), Herbalife Nutrition Ltd. (U.S.), General Mills Inc. (U.S.), Glanbia plc (Ireland), Herbalife Nutrition Ltd. (U.S.), International Flavors & Fragrances Inc. (U.S.), Kellogg Company (U.S.), Kerry Group plc. (Ireland), Koninklijke DSM N.V. (The Netherlands), Nestle S.A. (Switzerland), and PepsiCo, Inc. (U.S.).

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Key Questions Answered in the Report:

Which are the high-growth market segments in terms of type, source, distribution channel, and region/country?
What was the historical market size for nutraceutical products across the globe?
What are the market forecasts and estimates for 2023–2030?
What are the major drivers, restraints, opportunities, and challenges in the nutraceutical products market?
Who are the major players in the nutraceutical products market?
How is the competitive landscape, and who are the market leaders in the nutraceutical products market?
What are the recent developments in the nutraceutical products market?
What are the geographical trends and high-growth regions/countries?
Who are the local emerging players in the nutraceutical products market, and how do they compete with the global players?

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