Global Nutraceuticals Market Poised to Witness Steady Expansion at a CAGR of 7.8% until the End of 2023

Published on : Jul 04, 2018

Albany, New York, July 4, 2018: In the present time, consumers pay close attention to their everyday nutritional intake, which is reflecting expressively in the uptake of nutraceuticals. Recently, a fresh study titled “Nutraceuticals: Global Markets to 2023” has been publicized to the vast repository of Market Research Hub (MRH), which accurately predicts the future of the market and also gives an impression of the present market situation. It also offers enterprising information related to regional dynamics and the current situation of the key vendors operating in this market.

It has been well-identified that growing awareness regarding the consumption of healthy foods has resulted in increased demand for nutraceuticals across the globe. Therefore, the global nutraceutical market has grown exponentially in the last few years and this growth is expected to continue. The market is being driven by rising health concerns, an aging population and growing per capita income in developing countries such as China, India and Brazil.

Key Highlights from the Report

For a better understanding of the global market for nutraceuticals, the analysts have broadcasted the market into MEA, North America, Latin America, Asia-Pacific and Europe. Besides, country-specific data and analysis for United States, Canada, Mexico, France, Germany, U.K., Italy, Spain, China, India, Japan, and Australia have been included in the study. For each regional segment, the market size and forecast has been provided along with the CAGR (%) for the forecast period from 2018 to 2023. According to the study findings, the global nutraceutical market should surpass a valuation of $336.1 billion by 2023 from its value of worth $230.9 billion in 2018 at a compound annual growth rate of 7.8%, from 2018 to 2023.

Moving further in the study, the report highlights the drivers, restraints, and opportunities expected to influence market’s growth during the forecast period. As per the findings, rising industry regulation worldwide, new product launches and an improvement in acquisitions are enhancing global nutraceutical market growth.

The report has been further categorically divided into four key sections on the basis of product type, applications. On the basis of type, the study covers functional foods, beverages and dietary supplements. Major applications of nutraceuticals include sports and energy, GI and digestive health, memory and mental health, functional breakfast, general wellness, beauty and anti-aging, weight management, type 2 diabetes, satiety products and heart health.

As the report concludes, the study includes the profiles of key players in the global market and the strategies adopted by them to sustain in the competition.  Profiles of major market players and their core competencies in the nutraceutical market, including BASF SE, Omega Protein Corp., Cargill Inc., Mead Johnson Nutrition Co., Abbott Laboratories Inc., Nestle Nutrition, and Zymes LLC. Analysts also suggest that there are many potential opportunities to enter the global nutraceutical market.

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