Delray Beach, FL, Nov. 04, 2024 (GLOBE NEWSWIRE) -- The global nutraceutical products market size has been experiencing significant growth, with a valuation of USD 267.4 billion in 2019 and an expected compound annual growth rate (CAGR) of 7.2% from 2020 to 2025. By the end of this period, the market is projected to reach USD 404.8 billion. This robust growth can be attributed to several factors, including an increasing geriatric population, a rising prevalence of chronic diseases, and heightened consumer awareness regarding the benefits of nutraceutical products.
The Food Revolution: Projected to Lead the Nutraceutical Products Market
The food segment is anticipated to command the largest nutraceutical products market share throughout the forecast period. In 2019, this segment led the nutraceutical products market, driven by several trends, notably the growing demand for on-the-go snacks and nutritional food products. Nutraceutical snacks, which encompass a variety of items such as protein-rich snacks, dry nuts, grains, and bars, are particularly popular. Granola bars and other nutritional bars fall under this category, reflecting the consumer shift toward healthier snacking options.
The quality enhancements in these snack products, attributed to the incorporation of vitamins, minerals, proteins, dietary fibers, and fatty acids, are set to propel the growth of the snacks segment within the nutraceutical market. Consumers are increasingly opting for protein-rich food products, further stimulating market expansion.
Make an Inquiry to Address your Specific Business Needs
Asia Pacific: The Fastest Growing Market
Among the various regions, the Asia Pacific market is poised for the fastest growth in the nutraceutical products sector during the forecast period. Factors contributing to nutraceutical products industry growth include busy lifestyles, which have resulted in a surge in the consumption of convenience food products. The rapid economic development across countries in the region has also led to increased demand for fortified nutritional food and beverage products.
This region's food and beverage market is undergoing significant transformation due to urbanization, diet diversification, and the liberalization of foreign direct investment in the food sector. Moreover, rising incomes and growing purchasing power, coupled with an increasing consumer demand for nutritious and healthy products, are expected to create ample growth opportunities for manufacturers in the nutraceutical market.
The Rise of Specialty Stores: A Game Changer for Nutraceutical Products
The specialty stores segment is projected to witness the highest growth within the global nutraceutical products market. This segment includes retail businesses that focus on specific product categories rather than a broad range of offerings. Specialty stores that offer nutraceutical products, such as bakery stores, confectionery stores, and gourmet shops, are expected to experience the highest CAGR during the forecast period. The increasing availability of specialty products through these channels will further drive growth.
Conventional Stores Maintain Dominance
Despite the growth of specialty stores, the conventional stores segment is projected to account for the largest market share during the forecast period. Conventional stores, which encompass grocery stores, mass merchandisers, warehouse clubs, and online retailers, offer easy accessibility and economical pricing, making them a popular choice for consumers seeking nutraceutical products.
As the global nutraceutical products market continues to expand, driven by demographic changes, health consciousness, and evolving consumer preferences, various segments will witness varying growth trajectories. The food segment, particularly snacks, is set to dominate, while the Asia Pacific region leads in growth potential.
Unlock Business Growth with Custom Data Tailored for You
The Nutraceutical Revolution: How Functional Foods Are Changing Health Trends
In recent years, the health and wellness landscape has undergone a profound transformation, with nutraceuticals—functional foods and dietary supplements—taking center stage. This shift has been driven by a combination of rising health consciousness, a growing geriatric population, and increasing chronic disease prevalence. As consumers seek more effective and convenient ways to improve their health, functional foods are emerging as a vital component of their diets.
The Shift Towards Functional Foods
Nutraceutical Products Market Trends
Top Nutraceutical Products Companies
Your Guide to Nutraceuticals: Let Us Help You Understand
About MarketsandMarkets™
MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
Contact:
Mr. Rohan Salgarkar
MarketsandMarkets Inc.
1615 South Congress Ave.
Suite 103, Delray Beach, FL 33445
USA : 1-888-600-6441
UK +44-800-368-9399
Email: sales@marketsandmarkets.com
Visit Our Website: https://www.marketsandmarkets.com/