Global nutraceuticals market size is expected to reach $302,306 million by 2022 from $184,092 million in 2015 with a CAGR of 7.04% from 2016 to 2022.
Nutraceuticals are standardized grade of food sources derived from food sources with extra benefits in addition to basic nutritional value found in food. Integration of nutraceuticals with personal care has benefitted the market with cosmeceuticals owing to its anti-aging properties. In addition, increase in demand for nutraceutical in dietary supplements products is expected to drive the market owing to decreased use of genetically modified foods and crops. The expensive medical treatments have paved the way for nutraceuticals as an alternative to expensive drugs which is expected to boom in near future. However, production of nutraceuticals coupled with raw materials cost have increased substantially restricting the affordability of the consumers.
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Patented products of pharmaceuticals products with nutraceuticals is a lucrative delivery platform for pharmaceutical industries.
Asia-Pacific and Europe collectively contributed more than half of the share to the global nutraceuticals market revenue in 2015. India is expected to achieve a CAGR of 14.23% during the forecast period.
The top market players include Archer Daniels Midland Company, Cargill Incorporated, Royal DSM N.V., BASF SE, Nestle S.A., Groupe Danone S.A., E. I. du Pont de Nemours and Company, PepsiCo Inc., Aland (Jiangsu) Nutraceutical Co., Ltd., and General Mills, Inc.
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Key findings of the Nutraceuticals Market:
- Functional food segment is expected to grow with a CAGR of 6.84% during 20162022.
- The European branded flour market is expected to garner with a CAGR of 6.99% during the forecast period.
- LAMEA is expected to achieve a CAGR of 7.13% in proteins & peptides market during the forecast period.
- The functional food segment is the fastest growing market occupying more than one-fourth of the total volume in terms of revenue.
- The personal care and pharmaceuticals product is expected to grow with a CAGR of 7.61% during 20162022.
- Asia-Pacific occupies approximately one-third of the total volume by revenue in terms of geography.
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