Nutraceuticals Market Size
Global Nutraceuticals Market reached US$ 443.1 billion in 2023 and is expected to reach US$ 684.2 billion by 2031, growing with a CAGR of 5.58% during the forecast period 2024-2031.
Increasing consumer awareness about the benefits of a healthy lifestyle has led to greater demand for health supplements, particularly among aging populations who prioritize wellness. The rising incidence of lifestyle-related chronic diseases has also emphasized the need for preventive care through dietary choices. Additionally, the growth of e-commerce has made nutraceuticals more accessible to consumers, facilitating their purchase.
The market is poised for further expansion, with trends such as personalized nutrition based on individual genetic and lifestyle factors, a heightened focus on sustainability and ongoing innovation in product development. For instance, in July 2024, Renewtra has launched as a new brand in India’s nutraceutical industry, aiming to revolutionize the market with its clinically proven, transparent-label products.
High rates of diabetes and obesity in US drive North America's dominance in the global nutraceuticals market. With approximately 37.3 million Americans having diabetes and over 41.9% of adults classified as obese, there is a growing demand for supplements and functional foods. As health-conscious consumers seek effective solutions, North America remains a leader in the nutraceutical industry.
Market Scope
| Metrics | Details |
| CAGR | 5.58% |
| Size Available for Years | 2022-2031 |
| Forecast Period | 2024-2031 |
| Data Availability | Value (US$) |
| Segments Covered | Type, Product, Source, Distribution Channel, Application and Region |
| Regions Covered | North America, Europe, Asia-Pacific, South America and Middle East & Africa |
| Fastest Growing Region | Asia-Pacific |
| Largest Region | North America |
| Report Insights Covered | Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, Porter’s Analysis, Pricing Analysis, Regulatory Analysis, Supply-Chain Analysis and Other key Insights. |
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Market Dynamics
Rising prevalence of chronic diseases
Nutraceuticals have emerged as health-promoting agents in recent times, although they don’t directly treat or cure the condition, they improve the clinical outcomes in chronic disease patients. They also promote the health in normal individuals upon regular consumption by promoting immune health and preventing the occurrence of deficiency disorders.
For instance, the World Health Organization (WHO), estimated that cardiovascular diseases are the leading cause of death globally, taking an estimated 17.9 million lives each year. CVDs are a group of disorders of the heart and blood vessels and include coronary heart disease, cerebrovascular disease, rheumatic heart disease, and other conditions. More than four out of five CVD deaths are due to heart attacks and strokes, and one-third of these deaths occur prematurely in people under 70 years of age.
According to the Centers for Disease Control and Prevention (CDC), nearly 129 million U.S. population suffer from one type of chronic disease, and the common ones include heart disease, cancer, diabetes, obesity, and hypertension. Moreover, nearly 42% of the U.S. population has more than 2 chronic conditions, and 12% of the population has more than 5 chronic conditions.
According to the European Federation of Pharmaceutical Industries and Associations (EFPIA), almost one-third of people aged over 15 years report living with two or more chronic non-communicable diseases (NCDs), and the total health and economic cost of NCDs in the EU is projected to increase by over 70% by 2050.
With the rising prevalence of patients with chronic conditions, and heightening awareness among these individuals regarding the health benefits of nutraceuticals, the demand is expected to rise in the forecasted period.
Innovative Regulatory Approvals And Enhanced Formulations
The global nutraceutical market is driven by innovative regulatory approvals and enhanced formulations. In November 2022, Geno's launch of Avela natural (R)-1,3-Butanediol provides a sugar-free ingredient that elevates beta-hydroxybutyrate levels, enhancing mental clarity and athletic performance without requiring restrictive diets. Derived from plant sugars through sustainable fermentation, Avela aligns with the increasing consumer demand for natural products.
Additionally, regulatory approvals, such as the European Commission’s endorsement of Carbopol Polymers, in October 2023, enable the creation of innovative, easier-to-swallow formulations. Together, these advancements cater to diverse consumer needs and preferences, driving the evolution of functional foods and positioning the nutraceutical market for sustained growth.
Diverse Regulatory Frameworks
The global nutraceuticals market faces significant restraints due to diverse regulatory frameworks. Each country has its classification criteria, considering different product perceptions from one region to another. This inconsistency complicates compliance, forcing companies to allocate time and resources to navigate various regulations. Additionally, strict marketing guidelines in some areas limit the health claims that can be made, hindering companies' ability to attract consumers.
Market Segmentation - By Product Type
Dietary Supplements
Dietary supplements in the global nutraceuticals market was valued at US$ XX million in 2023 and is estimated to reach US$ XX million by 2031, growing at a CAGR of XX% during the forecast period from 2024-2031.
Dietary supplements include products like vitamins and mineral supplements, protein supplements, herbal supplements, etc. are widely used by the population worldwide. These dietary supplements are consumed by various population groups daily to promote their health and well-being.
Increasing consumer awareness about the benefits of a healthy lifestyle has led to greater demand for health supplements, particularly among aging populations who prioritize wellness. The rising incidence of lifestyle-related chronic diseases has also emphasized the need for preventive care through dietary choices. One of the recent global health emergencies – Covid-19 has heightened the awareness among consumers regarding the implication of dietary supplements on health protection and promotion.
As per a recent study published in the Nutrients journal in July 2023, stated that consumers across the globe have become more aware of and concerned about their health in recent years due to rising societal medical knowledge and living standards. Vitamins remain the most consumed dietary supplements globally, and their usage has peaked during the COVID-19 pandemic.
As consumers become aware of the health benefits, they prefer to continuously take them to maintain a healthy lifestyle.
A recent survey conducted by The Council for Responsible Nutrition (CRN) in 2023, has stated that 74 percent of U.S. adults taking dietary supplements and 55 percent of the general population regularly consume dietary supplements. CRN has stated that 92% of users have agreed that dietary supplements are essential for promoting health.
Market Geographical Share
Rising Health Consciousness Among North American Population
North America dominates the global nutraceuticals market. A high level of consumer awareness regarding wellness strongly supports North America's leadership in the worldwide market. The 2023 CRN Consumer Survey on Dietary Supplements reveals that 74% of US adults take dietary supplements, with 55% classified as regular users. This significant adoption enhances the vital role that supplements play in the daily health routines of Americans.
The widespread usage reflects a robust commitment to preventive health measures and a growing recognition of the benefits of nutraceuticals, driver market dominance, bolstered by effective education initiatives, a diverse range of product offerings health and a supportive regulatory environment. As reliance on dietary supplements continues to rise, it aligns with the broader movement towards holistic health, further solidifying their essential place in everyday life.
Market Competitive Landscape
The major global players in the market include Danone S.A., Glanbia plc, Nestle S.A., Bayer AG, Abbott Nutrition, GNC Holdings, LLC, Garden of Life, NOW Foods, Kellanova and Parry Nutraceuticals Limited.
Nestle S.A. – Overview
Nestlé is a global nutrition, health, and wellness company focusing on both the human and pet populations.
The company offers its products in different categories such as powdered and liquid beverages, pet care, nutrition, and health science, prepared dishes and cooking aids, milk products and ice cream, confectionery, and water.
The Powdered liquid beverages is the major segment of Nestlé, generating approximately 26.7% of the total company’s revenue. It includes brands such as Nescafe, Nesquik, Nespresso, Milo, Blue Bottle Coffee, Nescau, Nestea, etc.
Among the nutrition and health science segment, the major brands are Nestlé NAN, Ilumina, Gerben, Solgar, Vital Protein, Vitaflo, Pure Encapsulations, Zenpep, Cerelac, BEBA and many more.
Russia-Ukraine War Impact
The Russia-Ukraine war has impacted the global nutraceuticals market by disrupting supply chains and causing fluctuations in raw material prices. Shortages of key agricultural products have increased costs and affected availability. Additionally, geopolitical tensions have led companies to rethink sourcing strategies, while rising consumer interest in health and wellness has driven demand for nutraceuticals.
By Type
- Herbals
- Proteins & Peptides
- Vitamins & Minerals
- Prebiotics and Probiotics
- Others (Fatty Acids and Fiber)
By Product
- Functional Food
- Cereal
- Bakery and Confectionary
- Dairy
- Snack
- Other
- Functional Beverages
- Energy Drinks
- Dairy & Dairy Alternative Drinks
- Fruit & Vegetable Juices and Drinks
- Noncarbonated Drinks
- Other
- Dietary Supplements
- Tablets
- Liquid
- Powder
- Others
- Personal Care
By Source
- Plant-Based
- Animal-Based
- Microbial
By Distribution Channel
- Supermarkets/Hypermarkets
- Convenience Stores
- Specialty Stores
- Drug Stores/Pharmacies
- Online Retail Stores
- Other
By Application
- Health and Wellness
- Sports Nutrition
- Clinical Nutrition
By Region
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Rest of Europe
- South America
- Brazil
- Argentina
- Rest of South America
- Asia-Pacific
- China
- India
- Japan
- Australia
- Rest of Asia-Pacific
- Middle East and Africa
Key Developments
- In September 2024, Floré launched a probiotic line for neurodiversity, including pathways support and mood support, formulated for individuals with autism spectrum disorder (ASD). Developed in collaboration with Arizona State University, these products were based on a clinical study that showed significant improvements in gastrointestinal discomfort and cognitive abilities among ASD participants after three months of treatment.
- In June 2024, Steadfast Nutrition launched three new supplements: Whey Protein, LIV Raw and a vegetarian Multivitamin mega pack with 180 tablets. These products cater to the protein and nutrient needs of health-conscious individuals and athletes. The launch took place at the International Health Sports and Fitness Festival (IHFF), Asia’s largest health and fitness event.
- In June 2024, RSSL introduced a new dietary supplement testing service to support clients in R&D, manufacturing and supply chain functions. This service ensures reliable turnaround and quality results, offering analyses such as nutrition testing, novel ingredient evaluation and regulatory support to meet clients' needs efficiently.
Why Purchase the Report?
- To visualize the global nutraceuticals market segmentation based on type, product, source, distribution channel, application and region, as well as understand key commercial assets and players.
- Identify commercial opportunities by analyzing trends and co-development.
- Excel spreadsheet containing a comprehensive dataset of the Nutraceuticals market, covering all levels of segmentation.
- PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
- Product mapping available as excel consisting of key products of all the major players.
The global nutraceuticals market report would provide approximately 78 tables, 79 figures and 224 pages.
Target Audience 2024
- Manufacturers/ Buyers
- Industry Investors/Investment Bankers
- Research Professionals
- Emerging Companies
