According to the current analysis of Reports and Data, the global Nutraceutical Products Market was USD 290.95 Billion in 2020 and is projected to grow at a CAGR of 6.60% from 2020 to 2028. A variety of terms have appeared worldwide, such as nutraceuticals, medifoods, vitafoods, functional foods, and the more traditional dietary supplements and fortified foods. However, the term functional foods have become the predominant one even though several organizations have attempted to differentiate this emerging food category. Nutraceutical products are considered as the food or a part of food that delivers nutritional value to the diet. It is also called as a functional food that contains standardized nutrient and pharmaceutical-grade. These supplements act as source for a dietary supplement to the body through diet works to prevent diseases. With cumulative educational level, people are becoming ready to accept diverse types of food beverages that have added nutritional supplements. Hence with this change, nutraceutical products are gaining a traction across the world.
The Asia Pacific region is anticipated to be the fastest-growing market during the forecast period with a CAGR of 8.0%. An increasingly hectic pace of life is now becoming commonplace in Asian countries. The strategies of the nutraceutical manufacturing companies must be to invest heavily in advertising to help consumers understand the health benefits. The region with its large population shows significant potential for manufacturers, and the focus is on weight management, which is driving the growth of the nutraceutical products market for weight-loss ingredients
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Competitive Landscape:
The research report offers details about leading companies in the global Nutraceutical Products market along with global position, financial standing, license agreement, products and services portfolio and revenue contribution of each market player. Key players in the market are focusing on adopting various strategies such as mergers and acquisition, business expansion plans, new product launches, partnerships, collaborations, joint ventures to enhance their product base and gain robust footing in the market.
Some of the Leading Market Players Are Listed Below:
Kraft Heinz Company (US), The Hain Celestial Group (US), Conagra (US), General Mills (US), Kellogg’s (US), Nestlé (Switzerland), Nature’s Bounty (US), Amway (US), Pfizer Inc. (US), and Freedom Food Group Limited (Australia), Abbott
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Nutraceutical Products Market Segmentation based on Source:
- Proteins Amino Acids
- Probiotics
- Phytochemicals Plant Extracts
- Fibers Specialty Carbohydrates
- Omega-3 Fatty Acids
- Vitamins
- prebiotics
- Carotenoids
- Minerals
- Others
Nutraceutical Products Market Segmentation based on Product:
- Food
- Snacks
- Confectionery
- Bakery
- Dairy
- Infant Nutrition
- Others
- Beverages
- Beverages
- Health Drinks
- Energy Drinks
- Juices
- Dairy and Dairy Alternative Beverage
- Others
- Dietary Supplements
- Vitamins
- Fatty Acids
- Minerals
- Proteins
- Botanicals
- Enzyme
Nutraceutical Products Market Segmentation based on Distribution Channel:
- Conventional Stores
- Grocery Stores
- Mass Merchandisers
- Warehouse
- Online retail
- Pharmacies/Drugstores
- Specialty Stores
- Bakery Stores
- Confectionery Stores
- Gourmet Stores
- Health Centers
- Cosmetic Stores
Nutraceutical Products Market Segmentation based on Regions:
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., France, Italy, Spain, Benelux, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
- Latin America (Brazil, Rest of Latin America)
- Middle East Africa (Saudi Arabia, UAE, South Africa, Rest of Middle East Africa)
Key Features of the global Nutraceutical Products Market:
- The report offers detailed estimations at the regional level with manufacturers, consumption, sales and import/export dynamics.
- The report provides accurate details related of the manufacturers/vendors in the market, company overview, pricing analysis, financial standing, product portfolio, and gross profit of leading companies.
- Company profiling with prevalent expansion strategies, revenue generation, and recent developments.
- Optimum strategic initiatives for new players in the market.
- Manufacturing processes, suppliers, cost, rates of production and consumption, transport mode and cost structuring, and value chain analysis.
- The study also includes supply chain trends, including elaborate descriptions of the latest technological development
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