The global nutraceuticals market size was valued at USD 390 billion in 2021 and is expected to grow USD 659.78 billion by 2028 at a CAGR of 7.8% during the forecast period 2022-28. Glance our 200 slides market research and competitive intelligence research report, 25 Tables and 65 Figures and other qualitative sections with an in-depth TOC on " Nutraceuticals Market by Functional Food (Probiotics Fortified Foods, Omega Fatty Acid Fortified Food, Branded Ionized Salts, Branded Wheat Flour Market, and Other Functional Food), Functional Beverages (Energy Drinks, Sports Drinks, Fortified Juices ), Dietary Supplements (Proteins & Peptides, Vitamins & Minerals, Herbals (Ayurveda extracts, plant extracts, algal extracts, phytochemicals), and Others(Fatty acids, Fiber) and Personal Care) and Geography - Global/Region/Country Forecast to 2028",

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Increasing Cases of Diseases is Fueling Nutraceuticals Market

Nutraceuticals refer to food products which have crucial effect on medical conditions by preventing them. Dilatory supplements, nutrients and herbs are some important nutraceuticals. There are numerous factors that drive the nutraceuticals market growth, which include growing consumer inclination towards high protein diets and new innovations like Probiotics. Furthermore, increasing cases of different diseases encouraged customers as well as healthcare experts for adopting nutraceuticals as a substitute or complimentary treatment alternatives for treating numerous diseases. But, high price of R&D and dearth of awareness about the nutraceuticals use is anticipated to hinder the growth of the nutraceuticals market growth over the forecast duration. Furthermore, high cost of nutraceuticals shifting the inclination of consumers from nutraceuticals to the low cost pharmaceuticals.

Lifestyle related diseases such as obesity, high blood pressures, diabetes and cholesterol are increasing due to the increasing life expectancy, which enable people to opt for nutraceuticals to maintain healthy lifestyle and get rid of these diseases. Increasing awareness among people about healthy lifestyle enhance the demand for nutraceuticals. Industry players in the market working with great concentration to diversify the nutraceuticals products and also making investments in R&D activities for increasing revenue share in the market. Key players of the market are following some key tools such as collaboration, mergers and acquisitions to obtain the largest market revenue share, retain their position and expand their product portfolio and business in the market.

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Nutraceuticals Market - Regional Analysis

On the basis of regional analysis, nutraceuticals market is classified into major regions such as North America, Latin America, Middle East, Asia pacific, Africa and Europe. Japan and U.S are the big and developed markets for nutraceuticals because of the customer acceptability in both the economies. India and China are anticipated to experience several opportunities due to the factors such as changing lifestyles. The consumption of substitute herbal medicines as well as suupplements is anticipated to have minor effect on the nutraceuticals market.  In Europe region, Germany and in Middle East Region, Israel emerged as the leading innovation hubs of the nutraceuticals market.

Competitive Analysis

There are some major key players operating in nutraceuticals market, which includes General Mills Inc. (U.S.), Alphabet Holding Company, Inc. (The Nature’s Bounty Co.) (U.S.), Herbalife International Inc. (U.S.), Koninklijke DSM N.V (Netherlands), PepsiCo, Inc. (U.S.), Groupe Danone (France), Bayer AG (Germany), Abbott Laboratories (U.S.), and Chobani LLC (U.S.).

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