Nutraceuticals Market Size & Share | Growth Analysis 2030

Nutraceuticals Marke Size and Forecast

According to analysts at Vantage Market Research, the Global Nutraceuticals Market was valued at USD 490.24 billion in 2022 and is projected to reach a value of USD 955.52 billion by 2030, at a CAGR of 8.70% over the forecast period. Market growth is primarily driven by increasing consumer awareness of preventive healthcare and the connection between diet and overall well-being. As the global population ages, particularly in developed countries, there is a growing emphasis on maintaining health and managing age-related diseases, resulting in increased interest in supplements that support joint health, cognitive function, and cardiovascular well-being. At the same time, the increasing incidence of chronic diseases such as obesity and diabetes are encouraging people to lead more healthy lifestyles, including adding nutraceuticals to their daily routines. The industry is shifting toward proactive health management, a major trend driving its growth.

Consumers are paying increasing attention to ingredient lists, seeking clean labels, and opting for plant-based options. This aversion to synthetic ingredients and a quest for transparency are powering the demand for nutraceuticals derived from natural sources — fruits, tea, vegetables, herbs, and botanicals. New extraction and processing techniques are also playing a significant role, enabling manufacturers to source more concentrated and bioavailable formulations of these natural ingredients. Such trends extend beyond sourcing ingredients, though, and also encompass ethical and sustainable production practices that influence what consumers choose to purchase.

Growing awareness of personalized nutrition and the role of gut health are also major demand drivers. In general, consumers are shifting away from a one-size-fits-all approach. They are relying on nutraceuticals tailored to their individual needs, which vary based on genetics, lifestyle, and health goals. A growing body of research has demonstrated the significant impact of the gut microbiome on overall health, driving demand for probiotics, prebiotics, and other supplements related to gut health. With personalized health-tracking technologies and enhanced diagnostic tools, consumers are empowered to make user-defined decisions about their nutraceuticals.

Moreover, the availability and ease of access to nutraceuticals are positively impacting market growth. The proliferation of e-commerce platforms has made it easy for consumers to research and purchase a wide range of products. At the same time, the growing availability of convenient formats, such as gummies, powders, and drinks, has expanded market reach. The continuous recommendation of nutraceuticals by healthcare providers and fitness enthusiasts is gaining consumer confidence and adoption. The ongoing expansion of the global nutraceuticals industry is expected to be fueled by this combination of factors, including increased accessibility and trusted endorsements.

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Market Dynamics

Industry Trends

The personalized nutrition industry is projected to experience substantial growth over the next few years. Such a robust growth trajectory will enable the market to benefit from products,  particularly those with clinically proven health benefits and clean-label characteristics. Personalized offerings, such as the one-size-fits-all concept, are dependent on the sustainable growth of this market. Additionally, consumers are more receptive to tailored products, including vitamins, nutrition, and exercise. Additionally, nutritional supplements are likely to become a significant intervention in the prognostic and preventive health paradigm. Such factors are expected to support the steady growth of the global nutraceuticals market.

Industry Growth Factors

The rise in regional population can be attributed to the growth of healthcare options, reduced mortality rates, and increased consumer spending on health and wellness. This has provided the required boost in users and revenue to the global nutraceutical sector. Sales performances have also benefited from shifting consumer preferences for functional foods and beverages.

Consumers are more than willing to opt for a concentrated source of nutrition, and dietary supplements have effectively catered to this demand conveniently. The realization of the importance of food during the global pandemic for maintaining both immune and physical health has surged manifold, which is expected to drive global market growth in the years to come. In this context, numerous examples are available. For example, in September 2020, the Indian government unveiled eight nutraceutical products under the Pradhan Mantri Bhartiya Janaushadhi Pariyojana scheme. These newly launched nutraceutical products will undoubtedly help improve users' immune systems.

Growing Investments in Technology Development to Propel Growth

Research and development activities are heavily invested in, which, in addition to production technology, has a positive impact on the quality of the manufacturer. The nutraceutical sector has witnessed rapid evolution over the last decade to meet growing interest in products with health benefits. This is evident in the massive increase in the number of nutraceutical launches across functional beverages and dietary supplements categories. The excessive and unprescriptive use of antibiotics in the form of over-the-counter medicines is  damaging our health. The incidence of infections caused by antibiotic-resistant pathogens is on the rise. This paves the way for emerging nutraceutical products offering diversified microbiota that may promise improved immunity and health.

Restraining Factors

High Regulatory Stringent Laws Related to Products to Hinder the Market Growth

Although the product has experienced increased demand, certain limiting factors exist that may hinder the market's growth.  One of those is the rigorous and complex regulatory framework for the commercialization of nutraceutical products. There exist few harmonized provisions on the composition of these products in global markets. Other botanicals, botanical preparations, and bioactive substances still need to be harmonized with upper limits and conditions of use. What further complicates harmonization is the differing opinions of several government bodies on the types of ingredients that should be allowed and in what quantities.

Report Scope

The report provides market projections and analysis for the nutraceuticals market from 2023 to 2030, along with an overview of the market shares of leading companies. By product type, the market is categorized into functional beverages, functional foods, and dietary supplements. It can also be segmented by application: sports and energy, weight management, general wellness, heart health, gastrointestinal (GI) and digestive health, and others. Distribution Channel-based Segmentation in the market includes: E-commerce, Supermarkets, Pharmacies, retail stores, and other distribution channels. Estimates and forecasts are provided for North America, Europe, Asia-Pacific, and the Rest of the World.

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Report Includes

• 41 supplementary tables and 180+ tables of data
• A comprehensive analysis of the global nutraceuticals market
• Analysis of worldwide market trends, historical market revenue for 2022, forecasts for 2023, and forecast compound annual growth rates (CAGRs)  through 2030.
• Market potential for nutraceuticals segmented by product (functional foods, functional beverages, and dietary supplements), distribution channel, application, and region.
• Regulatory framework and policies, product pipeline of the industry
• ESG Challenges & Practices in the Nutraceuticals Industry: A Conversation
• Summary of recent developments, alliances, joint ventures, and acquisitions in the global nutraceutical market and analysis of legislative issues affecting the international market
• International Nutraceutical Regulations Coverage; Notification- and Registration-Based Systems Related to Nutraceutical Products (Including Codex Alimentarius (Food Code),  FOSHU Labeling Regulation, etc.); International Alliance of Dietary Food Supplement Associations
• Industry company profiles and their strategic capabilities, which have been covered in this report are Cargill Incorporated (U.S.), Archer Daniels Midland Company (U.S.), DuPont (U.S.), Nestle S.A. (Switzerland), Danone (France), Royal DSM N.V (Netherlands), General Mills (U.S.), Innophos (U.S.), WR Grace (U.S.), Amway Corporation (U.S.), AOR Canada (Canada), Arkopharma Laboratories S.A (France), Bactolac Pharmaceuticals Inc (New York), E.I.D Parry Ltd (India), Valensa International (U.S.), Matsun Nutrition (U.S.), Mead Johnson Nutrition Company (U.S.), Natrol Inc (U.S.), The Hain Celestial Group Inc (U.S.), Herbalife Ltd (U.S.) and so on.

Competitive Landscape

The fast-growing key players (international players) in the Nutraceuticals market are each of them. Companies in the market are involved in mergers and acquisitions and continually deploy new products on a timely basis. Acquisitions and mergers have become a common tool for enhancing product lines and improving the quality of existing products. Consumer attitudes have also changed with the introduction of new products.

Top Key Players in the Global Nutraceuticals market are Cargill Incorporated (U.S.), Archer Daniels Midland Company (U.S.), DuPont (U.S.), Nestle S.A. (Switzerland), Danone (France), Royal DSM N.V (Netherlands), General Mills (U.S.), Innophos (U.S.), WR Grace (U.S.), Amway Corporation (U.S.), AOR Canada (Canada), Arkopharma Laboratories S.A (France), Bactolac Pharmaceuticals Inc (New York), E.I.D Parry Ltd (India), Valensa International (U.S.), Matsun Nutrition (U.S.), Mead Johnson Nutrition Company (U.S.), Natrol Inc (U.S.), The Hain Celestial Group Inc (U.S.), Herbalife Ltd (U.S.) etc.

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Recent Market Developments

• In April 2024, Nestle India and Dr. Reddy's Laboratories Ltd. entered into a definitive agreement for a joint venture that will focus on developing and introducing innovative nutraceutical brands to consumers in India and select other territories. The collaboration aims to triangulate NHSc's global portfolio of nutritional health solutions, encompassing vitamins, minerals, herbals, and supplements, with Dr. Reddy's well-established commercial capabilities in the Indian market.
• In January 2024, Indian startup Zingavita, which manufactures nutraceuticals and supplements, raised approximately $1.2 million in a pre-series A funding round.
• April 2023 — New Zealand dairy giant Fonterra introduced functional beverage products under its Anchor and Fernleaf brands to meet the growing demand for ready-to-drink beverages across Southeast Asia. It worked with the 7-Eleven convenience store chain to sell its functional dairy products Actif-Fiber and Anchor-Beaute.
• May 2023: Kirin Holdings Company Limited, a Japanese manufacturer of beer and beverages, partnered with Kellogg's Company, an American manufacturer of breakfast products, to launch a new product portfolio in Japan, Kellogg’s All-Bran. Containing a blend of L. lactis strain Plasma (postbiotic) and a fermented dietary fiber, the latest product helps support users' immune health.
• February 2021: TopGum Industries Ltd. (Haifa, Israel), a manufacturer of functional gummy supplements, announced the expansion of its U.S. operations through the creation of a new subsidiary, TopGum, Inc. The expansion focuses on increasing production capacity and marketing activities for functional gummy bears in North America and Europe.
• January 2021: With Benefits Secures Financing on Kickstarter to Bring Functional Beverages to Your Doorstep from Alpine Start, Inc. | Kickstarter's latest product will feature vitamins, minerals, and MCTs. They will be created with immunity-boosting attributes using clean-label and natural ingredients.

Segmentation Insights

The global Nutraceuticals market can be segmented into the following categories: by products, By Dietary Supplement Products, By Functional Food Products, By Functional Beverage Products, and By Region. The market is segmented into dietary Supplements, Functional Food, and Functional Beverages based on Products. Based on the Dietary Supplement Product outlook, the market can be segmented into Vitamins, Botanicals, Minerals, Proteins and Amino Acids, Fibers and  Specialty Carbohydrates, Omega Fatty Acids, and Other Dietary Supplement Products. The Functional Food Products market can be segmented into Carotenoids, Dietary Fibers, Fatty Acids, Minerals, Prebiotics and Probiotics, Vitamins, and Other Functional Food Products. By Functional Beverages Product outlook, the market is divided into Energy Drinks, Sports Drinks, Functional Juices, and Other functional beverages Products. Similarly, the market is segmented by region into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

by Products

Functional Food Products are expected to lead the global nutraceuticals market in 2022. Functional food is very nutritionally valuable and linked to multiple benefits. Moreover, between health and wellness enthusiasts, functional food has grown as a popular trend. By distribution channel, compared to the response to the functional beverages segment, it is projected to have a high growth rate during this forecast period. The growing demand for energy drinks, sports drinks, and healthy and herbal juices among the population is significantly driving the aggressive sales of the functional beverages segment—a wide range of applications and potential users, including athletes, sports enthusiasts, and gym enthusiasts. Vendors can also manage their functions with sports centers, sports clubs, sports gyms, and cardio centers, where functional drinks are in high demand. Additionally, functional beverages are more convenient to consume and more effective than functional foods; this is another factor that will help drive high revenue growth during the forecast period.

by Sales Channels

Globally, in 2022, supermarket and hypermarket sales channels held the largest share of the nutraceuticals market. Both have the response that consumers often trust old brands, as supermarkets and hypermarkets provide a wide range of well-known brands, discounted prices, and gifts. Presence of new high-end technological partners that can boost local and global nutraceutical sales is another key drivers for the partners on the online nutraceutical selling platforms in the market, but is anticipated to develop rapidly during the forecast period owing to the rapidly advancing online sales channels including e commerce channels, vendors own online selling websites, and e-pharmacies that provide provision for direct contact and sell for the nutraceutical products to every corner of the globe. The wide distribution network and the focus of everyday consumers on ease of purchasing and economical prices through e-commerce channels provide the nutraceutical industry with high growth opportunities. On the other hand, developing markets in regions such as Latin America, the Middle East, and Africa are the most attractive, with steady sales of nutraceutical products through supermarkets, hypermarkets, and pharmacies.

by Consumers

The global nutraceuticals market is segmented by consumer type into adults and pediatrics, with the adult segment accounting for the highest industry share in 2022. The higher segmental growth is attributed to high awareness and a preference for preventive care, as well as higher expenditure among the adult population. In addition, adults also have a much higher burden of chronic diseases than their pediatric counterparts and need additional micronutrients daily to meet their additional nutrition needs. The other side of the squirrel saw high malnutrition prevalence in the pediatric population, which further propelled growth in the pediatric sector of the nutraceuticals industry.

Supplier Ecosystem

The global nutraceuticals market is significantly characterized by high competitive rivalry. In India, nutraceutical products are marketed as medicinal foods, and high competition exists in both the pharmaceutical and food industries. Furthermore, in major countries, domestic, national, and international vendors are available, indicating a highly competitive environment in the nutraceutical industry. Additionally, many companies operate in the food or pharmaceutical sector, specifically within the nutraceuticals segment. Over the past decade, several pharmaceutical and food corporations have gradually transformed their businesses to enter the nutraceutical segment. Key players in the global nutraceuticals market are BASF, Herbalife, International Flavors & Fragrances Inc. (IFF), Nestlé, and Meiji Holdings. One of the major industry players is Nestlé, which stores its products in over 120 countries and has a total revenue of approximately USD 16 billion. In 2022, the company provided 129.2 billion fortified products, serving affordable nutritional products.

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Region Analysis

The global nutraceuticals market was dominated by North America, which held a share of over 32% in 2022. High awareness and high expenditure are driving industry growth in the region. Most North Americans consume functional foods in the form of nutraceutical-based products. Flanking those vitamins and dietary supplements is an incredibly fast-growing segment throughout the region and in the global market. Additionally, the consumption of functional food and drinks among young adults and baby boomers in the region is a primary driver of substantial market growth.

The APAC region is expected to be one of the fastest-growing nutraceutical markets, with the highest CAGR, during the forecast period. In the APAC region, there has been progress in functional foods, drinks, and dietary supplements focused on cognitive wellness and mental health. Increasingly, consumers in the region are taking control of their health, and the industry is thriving as a result. According to a survey conducted by the Herbalife Nutrition Company, over 89% of respondents in 24 countries reported taking active steps toward improving their health, including reducing unhealthy food intake, increasing exercise, and incorporating nutraceuticals such as vitamins and dietary supplements. In addition, the survey revealed that Latin America accounted for over 7% of the global nutritional supplement (nutraceutical product) market, with Brazil, Mexico, and Argentina collectively contributing significantly to the industry's share.

Market Analyst Review

The lifestyle of people, particularly those in the office who form the majority of the human population, has gradually expanded the business and severity of the lifestyle in the 21st century. This has created numerous health issues and hazards because people are unable to spare time for a healthy diet and regular exercise. However, awareness is increasing about such problems, and consumers are adopting sanitary measures, such as exercising and using nutraceuticals.

Nutraceutical products can be used daily or a few times a week, based on the strength and effectiveness of the ingredients that they contain. Existing nutraceutical products are primarily focused on one or two areas related to health, such as vitamins and minerals or proteins and amino acids. Nutraceuticals can be coupled with other healthful foods, such as adding powdered or liquid nutraceutical products to juices or smoothies. Most nutraceutical products available on the market are enhanced with numerous flavors, which can improve the taste of these foods. Since these nutraceutical products are based on food products, they are not pharmaceutical products and are, therefore, considered safe. Most countries in the world do not have stringent regulations for nutraceuticals, and it is relatively easy to access.

Driven by the growing number of consumers switching to organic diets, stakeholders in the nutraceutical market are increasingly utilizing organic and herbal ingredients for their products, particularly in the Asia-Pacific region, where a strong herbal and Ayurvedic medicine culture prevails. The trend of veganism is also on the rise, which is increasing the demand for vegetarian nutraceutical products. Sales of nutraceuticals through online channels are expected to continue growing rapidly in the future.

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About Vantage Market Research

Vantage Market Research is a healthcare-focused business research and insights firm. Our client list includes Fortune 500 companies, prominent investors, and rapidly expanding start-ups. We have completed over 100 projects in the digital health, healthcare IT, medical technology, medical devices, and pharmaceutical services sectors. These projects have encompassed a range of services, including market assessments, due diligence, competitive intelligence, market sizing and forecasting, pricing analysis, and go-to-market strategy. Our rigorous methodology incorporates secondary research and in-depth interviews with industry leaders from both the demand and supply sides.

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Frequently Asked Questions

1. What is the nutraceuticals market?
2. What are nutraceuticals and how do they differ from pharmaceuticals?
3. What are the key trends in the global nutraceuticals market?
4. What factors are driving the growth of the nutraceuticals market?
5. What are the main types of nutraceuticals in the market?
6. What is the size of the nutraceuticals market, and what is its growth potential?
7. Which regions are leading in the nutraceuticals market?
8. What are the top nutraceutical product categories in demand?
9. Who are the major players in the nutraceuticals market?
10. What are the challenges facing the nutraceuticals industry?
11. How do regulations impact the nutraceuticals market?
12. What are the benefits of nutraceuticals for health?
13. Are nutraceuticals safe for long-term use?
14. What is the difference between functional foods and nutraceuticals?
15. How is the demand for plant-based nutraceuticals growing?
16. What is the role of technology and innovation in the nutraceuticals market?
17. How are consumer preferences influencing the nutraceuticals market?
18. What is the future outlook for the nutraceuticals market?
19. How does the COVID-19 pandemic affect the nutraceuticals market?
20. What are the key challenges in nutraceuticals product development?

Segmentation of the Global Nutraceuticals Market

By Products

• Dietary Supplements
• Functional Foods
• Functional Beverages

By Dietary Supplement Products

• Vitamins
• Botanicals
• Minerals
• Proteins & Amino Acids
• Fibers & Specialty Carbohydrates
• Omega Fatty Acids
• Other Dietary Supplement Products

By Functional Food Products

• Carotenoids
• Dietary Fibers
• Fatty Acids
• Minerals
• Prebiotics & Probiotics
• Vitamins
• Other Functional Food Products

By Functional Beverages Product

• Energy Drinks
• Sports Drinks
• Functional Juices
• Other Functional Beverages Products

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Top 20 Companies in Nutraceuticals Market

• Cargill Incorporated (U.S.)
• Archer Daniels Midland Company (U.S.)
• DuPont (U.S.)
• Nestle S.A. (Switzerland)
• Danone (France)
• Royal DSM N.V (Netherlands)
• General Mills (U.S.)
• Innophos (U.S.)
• WR Grace (U.S.)
• Amway Corporation (U.S.)
• AOR Canada (Canada)
• Arkopharma Laboratories S.A (France)
• Bactolac Pharmaceuticals Inc (New York)
• E.I.D Parry Ltd (India)
• Valensa International (U.S.)
• Matsun Nutrition (U.S.)
• Mead Johnson Nutrition Company (U.S.)
• Natrol Inc (U.S.)
• The Hain Celestial Group Inc (U.S.)
• Herbalife Ltd (U.S.)