Sarasota, FL -- (SBWIRE) -- 12/13/2018 -- Global nutraceuticals market was valued at approximately USD 200.2 billion in 2017 and is expected to generate revenue of around USD 317.3 billion by end of 2024, growing at a CAGR of around 6.80% between 2018 and 2024.

Nutraceutical ingredients are the part of food or whole food that have medical or health benefits. It is used in the prevention and treatment of several chronic diseases such as high blood pressure, obesity, cancer, and diabetes. People are increasingly being aware regarding the types of food & beverages that help in maintaining a balanced diet and proper health, due to increased educational levels. Manufacturers are engaged in providing healthy nutrients in the form of food & beverages by taking into consideration convenience factor for the consumers. The use of natural oils in nutraceutical products is gaining popularity and it is the foremost factor influencing the interest of consumers in the products for halting the aging effects. Moreover, rising health awareness among consumers and growing incidences of gut disease, and rickets are expected to further drive the industry growth.

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Nutraceuticals are garnering prominence across the world and are used in the diet of an average consumer's on daily basis. The major reasons for increased usage of nutraceuticals are the growing incidences of lifestyle-related diseases, rising life expectancy of people, and inadequate nutrition due to current lifestyle choices of the people. Nutraceuticals have various applications which include overcoming the nutritional deficiency, muscle building, and weight management, among others. Nutraceuticals products are commonly used to meet nutritional requirements of the body and it is also used for bodybuilding in gymnasiums. Such factors are anticipated to drive the industry growth over the forecast period.

The nutraceuticals market is segmented on the basis of type into functional food and functional beverages, dietary supplements, and personal care. Dietary supplements segment contributed a significant revenue share in global nutraceuticals market in 2017. Dietary supplements are used to decrease the risk associated with the malnutrition among infants and adults. Growing elderly population base, increasing birth rate, rising premature birth rate, and a number of people suffering from malnutrition are some of the factors expected to increase the demand for clinical nutrition products over the forecast timeframe.

The functional beverages are expected to grow at the highest CAGR of during the forecast timeframe. Increasing consumption of energy and sports drinks, especially among the young population, and rising preferences for ready-to-drink beverages among consumers are the major factors expected to drive the functional beverages segment growth in the future years.

North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa are key regional segments of global nutraceuticals market. North America is a mature market for nutraceuticals. Growing geriatric population base coupled with high healthcare costs in this region is anticipated to positively impact nutraceuticals market growth over the forecast period. Increasing awareness levels regarding nutraceuticals owing to the growing number of patients that are suffering from diabetes, cancer, obesity is predicted to drive the nutraceuticals market in the Asia Pacific region. Emerging countries such as India and China are the major revenue generating markets due to the huge population base and growing number of patients.

Some of the industry players in the nutraceuticals market include E. I. du Pont de Nemours, Archer Daniels Midland Company, Nestle S.A, General Mills, Inc., Cargill Incorporated, Groupe Danone S.A., Royal DSM N.V., and BASF SE.

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This report segments the global nutraceuticals market as follows:

Global Nutraceuticals Market: Type Segment Analysis

Functional Food
Omega Fatty Acid Fortified Food
Branded Wheat Flour
Probiotics Fortified Foods
Branded Ionized Salts
Others
Functional Beverages
Fruits and Vegetable Juices & Drinks
Non-carbonated Drinks
Dairy & Dairy Alternative Drinks
Others
Dietary Supplements
Ayurveda Extracts
Algal Extracts
Plant Extracts
Phytochemicals
Others
Personal Care

Global Nutraceuticals Market: Regional Segment Analysis

North America
The U.S.
Europe
UK
France
Germany
Asia Pacific
China
Japan
India
Latin America
Brazil
The Middle East and Africa

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