Sarasota, FL -- (SBWIRE) -- 05/17/2017 -- Zion Market Research, the market research group announced the analysis report titled "Nutraceuticals Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2016–2024"

Global Nutraceuticals Market: Overview

Nutraceuticals is a broad term that is used for the description of any product that is obtained from the food sources. They contain an extra nutritional value which benefits the health. They are very versatile in nature and hence are used in various industries including animal feed additives, pharmaceutical, personal care, and food & beverages. Recent developments made in the nutraceutical sector will open new market opportunities in the global market.

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Global Nutraceuticals Market: Segmentation

The nutraceuticals market is globally segmented into its type and geography. On the basis of type, the market is segregated into a functional food, functional beverages, dietary supplements, and personal care. Each of the segments is sub-classified; the functional food segment is sub-segmented into omega fatty acid fortified food, branded wheat flour market, probiotics fortified foods, branded ionized salts, and others. Functional beverages segment is divided into fruits and vegetable juices & drinks, non-carbonated drinks, dairy & dairy alternative drinks, and others. The dietary supplements segment is categorized into Ayurveda extracts, algal extracts, plant extracts, phytochemicals, and others. Geographically, the global nutraceuticals market is diversified into Asia Pacific, North America, Europe, and Rest of the World.

Global Nutraceuticals Market: Growth Factors

Overall the demand for the nutraceuticals has increased owing to its increasing demand from the cosmetic industry. People are becoming more conscious about their physical appearance thus spending a lot for the personal care products which in turn increases the demand for nutraceuticals. The other factors that are contributing towards the global market growth are the increasing cases of the chronic diseases that are non-communicable and the rise in the investments that are made in the healthcare sector. There has been a rise in the demand for the nutritional diet in the developed economies which anticipates towards the growth of the market. The nutraceuticals are considered as an alternative to prescription drugs and OTC, thus creating new opportunities in the global market. The increasing disposable income of the consumers also benefits the market growth. Many market players are now making investments in the development of the technology in the nutraceuticals market. There are factors that are affecting the growth of the market in a negative way which includes the high cost of the nutraceuticals and the lack of the awareness among the people regarding the benefits of the nutraceuticals.

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Global Nutraceuticals Market: Regional Analysis

The global nutraceuticals market is dominated by the North American region. This dominance of the region is going to continue in the coming years owing to the factor that a large number of the population in this region are health conscious thus increasing the demand of the nutraceuticals. The countries that contribute majorly to this growth are the US and Canada. The second position in the global market is held by Asia Pacific region. The increasing demand for the functional foods and dietary supplements in the developing countries in the Asia-Pacific region is boosting the nutraceuticals demand. In the recent years, people in the Asia-Pacific region have become more health conscious and have started to lead a healthy lifestyle thus triggering the demand of the nutraceuticals.

Global Nutraceuticals Market: Competitive Players

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

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Global Nutraceuticals Market: Regional Segment Analysis

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