Nutraceuticals Market Set for 6.4% CAGR Growth to $571.3 Billion
"Nutraceuticals are products like supplements, functional foods, and drinks that provide health benefits beyond basic nutrition, such as boosting wellness or managing health conditions. BCC Research Study Highlights Market Growth from $418.2 Billion in 2024 to $571.3 Billion by 2029"
BOSTON, Jan. 21, 2025 /PRNewswire/ -- According to the latest study from BCC Research, the demand for Nutraceuticals: Global Markets is expected to grow from $418.2 billion in 2024 to $571.3 billion by the end of 2029, at a compound annual growth rate (CAGR) of 6.4% during the forecast period of 2024 to 2029.
The report forecasts the nutraceuticals market from 2024 to 2029, covering major companies and market segments such as functional beverages, foods, and supplements. Applications include wellness, weight management, heart, and digestive health. The report also analyzes distribution channels such as e-commerce, supermarkets, and pharmacies, as well as regional markets of North America, Europe, Asia-Pacific, and Rest of the World.
Interesting facts
The rise of e-commerce and retail chains is driving the growth of processed food, making nutraceuticals more accessible and increasing their demand.
Factors contributing to the market's growth include:
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Report Synopsis
Report Metric | Details |
Base year considered | 2023 |
Forecast period considered | 2024-2029 |
Base year market size | $399.0 billion |
Market size forecast | $571.3 billion |
Growth rate | CAGR of 6.4% for the forecast period of 2024-2029 |
Segments covered | Product Type, Application, Distribution Channel, and Region |
Regions covered | North America, Europe, Asia-Pacific, and Rest of the World |
Countries covered | U.S., Canada, Mexico, Germany, France, U.K., Spain, Italy, China, India, Japan, Brazil, South Africa, and UAE |
Market drivers | •Growing Prevalence of Overweight and Obesity. |
This report addresses the following questions:
The estimated size of the nutraceuticals market will be $ 571.3 billion by the end of 2029, with a CAGR of 6.4%.
The growing prevalence of overweight and obesity, increasing demand for dietary supplements and increasing healthcare costs.
The functional beverages segment will continue to dominate the market through 2029.
North America holds the largest market share, driven by the growing demand for health and wellness products and its well-established nutraceutical industry.
Leading companies in the market include:
- Abbott
- Ajinomoto Co. Inc.
- Beneo
- Cargill Inc.
- Danone S.A.
- DSM-Firmenich
- Herbalife International of America Inc.
- Hildur Functional Foods Pvt. Ltd.
- International Flavors & Fragrances Inc.
- Nestle
- Novozymes A/S
Related reports include:
Commercial Amino Acids: Commercial amino acids are amino acids made in large quantities for use in food, medicine, and animal feed. They are produced through fermentation or chemical methods and are used for health, nutrition, or functional purposes. Examples include glutamine, lysine, and threonine.
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SOURCE BCC Research LLC