$671 Billion Nutraceuticals Market: Global Outlook Report, 2024 - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--May 23, 2019--
The ″$671 Billion Nutraceuticals Market: Global Outlook Report, 2024″ report has been added to ResearchAndMarkets.com’s offering.
The nutraceuticals market is predicted to record a revenue of USD 671.3 billion by 2024, registering a CAGR of 7.5% during the forecast period (2019-2024).
Globally, nutraceuticals are gaining importance and are becoming a part of the consumer’s daily diet. The major reasons for this change have been the increasing prevalence of lifestyle diseases and people consciously taking preventive healthcare measures. Developed markets, like the United States and Europe, are discovering the untapped segment of customized products based on health claims. Functional food is the largest shareholding category of the studied market, followed by functional beverage and dietary supplement.
Increased Demand in Developing Regions
Developing countries have a higher prevalence of non-communicable diseases (NCDs), like cancer, diabetes, cardiovascular ailments, and lung disorders. Therefore, the demand for nutraceuticals is expected to rise in these nations. The gradually increasing healthcare expenditure will also augment the demand for nutraceuticals across the emerging nations.
Nutraceuticals can be an opportunity for economic growth for many developing countries endowed with rich biodiversity and traditional knowledge of the health effects of certain indigenous plant species. The market records plenty of opportunities from within the emerging markets, not just in China and Brazil, but in other Asia-Pacific and South American countries as well. In order to succeed, key players need to emphasize more on product research activities focusing on local consumers, thereby differentiating themselves from their competitors.
Functional Beverages Remain the Fastest Growing Segment
Functional beverages improve hydration, prevent and help to address health conditions, aid athletic performance, and contribute to the nutritional well-being. Over the years, FF (fortified and functional) beverages have become specific and are tailored according to the health benefits, gender, and age.
This diversification, in conjunction with the increased distribution channels, continues to fuel the consumer demand. There is a growing demand for immunity drinks, which can be attributed to the consumers’ desire for products that build up their defenses. Energy drink is the largest segment in terms of revenue. However, RTD tea, coffee, and enhanced water are the fastest growing sub-segments among the other functional beverages.
The most active companies in the nutraceutical market are PepsiCo, Kellogg’s, Herbalife, Suntory, Nestle, and Amway. PepsiCo and Coca-Cola are two global giants in the functional beverage market. Even though Pepsi and Coke are dominating the current market scene, Monster Beverage has shown a sudden increase in its share in the market. Quest Nutrition, Kellogg’s, Nature’s Bounty Inc., Post Holdings Inc., and Clif Bar are the major manufacturers in the protein bar industry.
Key Topics Covered
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter’s Five Forces Analysis
5 MARKET SEGMENTATION
5.1 By Product Type
5.1.1 Functional Food
22.214.171.124 Bakery and Confectionary
126.96.36.199 Other Functional Foods
5.1.2 Functional Beverage
188.8.131.52 Energy Drink
184.108.40.206 Sports Drink
220.127.116.11 Fortified Juice
18.104.22.168 Dairy and Dairy Alternative Beverage
22.214.171.124 Other Functional Beverages
5.1.3 Dietary Supplements
126.96.36.199 Fatty Acids
188.8.131.52 Other Dietary Supplements
5.2.1 North America
5.2.4 South America
5.2.5 Middle East & Africa
6 COMPETITIVE LANDSCAPE
6.1 Key Strategies Adopted
6.2 Most Active Analysis
6.3 Market Share Analysis
6.4 Company Profiles
6.4.2 General Mills Inc.
6.4.4 Kellogg Co.
6.4.5 Herbalife International of America Inc.
6.4.6 Nature’s Bounty Inc.
6.4.9 Red Bull
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/t9wm8f
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Related Topics:Nutraceuticals and Weight Loss
INDUSTRY KEYWORD: HEALTH FITNESS & NUTRITION PHARMACEUTICAL
SOURCE: Research and Markets
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PUB: 05/23/2019 12:39 PM/DISC: 05/23/2019 12:39 PM