The Business Research Company’s Nutraceuticals Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026
LONDON, GREATER LONDON , UK, May 11, 2022 /EINPresswire.com/ — The rise in the geriatric population is significantly contributing to the global nutraceuticals market growth. Nutraceuticals are products that can be taken by an individual along with a normal daily diet to get additional nutrients to promote good health and immunity. After a certain age, especially after 65 years or above, an individual requires additional nutrients to build immunity to fight against a number of diseases like diabetes, cholesterol, blood pressure, and other ageing issues. Nutraceuticals are used as daily supplements to meet the daily requirements of nutrients. For instance, in 2020, according to the United Nations, there were approximately 727 million people aged 65 and above worldwide, and that number is expected to reach approximately 1.5 billion by 2050. According to the nutraceuticals market analysis, the rise in the geriatric population is driving the growth of the market.
New product development is the key trend being followed by the companies operating in the nutraceutical market. This is due to the presence of a large number of nutraceutical companies operating in the market and their desire to extend their growth in new areas to be a leader in the market. For instance, in December 2021, Nestlé Health Science, a Switzerland-based nutrition company, developed a product named Reducose with the use of the plant-based ingredient mulberry leaf extract powder as an artificial sweetener for prediabetic patients, which helps to maintain a normal blood glucose response. The Reducose by Nestle Health Science has proven to have a positive effect on postprandial blood glucose levels by reducing them by 40%. It can be added to meals or drinks to sweeten them without altering the original taste and texture of the food.
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The global nutraceutical market size is expected to grow from $341.14 billion in 2021 to $370.98 billion in 2022 at a compound annual growth rate (CAGR) of 8.75%. The growth in the market is mainly due to the companies’ rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The global nutraceuticals market share is expected to reach $531.55 billion in 2026 at a CAGR of 9.41%.
Major players covered in the global nutraceuticals industry are Cargill Incorporated., Abbott, ADM, BASF SE, Nestle, PepsiCo, General Mills, DuPont, DSM, Herbalife International of America Inc, Kellogg Co., Amway Corp., Innophos, W. R. Grace & Co.-Conn., and Bactolac Pharmaceutical Inc.
TBRC’s global nutraceuticals market report is segmented by type into vitamins and minerals, probiotics, proteins and peptides, omega fatty acids, others, by source into plant, animal, microbial, by application into functional food, functional beverages, dietary supplements, personal care, animal nutrition, others, by product form into capsules, tablets, softgels, powder, liquid, gummies, by distribution channel into specialty stores, supermarkets/hypermarkets, convenience stores, drug stores/pharmacies, online retail stores, others.
Nutraceuticals Global Market Report 2022 – By Type (Vitamins and Minerals, Probiotics, Proteins and Peptides, Omega Fatty Acids, Others), By Source (Plant, Animal, Microbial), By Application (Functional Food, Functional Beverages, Dietary Supplements, Personal Care, Animal Nutrition, Others), By Product Forms (Capsules, Tablets, Softgels, Powder, Liquid, Gummies), By Distribution Channel (Specialty Stores, Supermarkets/Hypermarkets, Convenience Stores, Drug Stores/Pharmacies, Online Retail Stores, Other Distribution Channels) – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provides a nutraceuticals market overview, nutraceuticals market forecast, nutraceuticals market size and nutraceuticals market growth for the whole market, nutraceuticals market segments, geographies, nutraceuticals market trends, nutraceuticals market drivers, nutraceuticals market restraints, nutraceuticals market leading competitors’ revenues, profiles, and market shares.
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