50% of Global Nutraceutical Supplements Demand Held by Herbal and Protein & Amino Acid Products: Fact.MR Study
Published : 11 Aug 2021 Industry: Food & Beverage
The global nutraceutical supplements market is projected to grow at a CAGR of nearly 8% till 2031, touching an impressive valuation of US$ 175 Bn, according to Fact.MR’s newly published report. From 2016 to 2020, sales expanded at a CAGR of 6%, closing in at a value exceeding US$ 80 Bn.
According to Fact.MR’s study, demand for prebiotics & probiotics dietary supplements is rising rapidly and projected to register over 10% y-o-y in 2021. Increasing awareness regarding the use of probiotics to maintain good health and to reduce the risk of multiple diseases has led to significant demand for prebiotics and probiotics as dietary supplements.
Factors like the increasing prevalence of chronic diseases, such as diabetes, cholesterol, and obesity the increasing geriatric population, and the growing demand for alternate pharmaceutical products are significantly contributing to the growth of nutraceutical supplements.
Key Takeaways from the Market Study
- Vitamins & mineral nutraceutical supplements to likely to hold 36% revenue
- Collectively, herbal and protein & amino acid supplements to generate 50% of global demand
- Preference for nutraceutical softgels high, projected to account for at least 1 out of 4 sales
- By consumer orientation, unisex supplements to hold 2/5th market share through 2021
- U.S to dominate the North American market, yielding 30% revenue share
- 2/5th of the South Asian market demand to be accounted for by India until 2031
“Heightening personalized nutrition regimes amid growing prevalence of sedentary lives is expected to stimulate demand for nutraceutical supplements, spurring large-scale innovations and new product launches,” remarks the Fact.MR analyst.
The global nutraceutical supplements market is highly competitive in nature. Amid the growing competition in the nutraceutical supplements market, leading players are focusing on strengthening their market position and gaining traction in the competitive global market.
Some of the major players in the market are Kraft Heinz Company, The Hain Celestial Group, Conagra, General Mills, Kellogg's, Nestlé, Amway, Barilla Group, Pfizer Inc., Freedom Food Group Limited, and others.
- In April 2021, Nestlé and KKR entered into an agreement in which Nestlé will acquire core brands of The Bountiful Company for USD 5.75 billion. The Bountiful Company is the number one pure-play leader in the highly attractive and growing global nutrition and supplement category.
- The transaction includes the high-growth brands- Nature's Bounty®, Solgar®, Osteo Bi-Flex®, and Puritan’s Pride® as well as the company's US private label business. These brands will be integrated into Nestlé Health Science, creating a global leader in vitamins, minerals, and nutritional supplements.
More Insights Available
Fact.MR, in its new offering, presents an unbiased analysis of the nutraceutical supplements market, presenting historical demand data (2016-2020) and forecast statistics for the period of 2021-2031.
The study divulges compelling insights on the nutraceutical supplements market based on the product type (vitamins & minerals supplements, herbal supplements, protein, and amino acid supplements, and prebiotics & probiotics dietary supplements), consumer orientation (men, kids, women and unisex), form (softgels, capsules, liquids, tablets, and powders and granules), and sales channel (drug stores, health and beauty stores, modern trade channel, direct selling and online retailers), across seven regions (North America, Latin America, Europe, East Asia, South Asia, Oceania and Middle East & Africa).
Fact.MR’s Domain Knowledge in Food & Beverages
Our food and beverages consulting team guides organizations at each step of their business strategy by helping you understand how the latest influencers account for operational and strategic transformation in the food and beverages sector. Our expertise in recognizing the challenges and trends impacting the global food and beverages industry provides indispensable insights and support – encasing a strategic perspective that helps you identify critical issues and devise appropriate solutions.
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Sr. Consultant – Food and Beverages