Market Research Future (Food and Beverages) Nutraceuticals Market Research Report- Forecast | Page 3
Nutraceuticals Market Research Report- Forecast till 2023
2 Market Overview
Global Nutraceuticals Market has witnessed constant demand during the last few years and is projected to reach
USD 319.6 billion at a CAGR of 6.70% by 2023. Nutraceuticals are any food that provides health benefits including
prevention and treatment of diseases. They include functional foods, beverages, and dietary supplements derived
from natural food sources that impart various health benefits. They contain additional nutrients that are not found in
conventional foods which is driving the market of nutraceuticals. They are available in different forms including
powder, pills, liquid, capsule and others which helps in reducing the risks of chronic diseases and helps in further
providing health benefits. Rising cases of obesity is boosting the growth of the nutraceuticals market.
North America will dominate the market and is estimated to reach the market share of USD 79.36 billion in the year
2017 based on busy work schedule of the consumers and their inclination towards functional foods for healthy diet.
Consumption of nutraceuticals from Asia Pacific is projected to witness a high growth rate of 7.82% during the given
period owing to increasing health issues among the growing population followed by increasing health awareness
among the consumers.
Based on the type, functional foods will dominate the market and is projected to hold a major share of 35% in the
global market. North America is dominating the market in consumption of functional foods in which the U.S. is the
major contributor. However, Asia Pacific is the fastest growing region in consumption of functional foods at a CAGR
of 8.1% over the forecast period owing to increase in health conscious population in the developing countries.
Intended Audience:
Nutraceuticals manufacturers
Food industry
Pharmaceutical Industry
Personal care products manufacturers
Retailers, wholesalers and distributors
Traders, importers and exporter
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