ALBANY, New York, June 16, 2016 /PRNewswire/ --
With several consumers looking at Nutraceuticals as a means to fortify their daily dietary intake and also as an alternative to OTC drugs, the outlook for the Global Nutraceuticals Market looks positive. According to a recent study published by Transparency Market Research, the global nutraceuticals market stood at US$182.60 bn as of 2015, and will rise to US$278.96 bn by 2021, exhibiting a CAGR of 7.3% from 2015 through 2021. These findings are discussed in detail in the report, titled 'Nutraceuticals Market - Global Industry Analysis, Size, Share, Growth and Forecast 2015 - 2021.
Although consumers are increasingly considering nutraceuticals as a means to boost their preventative healthcare programs, increasing prices of nutraceuticals will likely hinder the growth of the market globally. The other restraint likely to be faced by the global nutraceuticals market is a lack of awareness about these products in several growth markets. TMR's report also identifies opportunities that can be harnessed for the growth of the global nutraceuticals market. These include: Technological advancements, the growing spending power of consumers in Asia Pacific, and new emerging application areas for nutraceuticals. Nutraceuticals are perceived as a means to ensure optimal gut health, creating a conducive setting for the growth of the global nutraceuticals market.
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For the purpose of this study, the global nutraceuticals market is segmented on the basis of product type and geography. Based on the type of product, analysts have created the following segments: Dietary supplements, functional food, functional beverages, and personal care and pharmaceuticals. The functional foods segment led in revenue terms, with a 31.0% share of the market as of 2014. The functional foods segment is projected to exhibit a 7.1% CAGR from 2015 through 2021. The functional beverage segment trailed in the same year, but will log a CAGR higher than that of the functional foods segment - at 7.4% through the report's forecast period.
On the basis of region, the global nutraceuticals market is segmented into: Europe, North America, Asia Pacific, and Rest of the World. The report analyzes the key national markets in each of these regions. In 2014, North America was the largest regional market for nutraceuticals. The demand for nutraceuticals is expected to remain steady in North America, owing chiefly to robust demand from the U.S. and Canada. In the same year, Asia Pacific was the second-largest market for nutraceuticals. In Asia Pacific, the demand for functional food and dietary supplements is projected to increasing conspicuously over the report's forecast period. The market is expected to see especially high consumption of vitamins-, herbal-, and minerals-based dietary supplement.
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In Europe, France and Germany exhibit the strongest demand for nutraceuticals, whereas companies regard Spain and the United Kingdom as the best test markets for innovative products. The high levels of health consciousness among European consumers is the greatest advantage that companies enjoy in the Europe nutraceuticals market. The following companies have been profiled in the report: BASF SE, Archer Daniels Midland Company, Groupe Danone S.A., Cargill, Incorporated, Aland (Jiangsu) Nutraceutical Co., Ltd., and others.
Global nutraceuticals market, by product type
- Functional Food
- Probiotics Fortified Food
- Omega Fatty Acid Fortified Food
- Branded Ionized Salt
- Branded Wheat Flour Market
- Others (nuts, grains, garlic)
- Functional Beverages
- Fruit & Vegetable Juices and Drinks
- Dairy & Dairy Alternative Drinks
- Noncarbonated Drinks (bottled water, tea and coffee)
- Other (herbal tea, sports drinks, energy drinks)
- Dietary Supplements Segment
- Proteins & Peptides
- Vitamins & Minerals
- Herbals ( Ayurvedic extracts, plant extracts, algal extracts, phytochemicals)
- Other (fatty acids, fiber)
- Personal Care and Pharmaceutical
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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company's exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR's data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
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