Nutraceuticals Market Set for 6.4% CAGR Growth to $571.3 Billion

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Jan 21, 2025, 13:26 ET

"Nutraceuticals are products like supplements, functional foods, and drinks that provide health benefits beyond basic nutrition, such as boosting wellness or managing health conditions. BCC Research Study Highlights Market Growth from $418.2 Billion in 2024 to $571.3 Billion by 2029"

BOSTON, Jan. 21, 2025 /PRNewswire/ -- According to the latest study from BCC Research, the demand for Nutraceuticals: Global Markets is expected to grow from $418.2 billion in 2024 to $571.3 billion by the end of 2029, at a compound annual growth rate (CAGR) of 6.4% during the forecast period of 2024 to 2029.

The report forecasts the nutraceuticals market from 2024 to 2029, covering major companies and market segments such as functional beverages, foods, and supplements. Applications include wellness, weight management, heart, and digestive health. The report also analyzes distribution channels such as e-commerce, supermarkets, and pharmacies, as well as regional markets of North America, Europe, Asia-Pacific, and Rest of the World.

Interesting facts

The rise of e-commerce and retail chains is driving the growth of processed food, making nutraceuticals more accessible and increasing their demand.

Factors contributing to the market's growth include:

Growing Prevalence of Overweight and Obesity: The growing number of overweight and obese people is caused by unhealthy diets, lack of exercise, and poor lifestyle choices. This can lead to heart problems, diabetes and other diseases.
Increasing Demand for Dietary Supplements: More people are turning to vitamins, minerals, and herbal supplements to improve their health, increase energy, and address nutritional gaps, driven by greater health awareness and busy lifestyles.
Increasing Healthcare Costs: Medical services, treatments, and insurance are becoming more expensive due to the world's aging populations, meaning more people with chronic diseases.

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Report Synopsis

Report Metric	Details
Base year considered	2023
Forecast period considered	2024-2029
Base year market size	$399.0 billion
Market size forecast	$571.3 billion
Growth rate	CAGR of 6.4% for the forecast period of 2024-2029
Segments covered	Product Type, Application, Distribution Channel, and Region
Regions covered	North America, Europe, Asia-Pacific, and Rest of the World
Countries covered	U.S., Canada, Mexico, Germany, France, U.K., Spain, Italy, China, India, Japan, Brazil, South Africa, and UAE
Market drivers	•Growing Prevalence of Overweight and Obesity. •Increasing Demand for Dietary Supplements. •Increasing Healthcare Costs

This report addresses the following questions:

What is the projected growth rate and size of the nutraceuticals market?
The estimated size of the nutraceuticals market will be $ 571.3 billion by the end of 2029, with a CAGR of 6.4%.
What factors are driving the growth of the nutraceuticals market?
The growing prevalence of overweight and obesity, increasing demand for dietary supplements and increasing healthcare costs.
Which product type will dominate the market in 2029?
The functional beverages segment will continue to dominate the market through 2029.
Which region has the largest market share?

North America holds the largest market share, driven by the growing demand for health and wellness products and its well-established nutraceutical industry.

Leading companies in the market include:

Abbott
Ajinomoto Co. Inc.
Beneo
Cargill Inc.
Danone S.A.
DSM-Firmenich
Herbalife International of America Inc.
Hildur Functional Foods Pvt. Ltd.
International Flavors & Fragrances Inc.
Nestle
Novozymes A/S

Related reports include:

Commercial Amino Acids: Commercial amino acids are amino acids made in large quantities for use in food, medicine, and animal feed. They are produced through fermentation or chemical methods and are used for health, nutrition, or functional purposes. Examples include glutamine, lysine, and threonine.

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