Nutraceuticals market size to grow by USD 223.56 billion from 2022 to 2027, Growing preference for personalized nutrition to be a key trend - Technavio

NEW YORK, May 10, 2023 /PRNewswire/ -- Technavio has been monitoring the nutraceuticals market, and it is expected to grow by USD 223.56 billion from 2022 to 2027. As per the latest report, the market will progress at a CAGR of 8.46%. This report aid business leaders with an up-to-date analysis that includes the study of the current market scenario, the latest trends and drivers that are likely to influence the market growth, and the overall market environment. The growing preference for personalized nutrition is a key trend in the market. Personalized nutrition is helpful for gut-related medical conditions. Hence, consumers are changing their diets to improve their health by opting for tailored nutritional solutions. Vendors are introducing specialized food products for such customers. The gradual adoption of prebiotic and probiotic food products by consumers will encourage companies to offer probiotic products. These factors will support nutraceuticals market growth during the forecast period. Download latest sample report within minutes!

The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Abbott Laboratories, Advanced Orthomolecular Research Inc., Amway Corp., Archer Daniels Midland Co., BASF SE, Bayer AG, Better Being Corp., Cargill Inc., COSUCRA, Danone SA, General Mills Inc., Herbalife International of America Inc., Innutrigel AG, International Flavors and Fragrances Inc., LKK Health Products Group, Nestle SA, PepsiCo Inc., Pfizer Inc., RBK NUTRACEUTICALS Pty Ltd., and The Coca Cola Co. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments.

The increasing cost of medical treatment is driving market growth. The growing burden of diseases directly increases overall healthcare costs, as patients have to spend on treatment, medicine, and hospitals. Thus, many people prefer nutraceuticals such as dietary supplements and fortified dairy products, which contain nutrients such as vitamins, proteins, carotenoids, fibers, polyphenols, and probiotics. This helps patients reduce frequent hospital visits and treatment, especially those who do not have access to advanced healthcare facilities. These factors will fuel market growth during the forecast period.

Nutraceuticals Market 2023-2027: Segmentation

• Distribution channel 
• Offline
• Online
• Product 
• Functional food
• Functional beverages
• Dietary supplements
• Geography 
• North America
• APAC
• Europe
• Middle East and Africa
• South America

The offline segment will account for a significant share of market growth during the forecast period. This segment includes department stores, supermarkets, hypermarkets, and convenience stores. Large retail chains such as Tesco Plc (Tesco), Walmart Inc. (Walmart), and Target Corp. (Target) have separate sections for nutritional supplements. Vendors use advertising and marketing strategies such as branding or discounts to attract customers. Such factors will drive segment growth during the forecast period.

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Nutraceuticals Market 2023-2027: Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our nutraceuticals market report covers the following areas:

• Nutraceuticals market size
• Nutraceuticals market trends
• Nutraceuticals market industry analysis
• Nutraceuticals market five forces analysis
• Nutraceuticals market competitive landscape

The high cost of nutraceuticals is challenging market growth. Dietary supplement manufacturers should conduct R&D to create innovative products. However, this involves high cost, which increases the cost of the products. For instance, Vitalzym supplements by World Nutrition costs around USD 120, as they contain ingredients such as serrapeptase, bromelain, papain, rutin, amylase, protease, lipase, and amla extract. This supplement helps promote muscle recovery, joint function, immune system, and cardiovascular system. The high cost of such products will impede market growth during the forecast period.

What's new? -

• Special coverage on the Russia-Ukraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession
• Global competitiveness and key competitor positions
• Market presence across multiple geographical footprints - Strong/active/niche/trivial - Buy the report!

Nutraceuticals Market 2023-2027: Vendor analysis

We provide a detailed analysis of around 25 vendors operating in the nutraceuticals market. Backed with competitive intelligence and benchmarking, our research reports on the Nutraceuticals Market are designed to provide entry support, customer profile, and M&As, as well as go-to-market strategy support.

Vendor offerings

• Advanced Orthomolecular Research Inc. - The company offers AOR cold and flu supplements, postbiotic boost, and andrographis.
• Amway Corp. - The company offers healthcare supplements under its brand Nutrilite.
• Archer Daniels Midland Co. - The company offers health supplements such as CardioAid, Fibersol, NovaTol, and Onavita.
• BASF SE - The company offers health supplements such as Beta carotene, Dry n3 Omega 3 capsules, and LycoVit.

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Nutraceuticals Market 2023-2027: Key Highlights

• CAGR of the market during the forecast period 2023-2027
• Detailed information on factors that will assist nutraceuticals market growth during the next five years
• Estimation of the nutraceuticals market size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the nutraceuticals market
• Analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of nutraceuticals market vendors

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Table of Contents :

1 Executive Summary

• 1.1 Market overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Distribution Channel
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Product
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ billion)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ billion)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global nutraceuticals market 2017 - 2021
• Exhibit 18: Historic Market Size – Data Table on Global nutraceuticals market 2017 - 2021 ($ billion)

• 4.2 Distribution channel Segment Analysis 2017 - 2021
• Exhibit 19: Historic Market Size – Distribution channel Segment 2017 - 2021 ($ billion)

• 4.3 Product Segment Analysis 2017 - 2021
• Exhibit 20: Historic Market Size – Product Segment 2017 - 2021 ($ billion)

• 4.4 Geography Segment Analysis 2017 - 2021
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ billion)

• 4.5 Country Segment Analysis 2017 - 2021
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ billion)

5 Five Forces Analysis

• 5.1 Five forces summary 
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry 
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition 
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Distribution Channel

• 6.1 Market segments 
• Exhibit 30: Chart on Distribution Channel - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Distribution Channel - Market share 2022-2027 (%)

• 6.2 Comparison by Distribution Channel 
• Exhibit 32: Chart on Comparison by Distribution Channel
• Exhibit 33: Data Table on Comparison by Distribution Channel

• 6.3 Offline - Market size and forecast 2022-2027
• Exhibit 34: Chart on Offline - Market size and forecast 2022-2027 ($ billion)
• Exhibit 35: Data Table on Offline - Market size and forecast 2022-2027 ($ billion)
• Exhibit 36: Chart on Offline - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Offline - Year-over-year growth 2022-2027 (%)

• 6.4 Online - Market size and forecast 2022-2027
• Exhibit 38: Chart on Online - Market size and forecast 2022-2027 ($ billion)
• Exhibit 39: Data Table on Online - Market size and forecast 2022-2027 ($ billion)
• Exhibit 40: Chart on Online - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Online - Year-over-year growth 2022-2027 (%)

• 6.5 Market opportunity by Distribution Channel
• Exhibit 42: Market opportunity by Distribution Channel ($ billion)
• Exhibit 43: Data Table on Market opportunity by Distribution Channel ($ billion)

7 Market Segmentation by Product

• 7.1 Market segments 
• Exhibit 44: Chart on Product - Market share 2022-2027 (%)
• Exhibit 45: Data Table on Product - Market share 2022-2027 (%)

• 7.2 Comparison by Product 
• Exhibit 46: Chart on Comparison by Product
• Exhibit 47: Data Table on Comparison by Product

• 7.3 Functional food - Market size and forecast 2022-2027
• Exhibit 48: Chart on Functional food - Market size and forecast 2022-2027 ($ billion)
• Exhibit 49: Data Table on Functional food - Market size and forecast 2022-2027 ($ billion)
• Exhibit 50: Chart on Functional food - Year-over-year growth 2022-2027 (%)
• Exhibit 51: Data Table on Functional food - Year-over-year growth 2022-2027 (%)

• 7.4 Functional beverages - Market size and forecast 2022-2027 
• Exhibit 52: Chart on Functional beverages - Market size and forecast 2022-2027 ($ billion)
• Exhibit 53: Data Table on Functional beverages - Market size and forecast 2022-2027 ($ billion)
• Exhibit 54: Chart on Functional beverages - Year-over-year growth 2022-2027 (%)
• Exhibit 55: Data Table on Functional beverages - Year-over-year growth 2022-2027 (%)

• 7.5 Dietary supplements - Market size and forecast 2022-2027 
• Exhibit 56: Chart on Dietary supplements - Market size and forecast 2022-2027 ($ billion)
• Exhibit 57: Data Table on Dietary supplements - Market size and forecast 2022-2027 ($ billion)
• Exhibit 58: Chart on Dietary supplements - Year-over-year growth 2022-2027 (%)
• Exhibit 59: Data Table on Dietary supplements - Year-over-year growth 2022-2027 (%)

• 7.6 Market opportunity by Product 
• Exhibit 60: Market opportunity by Product ($ billion)
• Exhibit 61: Data Table on Market opportunity by Product ($ billion)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 62: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 63: Chart on Market share by geography 2022-2027 (%)
• Exhibit 64: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 65: Chart on Geographic comparison
• Exhibit 66: Data Table on Geographic comparison

• 9.3 North America - Market size and forecast 2022-2027
• Exhibit 67: Chart on North America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 68: Data Table on North America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 69: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 70: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.4 APAC - Market size and forecast 2022-2027
• Exhibit 71: Chart on APAC - Market size and forecast 2022-2027 ($ billion)
• Exhibit 72: Data Table on APAC - Market size and forecast 2022-2027 ($ billion)
• Exhibit 73: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 74: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.5 Europe - Market size and forecast 2022-2027
• Exhibit 75: Chart on Europe - Market size and forecast 2022-2027 ($ billion)
• Exhibit 76: Data Table on Europe - Market size and forecast 2022-2027 ($ billion)
• Exhibit 77: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 78: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.6 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 79: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
• Exhibit 80: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
• Exhibit 81: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 82: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.7 South America - Market size and forecast 2022-2027
• Exhibit 83: Chart on South America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 84: Data Table on South America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 85: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 86: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.8 US - Market size and forecast 2022-2027
• Exhibit 87: Chart on US - Market size and forecast 2022-2027 ($ billion)
• Exhibit 88: Data Table on US - Market size and forecast 2022-2027 ($ billion)
• Exhibit 89: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 90: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.9 Germany - Market size and forecast 2022-2027
• Exhibit 91: Chart on Germany - Market size and forecast 2022-2027 ($ billion)
• Exhibit 92: Data Table on Germany - Market size and forecast 2022-2027 ($ billion)
• Exhibit 93: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 94: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.10 Japan - Market size and forecast 2022-2027
• Exhibit 95: Chart on Japan - Market size and forecast 2022-2027 ($ billion)
• Exhibit 96: Data Table on Japan - Market size and forecast 2022-2027 ($ billion)
• Exhibit 97: Chart on Japan - Year-over-year growth 2022-2027 (%)
• Exhibit 98: Data Table on Japan - Year-over-year growth 2022-2027 (%)

• 9.11 UK - Market size and forecast 2022-2027
• Exhibit 99: Chart on UK - Market size and forecast 2022-2027 ($ billion)
• Exhibit 100: Data Table on UK - Market size and forecast 2022-2027 ($ billion)
• Exhibit 101: Chart on UK - Year-over-year growth 2022-2027 (%)
• Exhibit 102: Data Table on UK - Year-over-year growth 2022-2027 (%)

• 9.12 India - Market size and forecast 2022-2027
• Exhibit 103: Chart on India - Market size and forecast 2022-2027 ($ billion)
• Exhibit 104: Data Table on India - Market size and forecast 2022-2027 ($ billion)
• Exhibit 105: Chart on India - Year-over-year growth 2022-2027 (%)
• Exhibit 106: Data Table on India - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 107: Market opportunity by geography ($ billion)
• Exhibit 108: Data Tables on Market opportunity by geography ($ billion)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 109: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape 
• Exhibit 110: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption 
• Exhibit 111: Overview on factors of disruption

• 11.4 Industry risks 
• Exhibit 112: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered 
• Exhibit 113: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 114: Matrix on vendor position and classification

• 12.3 Abbott Laboratories 
• Exhibit 115: Abbott Laboratories - Overview
• Exhibit 116: Abbott Laboratories - Business segments
• Exhibit 117: Abbott Laboratories - Key news
• Exhibit 118: Abbott Laboratories - Key offerings
• Exhibit 119: Abbott Laboratories - Segment focus

• 12.4 Advanced Orthomolecular Research Inc.
• Exhibit 120: Advanced Orthomolecular Research Inc. - Overview
• Exhibit 121: Advanced Orthomolecular Research Inc. - Product / Service
• Exhibit 122: Advanced Orthomolecular Research Inc. - Key offerings

• 12.5 Amway Corp. 
• Exhibit 123: Amway Corp. - Overview
• Exhibit 124: Amway Corp. - Product / Service
• Exhibit 125: Amway Corp. - Key news
• Exhibit 126: Amway Corp. - Key offerings

• 12.6 Archer Daniels Midland Co. 
• Exhibit 127: Archer Daniels Midland Co. - Overview
• Exhibit 128: Archer Daniels Midland Co. - Business segments
• Exhibit 129: Archer Daniels Midland Co. - Key offerings
• Exhibit 130: Archer Daniels Midland Co. - Segment focus

• 12.7 BASF SE 
• Exhibit 131: BASF SE - Overview
• Exhibit 132: BASF SE - Business segments
• Exhibit 133: BASF SE - Key news
• Exhibit 134: BASF SE - Key offerings
• Exhibit 135: BASF SE - Segment focus

• 12.8 Bayer AG 
• Exhibit 136: Bayer AG - Overview
• Exhibit 137: Bayer AG - Business segments
• Exhibit 138: Bayer AG - Key news
• Exhibit 139: Bayer AG - Key offerings
• Exhibit 140: Bayer AG - Segment focus

• 12.9 Better Being Corp. 
• Exhibit 141: Better Being Corp. - Overview
• Exhibit 142: Better Being Corp. - Product / Service
• Exhibit 143: Better Being Corp. - Key offerings

• 12.10 Cargill Inc. 
• Exhibit 144: Cargill Inc. - Overview
• Exhibit 145: Cargill Inc. - Product / Service
• Exhibit 146: Cargill Inc. - Key news
• Exhibit 147: Cargill Inc. - Key offerings

• 12.11 COSUCRA 
• Exhibit 148: COSUCRA - Overview
• Exhibit 149: COSUCRA - Product / Service
• Exhibit 150: COSUCRA - Key offerings

• 12.12 Danone SA 
• Exhibit 151: Danone SA - Overview
• Exhibit 152: Danone SA - Business segments
• Exhibit 153: Danone SA - Key news
• Exhibit 154: Danone SA - Key offerings
• Exhibit 155: Danone SA - Segment focus

• 12.13 General Mills Inc. 
• Exhibit 156: General Mills Inc. - Overview
• Exhibit 157: General Mills Inc. - Business segments
• Exhibit 158: General Mills Inc. - Key news
• Exhibit 159: General Mills Inc. - Key offerings
• Exhibit 160: General Mills Inc. - Segment focus

• 12.14 International Flavors and Fragrances Inc.
• Exhibit 161: International Flavors and Fragrances Inc. - Overview
• Exhibit 162: International Flavors and Fragrances Inc. - Business segments
• Exhibit 163: International Flavors and Fragrances Inc. - Key news
• Exhibit 164: International Flavors and Fragrances Inc. - Key offerings
• Exhibit 165: International Flavors and Fragrances Inc. - Segment focus

• 12.15 Nestle SA 
• Exhibit 166: Nestle SA - Overview
• Exhibit 167: Nestle SA - Business segments
• Exhibit 168: Nestle SA - Key news
• Exhibit 169: Nestle SA - Key offerings
• Exhibit 170: Nestle SA - Segment focus

• 12.16 PepsiCo Inc. 
• Exhibit 171: PepsiCo Inc. - Overview
• Exhibit 172: PepsiCo Inc. - Business segments
• Exhibit 173: PepsiCo Inc. - Key news
• Exhibit 174: PepsiCo Inc. - Key offerings
• Exhibit 175: PepsiCo Inc. - Segment focus

• 12.17 The Coca Cola Co. 
• Exhibit 176: The Coca Cola Co. - Overview
• Exhibit 177: The Coca Cola Co. - Business segments
• Exhibit 178: The Coca Cola Co. - Key news
• Exhibit 179: The Coca Cola Co. - Key offerings
• Exhibit 180: The Coca Cola Co. - Segment focus

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist
• Exhibit 181: Inclusions checklist
• Exhibit 182: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 183: Currency conversion rates for US$

• 13.4 Research methodology 
• Exhibit 184: Research methodology
• Exhibit 185: Validation techniques employed for market sizing
• Exhibit 186: Information sources

• 13.5 List of abbreviations 
• Exhibit 187: List of abbreviations

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