The global nutraceuticals market size is predicted to reach USD 486.36 billion by 2026, exhibiting a CGAR of 8.14% during the forecast period. The growing demand for functional food and beverage will create new opportunities for the nutraceuticals market growth during the forecast period. The surge in product development and innovation activities and rising availability of nutraceutical products will augur well for the market. In addition, the increasing adoption of unique marketing strategies by key players will enable healthy growth of the market in the forthcoming years.
According to the published report, by Fortune Business Insights, titled “Nutraceuticals Market Size, Share & Industry Analysis, By Product Type (Functional Foods, Functional Beverages, and Dietary Supplements), Distribution Channel (Supermarkets/ Hypermarkets, Convenience Stores, Online Retail and Others), and Regional Forecast, 2019 – 2026” the market size stood at USD 486.36 billion by 2026. The nutraceuticals market report offers informative insights into all the prevailing trends of the nutraceuticals market analysis. It shares a comprehensive summary of all the segments and regions. It provides statistical data on all the recent developments in the market. It is created after extensive research followed by all-encompassing analysis to benefit companies, stakeholders, financers, and potential investors. It is designed with an aim to provide a clear picture of the market size. Moreover, it also includes product launches, acquisitions, collaborations & partnerships, and innovations and industry developments.
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Launch of Nutrilite Cal Mag D Plus by Amway India to Boost Market Prospects
Amway India, India’s largest direct selling FMCG Company, launched Nutrilite Cal Mag D Plus, an enhanced version of the calcium supplement. The newly introduced calcium supplement offers vital nutrition to support and aid in the development of healthy bones. The Nutrilite Cal Mag D Plus is filled with rich algal source along with calcium carbonate and vitamin D that promotes calcium absorption. The unveiling of the new product by Amway India can be a critical factor in accelerating the nutraceuticals market revenue owing to its nutrients comprisal such as magnesium, manganese, and zinc along with vitamin D for the promotion of healthy bones.
Furthermore, the Senior Research Scientist, at Nutrilite Health Institute, Amway, said in a statement, our current lifestyle which includes less exposure to the sun, irregular eating habits, and junk food preference in the daily diet can lead to a shortfall in essential nutrients required by the body. Calcium is one of the key micronutrients that is needed to support important functions in the human body that goes beyond just healthy bones and teeth. While food is the best source, a high-quality dietary supplement can help fill the nutrient gap in our modern diet. He Further added, “we have procured plant-based calcium from an algal source and additional vitamin D to promote calcium absorption, as well as added zinc, manganese and magnesium, making Cal Mag D Plus more effective calcium supplement.” In addition, increasing R&D by prominent players for the development of novel products is predicted to benefit the nutraceuticals market in India and others countries.
Increasing Health Awareness to Stimulate Growth in Asia Pacific
The market in Asia Pacific is predicted to grow significantly during the forecast period owing to the growing health awareness. The increasing disposable income in countries of Asia Pacific has led to a surge in spending for nutritional products to prevent lifestyle diseases and improve overall health. The market in North America stood at USD 66.71 billion and is likely to witness high growth during the forecast period owing to the prevalence of lifestyle-related conditions such as obesity, diabetics, and cardiovascular diseases in the region.
The Report Lists the Key Companies in the Global Nutraceuticals Market Include:
- Danone S.A.
- Nestle S.A.
- Glanbia Nutritionals
- Herbalife International of America, Inc.
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