The Nutraceutical Products Market is slated to register a CAGR of 7.8% from 2023–2030 to reach $691.87 Billion by 2030. The popularity of nutraceutical products is rising due to their nutritional and medicinal benefits, changing lifestyles and the growing veganism trend, innovations in nutraceutical products, and growing venture investments in nutraceutical companies. They can improve health, delay aging, prevent chronic diseases, increase life expectancy, or support the structure and functioning of the body. They are also used to prevent and treat mental health issues and disorders, which positively impacts the demand for nutraceutical products.
The global nutraceutical products market is driven by growing demand for nutrition-enriched products, rising demand for functional beverages, increasing geriatric population and prevalence of chronic diseases, growing innovations, and new product developments. However, the high cost of nutraceutical products is expected to restrain the growth of this market to some extent. Also, counterfeiting in the nutraceutical industry is challenging the growth of the nutraceutical products market.
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The nutraceutical products market is segmented by type (functional food [dairy products, bakery products, snacks, confectionery products, infant food products, other functional food], functional beverages [energy drinks, sports drinks, fortified juices, dairy-based beverages, other functional beverages], dietary supplements [tablets, capsules, powder form, liquid form, other dietary supplements], source (vitamins, probiotics, minerals, proteins and amino acids, omega-3 fatty acids, prebiotics, phytochemical & plant extracts, fibers & specialty carbohydrates, other sources), distribution channel (supermarkets & hypermarkets, convenience stores, pharmacies & drug stores, specialty stores, e-commerce, other distribution channels), and geography (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa). The study also evaluates industry competitors and analyzes the market at regional and country levels.

Based on type, in 2023, the functional food segment is expected to account for the largest share of the global nutraceutical products market. The large market share of this segment is attributed to the growing demand for nutritional & fortifying food products and rising awareness about the health benefits of consuming these products. Consumers are increasingly drawn to food with functional ingredients to lower the risk of specific health concerns, such as obesity, weight loss, diabetes, and cardiovascular diseases, which contribute to the growth of this segment.
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Based on source, the prebiotics segment is slated to register the highest CAGR during the forecast period. This segment's rapid growth is attributed to the rising chronic disorders and increasing health concerns regarding gut health, increasing consumption of prebiotics, and rising awareness about the benefits of prebiotics. The growing use of prebiotics in infant formulas is expected to create growth opportunities for players in this market.
Based on distribution channel, in 2023, the supermarkets & hypermarkets segment is expected to account for the larger share of the global nutraceutical products market. The large market share of this segment is attributed to rapid urbanization, rising per capita disposable incomes, consumers’ increasing adoption of healthy eating habits, and increased sales of functional food and beverages in well-established supermarkets and hypermarkets.
Based on geography, in 2023, North America is expected to account for the largest share of the nutraceutical products market. The large market share of this region is attributed to the well-established food & beverage industry; high awareness of the health benefits of nutraceuticals; the growing popularity of protein bars, shakes, and cookies among millennials; the rising demand for clean-label nutraceutical products; growing vegan trend and increasing health-conscious consumers; and advancements in nutrition and technology.
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Key Players
The global nutraceutical products market is characterized by a moderately competitive scenario due to the presence of many large and small-sized global, regional, and local players. The key players operating in the global nutraceutical products market are Abbott Laboratories (U.S.), Amway Corporation (U.S.), Conagra Brands, Inc. (U.S.), Danone S.A. (France), General Mills Inc. (U.S.), Glanbia plc (Ireland), Herbalife Nutrition Ltd. (U.S.), International Flavors & Fragrances Inc. (U.S.), Kellogg Company (U.S.), Nestle S.A. (Switzerland), PepsiCo, Inc. (U.S.), The Coca Cola Company (U.S.), Hearthside Food Solutions LLC (U.S.), Mars, Incorporated (U.S.), Meiji Holdings Co., Ltd (Japan), and Royal FrieslandCampina N.V. (Netherlands).
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