Global Market For Nutraceutical Supplements Is Anticipated To Expand More Than Twofold Through 2031
Nutraceutical Supplements Market Outlook
The global market for nutraceutical supplements is anticipated to surpass US$ 81 Bn in 2021, expand more than twofold through 2031. The strong growth of nutraceutical products can be attributed to the increasing prevalence of chronic diseases, such as diabetes, cholesterol, and obesity among others.
Moreover, factors like the increasing geriatric population and the growing demand for alternate pharmaceutical products are significantly contributing to the growth of nutraceutical products.
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Key Segments Covered
- Vitamins & Mineral Nutraceutical Supplements
- Herbal Nutraceutical Supplements
- Protein & Amino Acid Nutraceutical Supplements
- Prebiotics & Probiotics Nutraceutical Supplements
- Nutraceutical Supplement Softgels
- Nutraceutical Supplement Capsules
- Nutraceutical Supplement Liquids
- Nutraceutical Supplement Tablets
- Nutraceutical Supplement Powder & Granules
- Nutraceutical Supplements for Men
- Nutraceutical Supplements for Kids
- Nutraceutical Supplements for Women
- Unisex Nutraceutical Supplements
- Nutraceutical Supplement Sales via Drug Stores
- Nutraceutical Supplement Sales via Health & Beauty Stores
- Nutraceutical Supplement Sales via Modern Trade Channels
- Nutraceutical Supplement Sales via Direct Selling
- Nutraceutical Supplement Sales via Online Retailers
- Nutraceutical Supplement Sales via Convenience Stores
The global nutraceutical supplements market is highly competitive in nature. Leading players are focusing on strengthening their market position and gaining traction in the competitive global market.
- In January 2020, Kellogg’s announced the launch of a plant-based breakfast cereal designed for kids in a process involving over 1,000 children and 1,500 parents. This approach to product development was taken in order to combat the age-old issue of picky eaters – having children design the product may ensure they enjoy eating it.
- In April 2021, Nestlé and KKR entered into an agreement in which Nestlé will acquire core brands of The Bountiful Company for USD 5.75 billion. The transaction includes the high-growth brands- Nature’s Bounty®, Solgar®, Osteo Bi-Flex®, and Puritan’s Pride® as well as the company’s U.S private label business. These brands will be integrated into Nestlé Health Science, creating a global leader in vitamins, minerals, and nutritional supplements.