A nutraceuticals market report, published by Allied Market Research, forecasts that the global market is expected to be $184,092 million in 2015, growing at a CAGR of 7.04% from 2016 to 2022 to reach $302,306 million by 2022
The functional food segment dominated the market in 2015 with more than a one-fourth share, in terms of revenue.
Nutraceuticals are standardised food sources with extra benefits in addition to the basic nutritional value found in food.
The integration of nutraceuticals with personal care has benefited the cosmeceuticals market, owing to their antiageing properties.
In addition, the increase in demand for nutraceuticals in dietary supplement products is expected to drive the market — owing to the decreased use of genetically modified foods and crops.
Expensive medical treatments have paved the way for nutraceuticals as an alternative to expensive drugs, which is expected to boom in the near future. However, the production of nutraceuticals — coupled with raw material costs — has increased substantially, restricting the affordability of the consumers. Read more here.
Both functional foods and beverages occupy three fifths of the total volume by revenue. Nutraceuticals influence drug metabolism, and can also boost the action of pharmaceuticals in the body when optimally balanced, thus opening lucrative business opportunities through patented combinations of nutraceuticals and pharmaceuticals.
Key findings of the nutraceutical market include
Asia-Pacific and Europe collectively contributed more than half of the share to the global nutraceuticals market revenue in 2015. India is expected to achieve a CAGR of 14.23% during the forecast period.
The top market players include Archer Daniels Midland Company, Cargill, Royal DSM, BASF, Nestle, Groupe Danone, E.I. du Pont de Nemours and Company, PepsiCo, Aland (Jiangsu) Nutraceutical and General Mills.