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The global nutraceutical products market attained a value of about USD 351.82 billion in 2023. The market is further expected to grow in the forecast period of 2024-2032 at a CAGR of 7.1% to reach nearly USD 652.27 billion by 2032.
Base Year
Historical Year
Forecast Year
Global Nutraceutical Products Market Report Summary | Description | Value |
Base Year | USD Billion | 2023 |
Historical Period | USD Billion | 2018-2023 |
Forecast Period | USD Billion | 2024-2032 |
Market Size 2023 | USD Billion | 351.82 |
Market Size 2032 | USD Billion | 652.27 |
CAGR 2018-2023 | Percentage | XX% |
CAGR 2024-2032 | Percentage | 7.1% |
CAGR 2024-2032 - Market by Region | Latin America | 7.4% |
CAGR 2024-2032 - Market by Country | India | 8.0% |
CAGR 2024-2032 - Market by Country | Brazil | 7.8% |
CAGR 2024-2032 - Market by Type | Dietary Supplements | 7.7% |
CAGR 2024-2032 - Market by Distribution Channel | Specialty Stores | 7.5% |
Market Share by Country 2023 | Mexico | 2.4% |
The growing awareness regarding the importance of optimal nutrition is propelling the growth of the nutraceutical products industry. With the growing prevalence of chronic diseases, the demand for nutraceutical products is increasing, hence driving the growth of the nutraceutical products market. The growing demand for nutraceutical beverages owing to the rising inclination towards a healthy lifestyle is driving the market growth. As the consumption of energy drinks and functional beverages is increasing, the market for nutraceutical products is witnessing robust growth.
The market growth can be attributed to the increasing healthcare costs, especially in developing countries, which, in turn, is bolstering the use of nutraceutical products as preventative healthcare. The growing preference for alternatives to over-the-counter prescription drugs and medications is surging the demand for nutraceutical products, which is propelling the growth of the market. As the focus on holistic wellbeing is surging, the demand for nutraceutical products is rapidly growing.
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The increasing popularity of beverages containing antioxidants, minerals, and vitamins, among others, is driving the market growth. Nutraceutical beverages are increasingly consumed for their beauty offerings and anti-ageing effects, which is significantly contributing to the nutraceutical products demand. Moreover, the increasing innovations to enhance the solubility of nutraceutical beverages to boost product stability and nutritional composition is expected to bolster the market growth in the forecast period.
As the rising prevalence of indigestion, celiac diseases, and various gut-health issues is increasing, the demand for nutraceutical products, notably containing probiotics, is significantly surging. The increasing research and development (R&D) activities to determine the scientific benefits of nutraceutical products are invigorating the market growth. The potential development of innovative nutraceutical products that can promote holistic wellbeing is projected to propel the growth of the market. With the increasing collaborations of pharmaceuticals and food companies to develop nutraceutical products as preventive medicines, the market is poised to witness robust growth in the coming years.
Tata 1mg, in collaboration with Vitonnix, a healthcare product research and development firm based in the UK, is set to expand its presence in the Indian nutraceutical market by introducing a variety of new products, which can affect the nutraceutical products market dynamics and trends. In the initial phase, the companies have launched five sublingual sprays designed to fulfill daily vitamin and health supplement needs, specifically Vitamin D, Melatonin, Biotin, Veg Omega, and Multivitamin.
Rising Demand for Supplements aids the Growth of the Nutraceutical Products Market.
As per the nutraceutical products industry analysis, the U.S. vitamin and supplement manufacturing market has seen steady growth from 2018 to 2022. In 2018, the market was valued at $32.9 billion and grew to USD 35.6 billion by 2022. This continuous growth reflects rising consumer interest in health and wellness, driven by an increasing focus on preventive healthcare. According to 2023 data, Vitamin D leads as the most popular supplement, with 66% of Americans using it. Magnesium follows at 53.5%, while Fish Oil and CoQ10 are consumed by 52.5% and 45.7% of Americans, respectively. Multivitamins, probiotics, and turmeric are also among the top supplements, each holding a significant share of the market.
Other popular supplements include vitamin C, B-complex, and B12, demonstrating consumers’ demand for products that support immunity, energy, and overall well-being, further contributing to the growth of the nutraceutical products industry. This trend indicates a strong correlation with the nutraceutical products market, as consumers increasingly prioritize supplements that offer targeted health benefits. The rising adoption of supplements such as probiotics, turmeric, and CoQ10 reflects a demand for functional ingredients commonly found in nutraceuticals.
According to the ITC Trade Map, in 2022, the United Kingdom imported 4,683 tonnes of seaweed, maintaining a strong position among European importers. Norway followed closely with 4,154 tonnes, demonstrating continued demand for seaweed. Denmark significantly increased its imports to 2,889 tonnes, reflecting a growing interest in seaweed-based products. The Netherlands maintained stable imports at 1,019 tonnes, showing steady demand that increased nutraceutical products industry revenue. Austria and Spain imported similar volumes, with 979 tonnes and 959 tonnes, respectively. This trend indicates that seaweed, a key ingredient in nutraceutical products, is in high demand across Europe. Seaweed’s rich nutritional content, including antioxidants, vitamins, and minerals, makes it an attractive ingredient for nutraceutical formulations.
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Nutraceutical products refer to fortified food products or food that provide numerous health benefits and aid in the treatment of various diseases. They are typically derived from minerals, herbs, vitamins, and dietary products that boost immunity against diseases. They consist of food and beverages and are consumed as preventive healthcare measures to reduce the burden on the healthcare sector.
The major types of nutraceutical products in nutraceutical products market are:
The food segment is further divided into snacks, confectionery products, bakery products, dairy products, and infant nutrition products, whereas the beverages segment is classified into health drinks, energy drinks, and juices. Meanwhile, the dietary supplements segment is further categorised into tablets, liquid, and powder, among others.
The nutraceutical products market can be broadly categorised on the basis of its distribution channels into:
The conventional stores segment can be segmented into grocery stores, mass merchandisers, warehouse clubs, and online retailers, whereas the speciality stores segment is divided into bakery stores, confectionery stores, gourmet stores, health centres, and cosmetic stores.
Based on sources, the market is classified into:
The EMR report looks into the regional markets of nutraceutical products like:
Dietary supplements are expected to gain a CAGR of 7.7% in the forecast period. Consumers are increasingly focusing on preventive healthcare and overall wellness, leading to higher demand for dietary supplements, which can fuel nutraceutical products market opportunities. The rise in chronic illnesses such as obesity and diabetes has prompted individuals to incorporate supplements into their diets for better health management. Moreover, innovations in supplement formulations and delivery methods have made products more accessible and appealing to a broader audience.
The report presents a detailed analysis of the following key players in the global nutraceutical products market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
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The Asia Pacific market is expected to account for a major nutraceutical products market share and gain significant growth in the coming years. With the growing demand for convenience and the emerging trend of on-the-go products, the demand for nutraceutical snacks is significantly surging in the region. Countries such as India and China are expected to gain a CAGR of 8.0% and 7.6% in the forecast period. The increasing emphasis on snacking that provides nutritional boom by the health-conscious consumers is escalating the demand for protein bars, granola bars, and dry nuts, among others, hence fuelling the industry growth.
CAGR 2024-2032 - Market by | Country |
India | 8.0% |
Brazil | 7.8% |
China | 7.6% |
USA | 7.6% |
UK | 7.2% |
Canada | XX% |
France | XX% |
Italy | XX% |
Japan | XX% |
Australia | XX% |
Saudi Arabia | XX% |
Mexico | 7.2% |
Germany | 6.5% |
As consumers are increasingly preferring snacking with innovative flavours and textures, leading companies are launching innovative nutraceutical snacks to bolster the flavour profile while offering various health benefits. In addition, the emerging trend of personalised medicines and genomics are predicted to provide further impetus to the growth of the nutraceutical products industry in the forecast period.
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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In 2023, the global nutraceutical products market attained a value of nearly USD 351.82 billion.
The market is projected to grow at a CAGR of 7.10% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach about USD 652.27 billion by 2032.
The market is being aided by the growing awareness regarding the importance of optimal nutrition, the increasing healthcare costs, and the rising demand for nutraceutical beverages.
The industry is projected to be propelled by the increasing demand for nutraceutical snacks, the rising prevalence of indigestion, and the increasing research and development (R&D) activities, to determine the efficacy of nutraceutical products.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The major types of nutraceutical products in the industry are food, beverages, and dietary supplements.
The significant distribution channels in the market are conventional stores, speciality stores, and drugstores and pharmacies.
The various sources of nutraceutical products are proteins and amino acids, probiotics, phytochemicals and plant extracts, fibres and speciality carbohydrates, omega-3 fatty acids, vitamins, prebiotics, carotenoids, and minerals, among others.
The major players in the industry are Conagra Brands, Inc., General Mills, Inc., Nestlé S.A., Pfizer Inc., and Freedom Foods Group Limited, among others.
Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Type |
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Breakup by Distribution Channel |
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Breakup by Source |
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Breakup by Region |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124
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