Published Date: 31-Mar-2022
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According to a new report, published by KBV research, The Global Nutraceuticals Market size is expected to reach $743.6 billion by 2027, rising at a market growth of 8.6% CAGR during the forecast period.
The Functional Food segment acquired maximum revenue share in the Global Nutraceuticals Market by Type in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $316.2 billion by 2027. A modified food that purports to benefit health is referred to as functional food. It does not cure disease, but it does help to minimize the risk of fatal diseases by enhancing the body's health by supplying important minerals and proteins. Incorporating functional foods into one's diet can improve one's physiological status. The rising importance of adopting functional food products among consumers would surge the growth of the segment.
The Specialty Stores segment has high growth rate of 9.1% during (2021 - 2027). A specialty store is a shop or store that carries a wide range of styles, brands, or models under a relatively small product category. Since the working staff of the stores has sound knowledge of each kind of products and their composition, they help consumers to choose best suited products for themselves.
The Capsule & Tablets segment is leading the Global Nutraceuticals Market by Form in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $371.4 billion by 2027. Capsules & tablets are the most frequently used and generally available nutraceutical formulations on the market. They are easily available and consumable and hence, the demand for nutraceuticals in form of capsules and tablets would increase in the coming years.
The Asia Pacific is the fastest growing region in the Global Nutraceuticals Market by Region in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $268.6 billion by 2027. The Europe market is exhibiting a CAGR of 8.1% during (2021 - 2027). Additionally, The North America market would display a CAGR of 7.9% during (2021 - 2027).
Full Report: https://www.kbvresearch.com/nutraceuticals-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Nestle S.A., General Mills, Inc., Archer Daniels Midland Company, Danone, S.A., Koninklijke DSM N.V., International Flavors & Fragrances, Inc., Herbalife International, Inc., The Hain Celestial Group, Inc., Amway Corporation, and Cargill Corporation.
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