Nutraceuticals Market to Grow with a CAGR of 9.47% Globally through 2029

Growing demand of nutraceuticals in cosmetic industry is expected to drive the Global Nutraceuticals Market  growth in the forecast period, 2025-2029.

According to TechSci Research report, “Nutraceuticals Market - Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2019-2029F”, the Global Nutraceuticals Market  stood at USD 320.05 billion in 2023 and is anticipated to grow with a CAGR of 9.47% in the forecast period, 2024-2029. Initiatives taken by government based on nutraceuticals has led to favorable market conditions for the Global Nutraceuticals Market. Several factors contribute to the growth of various nutraceuticals products.

Governments launch public awareness campaigns and educational programs to promote understanding of the role of nutraceuticals in maintaining health and preventing disease. These initiatives often aim to educate consumers about the benefits of a balanced diet supplemented with nutraceuticals.

Governments participate in international trade agreements and harmonization efforts to promote the global trade of nutraceutical products. These agreements often include provisions for mutual recognition of regulatory standards and cooperation on issues such as product safety and labeling.

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Nutraceuticals offer a range of benefits for skin health and appearance, encompassing anti-aging properties, hydration, defense against environmental damage, and enhancement of skin texture and tone. Ingredients such as vitamins (e.g., vitamin C, vitamin E), antioxidants (e.g., green tea extract, resveratrol), collagen peptides, hyaluronic acid, and omega-3 fatty acids are commonly incorporated into cosmetic formulations to target specific skin concerns and improve overall skin health.

The convergence of the beauty and wellness sectors has spurred the development of "beauty from within" or "ingestible beauty" products, which promote beauty and skin health through oral supplementation. These products typically feature a blend of nutraceutical ingredients intended to nourish the skin from within, complementing topical skincare regimens. As consumers increasingly grasp the interconnectedness of inner health and outer beauty, the demand for these ingestible beauty products continues to surge.

The Global Nutraceuticals Market  is segmented into product type, form, source, distribution channel, regional distribution, and company.

Based on its distribution channel, the specialty stores segment demonstrated the significant dominance in the forecast period. Specialty stores employ staff who are knowledgeable about nutraceuticals and can provide personalized recommendations to customers. This expertise can help consumers make informed decisions about which products to purchase based on their individual health goals and concerns.

Specialty stores carefully curate their product offerings to align with their brand identity and values. This curation process can help differentiate them from mass-market retailers and create a unique selling proposition that resonates with health-conscious consumers.

Based on region, Asia Pacific segment is expected to grow during the forecast period. 

The Asia-Pacific region boasts a rich heritage of traditional medicine systems, deeply rooted in cultural practices and centuries-old wisdom. Ayurveda, Traditional Chinese Medicine (TCM), and Kampo medicine stand out as pillars of holistic wellness and natural healing. These traditional systems have not only endured the test of time but have also gained widespread acceptance and reverence across generations.

There has been a notable convergence between traditional medicine philosophies and the burgeoning nutraceutical industry in recent years. Nutraceuticals, characterized by their blend of nutritional and pharmaceutical properties, have found a natural synergy with the principles espoused by traditional medicine systems. This alignment is not merely coincidental but rather stems from a shared emphasis on harnessing the healing power of nature and promoting overall well-being.

Major companies operating in Global Nutraceuticals Market  are:

• Archer Daniels Midland Company
• BASF SE
• Nestle S.A.
• Danone S.A.
• General Mills Inc.
• Koninklijke DSM N.V.
• Herbalife International of America, Inc.
• Abbott Laboratories, Inc.
• Pfizer Inc.
• GlaxoSmithKline plc.

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“The global nutraceuticals market has experienced a notable increase in e-commerce activity over the past decade, propelled by various factors, including rising health consciousness among consumers. E-commerce platforms have empowered nutraceutical companies to access a global audience without requiring physical presence in every market. This has created new opportunities for small and medium-sized enterprises (SMEs) to vie on an equal footing with larger players, fostering increased competition and innovation within the industry.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.

“Nutraceuticals Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Product Type (Dietary Supplements, Functional Foods, Functional Beverages), By Form (Tablets, Capsules, Powder, Liquid, Others), By Source (Animal, Plant, Microbial), By Distribution Channel (Specialty Stores, Online, Pharmacies, Hypermarkets/Supermarkets), By Region and Competition, 2019-2029F”, has evaluated the future growth potential of Global Nutraceuticals Market  and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Nutraceuticals Market .

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