NEW YORK, Dec. 3, 2024
NEW YORK, Dec. 3, 2024 /PRNewswire/ -- According to a new comprehensive report from The Insight Partners, the global Nutraceuticals Market Strategies, Top Players, Growth Opportunities, Analysis and Forecast by 2031 is observing significant growth owing to increased consumer focus on preventive health along with the rising product innovations and strategic developments by key manufacturers.
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The nutraceuticals market report comprises a detailed analysis of various types of nutraceuticals and their potential use for maintaining good health, which are expected to drive the market toward significant growth in the coming years. The report runs an in-depth analysis of market trends, key players, and future opportunities.
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The report from The Insight Partners, therefore, provides several stakeholders—including ingredient manufacturers, raw material suppliers, herbal extracts manufacturers, API manufacturers, retailers, distributors, wholesalers, traders, and others—with valuable insights into how to successfully navigate this evolving market landscape and unlock new opportunities.
The List of Companies - Nutraceuticals Market
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Overview of Report Findings
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Market Segmentation
Report Scope
Feature of the Report
Details
Market Size in 2023
US$ 500.77 billion in 2023
Projected Market Size in 2031
US$ 895.76 billion by 2031
CAGR Growth Rate
7.5 %
Base Year
2023
Forecast Period
2023-2031
Key Segment
By Type, Application, Connectivity and Region
Report Coverage
Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America
Buying Options
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Competitive Strategy and Development
Global Headlines on Nutraceuticals
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Conclusion
The global nutraceuticals market is growing with significant investments by manufacturers in research and development, partnerships, and collaborations to launch innovative products to tap into unexplored market segments. In February 2022, PepsiCo's Rockstar Energy brand launched a "hemp-infused drink" in the US. The energy drink, branded as "Rockstar Unplugged," contains hemp seed oil, vitamin B complex, spearmint, and lemon balm; moreover, the drink contains no sugar or calories. This product was made available in three flavors: blueberry, passionfruit, and raspberry-cucumber. Similarly, in March 2024, a dairy giant in Japan launched a milk beverage called "Meiji Eye and Sleep W Support," containing 7.5 mg of a functional ingredient—crocetin, which is a carotenoid derived from gardenia fruit and saffron. Owing to its small molecular weight, the drink can be easily absorbed into the body. Thus, the increasing product innovation by key market players worldwide is driving the nutraceuticals market growth.
Further, the increasing number of health-conscious consumers worldwide boosts the demand for nutraceuticals with vegan, organic, and plant-based tags. The burgeoning awareness of the more significant nutritional profiles of plant-based nutraceuticals than their traditional counterparts is expected to propel the demand for plant-based nutraceuticals over the forecast period. These products contain collagen, minerals, antioxidants, and carbohydrates in higher amounts with lower fat content, which appeals to consumers seeking healthier nutraceuticals. To keep up with the growing trend of organic and plant-based products, several companies focus on launching their plant-based nutraceuticals, along with expanding their existing product lines. Thus, plant-based and organic nutraceuticals are emerging as significant nutraceuticals market trends.
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