Global Nutraceuticals Market to Reach $1 Trillion by 2030, Driven by Increasing Demand and Health Awareness

1. Global Nutraceuticals Market to Reach $1 Trillion by 2030, Driven by Increasing Demand and Health Awareness The global nutraceuticals market is poised to surpass the $1 trillion mark by 2030, exhibiting a robust compound annual growth rate (CAGR) of 9.5% during the forecast period, according to a new report by [Research Firm]. The market has experienced sustained growth, further accelerated by the COVID-19 pandemic, as consumers increasingly recognize the health benefits of nutraceuticals in maintaining overall well-being and boosting immune systems. The report highlights the growing focus on personalized nutrition as a major driver of demand in the nutraceuticals market. Informed consumers are gaining more knowledge about the convenience, flexibility, and multiple health advantages of specific dietary supplements, leading to increased adoption. Additionally, the pandemic has underscored the significance of a strong immune system, leading to a surge in demand for nutraceuticals. One of the key factors contributing to market growth is the rising prevalence of lifestyle diseases and the booming sales of dietary supplements. Metabolic disorders and the recommendation of dietary supplements to the elderly and adolescent populations have fueled awareness about the potential health benefits of consuming nutraceuticals. Fortification of food and beverage products and the increasing application profiling have also played a significant role in driving market growth. Functional foods and beverages are gaining popularity as more consumers prioritize natural, reliable, cost-effective, and readily available options for promoting good health and preventing illness. The report emphasizes that functional foods and nutraceuticals will continue to thrive in the coming years, driven by health-conscious individuals seeking nutritional advantages and functional food options. Despite the positive growth trajectory, the nutraceuticals market faces challenges such as lack of clarity among consumers regarding daily recommended intake and the perception of dietary supplements as prescription medications. Counterfeit supplements also pose a significant threat to the market. Manufacturers are addressing these challenges by developing innovative supplement formulations, such as gummies and soft chews, to cater to consumer preferences. The report segments the nutraceuticals market based on product type, distribution channel, and diet. Dietary supplements currently dominate the market, accounting for over 38% of total sales. Functional foods and beverages have also witnessed consistent growth, especially among health-conscious individuals, athletes, and sports enthusiasts. Conventional stores are the primary distribution channel, but specialty stores are gaining traction. Geographically, North America leads the global nutraceuticals market and is expected to maintain its dominance throughout the forecast period, followed by Europe and Asia Pacific. The market in Asia Pacific is projected to experience the highest growth rate, driven by changing lifestyles, rising preference for healthier food products, and increased health concerns among consumers.

2. The global nutraceuticals market is highly competitive and diverse, with both local and international manufacturers vying for market share. Key players shaping the competitive landscape include BASF Corporation, Cargill Inc, DSM, Lonza, Corbion, Ingredion Incorporated, Archer-Daniels-Midland Company, Friesland Campina, Kerry PLC, and Olam International Ltd. The full report provides an in-depth analysis of the nutraceuticals market, including market trends, growth opportunities, and regional insights for North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. For More Information of Nutraceuticals Market: https://www.fairfieldmarketresearch.com/report/nutraceuticals-market About Us Fairfield Market Research is a UK-based market research provider. Fairfield offers a wide spectrum of services, ranging from customized reports to consulting solutions. With a strong European footprint, Fairfield operates globally and helps businesses navigate through business cycles, with quick responses and multi-pronged approaches. The company values an eye for insightful take on global matters, ably backed by a team of exceptionally experienced researchers. With a strong repository of syndicated market research reports that are continuously published & updated to ensure the ever-changing needs of customers are met with absolute promptness. Contact Fairfield Market Research London, UK UK +44 (0)20 30025888 USA (Toll-free) +1 (844) 3829746 Web: https://www.fairfieldmarketresearch.com/ Email: sales@fairfieldmarketresearch.com Follow Us: LinkedIn