Saturday, November 26, 2022

Email id: support@kenresearch.com, Contact Us : +91-9015378249

Home Health Care 3 Key Insights on the US$ 500 Bn Opportunity in Global Nutraceuticals...

3 Key Insights on the US$ 500 Bn Opportunity in Global Nutraceuticals Market

Driven by the Increasing Old Age Population and Rising Demand for Fortified Food Products, the Global Nutraceuticals Market is forecasted to Cross US$ 500 Bn by 2028 says Ken Research Study.

Nutraceutical is a broad term used to describe products derived from food sources that provide additional health benefits in addition to the basic nutritional value found in food. These products can be classified based on the natural source, the pharmacological condition, and the chemical composition of the product. Nutraceuticals are most commonly classified into four categories, including dietary supplements, functional foods, medicinal foods, and pharmaceuticals. Nutraceuticals have potential nutritional, safety, and therapeutic benefits. These products are considered a healthy source for preventing life-threatening ailments such as diabetes, kidney, and gastrointestinal ailments, and various other infections.

 “Ken Research shares 3 key insights on this high-opportunity market from its latest research study”

1. Increasing Geriatric Population and Rising Incidence of Chronic Diseases Provide an Opportunity for the Market Growth  

According to Ken Research Analysis, the Global Nutraceuticals Market was valued at ~US$ 250 billion in 2017. It is estimated to be ~US$ 350 billion in 2022 and is forecasted to reach a market size of ~US$ 500 billion by 2028, growing at a CAGR of ~7% during 2022 to 2028.

Aging is a complex and inevitable biological process associated with many chronically debilitating health effects. Nutraceuticals are entering the healthcare market as a simple and attractive means of disease prevention. The products are of interest to an increasingly health-conscious society and may be of particular relevance in preventing or delaying various age-related diseases.

The percentage of people over 65 who use nutraceuticals is higher than any other age group and has doubled in recent years. Aging is associated with weakened immunity, increased morbidity and mortality from infectious agents, and poor nutritional status. Nutraceutical products can improve micronutrient status, and the regular use of nutraceuticals by the elderly population may provide an opportunity to enhance immunity and metabolic disorders.

Global Nutraceuticals Market 1

2. Rising Awareness Regarding Health & Wellness and Increasing Demand for Fortified Food Products is Fuelling the Market Worldwide 

Nutraceuticals encompass a wide variety of food-derived product categories due to increasing consumer awareness of potential health benefits and the need for improved health conditions. The nutraceutical industry is largely consumer-driven and will continue to grow as it fits the current lifestyles of both developing and developed countries.

Support from government agencies is also boosting the market growth. Food fortification is recognized by the Food and Agriculture Organization (FAO) and the World Health Organization (WHO) as one of the most important ways to eradicate prevalent malnutrition, especially in developing countries.

Global Nutraceuticals Market 2

Request For Sample Report @

https://www.kenresearch.com/sample-report.php?Frmdetails=NTk2MDk4

Rising cases of nutritional deficiencies, especially in developing countries have pushed governments across the world to introduce food fortification programs to combat these issues. Less developed nations from the regions of East Africa, India, Bangladesh, and Pakistan have adopted national policies for nutrition to reduce their mortality rates.

The graph below represents the share of population preferring fortified food and beverages in different regions worldwide in 2022:

3. High Cost of Nutraceuticals and the Consumer Skepticism Associated with Products are the Major Challenges Faced by The Nutraceuticals Market

Nutraceutical ingredients are commonly used in a variety of applications including functional foods, beverages, pharmaceuticals and personal care products. However, the inclusion of these ingredients increases the price of the final product. The high cost of dietary supplements leads to lower acceptance of these products, thereby hampering market growth.

For instance, the cost of traditional bottles water products is much lower as compared to the cost of probiotic-infused bottled water products.

Nutraceuticals Market research report

Along with the growing consumer awareness regarding dietary choices, there are some consumer skepticism associated with the adoption of nutraceutical products. The two major reasons hindering the growth are synthetic sourcing and unsubstantiated health claims related to the products. Most consumers do not prefer products that have been genetically modified to impart beneficial characteristics.

The graph below represents the cost of 1 kg regular food and its fortified form.

For more information on the research report, refer to below link:

Top Nutraceuticals Manufacturing Companies

Read Also –

Key Insights on Competitive Landscape in Global Nutraceuticals Market

Follow Us –

LinkedIn | Instagram | Facebook | Twitter | YouTube

Contact Us: –

Ken Research

Ankur Gupta, Head Marketing & Communications

support@kenresearch.com

+91-9015378249

RELATED ARTICLES

An increasing ageing population, changing lifestyles, and increased private and public health care expenditure are driving growth of India Dental Services Market: Ken Research

Buy Now “The Dental Services Market in India saw a dip in the growth rate in FY’2021 due to the Covid-19 pandemic and dental clinics...

3 Key Insights on Competitive Landscape in the Global Mental Wellness Market: Ken Research

Buy Now Country-Niche Players Dominate the Market Comprising ~55% of Industry Despite the Presence of about ~ 500 Competitors Comprising a Significant Number of Regional...

Key Insights on Competitive Landscape in Global 3D Bioprinting Market: Ken Research

Buy Now Few Global Players Dominate the Market despite the Presence of about ~100 Competitors Comprising a Large Number of Regional Players and Some Specialist...

Most Popular

3 Key Insights on US$ 20 Bn Opportunity in the Global Nanomaterials Market – Ken Research

Buy Now Driven by the increasing demand for nanomaterials in the healthcare and electronics sectors among other end industries, growing investments in research & development...

An increasing ageing population, changing lifestyles, and increased private and public health care expenditure are driving growth of India Dental Services Market: Ken Research

Buy Now “The Dental Services Market in India saw a dip in the growth rate in FY’2021 due to the Covid-19 pandemic and dental clinics...

Qatar Auto Finance Market is expected to reach QR 18.9 Bn in 2026F

Buy Now Qatar will host the FIFA World Cup 2022 which is expected to increase the tourist flow (more than 1 mn tourists are...

Technology advancement, Cross Border E-commerce, and Increased local penetration by E-Commerce Platforms are some of the key growth drivers of the Singapore e-commerce industry:...

Buy Now Driven by the Entry of Home-Grown Players and Developing Logistics Infrastructure, the logistics market in Singapore has ample growth potential in the coming...