Nutraceuticals sector to amass large revenues in the forecast period

Pune, India, February 13, 2018 /MRFR Press Release/- Market research future published a Half cooked research report on Global Nutraceuticals Market.

Market – Overview:

Increase stress on healthy eating and foods & supplements which enhance body function have widened the market for nutraceuticals. Market Research Future, which concentrates on market reports related to Food, Beverages & Nutrition sector among others, have lately issued a report on this market. The nutraceutical market is estimated to be worth USD 319.6 billion in revenues while expanding at a CAGR of 6.70% by 2023.

Nutraceuticals have many types such as dietary supplements, functional foods and beverages. The market for each of these types has significantly developed in the recent years, in turn developing the market for nutraceuticals as well to a great extent. The changing trends in terms of health and wellness have been vital for the growth the sector has been witnessing in recent years. Rising rate of lifestyle diseases have further pushed the market growth of the nutraceutical sector.

Industry Segments

The market for nutraceuticals globally has been segregated into Ingredients, types and distribution channel. The category of ingredients includes probiotics, vitamins and minerals, omega-3, protein and peptides and others. Omega-3 will probably observe the maximum growth rate trailed by probiotics in the coming years. The types of nutraceuticals are functional foods, functional beverages, and dietary supplements. Centered on type, dietary supplements are projected to observe the utmost growth rate of 6.88% on an international level. The distribution channel category includes store based and non-store based. In the distribution channel category, store based distribution channel are controlling the industry with a top share of 74.49% in 2017.

Detailed

Regional Analysis

The international industry for nutraceuticals has been observing unceasing growth during the forecast period due to its high levels of nutritional and medicinal points culminating in growing uses of nutraceuticals in numerous industries. In terms of volume and value, The North American market is expected to control the nutraceuticals market capturing the chief sector share of 36.69%. Similarly, the Asia Pacific region is estimated to grow at a rate of 7.82 per cent in the forecast period.

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Global Competitive Analysis

Corporations are trying to gain access to a considerable portion of the market share as early as possible with operative business plans that can fill this gap and control of the dynamics of the rivalry in the market. The entrance of advanced companies, is creating a swiftly -developing a trend which is volume intensive. This has allowed the growth of varied assortments of produce kinds. Effective business policies targeted to fill this gap and gain control of the dynamics of the competition existing in the market. The main strategies for long-term growth can be attained by making sure continuous process enhancements and financial fluidity to spend in the major strategies as they arise.

The important players in the nutraceuticals market global are GlaxoSmithKline Plc , Archer-Daniels-Midland Company , E. I. du Pont de Nemours and Company , BASF SE to name a few of the competitors in the segment.

Latest Industry News:

Jan 2018 A division of Murugappa Group, Parry Nutraceuticals, has entered into a JV with Synthite Industries Ltd to expand the business as an algae company which is value-added. The 50-50 joint venture will built on Parry Nutra's Spirulina cultivation forte and Synthite's extraction competences, thereby making this association a great tactical fit for both the partners. The joint venture will construct a manufacturing facility in India with an investment of approximately Rs 40 crore for the manufacturing of Phycocyanin, a blue pigment which is naturally taken from Spirulina. Phycocyanin which is extracted from Spirulina, which has a distinguishing deep blue colour. It offers outstanding stability and tractability for use in a range of food and beverages.