Global Nutraceutical Supplements Market Growth Projection
The new report on the global Nutraceutical Supplements market is an extensive study on the overall prospects of the Nutraceutical Supplements market over the assessment period. Further, the report provides a thorough understanding of the key dynamics of the Nutraceutical Supplements market including the current trends, opportunities, drivers, and restraints. The report introspects the micro and macro-economic factors that are expected to nurture the growth of the Nutraceutical Supplements market in the upcoming years.
The report suggests that the global Nutraceutical Supplements market is projected to reach a value of ~US$XX by the end of 2029 and grow at a CAGR of ~XX% through the forecast period (2019-2029). The key indicators such as the year-on-year (Y-o-Y) growth and CAGR growth of the Nutraceutical Supplements market are discussed in detail in the presented report. This data is likely to provide readers an understanding of qualitative and quantitative growth prospects of the Nutraceutical Supplements market over the considered assessment period.
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The report clarifies the following doubts related to the Nutraceutical Supplements market:
- How has the growth of end-use industry 1 impacted the growth of the Nutraceutical Supplements market?
- Why are market players eyeing opportunities in region 1 and region 2?
- How are companies in the Nutraceutical Supplements market reducing their environmental footprint?
- Why are consumers highly in favor of purchasing product 1?
- What is the scope for innovation in the current Nutraceutical Supplements market landscape?
Segmentation of the Nutraceutical Supplements Market
Competitive Landscape – Key Highlights
- Abbott Laboratories completed the acquisition of Alere Inc. in 2017. As per the terms of the deal, Alere becomes a subsidiary of Abbott. This acquisition was in line with the Abbott’s strategy of garnering leadership across key business segments and geographies.
- Glanbia Plc. signed an agreement with Slimfast, a leading health & wellness and weight management brand, in the year 2018. This acquisition complements the existing portfolio of the company and is likely to play a key role in expansion of its nutrition portfolio.
- Amway acquired XS Energy, a California-based energy drink and snacks brand, in the year 2015. This acquisition was viewed as a strategic move by Amway to leverage the approach of XS apropos of connection with young entrepreneurs.
- On 31 March 2015, Koninklijke DSM N.V. (DSM) entered into the space of B2C personalized nutrition market with an investment in Mixfit Inc., a privately-held personalized nutrition solution start-up based in Boston, MA.
The forenamed companies have been profiled in the nutraceutical supplements market report, wherein crucial aspects related to them such as revenue growth, key developments, and regional presence have been elaborated in detail.
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Tier 1 Players Hold 40-45% Revenue Share; Market Heading Towards Consolidation
Market leaders or tier 1 players of the nutraceutical supplements market account for around 40-45% of revenue share, with primary focus on expansion of manufacturing facilities and strategic alliances with key distributors. While the mid-level or tier 2 players emphasize on intensifying their regional presence, the emerging or tier 3 players remain highly oriented toward specific product segments and volume sales enhancement.
The nutraceutical supplements market is heading toward a phase of consolidation, with tier 1 players extensively emphasizing on product innovations and developments. Moreover, the tier 1 players’ constant pursuit for growth makes them to consistently focus on expansion of regional presence and solidification of product portfolios.
Note: For an extensive coverage of key strategies by market participants in the nutraceutical supplements market space, get in touch with our experts.
Consumer Demand for Specialty Ingredients to Grow
With the evolving definition of health and wellness, an increasing preference of specialty ingredients is gaining center stage in the nutraceutical ingredients market space. The customer inclination toward specialty ingredients tends to get strong eventually, owing to multiple benefits such as upgraded health, improved taste and texture, and enhanced shelf life.
Moreover, the practice of “adding value” to products has become one of the highly pervasive manufacturing trends. Consumers are no longer content with simple nutrition or hydration, rather they wish to experience a lot more in terms of health and wellness, taste, and quality. In line with this demand for improved varieties, manufacturers of nutraceutical supplements are focusing on inclusion of specialty ingredients in their products.
Focus on Packaging Techniques to Tackle Counterfeiting – A Key Trend
As per a revelation by the Association for Packaging and Processing Technologies, the practice of counterfeiting has been increasing at an alarming rate. When it comes to products like nutraceutical supplements, which are consumed by a large demographic, integrity of the product becomes exceedingly vital and uncompromisable.
The practice of counterfeiting can dent consumer confidence with respect to a product, posing major challenges for the manufacturing companies. Hence, the manufacturers are resorting to advanced packaging techniques including anti-diversion codes, hologram-enabled authentication, and invisible inks to help the customers identify the authentic products. Persistent focus on advanced packaging formats and techniques is also poised to aid manufacturing companies in terms of healthy market sustenance amidst cut-throat competition.
‘Personalized Nutrition’ – An Emerging Opportunity
The trend of personalized nutrition signifies an unprecedented rise in propensity for health and wellness attributes. Consumers are increasingly oriented toward tracking crucial aspects of their personal well-being by closely evaluating their dietary patterns.
As consumers across the globe are highly invested in achieving their nutrition goals, a personalized approach to nutrition is gaining immense traction. This trend, in turn, is foreseen to invigorate the demand for new nutraceutical supplements aimed at promoting wellness. Manufacturers of nutraceutical supplements are proactively investing in research and development activities, and stakeholder relationships, which will enable them to facilitate business expansion with product diversification and strengthen ties with scientific communities.
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Nutraceutical Supplements– Definition
Nutraceutical supplements refer to substances or products aimed at supplementing the diet of consumers in terms of adding nutritional values. The rise in the demand for nutraceutical supplements can be attributed to rising proclivity toward cognitive well-being and functional dietary preferences.
Nutraceutical Supplements Market- About the Report
The Fact.MR report on nutraceutical supplements market is a comprehensive and detailed forecast on the nutraceutical supplements market for the forecast period of 2018 to 2027. The report on nutraceutical supplements market offers in-depth insights apropos of nutraceutical supplements market over the forecast timespan, which aids new entrants in the nutraceutical supplements with understanding the crucial growth parameters of nutraceutical supplements market.
Nutraceutical Supplements Market Structure
The nutraceutical supplements market has been segmented on the basis of product type, consumer orientation, form, sales channel, and region. By product type, the nutraceutical supplements market has been segmented into vitamins & minerals supplements, herbal supplements, protein and amino acid supplements, and prebiotics & probiotics dietary supplements.
By consumer orientation, the nutraceutical supplements market has been segmented into men, kids, and women. By form, the nutraceutical supplements market has been segmented into softgels, capsules, liquids, tablets, and powders and granules. The nutraceutical supplements market has been assessed across key regions of North America, Latin America, Europe, Japan, APEJ, and MEA.
Nutraceutical Supplements Market- Additional Questions Answered
Apart from the aforementioned intelligence on nutraceutical supplements market, the research study on nutraceutical supplements market also addresses some of the crucial questions on nutraceutical supplements market. Some of the additional questions on nutraceutical supplements are-
- What differential strategies are being adopted by the manufacturing companies of nutraceutical supplements?
- What are the humongous challenges encountered by manufacturers in the nutraceutical supplements market space?
- Which is the highly preferred type in terms of consumption amid the consumers of nutraceutical supplements?
- How do the key players balance the demand-supply equation along with the influencing trends emerging in nutraceutical supplements market space?
- What are the highly prevalent trends and opportunities in the nutraceutical supplements market landscape?
Nutraceutical Supplements Market-Research Methodology
A constructive research methodology has been adopted to garner unique insights and intelligence on nutraceutical supplements market and growth of nutraceutical supplements market for the forecast period of 2018-2027. The growth prospects and dynamics of nutraceutical supplements featured in the nutraceutical supplements market report have been procured from primary and secondary research methods conducted with utmost diligence for nutraceutical supplements market.
The compelling and actionable insights on the nutraceutical supplements market included in the nutraceutical supplements report have been obtained by conducting interactive sessions with a panel of industry leaders, investors, and researchers. The information in the nutraceutical supplements market report has been obtained via a meticulous research methodology process, wherein intelligence included in line with the current situation and futuristic course of nutraceutical supplements market growth.
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Vital Information Enclosed in the Report
- Market structure in various regions
- Impact of the evolving environmental and regulatory norms on the Nutraceutical Supplements market
- Recent mergers, collaborations, acquisitions, and strategic alliances
- Business prospects of leading players in the Nutraceutical Supplements market
- The projected growth of each market segment and sub-segment
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