The Latest Nutraceutical Industry Statistics Explained
The global nutraceuticals market size was valued at USD 382.51 billion in 2019.
This statistic indicates that the total value of the global nutraceuticals market in terms of revenue was USD 382.51 billion in the year 2019. Nutraceuticals refer to products derived from food sources that provide extra health benefits beyond basic nutrition. The size of the nutraceuticals market reflects the significant demand for these products due to factors such as increasing health consciousness among consumers, aging populations, and a growing focus on preventative healthcare. This market size figure serves as a key indicator of the scale and importance of the nutraceuticals industry worldwide, showing its substantial economic impact and growth potential.
The global nutraceuticals industry is expected to reach USD 722.49 billion by 2027.
This statistic indicates that the global nutraceuticals industry, which encompasses a wide range of food and beverage products with purported health benefits, is projected to experience significant growth over the coming years, reaching a market value of USD 722.49 billion by 2027. This growth reflects increasing consumer awareness and interest in health and wellness, leading to a rise in demand for functional foods, dietary supplements, and other nutraceutical products. The expanding market opportunities, driven by factors such as aging populations, changing dietary habits, and a growing emphasis on preventive healthcare, are expected to drive the industry’s growth and investment in research and development to meet the evolving needs and preferences of consumers worldwide.
The nutraceuticals industry is projected to register a CAGR of 8.3% during the forecast period between 2020 and 2027.
The statistic indicates that the nutraceuticals industry is expected to experience a Compound Annual Growth Rate (CAGR) of 8.3% over the forecast period from 2020 to 2027. This means that the industry is anticipated to grow at an average annual rate of 8.3% during this time frame. A CAGR is a useful measure to understand the steady growth rate of an industry over a specified period, providing insights into the industry’s potential expansion and market trends. The projected CAGR of 8.3% suggests that the nutraceuticals sector is likely to see significant growth and opportunities for businesses operating within this industry during the forecast period.
The dietary supplements segment held the biggest market share in 2019, accounting for over 30% of revenue.
The statement indicates that in 2019, the dietary supplements segment dominated the market by holding the largest share of total revenue, amounting to over 30%. This suggests that consumers were significantly investing in dietary supplements compared to other segments within the market. The high market share signifies the popularity and demand for dietary supplements among consumers, possibly driven by factors such as increasing health awareness, lifestyle changes, and a growing aging population seeking to maintain or improve their health. The statistic highlights the importance of the dietary supplements industry in the market landscape and underscores its substantial contribution to overall market revenue in 2019.
During 2020, 77% of U.S. adults consumed dietary supplements and nutraceuticals.
The statistic indicates that in 2020, 77% of adults in the United States reported consuming dietary supplements and nutraceuticals. This suggests a high prevalence of the use of these products among the adult population, possibly driven by various factors such as increased health consciousness, access to information about supplements’ potential benefits, and a desire for improved overall well-being. The statistic implies that a significant majority of adults in the U.S. are actively engaging in self-care and seeking ways to support their health through the use of dietary supplements and nutraceuticals.
Functional food is the fastest-growing segment in the nutraceuticals industry with a CAGR of 8.6%.
The statistic indicates that functional food, which refers to food products with added health benefits beyond basic nutrition, is experiencing rapid growth within the nutraceuticals industry. The compound annual growth rate (CAGR) of 8.6% suggests that the demand for functional foods is increasing steadily over time. This trend is likely driven by a growing consumer interest in health and wellness, leading to a preference for food products that offer additional health benefits. As functional foods offer convenience and a way to easily incorporate health-promoting ingredients into one’s diet, they are becoming increasingly popular among consumers seeking to improve their overall well-being. The significant CAGR of 8.6% highlights the strong momentum and market potential of functional foods within the nutraceuticals industry.
Asia Pacific is the largest market for nutraceuticals, contributing over 45% to the global market revenue in 2018.
The statistic ‘Asia Pacific is the largest market for nutraceuticals, contributing over 45% to the global market revenue in 2018’ highlights the significant dominance of the Asia Pacific region in the nutraceutical industry during the specified year. This statistic indicates that nearly half of the total revenue generated by the global nutraceutical market in 2018 was attributed to countries within the Asia Pacific region, showcasing the region’s widespread consumption and demand for nutraceutical products. The strong market presence of Asia Pacific suggests a favorable environment for nutraceutical manufacturers, retailers, and consumers in the region, underscoring the importance of this market for the overall growth and expansion of the nutraceutical industry.
It is speculated that COVID-19 pandemic would increase the demand for nutraceuticals providing immunity-boosting benefits.
The statistic that suggests the COVID-19 pandemic may increase the demand for nutraceuticals with immunity-boosting benefits reflects a potential shift in consumer behavior towards prioritizing health and wellness in the face of a global health crisis. With the increased awareness of the importance of immunity in preventing and fighting illnesses, individuals may be more inclined to seek out products, such as nutraceuticals, that are believed to support immune function. This speculation highlights the dynamic relationship between public health concerns and consumer preferences, indicating a possible emerging trend in the nutraceutical industry driven by the current pandemic landscape.
Japan has the highest market share in the Asia Pacific nutraceuticals market with 31% in 2020.
The statistic indicates that Japan held the largest market share in the Asia Pacific nutraceuticals market in 2020, accounting for 31% of the total market. This suggests that Japan’s nutraceuticals industry, which includes products like dietary supplements, functional foods, and beverages with health benefits, is a significant player in the region. The high market share points to strong consumer demand, effective marketing strategies, robust distribution channels, and potentially favorable regulations or consumer preferences in Japan. This leading position could also signify the country’s advanced research and development capabilities in the field of nutraceuticals, sparking innovation and driving growth within the market.
Heart health is a leading concern for consumers of nutraceuticals, 60% of all adult supplement users do so for heart health reasons.
This statistic indicates that a majority of adult supplement users prioritize heart health when choosing nutraceuticals, which are products derived from food sources with purported health benefits. The fact that 60% of all adult supplement users focus on heart health suggests that there is a significant demand for nutraceuticals that support cardiovascular well-being. This consumer behavior aligns with the growing awareness and importance placed on heart health in society. It also reflects a trend where individuals are proactively seeking ways to maintain or improve their cardiovascular health through the use of supplements. This information could be valuable for nutraceutical companies and health professionals in understanding consumer preferences and developing targeted products or interventions to address this specific health concern.
The functional beverages segment of the nutraceutical industry is set to achieve over 8.5% CAGR up to 2024.
This statistic indicates that the functional beverages segment within the nutraceutical industry is expected to experience a Compound Annual Growth Rate (CAGR) of over 8.5% up to the year 2024. A CAGR of 8.5% suggests a steady and significant growth rate over the specified time period. This growth is likely driven by various factors such as increasing consumer awareness and interest in health and wellness, as well as the development of innovative functional beverages that offer specific health benefits. The projected growth in this segment highlights the potential business opportunities and market demand for functional beverages within the nutraceutical industry in the coming years.
The North American nutraceuticals market is expected to grow at a CAGR of 7.1% from 2018 to 2023.
The statement suggests that the North American nutraceuticals market is forecasted to experience a Compound Annual Growth Rate (CAGR) of 7.1% over the period spanning from 2018 to 2023. This growth rate indicates a consistent yearly expansion in the market size over the specified time frame. The projection implies that the nutraceuticals industry in North America is anticipated to see significant growth in terms of revenue, sales, or market share, reflecting increasing demand for products within this sector. Factors contributing to this growth could include changing consumer preferences towards health and wellness products, advancements in research and development, expanding distribution channels, and potentially rising awareness of the benefits associated with nutraceuticals.
The U.S. accounts for around 39% of the global nutraceuticals market share.
The statistic suggests that the United States holds a significant portion of the nutraceuticals market globally, accounting for approximately 39% of the market share. This indicates that the U.S. is a key player in the nutraceuticals industry, which includes products like dietary supplements, functional foods, and herbal products known for their potential health benefits. The high market share implies that there is a strong demand for nutraceuticals in the U.S., either due to consumer preferences, growing health consciousness, or robust marketing efforts. As a result, the U.S. market for nutraceuticals is likely to be a major driver of innovation, investment, and growth within the industry.
Probiotic nutraceuticals are expected to witness fast growth at a CAGR of 10% from 2020 to 2026.
This statistic projects that the market for probiotic nutraceuticals is anticipated to experience a rapid increase in revenue, with a Compound Annual Growth Rate (CAGR) of 10% expected between the years 2020 and 2026. This suggests that the demand for probiotic supplements and functional foods is steadily growing and is poised for significant expansion over this time period. Factors driving this expected growth may include increasing consumer awareness of the potential health benefits of probiotics, changing dietary preferences towards products that support gut health, and advancements in probiotic research and product development. This statistic indicates a promising market outlook for probiotic nutraceuticals, highlighting them as a sector with high growth potential in the coming years.
The functional food segment of the nutraceutical market was valued at USD 187.39 billion in 2019.
The statistic “The functional food segment of the nutraceutical market was valued at USD 187.39 billion in 2019” indicates the total monetary worth of functional food products within the nutraceutical market during the year 2019. This figure represents the revenue generated from the sales of functional food items that offer health benefits beyond basic nutrition. The significant value of USD 187.39 billion showcases the growing importance and popularity of functional foods among consumers seeking to improve their health and well-being. This statistic reflects a substantial market size and suggests a strong demand for products that provide additional health advantages beyond traditional foods.
The Omega-3 segment held the largest share in the global nutraceuticals market with 57% in 2020.
The statistic indicates that within the global nutraceuticals market in 2020, the Omega-3 segment, referring to products rich in Omega-3 fatty acids such as fish oil supplements, held the largest market share at 57%. This suggests that Omega-3 products were the most popular or widely consumed type of nutraceuticals among consumers during that year. The high market share may be driven by factors such as the well-documented health benefits of Omega-3 fatty acids, increasing consumer awareness of the importance of these nutrients, and marketing efforts by companies within the nutraceuticals industry. This information is valuable for market analysis, as it highlights the significant demand and competitive strength of the Omega-3 segment within the broader nutraceuticals market landscape.
The European nutraceutical market is projected to grow at a CAGR of approximately 7% from 2018-2023.
This statistic means that the European nutraceutical market is expected to experience a Compound Annual Growth Rate (CAGR) of around 7% over the five-year period from 2018 to 2023. This indicates a steady growth trajectory for the market, suggesting an increasing demand for nutraceutical products in Europe during this timeframe. A CAGR of 7% implies that the market size is projected to expand at a consistent annual rate of 7%, reflecting potential opportunities for businesses operating in the nutraceutical industry to capitalize on this growth trend.
The markets in China and India are expected to grow at CAGRs of 12.86% and 16.21% from 2020 to 2026, respectively, in the nutraceutical market.
The statistic indicates that the nutraceutical markets in China and India are projected to experience significant growth between 2020 and 2026, as measured by their Compound Annual Growth Rates (CAGRs). Specifically, the market in China is expected to grow at a CAGR of 12.86%, while the market in India is anticipated to grow at a higher rate of 16.21% during this period. These CAGRs suggest a steady and robust expansion in both countries’ nutraceutical markets, reflecting increasing demand for health and wellness products among their populations. The higher growth rate forecasted for India implies a potentially more favorable market environment and growth opportunities for nutraceutical products in the country compared to China over the specified time frame.
The global nutraceutical market is highly competitive, with the top five players, namely Amway, Herbalife, Sanofi S.A., Abbott, and PepsiCo, accounting for around 43% of the market share.
The statistic illustrates the intense competition within the global nutraceutical market, where a few major players dominate a significant portion of market share. Specifically, the top five companies, including Amway, Herbalife, Sanofi S.A., Abbott, and PepsiCo, collectively control approximately 43% of the market. This suggests that these key players have established strong market positions and brand recognition, giving them a competitive edge towards capturing a substantial chunk of the industry’s revenue. The concentration of market share among these top players indicates barriers to entry for new competitors and emphasizes the importance of brand equity, innovative product offerings, and effective marketing strategies in this highly competitive market landscape.
The nutraceuticals industry creates about 75,000 jobs in the United States.
The statistic that the nutraceuticals industry creates about 75,000 jobs in the United States indicates the significant economic impact of this sector on employment opportunities within the country. Nutraceuticals are products derived from food sources with extra health benefits, and the industry encompasses a wide range of products such as dietary supplements, functional foods, and beverages. The creation of 75,000 jobs highlights the industry’s contribution to job growth and the livelihoods of individuals across various roles, including research and development, production, marketing, sales, and distribution. This statistic underscores the industry’s importance in supporting the economy and providing employment opportunities for a diverse range of workers in the United States.
References
0. – https://www.www.ncsl.org
1. – https://www.www.nutraceuticalbusinessreview.com
2. – https://www.www.mordorintelligence.com
3. – https://www.www.researchandmarkets.com
4. – https://www.www.gminsights.com
5. – https://www.www.grandviewresearch.com
6. – https://www.www.crnusa.org
