07.06.12
The global market for Nutraceuticals is projected to reach US$250 billion by 2018, driven primarily by the growing affinity among the general populace towards adopting a healthy lifestyle. Other factors fueling demand for Nutraceuticals include higher disposable income in developing regions; evolution of innovative products, particularly for the beauty care segment; and emerging opportunities in other newer areas.
The global nutraceuticals market continues to be driven by growing consumers' desire to lead a healthy life and avoid dependence on synthetic drugs. Major trends influencing the market include growing competition leading to industry consolidation, maturing markets in the developed regions, higher disposable incomes leading to greater personal care in the developing markets, growing fixation with beauty, and the launch of supplements enhancing beauty. Also, nutraceuticals are delving into new areas with products, such as conjugated linoleic acid (CLA) soy, whey, and dietary fibers claiming to facilitate in weight management. Growth also emanates from specific products developed for gender groups, kid groups, and age related treatment.
Performance-wise, Nutraceuticals registered a steady growth pattern in the post-recession years. An aging population has been a major factor contributing to this growth of the nutraceuticals market. By the year 2020, the number of individuals who are aged 60 years and above is expected to surpass 1.0 billion, with 70% of this populace dwelling in the developing nations. The nutraceuticals industry is geared to meet the rising demand for health foods and products as companies with sufficient capital for scientific research enter the nutraceuticals space. The trend towards personalized health nutrition is expected to provide solutions to successfully prevent, manage, and treat chronic medical illnesses. Also, the availability and accessibility of healthy foods in the developing nations, evolving understanding of the concepts that promote healthy living, and the launch of targeted foods and products scientifically formulated to address disease conditions are expected to support the growth of the nutraceuticals market in the near future.
The beauty industry is emerging as one of the major growth drivers for the Nutraceuticals market. Skin care in general, and anti-aging products in particular, are driving growth in the beauty segment. Moreover, with the growing maturity of the skin care market, producers are developing specialized products addressed to different parts of body as well as the problems they treat. Most of the new introductions in the market are not just focused on enhancing beauty but include functional offerings such as sun protection, hair recovery, acne treatment, skin radiance and whitening, and anti-cellulite treatments.
As stated by the new market research report on Nutraceuticals, the largest regional markets for nutraceuticals include the US, followed by Europe and Japan. Aging population, growing health care spending, and rising interest towards self-medication and preventive healthcare have been the key market drivers in above markets. Developing markets are expected to pitch in to drive future growth in both production and consumption of nutraceuticals, given the rapid pace of development of food and beverage, pharmaceutical, and nutritional industries in BRIC nations (Brazil, Russia, India, and China), Mexico, Poland, and South Korea. Also, the perceived status of nutraceuticals is changing among consumers due to its proven healthcare benefits. Other factors driving demand in these regions include economic prosperity, consumer disposable income, and rising production activities.
market enjoyed double-digit growth rates throughout the 1990s in buoyant market conditions led by herbal supplement products. However, growth in the market slowed down, owing to diverse factors, including altering consumer demands and economic pressures as well as tightening regulatory requirements and competitive market conditions. Market growth slowed down for herbal supplements, but other dietary supplements, including non-herbals, and sports nutrition and meal supplements are experiencing relatively stronger growth rates. Vitamin and mineral supplements are projected to generate relatively moderate growth in nutraceutical applications, resulting from intense pricing competition, overall lack of proprietary compounds, and mature product applications. Vitamins A and E are expected to perform the best among bulk vitamins due to increasing evidence of health advantages and expanding end-user preferences for value-added natural formulations. Among minerals, calcium and potassium are expected to record fastest sales gains based on demonstrated preventive benefits in geriatric and women's health care.
The global nutraceuticals market continues to be driven by growing consumers' desire to lead a healthy life and avoid dependence on synthetic drugs. Major trends influencing the market include growing competition leading to industry consolidation, maturing markets in the developed regions, higher disposable incomes leading to greater personal care in the developing markets, growing fixation with beauty, and the launch of supplements enhancing beauty. Also, nutraceuticals are delving into new areas with products, such as conjugated linoleic acid (CLA) soy, whey, and dietary fibers claiming to facilitate in weight management. Growth also emanates from specific products developed for gender groups, kid groups, and age related treatment.
Performance-wise, Nutraceuticals registered a steady growth pattern in the post-recession years. An aging population has been a major factor contributing to this growth of the nutraceuticals market. By the year 2020, the number of individuals who are aged 60 years and above is expected to surpass 1.0 billion, with 70% of this populace dwelling in the developing nations. The nutraceuticals industry is geared to meet the rising demand for health foods and products as companies with sufficient capital for scientific research enter the nutraceuticals space. The trend towards personalized health nutrition is expected to provide solutions to successfully prevent, manage, and treat chronic medical illnesses. Also, the availability and accessibility of healthy foods in the developing nations, evolving understanding of the concepts that promote healthy living, and the launch of targeted foods and products scientifically formulated to address disease conditions are expected to support the growth of the nutraceuticals market in the near future.
The beauty industry is emerging as one of the major growth drivers for the Nutraceuticals market. Skin care in general, and anti-aging products in particular, are driving growth in the beauty segment. Moreover, with the growing maturity of the skin care market, producers are developing specialized products addressed to different parts of body as well as the problems they treat. Most of the new introductions in the market are not just focused on enhancing beauty but include functional offerings such as sun protection, hair recovery, acne treatment, skin radiance and whitening, and anti-cellulite treatments.
As stated by the new market research report on Nutraceuticals, the largest regional markets for nutraceuticals include the US, followed by Europe and Japan. Aging population, growing health care spending, and rising interest towards self-medication and preventive healthcare have been the key market drivers in above markets. Developing markets are expected to pitch in to drive future growth in both production and consumption of nutraceuticals, given the rapid pace of development of food and beverage, pharmaceutical, and nutritional industries in BRIC nations (Brazil, Russia, India, and China), Mexico, Poland, and South Korea. Also, the perceived status of nutraceuticals is changing among consumers due to its proven healthcare benefits. Other factors driving demand in these regions include economic prosperity, consumer disposable income, and rising production activities.
market enjoyed double-digit growth rates throughout the 1990s in buoyant market conditions led by herbal supplement products. However, growth in the market slowed down, owing to diverse factors, including altering consumer demands and economic pressures as well as tightening regulatory requirements and competitive market conditions. Market growth slowed down for herbal supplements, but other dietary supplements, including non-herbals, and sports nutrition and meal supplements are experiencing relatively stronger growth rates. Vitamin and mineral supplements are projected to generate relatively moderate growth in nutraceutical applications, resulting from intense pricing competition, overall lack of proprietary compounds, and mature product applications. Vitamins A and E are expected to perform the best among bulk vitamins due to increasing evidence of health advantages and expanding end-user preferences for value-added natural formulations. Among minerals, calcium and potassium are expected to record fastest sales gains based on demonstrated preventive benefits in geriatric and women's health care.
