Global Nutraceuticals Market Trajectory & Analytics Report 2021: U.S. Market is Estimated at $104.5 Billion in 2021, While China is Forecast to…

DUBLIN--(BUSINESS WIRE)--The "Nutraceuticals - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.

Global Nutraceuticals Market to Reach $441.7 Billion by 2026

Amid the COVID-19 crisis, the global market for Nutraceuticals estimated at US$278.8 Billion in the year 2020, is projected to reach a revised size of US$441.7 Billion by 2026, growing at a CAGR of 7.8% over the analysis period.

Functional Foods, one of the segments analyzed in the report, is projected to grow at a 7.8% CAGR to reach US$217.2 Billion by the end of the analysis period.

After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Functional Beverages segment is readjusted to a revised 8.6% CAGR for the next 7-year period. This segment currently accounts for a 35.2% share of the global Nutraceuticals market.

The U.S. Market is Estimated at $104.5 Billion in 2021, While China is Forecast to Reach $52.5 Billion by 2026

The Nutraceuticals market in the U.S. is estimated at US$104.5 Billion in the year 2021. The country currently accounts for a 34.57% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$52.5 Billion in the year 2026 trailing a CAGR of 9.6% through the analysis period.

Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 6.3% and 6.7% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 7.1% CAGR while Rest of European market (as defined in the study) will reach US$56.6 Billion by the close of the analysis period.

Nutraceuticals are garnering immense attention in recent years due to various trends including changing lifestyles, burgeoning middle-class segment across emerging economies, transforming dietary habits, aging population, and increased life expectancy.

In addition, the focus of R&D based pharmaceutical sector on expensive specialty drugs is increasing the burden on the healthcare system as well as resulting in higher out-of-pocket costs for drugs driving the focus on prevention than intervention. The self-care trend across the world is driving strong demand for nutraceuticals including superfoods, food and dietary supplements, sports nutrition, and functional foods & beverages.

Given the hectic lifestyles and the lack of time for consumption of the required nutrients through regular diet, the need for replenishing such essential nutrients is increasing. In this context, nutraceuticals are emerging to be the solution for meeting this requirement. Nutraceuticals are considered to be the vital link between health and food.

The market is also experiencing strong demand for personalized approaches to wellness that is driving product innovation in the areas of weight management, sports nutrition, and healthy snacking.

Other noteworthy trends benefiting market prospects in the near term include emergence of clean labeling as a new norm owing to increasing focus of consumers on ingredient list on the product; innovative delivery technologies such as microencapsulation, which protects the product from adverse conditions such as light and air; steady proliferation of advanced dietary supplement technologies in their nanoparticle and nanodispersion versions; and the rising role of pharmaceutical players, with leading companies maintaining stake in functional food & beverage and dietary supplement brands aligning with their healthcare-consumer interests.

MARKET TRENDS & DRIVERS

FOCUS ON SELECT PLAYERS (Total 283 Featured)

For more information about this report visit https://www.researchandmarkets.com/r/po1rmf

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Global Nutraceuticals Market Trajectory & Analytics Report 2021: U.S. Market is Estimated at $104.5 Billion in 2021, While China is Forecast to...