The market size of the global nutraceutical products was worth USD 453.80 billion in the year 2021. It is expected to reach USD 987.23 billion by the year 2030. This means that the CAGR is growing at 9.2% over this period. Nutraceuticals are functional foods. These offer physiological benefits and prevent the occurrences of chronic diseases. These foods are able to meet the complete dietary and supplemental needs. This is what makes them popular as compared to most health care and medicinal products. Moreover, the modern day consumers are more health conscious. Therefore, with the rising prevalence of sedentary lifestyle and chronic diseases, the popularity of the nutraceutical products have grown to a great extent. We live in an era of quick fixes and there is also a constant time crunch. The nutraceutical product market is sure to grow. Make sure that you buy the products from the best Nutraceutical Manufacturers.
Growing popularity of the Nutraceutical products
These nutraceutical products not only fulfil your dietary needs but also cure allergies, diabetes, cancer, Alzheimer’s, eye and cardiovascular diseases. These are also considered to be the organic alternative of various pharmaceutical products. These products have several benefits and diverse applications. This drives the growth of the nutraceuticals product market.
In the developed economies, chronic diseases are on the rise. It is for this reason that the manufacturers are motivated to manufacture nutrient rich products. This is aiding the growth of the nutraceutical product market. The product life cycle of the nutraceutical products have been broken to the product life cycle of various forms of products available in the market as the performance is significantly varying.
Products that a nutraceutical third party manufacturer produce
The Nutraceutical Manufacturers in India, manufacture the following products:
Gummies, bars and munchies
These companies have started manufacturing bars, gummies and munchies. As of now they are in the nascent stage, however, it is expected that these would record the highest CAGR due to their high acceptability in the market. The packaging is extremely catchy and these are also available in a variety of flavours. Their prices are also competitive and the labelling is very attractive. These are some of the reasons for the growing popularity of this segment.
Powder Nutraceutical products
This is mostly used by professional athletes. This product helps in gaining muscles and also supports dietary needs. There are gyms across the world who offer attractive schemes on these products to attract the customers. As the popularity of gyms grow, the popularity of the powder nutraceutical products will also continue to grow.
Multivitamins, drinks and syrups
These are as of now in the stage of growth. There are several companies that are significantly investing to expand their product and capture this segment of the market.
Classification of the nutraceutical products
Mostly these nutraceutical products are grouped in 4 categories. These include:
- Dietary supplements
- Functional Food
- Medicinal food
- Pharmaceuticals
Dietary supplements are those that contain nutrients in them. These are derived from food products. These are mostly concentrated in liquids, powder, capsules or in the form of pills.
Functional foods include whole foods and fortified food. This contains enriched or enhanced dietary components that reduces the risk of chronic diseases and provides health benefits that are beyond the traditional nutrient content.
The medical foods are meant to be consumed internally and it is important that they are done under the doctor’s supervision. This is used only in specific dietary management of a particular health condition.
The pharmaceutical products are produced from modified agricultural crops and are medically valuable components.
If you are interested, you can get these products from the Nutraceuticals Third Party Manufacturers in India and start your business.
Health benefits of the nutraceutical products
Over the last few years the nutraceutical products have attracted a lot of interest due to its therapeutic and nutritional effects. These products have an important role to play in the Biological processes as well. This includes antioxidant defences, gene expression, cell proliferation and also safeguards mitochondrial integrity.
The nutraceutical products help in improving health and also prevents all kinds of chronic diseases. This also postpones the process of ageing and increases your life expectancy. It supports the overall functioning and the integrity of the body. These products are healthy sources that help in the prevention of life threatening diseases like diabetes and renal and gastrointestinal disorders and other infections.
There is a wide range of nutraceuticals that perform crucial roles for the immune system and prevent the occurrence of certain diseases. These also exhibit some disease modifying indications that are related to oxidative stress that include allergies, cardiovascular diseases, cancer etc.
Conclusion
The nutraceutical products are often consumed as alternatives to traditional medicines. The rapidly growing segment of the nutraceutical products include cereals, dairy products, snack bars and baby foods. According to the reports, 53% of the US army consumes one dietary supplement. As much as 64$ of the students who participate in athletics consume these dietary supplements as these help in improving their performance.
The functional beverages are an emerging market segment. These include functional juices, coffee beans, energy beverages, ready to drink juices and functional dairy beverages. These days, the manufacturers are focusing on manufacturing organic nutraceuticals due to the rising demand of the organic products.
The dietary supplements are available in different variations that include minerals, herbal supplements, vitamins and protein supplements. The retail sales of the herbal supplements in the United States have hit a record growth. This is especially true for the Ayurveda herbs and the herbal dietary supplement segments. Since the popularity of herbal supplements have increased a lot in the past few years, they are used as ingredients in popular foods. For example Starbucks have introduced Golden Turmeric latte. This trend indicates a positive growth of the nutraceutical markets and it would be best for you to get the products from the best Nutraceutical Manufacturers.
