Nutraceuticals Market Size, Share, Growth, Forecast 2024 To 2033

Nutraceuticals Market Size and Growth 2024 to 2033

The global nutraceuticals market size was accounted at USD 612.83 billion in 2023 and is estimated to reach around USD 1,254.19 billion by 2033, growing at a compound annual growth rate (CAGR) of 7.42% from 2024 to 2033.

The nutraceuticals market consists of food products that provide medical or health benefits, including the prevention and treatment of diseases. This category includes functional foods, dietary supplements, and medicinal foods enriched with nutrients, vitamins, minerals, herbs, or other botanicals. Key trends driving the market include the increasing consumer focus on health and wellness, the rising prevalence of chronic diseases, and growing awareness of preventive healthcare. Innovations in product formulations and the integration of nutraceuticals with advanced biotechnology are also propelling market growth, alongside a surge in demand for natural and organic products.

• In January 2022, OHMG, the owner of the UK functional drinks brand, introduced a new water product featuring three distinct forms of magnesium: magnesium citrate, magnesium threonate, and magnesium glycinate. These ingredients offer various functional benefits. The product is available in five flavors: Still, Sparkling, Sparkling Peach & Rosemary + Ashwagandha, Sparkling Raspberry & Lemon Balm + L-Theanine, and Sparkling Blackcurrant & Echinacea + Vitamin C. Strong marketing efforts for Coca-Cola's Glacéau VitaminWater brand, combined with increased consumption during sports and exercise, have significantly boosted sales.
• in 2021, According to the Trust for America's Health’s (TFAH) 19th annual report, 19 states in the U.S. reported obesity rates exceeding 35% in 2022, an increase from 16 states.
• In September 2020, the Indian government launched eight nutraceutical products under the Pradhan Mantri Bhartiya Janaushadhi Pariyojana scheme. These new products are designed to enhance users' immune systems, contributing to improved public health.

Report Highlights

• By region, North America region has reported highest revenue share of 32.82% in 2023
• By region, Asia Pacific experiencing significant growth in the market by achieving revenue share of 24.6% in 2023.
• By product, the functional foods segment has reported highest revenue share of 46.3% in 2023.
• By distribution channel, In 2023 the supermarkets/hypermarkets segment has reported highest 32% of market revenue share.
• By form, tablets & soft Gels segment has reported highest 38% of market revenue share in 2023.

Nutraceuticals Market Growth Factors

• Increasing Health Awareness: Consumers are becoming more health-conscious, driving demand for nutraceuticals that offer preventive healthcare benefits. The rising awareness about the role of nutrition in maintaining health and preventing diseases is a major growth factor. Consumers are seeking products that provide essential nutrients and enhance overall well-being, fueling the market's expansion.
• Rising Prevalence of Chronic Diseases: The global increase in chronic diseases such as diabetes, obesity, and cardiovascular diseases is propelling the demand for nutraceuticals. These products are perceived as safer alternatives to pharmaceutical drugs, providing essential nutrients that help manage and prevent chronic conditions. This trend is particularly strong in developed countries where lifestyle-related health issues are prevalent.
• Aging Population: The growing aging population is a significant driver of the nutraceuticals market. Older adults are more prone to health issues and are increasingly turning to nutraceuticals to improve their quality of life and maintain health. Products targeting bone health, cognitive function, and overall vitality are especially in demand among this demographic.
• Innovation in Product Development: Advancements in biotechnology and food science have led to innovative nutraceutical products with enhanced efficacy and bioavailability. Companies are investing in research and development to create new formulations that meet specific health needs. This innovation is expanding the range of available products and attracting more consumers.
• Growing Trend of Preventive Healthcare: There is a shift towards preventive healthcare, where individuals are taking proactive steps to prevent health issues before they arise. Nutraceuticals play a crucial role in this approach by providing essential nutrients and bioactive compounds that support long-term health. This trend is driving the adoption of nutraceuticals across various age groups.
• Supportive Government Policies and Regulations: Governments worldwide are recognizing the benefits of nutraceuticals and are implementing supportive policies and regulations. For instance, regulatory frameworks that ensure the safety and efficacy of these products encourage consumer confidence and market growth. Additionally, government initiatives promoting healthy lifestyles further boost the nutraceuticals market.

Nutraceuticals Market Trends

• Personalized Nutrition: Personalized nutrition is gaining traction as consumers seek products tailored to their unique health needs and genetic profiles. Advances in genomics and biotechnology enable the development of nutraceuticals designed for individual dietary requirements, improving efficacy and customer satisfaction.
• Plant-Based Nutraceuticals: There is a growing demand for plant-based nutraceuticals, driven by the increasing popularity of vegan and vegetarian diets. Consumers are opting for natural, plant-derived products over synthetic ones due to perceived health benefits and environmental sustainability, prompting manufacturers to innovate in this space.
• Clean Label Products: The clean label trend is influencing the nutraceuticals market, with consumers demanding transparency regarding product ingredients. They prefer products with minimal, natural, and recognizable ingredients, free from artificial additives, preservatives, and genetically modified organisms (GMOs). This trend is pushing companies to reformulate their products to meet clean label standards.
• Functional Beverages: Functional beverages are emerging as a popular segment within the nutraceuticals market. These drinks, fortified with vitamins, minerals, amino acids, and other bioactive compounds, offer convenient and tasty ways to consume essential nutrients. The market for functional beverages is expanding rapidly, driven by busy lifestyles and the demand for on-the-go nutrition.
• Gut Health Products: The growing understanding of the gut microbiome's role in overall health is driving demand for nutraceuticals that support digestive health. Probiotics, prebiotics, and synbiotics are becoming mainstream as consumers seek products that improve gut health, boost immunity, and enhance nutrient absorption.
• Anti-Aging and Beauty Supplements: The nutraceuticals market is seeing a surge in products aimed at anti-aging and beauty. Consumers are increasingly interested in supplements that promote skin health, hair growth, and overall youthful appearance. Ingredients like collagen, antioxidants, and vitamins are popular in these formulations, addressing the demand for beauty from within.
• E-Commerce Growth: The rise of e-commerce is significantly impacting the nutraceuticals market, providing consumers with easier access to a wide range of products. Online platforms offer detailed product information and reviews, helping consumers make informed decisions. The convenience of online shopping, coupled with global availability, is driving sales and expanding market reach.

Report Scope

Nutraceuticals Market Dynamics

Drivers

Advancements in Biotechnology

• Cutting-edge advancements in biotechnology are enabling the development of more effective and targeted nutraceutical products. These technological innovations allow for the creation of high-quality supplements with enhanced bioavailability and efficacy, meeting the specific health needs of consumers. The ability to produce bioengineered ingredients and advanced formulations drives market growth by offering superior products that address diverse health concerns.

Rising Healthcare Costs

• The escalating costs of healthcare are pushing consumers towards preventive measures, including the use of nutraceuticals. As medical treatments and pharmaceuticals become more expensive, individuals are increasingly turning to dietary supplements and functional foods to maintain their health and prevent illness. This shift towards cost-effective, preventive health solutions significantly boosts the demand for nutraceutical products.

Restraints

Regulatory Challenges

• The nutraceuticals market faces significant regulatory challenges, with varying regulations and standards across different countries. Compliance with these diverse regulatory frameworks can be complex and costly for manufacturers, potentially delaying product launches and limiting market expansion. Inconsistent regulations regarding labeling, health claims, and ingredient approvals add to the burden, creating barriers to market entry and growth

High R&D Costs

• Developing innovative and effective nutraceutical products requires substantial investment in research and development. High R&D costs can be a significant restraint, particularly for smaller companies with limited financial resources. These expenses include clinical trials, quality assurance, and safety testing to meet regulatory requirements. The need for continuous innovation to stay competitive further exacerbates the financial strain on companies in the nutraceuticals market.

Opportunities

Expansion in Emerging Markets

• The growing middle class and increasing health awareness in emerging markets such as India, China, and Brazil present significant opportunities for the nutraceuticals industry. These regions exhibit rising disposable incomes and a shift towards healthier lifestyles, creating a strong demand for dietary supplements and functional foods. Companies can capitalize on this trend by introducing tailored products and establishing a strong distribution network in these high-growth regions.

Integration with Digital Health

• The integration of nutraceuticals with digital health platforms offers a promising opportunity. By leveraging wearable devices and health monitoring apps, companies can provide personalized nutrition recommendations and track the effectiveness of their products. This data-driven approach not only enhances consumer engagement and trust but also allows for the development of customized nutraceutical solutions, thereby driving market growth and innovation.

Challenges

Consumer Skepticism

• Despite the growing popularity of nutraceuticals, consumer skepticism remains a significant challenge. Many consumers question the efficacy and safety of these products due to past instances of exaggerated claims and lack of rigorous scientific evidence. This skepticism can hinder market growth, making it essential for companies to invest in transparent communication, third-party validations, and clinical research to build consumer trust and credibility.

Supply Chain Issues

• The nutraceuticals market faces challenges related to supply chain management, including the consistent sourcing of high-quality raw materials. Variability in ingredient quality, supply disruptions, and price fluctuations can impact product consistency and cost-efficiency. Ensuring a reliable and sustainable supply chain is critical for maintaining product standards and meeting consumer demand, necessitating strategic partnerships and robust supply chain strategies.

Nutraceuticals Market Segmental Analysis

Product Type Analysis

Dietary Supplements: Dietary supplements are experiencing growth due to increasing consumer awareness about preventive healthcare and wellness. The dietary supplements segment has registered market share of 23.6% in 2023. Trends such as personalized nutrition, plant-based ingredients, and innovative delivery formats like gummies and powders drive this segment. The rising prevalence of chronic diseases and the aging population also boost demand, as consumers seek products that support overall health and specific health concerns.

Functional Foods: Functional foods are gaining popularity as they offer additional health benefits beyond basic nutrition. Trends include the incorporation of probiotics, prebiotics, omega-3 fatty acids, and antioxidants to support gut health, immunity, and heart health. The demand for clean label products, plant-based alternatives, and fortified foods is driving innovation and market growth in this segment. The functional foods segment has covered 46.3% of market share in 2023.

Functional Beverages: Functional beverages are becoming increasingly popular due to their convenience and ability to provide health benefits on-the-go. In 2023, This segment has recorded market share of 30.1%. Trends such as enhanced hydration solutions, energy-boosting drinks, and beverages fortified with vitamins and minerals drive this segment. The rising interest in fitness, wellness, and natural ingredients contributes to the demand for functional beverages that support physical and mental well-being.

Source Analysis

Probiotics: Probiotics are increasingly sought after for their gut health benefits and immune support. Trends include the development of multi-strain formulations and targeted probiotic blends for specific health issues. Drivers such as rising digestive health awareness and the demand for natural and preventative healthcare solutions are boosting the probiotic segment.

Proteins & Amino Acids: The growing focus on fitness, muscle health, and weight management drives the demand for proteins and amino acids. Trends include plant-based protein sources and innovative delivery formats like protein bars and powders. The increasing popularity of high-protein diets and sports nutrition further fuels this segment's growth.

Phytochemicals & Plant Extracts: Phytochemicals and plant extracts are gaining traction due to their natural origin and health benefits, such as antioxidant and anti-inflammatory properties. Trends include the use of superfoods and botanical extracts in nutraceutical formulations. Drivers include consumer preference for natural ingredients and the increasing awareness of plant-based nutrition.

Fibers & Specialty Carbohydrates: Fibers and specialty carbohydrates are essential for digestive health and metabolic support. Trends focus on prebiotic fibers that enhance gut microbiota and overall wellness. Drivers include the rising prevalence of digestive disorders and the growing interest in dietary fiber for weight management and chronic disease prevention.

Omega-3 Fatty Acids: Omega-3 fatty acids are popular for their cardiovascular, cognitive, and anti-inflammatory benefits. Trends include the development of sustainable, plant-based omega-3 sources and high-purity formulations. Drivers such as increasing awareness of heart health and the benefits of omega-3 supplements for overall wellness drive this segment.

Vitamins: Vitamins remain a staple in the nutraceutical market, driven by their essential role in maintaining health. Trends include personalized vitamin formulations and the integration of vitamins into functional foods and beverages. The rising health consciousness and the need to address vitamin deficiencies fuel the demand for vitamin supplements.

Prebiotics: Prebiotics are in demand for their role in supporting gut health and enhancing the efficacy of probiotics. Trends include combining prebiotics with probiotics (synbiotics) and incorporating them into various food products. Drivers include the growing focus on digestive health and the increasing consumer interest in holistic health solutions.

Carotenoids: Carotenoids, known for their antioxidant properties and eye health benefits, are gaining popularity. Trends include their use in functional foods and supplements targeting skin and eye health. Drivers such as the rising awareness of the benefits of antioxidants and the demand for natural colorants in food products propel this segment.

Minerals: Minerals are essential for numerous bodily functions, and their demand is driven by the need to address dietary deficiencies. Trends include bioavailable mineral formulations and fortification of foods with essential minerals. Drivers include the growing health consciousness and the need to prevent mineral deficiencies for overall well-being.

Others: The others segment includes various bioactive compounds and specialty ingredients that offer unique health benefits. Trends in this segment involve the exploration of new, innovative ingredients and their integration into multi-functional nutraceutical products. Drivers include ongoing research and development and consumer demand for novel, effective health solutions.

Distribution Channel Analysis

Supermarkets/Hypermarkets: Supermarkets and hypermarkets are key distribution channels due to their wide reach and convenience for consumers. The supermarkets and hypermarkets segment has calculated market share of 32% in the year of 2023. Trends include the increasing availability of private label nutraceutical products and dedicated health and wellness sections. Drivers such as the growing consumer preference for one-stop shopping and the trust in established retail brands boost this channel's importance.

Convenience Stores: Convenience stores benefit from the demand for quick and easy access to nutraceutical products. This segment has measured 29% of market share in 2023. Trends include the stocking of popular, fast-moving nutraceutical items and health-focused snacks. Drivers such as the increasing pace of urban lifestyles and the need for on-the-go health solutions support the growth of nutraceutical sales in convenience stores.

Online Retail: Online retail is rapidly growing due to the convenience of shopping from home and access to a wide range of products. The online retail segment has captured market share of 13% in 2023. Trends include personalized recommendations, subscription services, and direct-to-consumer brands. Drivers such as the increasing use of e-commerce platforms and the preference for contactless shopping drive the expansion of nutraceutical sales online.

Others: The others segment includes specialty health stores, pharmacies, and direct sales channels. Trends in this segment involve professional recommendations, targeted marketing, and exclusive product lines. This segment has generated market share of 26% in 2023. Drivers include the need for expert advice on health products, the rise of wellness clinics, and the popularity of multi-level marketing for nutraceuticals.

Nutraceuticals Market Regional Analysis

Why North America is leading in the nutraceuticals market?

North America is a leading market for nutraceuticals, driven by high consumer awareness and demand for preventive healthcare. The North America market size is expected to reach around USD 411.63 billion by 2033 increasing from USD 216.06 billion in 2024 with a CAGR of 7.43%. The region benefits from advanced research and development, strong regulatory frameworks, and a robust distribution network. Key trends include the growing popularity of functional foods and dietary supplements, driven by rising health consciousness and the prevalence of chronic diseases. The presence of major market players and a well-established retail infrastructure further support market growth. U.S market size is estimated to reach around USD 308.72 billion by 2033 increasing from USD 162.05 billion in 2024 with a CAGR of 7.47%.

Why is Asia Pacific experiencing significant growth in the nutraceuticals market?

The Asia-Pacific region is experiencing rapid growth in the nutraceuticals market due to increasing disposable incomes, urbanization, and growing health awareness. Key drivers include the rising prevalence of lifestyle-related diseases and a shift towards preventive healthcare. The Asia Pacific market size is calculated at USD 161.95 billion in 2024 and is projected to grow around USD 308.53 billion by 2033 with a CAGR of 8.30%. Trends favor traditional ingredients combined with modern science, such as herbal supplements and functional foods. Expanding e-commerce platforms and government initiatives supporting health and wellness further propel market growth in this diverse and populous region.

Europe Nutraceuticals Market Trends

Europe nutraceuticals market is characterized by strong regulatory standards and a high level of consumer health awareness. The demand for natural and organic products is significant, with trends favoring plant-based ingredients and clean label products. Factors such as the aging population, rising healthcare costs, and the emphasis on preventive health measures drive market expansion. The Europe market size is measured at USD 196.97 billion in 2024 and is expected to grow around USD 375.25 billion by 2033 with a CAGR of 7.60%. Innovations in product formulations and the presence of leading nutraceutical companies enhance the region's market dynamics.

LAMEA Nutraceuticals Market Trends

LAMEA presents significant growth opportunities for the nutraceuticals market, driven by increasing health awareness and rising disposable incomes. The demand for dietary supplements and functional foods is growing, supported by the region's focus on improving healthcare infrastructure. The LAMEA market size is forecasted to reach around USD 158.53 billion by 2033 from USD 83.21 billion in 2024 with a CAGR of 6.10%. Trends include the use of locally sourced ingredients and the adoption of international health and wellness standards. Challenges such as varying regulatory environments and economic instability are being addressed, enhancing market potential in this emerging region.

Global Nutraceuticals Market Top Companies

• Amway
• Herbalife Nutrition Ltd.
• Nestlé S.A.
• PepsiCo Inc.
• Archer Daniels Midland Company
• Abbott Laboratories
• Danone S.A.
• GlaxoSmithKline PLC
• Bayer AG
• Pfizer Inc.
• Cargill, Incorporated
• General Mills Inc.
• Kraft Heinz Company
• Nature’s Bounty Co.
• DSM Nutritional Products

Among the key players, Herbalife Nutrition Ltd. and Nature’s Bounty Co. are new entrants leveraging direct-to-consumer sales and personalized nutrition. Nestlé S.A. and PepsiCo Inc. dominate the market, driven by extensive distribution networks and strong brand recognition. Nestlé collaborates with biotech firms for innovative health solutions, while PepsiCo integrates functional ingredients into popular products. DSM Nutritional Products focuses on sustainable practices and R&D, partnering with tech firms to enhance product efficacy. These collaborations and innovations enable both new and established players to meet evolving consumer demands for health and wellness.

CEO statements

Herbalife Nutrition Ltd. John Agwunobi, CEO

"Our mission is to improve nutrition and wellness around the world, and we are committed to delivering high-quality, science-backed products that support healthier lifestyles."

Nestlé S.A. Mark Schneider, CEO

"Nestlé is at the forefront of nutritional science, and we are dedicated to enhancing the quality of life and contributing to a healthier future with our innovative nutraceutical solutions."

PepsiCo Inc. Ramon Laguarta, CEO

"We are transforming our portfolio to offer more nutritious options, integrating functional ingredients to meet the growing consumer demand for health and wellness."

DSM Nutritional Products, Geraldine Matchett, Co-CEO

"Sustainability and innovation are at the core of our strategy, driving us to develop cutting-edge nutritional solutions that benefit both people and the planet."

Amway, Milind Pant, CEO

"Empowering people to live healthier lives through our extensive range of high-quality nutraceutical products remains our primary focus, underpinned by decades of scientific research and development."

GlaxoSmithKline PLC, Emma Walmsley, CEO

"We are committed to advancing the science of nutrition, combining our pharmaceutical expertise with innovative nutraceutical approaches to support global health and wellness."

These statements reflect the CEOs' commitment to innovation, quality, and consumer health, showcasing the strategic focus of leading nutraceutical companies on advancing nutrition science and meeting the evolving wellness needs of consumers.

Recent Developments

• In January 2024, Zingavita, an Indian startup specializing in nutraceuticals and supplement products, raised approximately USD 1.2 million in its pre-series A round funding. This investment aims to boost their production capabilities and expand their product range to meet the rising demand in the health and wellness sector.
• In April 2023, Fonterra, a New Zealand dairy giant, launched functional beverage products under its Anchor and Fernleaf brands to cater to the increasing demand for ready-to-drink beverages across South East Asia. Collaborating with 7-Eleven, Fonterra introduced Actif-Fiber and Anchor-Beaute functional dairy beverages, enhancing convenience for health-conscious consumers.
• In May 2023, Kirin Holdings Company Limited partnered with Kellogg’s Company to introduce a new product portfolio, Kellogg’s All-Bran, in Japan. This innovative product blends L. lactis strain Plasma (postbiotic) and fermented dietary fiber to support immune health, reflecting the growing trend of functional foods in the Japanese market.
• In February 2021, Israeli functional gummy supplement manufacturer TopGum Industries Ltd. expanded its operations in the U.S. by establishing a new subsidiary, TopGum, Inc., in New Jersey. This strategic move aims to increase production capacity and marketing activities, targeting the North American and European markets with their functional gummy bears.
• In January 2021, Alpine Start Inc., a premium instant coffee manufacturer, launched its functional beverages, With Benefits, via Kickstarter. These fortified beverages, made with clean-label, natural ingredients, are designed to boost immunity and focus, showcasing the trend of integrating functional benefits into everyday consumables.

Market Segmentation

By Product Type

• Dietary Supplements
  • Vitamins
  • Botanicals
  • Minerals
  • Proteins & Amino Acids
  • Fibers & Specialty Carbohydrates
  • Omega Fatty Acids
  • Probiotics
  • Prebiotics & Postbiotics
  • Others
• Functional Foods
  • Carotenoids
  • Dietary Fibers
  • Fatty Acids
  • Minerals
  • Prebiotics & Probiotics
  • Vitamins
  • Others
• Functional Beverages

By Form

• Capsules
• Liquid & Gummies
• Tablets & Soft Gels
• Powder
• Others

By Distribution Channel

• Supermarkets/Hypermarkets
• Convenience Stores
• Online Retail
• Others

By Application

• Allergy & intolerance
• Animal nutrition
• Healthy ageing
• Bone & joint health
• Cancer prevention
• Children's health
• Cognitive health
• Diabetes
• Digestive / Gut health
• Energy & endurance
• Eye health
• Heart health
• Immune system
• Infant health
• Inflammation
• Maternal health
• Men's health
• Nutricosmetics
• Oral care
• Personalised nutrition
• Post Pregnancy and reproductive health
• Sexual health
• Skin health
• Sports nutrition
• Weight management & satiety
• Women's health
• Other

By Regions

• North America
• APAC
• Europe
• LAMEA