The global nutraceuticals market is on the cusp of a major transformation, driven by growing consumer interest in natural and sustainable products that offer health benefits beyond basic nutrition. Nutraceuticals are becoming increasingly popular as a means of preventative healthcare, particularly as chronic diseases continue to be a leading cause of death worldwide.
According to a recent report, the nutraceuticals market is projected to reach $722.49 billion by 2027, with a compound annual growth rate (CAGR) of 8.3% from 2020 to 2027. The report attributes this growth to a number of factors, including the increasing adoption of plant-based diets and the rising demand for vegan and vegetarian products. Additionally, consumers are increasingly seeking out natural and sustainable products, which has led to a growing interest in nutraceuticals as an alternative to synthetic dietary supplements.
Technological advancements are also playing a significant role in the growth of the nutraceuticals market. For example, the use of nanotechnology has led to the development of nanoemulsions that enhance the bioavailability of nutraceuticals, making them more effective. Similarly, the use of encapsulation technology has led to the development of controlled-release products that provide sustained benefits over a longer period of time.
The nutraceuticals market presents a major opportunity for companies in the healthcare and food industries. By developing innovative and effective products that meet the growing demand for natural and sustainable options, companies can tap into a rapidly expanding market and contribute to the transformation of healthcare.
However, it’s important to note that not all nutraceuticals are created equal, and some may not have the same level of scientific evidence to support their health claims. As with any healthcare product, it’s important for consumers to do their research and consult with a healthcare professional before incorporating nutraceuticals into their wellness routine.
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Everest Market Insights journalist was involved in the writing and production of this article.