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The Future of Health: Nutraceuticals Market Insights

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Arizton Market Research

The global nutraceuticals market was valued at USD 425.57 billion in 2022 and is expected to reach USD 693.06 billion by 2028, growing at a CAGR of 8.47% during the forecast period. The market witnessed significant growth due to the increasingly educated consumer base becoming more health-conscious. In addition, the rising awareness for a healthy life and preference towards personalized diet have favored the growth of the nutraceuticals market. These factors have the potential to drive the industry growth substantially. Vendors can focus on the personalized nutritional approach of people and continuously changing consumer behavior.

Nutraceutical is a product that has medicinal and general health benefits; such benefits have led to increased consumption of these products in every corner of the world. These products are derived from natural resources or developed in lab-controlled conditions after extensive research and development and have proven to have satisfactory health benefits. In recent years, the industry has become more advanced and more accessible. Also, nutraceuticals products are getting more popularity. The nutraceuticals market is highly attractive because of the tremendous changes, trends, opportunities, and drivers it offers. Furthermore, it is notable that the U.S. is the world’s leading market for nutraceuticals, with high expenditure, consumption, and awareness about nutraceuticals benefits.


North America accounted for the largest share of the global nutraceuticals market, accounting for over 32% in 2022. The factors governing the industry growth in the region are high awareness and high expenditure. The majority of people in North America consume nutraceutical products such as functional food. Behind those vitamins and dietary supplements is a highly growing segment across the region and the global industry. Furthermore, the increasing utilization of functional food and beverages by young adults and baby boomers is the leading factor propelling significant industry growth in the region.


During the forecast period, APAC is projected to grow rapidly and witness the highest CAGR growth rate in the global nutraceuticals market. In APAC, consumers are shifting towards functional food, beverages, and dietary supplements to support cognitive health and mental well-being. The consumer group in the region is becoming more proactive about their health, supporting the industry's growth. Furthermore, more than 89% of people across 24 countries who participated in the Herbalife Nutrition Company survey stated that they are taking steps towards improving their health, which included less unhealthy food intake, more exercise, and the addition of nutraceutical products such as vitamins and dietary supplements in their routine. Also, the survey revealed that Latin America accounted for more than a 7% share in the global dietary supplement industry, which is part of nutraceutical products, of which Brazil, Mexico, and Argentina accounted high industry share, respectively.


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