Market Trends of Nutraceuticals Industry
This section covers the major market trends shaping the Nutraceuticals Market according to our research experts:
Increased Demand From Healthy & Functional Foods
Rising consumer interest in functional food results from health benefits, performance, and perceived wellness. Due to the ease of incorporating nutraceutical ingredients, the demand for functional end-products such as dairy products, bakery and confectionery, snacks, cereals, fats and oils, meat, and baby food is rising. Famous fortification includes vitamins, minerals, fiber, and protein. High-protein food is the real winner, as it is popular among fitness enthusiasts. Also, people are even more concerned about their health nowadays than their baby-boomer counterparts.
For companies to differentiate themselves from the competition and create space in a crowded market, they are changing their delivery systems. It evolved beyond tablets and capsules to include newer delivery modes, including soft chews, chewing gum, gummy bears, patches, lollipops, and quick-dissolving strips. Fortified products are offered in convenient single-serving sizes. It is the reason behind the huge demand for functional snack bars. Furthermore, the dietary supplement moved into more 'food-like' delivery forms, such as pudding-like squeeze packets for omega-3 fish oil, joint juice for glucosamine, calcium in chocolate chew, etc.
Europe Emerges as one of the Largest Market for Nutraceuticals
In Europe, the nutraceuticals market is driven by anti-aging concerns among the elderly. This market is mainly concentrated in France, Italy, Germany, the United Kingdom, and Spain. Increasing pressure from European consumers and regulatory authorities is driving the need for nutraceutical products. Western Europe continues to thrive in nutraceutical sales mainly through health professional pharmacy-based distribution. The rising obesity, cardiovascular disease, and obesity are expected to lead the nutraceutical industry in the forecast period.
Also, functional bottled water is growing in European countries. For instance, in January 2022, OHMG, the owner of the United Kingdom functional drinks brand, launched water with three different forms of magnesium. The magnesium citrate, magnesium threonate, and magnesium glycinate ingredients in the OHMG range will each provide various functional benefits. Still, Sparkling, Sparkling Peach & Rosemary + Ashwagandha, Sparkling Raspberry & Lemon Balm +L-Theanine, and Sparkling Blackcurrant & Echinacea + Vitamin C are the five flavors available. Sales were boosted by strong marketing for Coca-Cola's Glacéau VitaminWater brand and from increasing consumption during sports and exercise. Therefore, these factors are expected to increase the consumption of nutraceutical products in European countries.
