South Africa Nutraceuticals Market Size (2024 - 2029)

South Africa Nutraceuticals Market Analysis

The South Africa Nutraceuticals Market size is estimated at USD 3.95 billion in 2024, and is expected to reach USD 4.95 billion by 2029, growing at a CAGR of 4.60% during the forecast period (2024-2029).

The COVID-19 pandemic adversely impacted several countries worldwide, including South Africa, forcing the national governments to impose severe restrictions on the movement of goods and people to mitigate the spread of the virus. However, the pandemic also encouraged consumers to re-evaluate their dietary habits and lifestyles. This has boosted the growth of the nutraceutical market in the country over the past few months with the entry of several global and local players.

Additionally, the key players in the market have been focusing on product innovations and partnerships to expand their presence in the region. For instance, in 2020, Royal DSM, a leading science company in nutrition, the United Nations children's rights agency United Nations Children's Fund (UNICEF), and Swiss-based nutrition think tank Sight and Life announced the extension of their cross-sector partnership to focus on delivering better nutrition to at-risk children and mothers in South Africa until the end of 2021.

The South African Nutraceuticals Market is expected to be primarily driven by the consumer lifestyles and preferences of the consumers in the region. Due to the rise in the number of non-communicable chronic diseases and the increase in health awareness associated with the consumption of functional foods, consumers' interest in including nutraceuticals in their daily diets has increased, thereby promoting growth in the sales of nutraceuticals.

South Africa Nutraceuticals Industry Segmentation

Nutraceutical is a term used to describe any product derived from food sources with health benefits and basic nutritional requirements. The market studied is segmented by Type and by Distribution Channel. By Type, the market studied is segmented into Functional Foods, Functional Beverages, and Dietary Supplements on a broad scale. Furthermore, Functional Beverages are segmented into Energy Drinks, Sports Drinks, and Other Functional Beverages. Dietary Supplements are segmented into Vitamins and Minerals, Fatty Acids, and Other Dietary Supplements. By Distribution Channel, the market studied is segmented into Supermarkets/ Hypermarkets, Convenience Stores, Drug Stores/Pharmacies, Online Retail Stores, and Other Distribution Channels. The report offers market size and forecasts in value (USD million) for all the above segments.