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Nutraceuticals market to reach US$$302mn by 2022

author:Naturalindate:2017-02-08 16:19Click: times
 
According to a new report , the nutraceutical market is expected to be US$184,092 million in 2015, growing at a CAGR of 7.04% from 2016 to 2022 to reach US$302,306 million by 2022. The functional food segment dominated the market in 2015 with more than one-fourth share, in terms of revenue.
 
Nutraceuticals are standardized grade of food sources derived from food sources with extra benefits in addition to basic nutritional value found in food. Integration of nutraceuticals with personal care has benefitted the market with cosmeceuticals owing to its anti-aging properties. In addition, increase in demand for nutraceutical in dietary supplements products is expected to drive the market owing to decreased use of genetically modified foods and crops.
 
Both functional foods & beverages occupy three-fifth of the total volume by revenue. Functional medicines segment in the nutraceuticals industry, and emerges as the best alternative for normal medicines. Nutraceuticals influence drug metabolism, and can also boost the pharmaceuticals in the body when optimally balanced, thus opening lucrative business opportunities through patented combinations of nutraceuticals and pharmaceuticals.
 
Key findings of the report
 
Functional food segment is expected to grow with a CAGR of 6.84% during 2016-2022.
The functional food segment is the fastest growing market occupying more than one-fourth of the total volume in terms of revenue.
The personal care and pharmaceuticals product is expected to grow with a CAGR of 7.61% during 2016-2022.
Asia-Pacific occupies approximately one-third of the total volume by revenue in terms of geography.
Asia-Pacific and Europe collectively contributed more than half of the share to the global nutraceuticals market revenue in 2015. India is expected to achieve a CAGR of 14.23 percent during the forecast period.
 
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