GVR Report cover Nutraceuticals Market Size, Share & Trends Report

Nutraceuticals Market Size, Share & Trends Analysis Report By Product (Dietary Supplements, Functional Food, Functional Beverages), By Region, And Segment Forecasts, 2020 - 2028

  • Published Date: Oct, 2021
  • Base Year for Estimate: 2020
  • Report ID: GVR-2-68038-059-0
  • Format: Electronic (PDF)
  • Historical Data: 2017 - 2019
  • Number of Pages: 120

Report Overview

The global nutraceuticals market size was valued at USD 417.66 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 8.9% from 2020 to 2028. The growing demand for dietary supplements and functional foods is expected to be a key driving factor for the global market over the forecast period. Favorable outlook towards medical nutrition due to the increasing application scope in the treatment of Cardiovascular Disorders (CVDs) and malnutrition is likely to stimulate the growth of the dietary supplements segment. Rising healthcare costs coupled with the increasing geriatric population across the world are anticipated to drive the global functional foods industry over the forecast period. Consumers’ attitude is being observed to be very positive towards functional foods, mainly on account of the added health and wellness benefits offered by these products.

U.S. nutraceuticals market size, by product, 2018 - 2028 (USD Million)

Furthermore, high adoption rates for herbal medicines across the globe on account of the rising concerns regarding hazardous effects of conventional pharma drugs are expected to expand the market size over the forecast period. In the wake of the COVID-19 pandemic, the demand for dietary supplements and functional foods has increased. Immunity-boosting supplements have become mainstream over the past year and this has led to a significant change in consumer behavior and buying patterns. The rising geriatric population, increasing healthcare costs, changing lifestyle, food innovation, and expectations regarding their higher prices have aided the overall growth as well as its demand. Dietary fibers and minerals are likely to have a high demand owing to the increasing awareness regarding their health benefits. Fibers tend to foster easier bowel movements while providing critical cleansing of internal organs, while minerals contribute to higher retention and passage of nutrients into cells.

Moreover, after the COVID-19 pandemic, preventive healthcare measures, such as dietary supplements, will become a part of people’s everyday lives. Thus, the global pandemic has supported the overall market growth. The U.S. has witnessed increasing demand for dietary supplements over the past few years owing to the growing importance of preventive healthcare among consumers. Consumers have been preferring multivitamins that provide essential nutrients to the human body. Multivitamins are becoming an integral part of the diet and this trend has augmented during the pandemic.

Product Insights

With respect to product segmentation, the industry is categorized into dietary supplements, functional beverages, and functional foods. The functional food segment led the overall market in 2020 with a revenue share of 47.13%, followed by dietary supplements and functional beverages. Technological up-gradation, coupled with progression in product development, is projected to drive the dietary supplements to segment over the coming years.

Global nutraceuticals market share, by product, 2020 (%)

Sports drinks are gaining popularity among athletes and other individuals involved in energetic physical activities. The demand for sports drinks among millennials also drives the market. The prebiotics- and probiotics-based functional foods are anticipated to witness the highest growth forecast period. The prebiotic and probiotic segment is anticipated to grow at the fastest CAGR of 10.7% from 2020 to 2028 owing to the promising roles of these foods in supporting the immune system.

Regional Insights

Asia Pacific led the global market in 2020 with a revenue share of more than 31% and is estimated to expand further at the fastest CAGR of 10.7% from 2020 to 2028. Growing health concerns among consumers and increasing awareness about nutraceuticals are likely to be the major factors driving the Asia Pacific regional market. In addition, an increasing geriatric population, rising spending on healthcare products, and changing lifestyles have enhanced the growth of the market in Asia Pacific. Supportive government regulations are also projected to boost the market growth.

However, the growing trend of food fortification with nutraceutical products is anticipated to create a huge opportunity for this market. Furthermore, the rapid growth of the retail sector in emerging markets including China, Indonesia, Malaysia, and India on account of regulatory support promoting investments is expected to increase the product accessibility, thereby enhancing the overall sales. Changing lifestyles along with rapid urbanization have led to consumers inclining towards healthy diet options, which also augments product demand.

Key Companies & Market Share Insights

The competitive landscape is characterized by the presence of key international players. Companies have implemented acquisition & mergers and new product launches as key strategies to compete in the market. Acquisitions and mergers facilitated the companies to expand their product reach and also to improve the product quality. Whereas, introducing new products to the market has supported the companies to offer better quality products meeting the changing consumer trends across the industry. Some of the prominent players in the global nutraceuticals market include:

  • Cargill, Inc.

  • Archer Daniels Midland Company

  • DuPont

  • Nestle S.A.

  • Danone

  • Royal DSM N.V.

  • General Mills

  • Innophos

  • WR Grace

  • Amway Corp.

  • AOR Canada

  • Arkopharma Laboratories S.A.

  • Bactolac Pharmaceuticals, Inc.

  • E.I.D Parry Ltd.

  • Valensa International

  • Matsun Nutrition

  • Mead Johnson Nutrition Company

  • Natrol Inc.

  • The Hain Celestial Group, Inc.

  • Herbalife Ltd.

Nutraceuticals Market Report Scope

Report Attribute


Market size value in 2021

USD 4,54,548.4 Million

Revenue forecast in 2028

USD 826,426.3 Million

Growth rate

CAGR of 8.9% from 2020 to 2028

Base year for estimation


Historical data

2017 - 2019

Forecast period

2020 - 2028

Quantitative units

Revenue in USD million/billion and CAGR from 2020 to 2028

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Product and region

Regional scope

North America; Europe; Asia Pacific; Central & South America; Middle East & Africa

Country scope

U.S.; Canada; Mexico; Germany; France; Italy; Spain; U.K; Russia; China; Japan; Australia & New Zealand; India; Brazil; Argentina; South Africa

Key companies profiled

Cargill, Inc.; Archer Daniels Midland Company; DuPont; Nestle S.A.; Danone; Royal DSM N.V.; General Mills; Innophos; WR Grace; Amway Corp.; AOR Canada; Arkopharma Laboratories S.A.; Bactolac Pharmaceuticals, Inc.; E.I.D Parry Ltd.; Valensa International; Matsun Nutrition; Mead Johnson Nutrition Company; Natrol, Inc.; The Hain Celestial Group, Inc.; Herbalife Ltd.

Customization scope

Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.

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Segments Covered in the Report

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2028. For the purpose of this study, Grand View Research has segmented the global nutraceuticals market report on the basis of product and region:

  • Product Outlook (Revenue, USD Million, 2017 - 2028)

    • Dietary Supplements

    • Functional Food

    • Functional Beverages

  • Dietary Supplements Product Outlook (Revenue, USD Million, 2017 - 2028)

    • Vitamins

    • Botanicals

    • Minerals

    • Proteins & Amino Acids

    • Fibers & Specialty Carbohydrates

    • Omega Fatty Acids

    • Others

  • Functional Food Outlook (Revenue, USD Million, 2017 - 2028)

    • Carotenoids

    • Dietary Fibers

    • Fatty Acids

    • Minerals

    • Prebiotics & Probiotics

    • Vitamins

    • Others

  • Functional Beverages Outlook (Revenue, USD Million, 2017 - 2028)

    • Energy Drinks

    • Sports Drinks

    • Functional Juices

    • Others

    • Infants
  • Regional Outlook (Revenue, USD Million, 2017 - 2028)

    • North America

      • U.S.

      • Canada

      • Mexico

    • Europe

      • U.K.

      • Germany

      • France

      • Italy

      • Spain

      • Russia

    • Asia Pacific

      • China

      • Japan

      • India

      • Australia & New Zealand

    • Central & South America

      • Brazil

      • Argentina

    • Middle East & Africa

      • South Africa

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