Nutraceuticals are provide essential nutrients as dietary supplements and functional foods and beverage including the prevention or treatment of a disease and also, reduce the cost of high healthcare. The growing awareness regarding the consumption of healthy foods will result in increased demand for nutraceuticals more.
The global Nutraceuticals Product Market was valued at around USD 383.06 billion in 2017 and is expected to reach around USD 578.23 billion by 2025, at CAGR of 8.8% from 2018 to 2025 according to a new report by Grand. View Research Inc.1)
The nutraceutical market has been reported an increased focus on the ingredients used for manufacturing nutraceuticals. The U.S., Japan, Israel, and Germany are key markets for nutraceuticals owing to high product adoption rate in these developed economies. China, India, Brazil, and South Korea are expected to grow over the market size because of increasing investment by manufacturers and rising product demand.
Nutraceutical products have efficient on against obesity, aging, cancer and improve immunity and control emotion etc.
The current consumption pattern of customers are taking nutraceutical products for:
-A psychological performance as building their memory and recall and caring cognition.
-A physical health statement as boosting immunity and defending against disease
-An outward appearance as aging gracefully and beauty.
-A control of emotion as cultivate claim and sleep quality.
Above consumption trends of nutraceutical products is the escalating nutraceutical combine with other industries as digitalization and a stride in health awareness has been the contributor towards the growth of the market in the world.
The US still represents the largest nutraceutical market in the world but, The Asia Pacific nutraceuticals product market will have high growth rate based on the long histories of herbal medicine for treating disease and maintaining health. There is significant potential in Asia, particularly Japan, India, and China. Most prominently, the Japanese lead the Asia Pacific nutraceutical market through the regulating body (FOSHU) is flexible and highly developed, putting the functional claim on products likes of US monitoring.
The Japanese market is growing rapidly and is identifying specific functional categories in the market. In the review of the first half year of 2018 from a business survey. Manufacturers are taking in the nutraceutical ingredients that segmented on the type of enzyme, pro-biotics, collagen, chlorophyll juice and protein that effect on stomach health and reduce triglyceride, skin, and bone to aging care of the woman. View Ref. 2)
China’s natural health market was valued at around USD 30billion in 2015 according to China’s National Bureau of Statistics, and it’s been grown at an annual rate of around 20% since 2011 with point of view that foreign-developed brand is better than Chinese healthcare products. Nowaday, The health supplement market in China has been forecasted to reach 160 billion yuan in 2018. and The Chinese market is focused on Probiotics for sports nutrition to weight management with any other sources for healthcare. View Ref. 3), and Ref. 4)
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According to a recent report, total market for nutraceuticals in Asia-Pacific region is exponentially growing. In China and Japan it is currently a strong market trying to incorporate traditional herbal ingredients (most often ayurvedic, traditional chinese medicine (TCM) and KAMPO for Japan) into the nutraceutical portfolio. Asia-Pacific (including Japan) is expected to have the second largest market due to aging population and the high number of people encompass in Asian countries.
Korea Sales Manager
Ref1. Nutraceuticals Market Analysis By Product (Dietary Supplements, Functional Food, Functional Beverage), By Region (North America, Asia Pacific, Europe, CSA, MEA), And Segment Forecasts, 2018 – 2025 https://www.grandviewresearch.com/industry-analysis/nutraceuticals-market/request
Ref2. 健康産業新聞 functional industries News. https://www.kenko-media.com/