Current and Future Market of the Dietary Supplements and Nutraceuticals in the Global Economy
摘要
The nutraceutical and dietary supplement market is one of the fastest-growing sectors, driven by an increasing customer focus on preventive health management and natural ingredient intake. Nutraceuticals describe functional foods, probiotics, vitamins, and prebiotics that promote health and prevent lifestyle-related diseases such as diabetes, cardiovascular disease, and obesity. In 2023, the global market was valued at USD 317.22 billion and is expected to achieve a compound analytical growth rate (CAGR) of 9.6% in the forecast period of 2024–2030. Segmentation of leading markets within the sector includes North America, Europe, and the Asia-Pacific region. Functional foods and probiotics have the dominant share in the development of this market. With the advancement in technology for the formulation of products, such as nanotechnology and biofortification, the bioavailability of nutrients has increased, and innovations in the sector have also risen accordingly. With the awareness of artificial additives, consumers started moving toward products that do not contain them. Their preference for products helped push the demand for clean-label products and natural excipients. Strong regulatory framework conditions, high cost of development, and restricted accessibility of products in some regions are a few drawbacks for this market. Here, the present status and future impact of the nutraceutical and dietary supplement market in the global economy are analyzed.