The Nutraceutical industryis witnessing a significant growth both in developed and developing regions dueto health benefits the nutraceutical products offer. Apart from healthbenefits, nutraceutical products also work as a medicine for chronic diseases.The nutraceutical products are useful for instance in delaying the agingprocess and improving the overall health of an individual.
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Increasing cost of the medical treatments isone of the key factors which is driving the growth of the nutraceuticalmarket. For example, high cost of insurance andhealthcare is propelling the growth of the nutraceutical market in China.Growing awareness and demand for organic healthcare products is furtherpropelling the growth of the market. In addition, the growing purchasing powerand aging population, specifically, in countries such as China, Japan, UK, andIndia are boosting the nutraceutical market growth. However, the high cost ofproducts and different regulatory standards in different countries arehindering the market growth.
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Various notable players operating in themarket, include the Archer Daniels Midland Company, BASF S.A., Danone (DanoneS.A), Dean Foods, E. I. du Pont de Nemours and Company, Cargill, Incorporated,Amway Corporation, Ingredion, PepsiCo Inc., and General Mills, Inc. Most of theplayers in the market are focusing on introducing new nutraceutical products formeeting the demands of the health-conscious millennial population. Forinstance, in June 2018, a UK-based beverage company introduced energy tea namedas “Yusa” which is created from guayusa leaves for the UK market.
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The globalNutraceutical market has been segmented based on the typeand key geographies. Based on the type, the market is segmented into functionalfoods, functional beverages, dietary supplements, and others. The functionalfoods are further segmented into omega fatty acid fortified food, branded wheatflour, probiotics fortified foods, branded ionized salts, and others. Thefunctional beverages are sub-segmented into fruits and vegetable juices anddrinks, non-carbonated drinks, dairy & dairy alternative drinks, andothers. The dietary supplements are further classified into Ayurveda extracts,Algal extracts, plant extracts, phytochemicals, and others.
Key questions answered in this research report
• Atwhat pace is the Nutraceutical market growing? What will be the growth trend inthe future?
• Whatare the key drivers and restraints in the current market? What will be theimpact of drivers and restraints in the future?
• Whatare the regional revenue and forecast breakdowns? Which are the major regionalrevenue pockets for growth in the Nutraceutical market?
• Whatare the various application areas, and how they are poised to grow?
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