Nutraceuticals Market Trends, Growth, Share, Size and Forecast Research Report 2027
The global nutraceuticals market size is expected to gain momentum by reaching USD 658.11 billion by
2028 while exhibiting a CAGR of 9.3% between 2021 and 2028. Fortune Business Insights in its latest
report, titled, “Nutraceuticals Market, 2021-2028.”, mentions that the market stood at USD 320.00
billion in 2020. Factors such as the increasing personalization in nutritional diet and the increasing
investment in R&D activities are expected to propel the demand for the product in the forthcoming years.
For instance, in July 2019, General Mills announced its collaboration with GoodBelly to produce and
distribute lactose-free yogurts and a probiotic-based cereal to cater to the growing demand from consumers.
Therefore, the increasing focus on the personalization of nutrition has propelled companies to introduce
healthy food products worldwide.
Massive Spike in Demand for Healthy Food Products amid COVID-19
The COVID-19 pandemic has brought upon a turbulent time for several economies worldwide. However, it
has also been an eye-opener for people globally to adopt a healthy and nutritious diet with a core focus on
building strong immunity. The demand for vitamins and minerals has surged significantly and people are
consuming immunity-boosting products to ensure protection from chronic and infectious diseases. This is
expected to bode well for the growth of the market in the forthcoming years.
Based on product type, the market is trifurcated into dietary supplements, functional foods, and functional
On the basis of product type, the dietary supplements segment held a global nutraceuticals market share of
about 19.12% in terms of revenue in 2020 and is likely to experience considerable growth. This is due to the
several companies focusing on expanding their dietary supplement production facilities to cater to the
growing consumer demand.
Based on the distribution channel, the market