The Global Nutraceuticals Market to Experience Enhanced Growth due to Collaborations Like That of Danone With Brightseed

Nutraceutical is the term that is combined with two terms, one is “nutrient” which means nourishing food component, and the other one is “pharmaceutical” which means a medical drug. So, the term nutraceuticals are used for any product that is made up of food sources that deliver additional nutritional and medicinal benefits. These specific products include herbal products, genetically engineered products, vitamins, and dietary supplements. Nutraceuticals contain bioactive compounds which help in the prevention and treatment of chronic diseases. Nowadays, nutraceuticals are available in various forms, such as energy bars or pills, drinks, functional foods, protein powder, and many more.

Forecast Analysis of the Global Nutraceuticals Market

With the increasing demand for functional food to provide powerful health benefits beyond basic nutritional value, the market is expected to experience a remarkable growth during the analysis timeframe. Besides, the growing use of nutraceuticals for sports nutrition, cellular repair, digestive health, cardiovascular health, women’s health, and many more, is expected to foster the growth of the market during the forecast period. Moreover, the increasing health consciousness and awareness about dietary supplements among consumers are the factors expected to create huge investment opportunities for the nutraceuticals market over the estimated timeframe. However, the high investment cost of the nutraceutical industry for the high research and development of nutraceuticals may hinder the growth of the market throughout the analysis period.

According to the report published by Research Dive, the global nutraceuticals market is anticipated to generate a revenue of $516.5 billion and rise at a CAGR of 7.6% during the estimated timeframe from 2021-to 2028. The major players of the market are Danone, Cargill, Inc., General Mills Inc., BASF SE, Koninklijke DSM N.V., DuPont de Nemours, Inc., Nestle S.A., Archer Daniels Midland Company, PepsiCo, Inc., Amway Corporation, and many more.

Key Developments

The key companies operating in the industry are adopting various growth strategies & business tactics such as partnerships, collaborations, mergers & acquisitions, and launches to maintain a robust position in the overall market, which is subsequently helping the global nutraceuticals market to grow exponentially.

For instance, in August 2021, Danone, a leading multinational food-products manufacturing company focusing on essential dairy and plant-based products, announced its partnership with Brightseed, a renowned biotechnology company that uses artificial intelligence to reveal powerful compounds hidden in nature. With this partnership, Danone aimed to establish a health-forward food system by expertizing on plant-based products.

In June 2021, Nestle Health Science, a leader in the field of nutritional science, partnered with Focus Brands, a renowned American-based developer of global multi-channel foodservice brands to launch a nutritional drink named “Carnation Breakfast Essentials”. It is a ready-to-drink beverage loaded with key nutrients and a great flavored breakfast experience. This particular breakfast beverage contains 10 grams of protein, 21 vitamins and minerals, and many more essential ingredients.

In December 2021, Cargill Inc., a leading American global food corporation, acquired Croda International Plc., a British specialty chemicals company, to expand its product portfolio for supplying innovative and natural-based solutions to mankind. With this acquisition, the companies focused on deep operational expertise, and a global supply chain to expand the bio-based portfolios for customers worldwide.

Most Profitable Region

The Asia-Pacific region of the nutraceuticals market is expected to have the largest share and is predicted to generate a revenue of $203.5 billion by 2028 and rise at a CAGR of 7.60% during the estimated period. This is mainly due to the increased number of health-conscious consumers all across the globe who motivate beverage manufacturers to adopt innovative strategies to develop functional beverages with numerous health benefits. In addition, the growing population of young adults and athletes in this region is the major factor expected to drive the regional growth of the nutraceuticals market over the forecast period.

Covid-19 Impact on the Market

Though the outbreak of the Covid-19 pandemic has drastically affected several other industries, it has had a positive impact on the nutraceuticals market. This is mainly because of the increasing adoption of food habits among people that imparted health benefits such as boosting the immunity level of the body. Furthermore, the active participation of several researchers and scientists to take strategic steps to recover society from the chaotic situation is the factor that effectively skyrocketed the growth of the nutraceuticals market during the pandemic period.