ResearchAndMarkets.com, a leading market research firm, has recently released its Global Nutraceuticals Market Outlook Report for the period 2023-2028. The report provides a comprehensive analysis of the nutraceuticals market, including key trends, growth drivers, challenges, and prominent vendors in the industry. Notably, BASF, Herbalife, Flavors & Fragrances, Nestle, and Meiji Holdings are identified as the prominent vendors in this market.
Nutraceuticals are products derived from food sources that provide additional health benefits beyond basic nutrition. They are often consumed in the form of dietary supplements, functional foods, or beverages. The global nutraceuticals market has witnessed significant growth in recent years, driven by increasing consumer awareness about health and wellness, rising disposable incomes, and a growing aging population.
According to the report, the global nutraceuticals market is expected to reach a value of $578.23 billion by 2028, growing at a CAGR of 7.2% during the forecast period. This growth can be attributed to several factors. Firstly, there is a growing demand for natural and organic products among consumers who are becoming more conscious about their health and the ingredients they consume. Nutraceuticals offer a natural alternative to synthetic drugs and are perceived as safer and more sustainable.
Furthermore, the rise in chronic diseases such as obesity, diabetes, and cardiovascular disorders has led to an increased focus on preventive healthcare. Nutraceuticals play a crucial role in disease prevention and management by providing essential nutrients and bioactive compounds that support overall health and well-being.
The report highlights that BASF, a leading chemical company, is one of the prominent vendors in the nutraceuticals market. The company offers a wide range of ingredients for the production of functional foods and dietary supplements. BASF’s expertise in nutrition science and its commitment to innovation have positioned it as a key player in the industry.
Herbalife, a global nutrition company, is another prominent vendor identified in the report. The company specializes in weight management, sports nutrition, and personal care products. Herbalife’s extensive product portfolio and its focus on personalized nutrition have contributed to its success in the nutraceuticals market.
Flavors & Fragrances, a renowned manufacturer of flavors, fragrances, and ingredients, has also established itself as a prominent vendor in the nutraceuticals market. The company offers a range of natural and synthetic flavors that enhance the taste and aroma of nutraceutical products.
Nestle, a leading multinational food and beverage company, has made significant investments in the nutraceuticals market. The company’s focus on research and development has resulted in the development of innovative products that cater to specific health needs. Nestle’s strong brand presence and global distribution network have contributed to its prominence in the market.
Meiji Holdings, a Japanese conglomerate, is another prominent vendor identified in the report. The company specializes in dairy products, confectionery, and pharmaceuticals. Meiji Holdings’ commitment to quality and its emphasis on research and development have positioned it as a key player in the nutraceuticals market.
In conclusion, the Global Nutraceuticals Market Outlook Report by ResearchAndMarkets.com provides valuable insights into the nutraceuticals market, including key trends, growth drivers, challenges, and prominent vendors. With BASF, Herbalife, Flavors & Fragrances, Nestle, and Meiji Holdings leading the way, the nutraceuticals market is expected to witness significant growth in the coming years.
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