The Global Market for Nutraceuticals Set for Robust Growth

The global market for nutraceuticals will grow at 7.5% CAGR, according to a new study by PMMI Business Intelligence, from a $241 billion market in 2019 to $373 billion in 2025. In the U.S. alone, the market this year is expected to hit $79 billion in sales.

The Global Market for Nutraceuticals Set for Robust Growth
The Global Market for Nutraceuticals Set for Robust Growth

The nutraceutical market includes vitamins and supplements, as well as functional foods and beverages. The report, ”2019 Nutraceuticals Market Assessment,” says consumers around the world are seeking alternatives to better health, suffer from pill fatigue, and look for more innovative foods and drinks that supply all their nutritional needs for exercise, weight management, digestive health, and general well-being.

Packaging is evolving with this consumer trend, away from rigid containers to pouches and stick packs with innovative delivery, but glass still performs best with certain products, especially for amber vials of CBD oil—another big growth driver.

In Europe, regulations are more strict than in the U.S., and in Asia it’s all about gift giving and the unboxing experience.

Processors selling into both U.S. and European market are challenged to meet stringent guidelines as outlined in The Food Supplements Directive (FSD), 2002/46/EC. This directive establishes a definition for food supplements and a list of allowable vitamins and minerals and sets labeling requirements. Producers can sell 13 vitamins from 45 allowable sources, and 17 minerals from 136 allowable sources.

“Europe is big on functional foods based on probiotics - like yogurts and juices - those are the delivery methods of choice for probiotics, not pills,” says a Plant Manager for a probiotic company.

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