Functional Foods Fueling Global Nutraceuticals Market

DUBLINFueled by consumers who are more conscious about overall health and healthy eating, the global nutraceuticals market, including functional food, functional beverages and dietary supplements, is on track for continued steady growth through 2017, according to a new report from Research and Markets.

According to the Nutraceuticals Product Market: Global Market Size, Segment And Country Analysis And Forecasts (2007-2017)" report, functional foods remained the fastest-growing segment of North America nutraceutical market at 6.5% CAGR during 2007-2011. The functional beverage market in United States is expected to have moderate growth compared to dietary supplement market in the region. Omega fatty acid fortified food segment of functional food market will have a moderate growth rate during the forecasted period. Protein and peptide supplements will support the growth of the global nutraceutical market, while the non-herbal segment of dietary supplement market is expected to have a steady growth.

The North America and Asia Pacific nutraceutical market is expected to have a market share of 39.2% and 30.4% in 2017. The report notes the Asia Pacific Nutraceutical product market is an emerging market in dietary supplements and functional food segment. Japan is the largest consumer of nutraceuticals, while China is second largest consumers of nutraceutical product as people are more conscious about their food habits and they have the largest population in the world. The functional food market in India is expected to have moderate growth compared to dietary supplement in the region. The functional food and beverage market in India is expected to have 70.74% growth compared to the dietary supplement in 2017.

The Eastern Europe nutraceutical market is growing on account of high growth in functional food, and dietary supplement supplements segments. Russia is the largest consumer of nutraceuticals in the region. The growth in nutraceutical products taking place due to increasing made age population in the region. The Russia and Hungary nutraceutical market is expected to have a market share of 24.4% and 20.2% in 2017. The increase in disposable income of Eastern European consumer over the evaluation period 2012-2017 would also help in faster adoption of nutraceuticals product adoption in the region.

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