Updated on 5 July 2014
Dietary Supplement market remained the fastest growing segment of the Middle East and Africa (MEA) nutraceutical market at 30.8 percent CAGR during 2007- 2011. Non Herbals segment was the fastest growing segment of MEA dietary supplement market during 2007-2011 whereas Proteins and Peptides market segment has the largest share of revenue of MEA dietary supplement market in 2011.
The Global Nutraceutical market is estimated to have a growth rate of 6.6 percent during the period of 2012-2017 in the protein and peptides segment of dietary supplement market. The non herbal segment of dietary supplement market will have a growth rate of 6.3 percent from 2012 to 2017. The omega fatty acid fortified food segments of functional food market will have a growth rate of 6.7 percent during the forecasted period. The North America and Asia Pacific nutraceutical market is expected to have a market share of 39.2 percent and 30.4 percent respectively in 2017. The dietary supplement market will be the fastest growing market from 2012 to 2017 as it helps in improving the body's ability to heal and protect itself.
The Asia Pacific Nutraceutical product market is an emerging market in dietary supplements and the functional food segment. Japan is the largest consumer of nutraceuticals. China is the second largest consumer of nutraceutical products as people become more conscious about their food habits and have the largest population in the world. The functional food market in India is expected to have a moderate growing rate as compared to the dietary supplement segment in the region. The functional food and beverage market in India is expected to grow upto 70.74 percent as compared to the dietary supplement market in 2017.
The Eastern Europe Nutraceutical product market is growing on account of high growth in functional food, and dietary supplement segments. Russia is the largest consumer of nutraceuticals in the region. The growth in nutraceutical products is taking place due to increasing old age population in the region. The Russian and Hungarian nutraceutical market is expected to have a market share of 24.4 percent and 20.2 percent respectively in 2017. The increase in disposable income of Eastern European consumers over the evaluation period 2012-2017 could also help in faster adoption of the nutraceuticals product adoption in the region.
According to the report on research and markets by the Global Nutraceuticals Market report, the market is expected to grow at a CAGR of 6.3 percent over the period 2013-2018. One of the key factors contributing to this market growth is the increasing global ageing population. The Global Nutraceutical market has also been witnessing an increase in nutraceutical product development. However, the threat of ingredients and raw material contamination could pose a challenge to the growth of this market. Some of the leading names in this market include Archer Daniels Midland, BASF SE, GlaxoSmithKline, and Nestlé SA Bactolac Pharmaceutical, Bayer Healthcare AG, NBTY, and Perrigo.