- The key vendors in the global nutraceuticals market 2015-2019 are ADM, BASF, Cargill, DSM Nutritional Products, DuPont, GlaxosmithKline, and Nestle.
London, 7 July 2015: Technavio, an independent tech-focused global research firm, has announced the publication of its market research report on the global nutraceuticals market 2015-2019. The growing adoption of alternative healthcare practices is a key trend observed in this market. Recently, as a result of the consumers change in preference, there has been a rise in the popularity of complementary therapies such as vitamin therapy, aromatherapy, meditation, relaxation techniques, and nutraceutical products. The aforementioned therapies help to prevent diseases and in turn augment growth in this market. The global nutraceuticals market is expected to grow at a CAGR of 6.5% during the forecast period of 2014-2019.
The increase in demand for nutraceutical products facilitates growth in this market. Rapid growth in the food and beverage industry also contributes towards this market’s growth. The food and beverage industry is witnessing the rapid adoption of nutraceutical products due to rapid change in the consumers’ preference. Consumers nowadays are becoming increasingly health conscious and this recent paradigm shift is in turn facilitating growth in the nutraceutical market.
“The demand for nutraceutical nutrients and minerals is increasing rapidly among consumers in the world. Products fortified with Vitamin E are derived naturally from plants and have the highest demand in Europe and other countries such as Brazil. As a result, the production of edible products using biotechnology has reduced in these regions,” says Faisal Ghaus, Vice President of Technavio Research.
“Products that contain natural formulations of beta carotene (Vitamin A) are also gaining pace in the global nutraceuticals market as they are considered to be more effective than synthetic ingredients.”
To define the market conditions in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges, and trends featuring data on product segmentations, vendor shares, growth rate by revenue, and an evaluation of the different buying criteria in the order of importance.
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