Nutraceuticals are becoming increasingly important all over the world and are used daily in the average consumer’s diet. The main reasons for the increased use of nutraceuticals are an increasing incidence of diseases and infection, increased life expectancy, and malnutrition as a result of the current lifestyle of the population. Nutraceuticals have a variety of applications, including, nutrition, muscle growth, and weight management, among others. Nutraceuticals are mainly used to meet the body’s nutritional needs, and majorly for bodybuilding professionals. It is a firm projection is that these application-based factors will lead to an increase in the sector during the forecast period.
Functional beverage, which is one of the most influencing segments of nutraceuticals market is expected to grow at the highest level during the forecast period. Increased inclination on energy and sports drinks, especially for young people, and increasing preference for ready-to-drink beverages by consumers are the main factors that stimulate the growth of the functional beverage segment in the coming years.
Growth geriatric population, coupled with the high cost of health care in this region, is expected to have a positive impact on the growth of nutraceuticals in the forecast period. Growing knowledge of the healthy diet and its benefits for the patient suffering from diabetes, cancer, and obesity is expected to increase the growth of the nutraceuticals market.
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The US nutraceutical market was prognostic to benefit from the consumer preference for preventive care. Nutraceuticals could find wider application owing to its useful approach to the prevention of short- and long-term diseases. The increase in the number of baby boomers in the United States could lead to significant market demand due to their need for a healthy and safe food. The goal is to increase the launch of new functional products that add more functionality to traditional foods, in view of the demand for nutraceuticals and creating new categories of products.
Recently, food licensing authority of India, FSSAI rolled out a notice about the prohibition of 14 ingredients under Nutraceutical Regulations.