COVID-19 Impacts: Nutraceuticals Market will Accelerate at a CAGR of almost 9% through 2020–2024 | Demand for Nutraceuticals With Medical Benefits to Boost Growth | Technavio
Technavio has been monitoring the nutraceuticals market and it is poised to grow by USD 180.38 billion during 2020–2024, progressing at a CAGR of almost 9% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Please Request Free Sample Report on COVID-19 Impact
Frequently Asked Questions-
- What was the value of the nutraceuticals market in 2019?
- Technavio says that the value of the market was USD 357.35 billion in 2019 and is projected to reach USD 537.73 billion by 2024.
- At what rate is the market projected to grow during the forecast period 2020–2024?
- Growing at a CAGR of almost 9%, the market growth will accelerate in the forecast period of 2020–2024.
- What is the key factor driving the market?
- Demand for nutraceuticals with medical benefits is one of the key factors driving the market growth.
- Who are the top players in the market?
- Abbott Laboratories, Archer Daniels Midland Co., BASF SE, Cargill Inc., Danone SA, General Mills Inc., Kellogg Co., Nestlé SA, PepsiCo Inc., and The Coca-Cola Co. are some of the major market participants.
- Which region is expected to hold the highest market share?
- APAC
- What is the major trend in the market?
- The rising number of health-conscious consumers is a major growth factor for the market.
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Abbott Laboratories, Archer Daniels Midland Co., BASF SE, Cargill Inc., Danone SA, General Mills Inc., Kellogg Co., Nestlé SA, PepsiCo Inc., and The Coca-Cola Co. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
Demand for nutraceuticals with medical benefits has been instrumental in driving the growth of the market.
Nutraceuticals Market 2020–2024: Segmentation
Nutraceuticals Market is segmented as below:
- Product
- Geographic Landscape
- Functional Food
- Functional Beverages
- Dietary Supplements
- North America
- APAC
- Europe
- South America
- MEA
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Nutraceuticals Market 2020–2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our nutraceuticals market report covers the following areas:
- Nutraceuticals Market size
- Nutraceuticals Market trends
- Nutraceuticals Market analysis
This study identifies the rising number of health-conscious consumers as one of the prime reasons driving the nutraceuticals market growth during the next few years.
Nutraceuticals Market 2020–2024: Vendor Analysis
We provide a detailed analysis of vendors operating in the nutraceuticals market, including some of the vendors such as Abbott Laboratories, Archer Daniels Midland Co., BASF SE, Cargill Inc., Danone SA, General Mills Inc., Kellogg Co., Nestlé SA, PepsiCo Inc., and The Coca-Cola Co. Backed with competitive intelligence and benchmarking, our research reports on the nutraceuticals market are designed to provide entry support, customer profile and M&As as well as go-to-market strategy support.
