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Prediction for 2022: Nutraceuticals Market Is Set to Boom in Coming Years
Patented products of pharmaceuticals products with nutraceuticals is a lucrative delivery platform for pharmaceutical industries.
Nutraceuticals market report published by Allied Market Research, forecasts that the global market is expected to be $184,092 million in 2015, growing at a CAGR of 7.04% from 2016 to 2022 to reach $302,306 million by 2022. The functional food segment dominated the market in 2015 with more than one-fourth share, in terms of revenue.
Nutraceuticals are standardized grade of food sources derived from food sources with extra benefits in addition to basic nutritional value found in food. Integration of nutraceuticals with personal care has benefitted the market with cosmeceuticals owing to its anti-aging properties. In addition, increase in demand for nutraceutical in dietary supplements products is expected to drive the market owing to decreased use of genetically modified foods and crops. The expensive medical treatments have paved the way for nutraceuticals as an alternative to expensive drugs which is expected to boom in near future.
Both functional foods & beverages occupy three-fifth of the total volume by revenue. Functional medicines segment in the nutraceuticals industry, and emerges as the best alternative for normal medicines. Nutraceuticals influence drug metabolism, and can also boost the pharmaceuticals in the body when optimally balanced, thus opening lucrative business opportunities through patented combinations of nutraceuticals and pharmaceuticals.
Key findings of the Nutraceuticals Market:
1.Functional food segment is expected to grow with a CAGR of 6.84% during 20162022.
2.The European branded flour market is expected to garner with a CAGR of 6.99% during the forecast period.
3. LAMEA is expected to achieve a CAGR of 7.13% in proteins & peptides market during the forecast period.
4.The functional food segment is the fastest growing market occupying more than one-fourth of the total volume in terms of revenue.
5.The personal care and pharmaceuticals product is expected to grow with a CAGR of 7.61% during 20162022.
6.Asia-Pacific occupies approximately one-third of the total volume by revenue in terms of geography.
Asia-Pacific and Europe collectively contributed more than half of the share to the global nutraceuticals market revenue in 2015. India is expected to achieve a CAGR of 14.23% during the forecast period.
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions". AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Article classification: Industry News