Tag: Functional Foods

Protein Supplement Market Worth $32.6 Billion By 2027

The global protein supplements market is anticipated to a market size of USD 32.6 billion by 2027, according to a new report by Grand View Research, Inc. It is expected to exhibit a CAGR of 8.0% during the forecast period. Growing number of fitness centers, gyms, and health clubs signify the increasing inclination toward healthier lifestyle. Athletes, bodybuilders, and recreational users have been the traditional consumers over the past few years.

Increasing busy lifestyle has been leading to the growing consumption of packaged nutritional foods, such as protein bars and drinks. In addition, rising obesity concerns along with increased preference for protein-rich products to maintain health has been a key factor augmenting the product demand. The rising number of fitness enthusiasts and gym subscriptions, especially in emerging regions, such as Asia Pacific, is leading to a higher demand for protein powder to build muscles.

The plant-based protein supplements segment is expected to be the fastest growing source over the forecast period. Rising preference for plant-based diets, owing to an increasing number of individuals turning vegan, vegetarian or flexitarian is expected to drive the product demand. In addition, ascending demand for vegan and vegetarian products that provide quality nutrition without having to rely on dairy or meat products coupled with innovations in substitutes is expected to open up new growth avenues in near future.

The sports nutrition supplements segment is expected to register the fastest growth over the forecast period. Rising prevalence of health conditions, owing to hectic schedules and nature of work coupled with growing consumer awareness about the relationship between maintaining a healthy diet and exercising is anticipated to result in increased demand for sports nutritional supplements.

Asia Pacific is anticipated to register the fastest growth over the forecast period. Factors, such as rising population, and urbanization along with increased disposable income of middle class are expected to drive the regional growth. Personal ownership of wellness and health on account of growing cost of medical care and concerns regarding public health care systems and changing consumption pattern from traditional to convenient to adapt to busy lifestyles are expected to further fuel the growth.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/protein-supplements-market

Further key findings from the report suggest:

  • Animal protein supplement accounted for a market share of 67.9% in terms of revenue in 2019, owing to high popularity of whey protein supplements among athletes and bodybuilders as it contains all nine essential amino acids
  • The plant-based protein segment is anticipated to expand at a CAGR of 8.8% from 2020 to 2027 and is projected to reach USD 11.05 billion in 2027. Increasing incorporation of various sources, such as soy, pea, and spirulina is majorly driving the segment growth
  • Asia Pacific is estimated to expand at a CAGR of 8.6% from 2020 to 2027 on account of expanding middle class population, penetration of e-retaining, and gym and sports club memberships
  • The protein supplement market is characterized by accreditation of the product, capacity expansion, capital expansion, and substantial investment decisions to improve the market share of manufacturers
  • Some of the prominent companies present in the market are Glanbia Plc, AMCO Proteins, Quest Nutrition, NOW Foods, NBTY, MusclePharm Corp, Abbot Laboratories, Cyto Sport, IOVATE, and Transparent Labs

Nutraceutical Market Size Worth $722.49 Billion By 2027

The global nutraceutical market size is projected to reach USD 722.49 billion by 2027, expanding at a CAGR of 8.3% over the forecast period, according to a new report by Grand View Research, Inc. Rising awareness regarding calorie reduction and weight loss in countries, including U.S., China, and India, is expected to promote the application of nutraceuticals, which, in turn, will have a substantial impact on the industry growth.

Nutraceuticals are products that provide health advantages and additional nutrition to the human body. It comprises of fortified nutrients, such as taurine, CoQ10, omega-3, calcium, zinc, and antioxidants, that enhance the complete health of consumers. These nutrients further help in averting medical conditions, such as hypertension, diabetes, heart diseases, and allergies. Demand for nutraceuticals is increasing at the global level as it improve the digestive and immune systems and enhance the cognitive behavior of consumers.

Growing trend among consumers to alter dietary habits is likely to boost the demand for nutraceuticals. The consumer belief that improper diet results in increase in costs on pharmaceuticals is anticipated to boost the demand for nutraceuticals. This would also help the government as it would result in lesser expenditure on healthcare and low social security costs.

Rise in disposable income, increasing consumer awareness concerning health issues, and rapid urbanization are likely to boost the nutraceutical market growth over the forecast years. Positive outlook towards medical nutrition owing to increasing weight management programs, along with cardiovascular diseases, is anticipated to propel the demand for nutraceuticals.

The rise and evolution of wellness focused diets, such as keto and paleo, are driving food producers to cater their products in this direction. Functional food products, such as probiotics and omega-3, are highly used in yogurt and fish oils in order to reduce the risk of cardiovascular diseases and develop the quality of intestinal microflora, which is further projected to fuel the market growth of the nutraceutical products over the coming years.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/nutraceuticals-market

Further key findings from the study suggest:

  • Based on functional food product, prebiotics and probiotics are projected to expand at a CAGR of 10.1% over the forecast period owing to increasing usage of probiotics as a primary ingredient among majority of food manufacturing companies to provide better nourishment and reduce health problems caused by harmful bacteria
  • Vitamins and minerals together accounted for over 40.71% share in 2019 owing to increasing consumer interest in the relationship between diet and health, which, in turn, has increased demand for these products
  • In terms of dietary supplement product, vitamins emerged as the largest segment in 2019, and is expected to expand at a CAGR of 5.8% in the coming years
  • In terms of product, functional food accounted for the largest share in 2019 and generated revenue of USD 187.51 billion. Rising healthcare costs, coupled with growing geriatric population across the world, are anticipated to drive the functional food segment over the forecast period
  • Asia Pacific is expected to witness the fastest growth over the forecast period. Expansion of the retail chain in countries, such as India, Japan, and China, has increased the consumption of dietary supplements and functional foods in this region
  • The nutraceuticals industry represents a highly competitive landscape. Key players dominate the nutraceutical market space and have been focusing on various strategic initiatives, including mergers & acquisitions, product innovation, and portfolio expansion
  • Key market participants include Cargill, Incorporated, Archer Daniels Midland Company, DuPont, Nestle S.A, Danone, General Mills, Innophos, WR Grace, and Amway Corporation.