Nutraceuticals Market Report 2019-2024
These nutrients also help in averting medical conditions like diabetes, hypertension, allergies and heart diseases.
By: Bharat Book Bureau
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Due to the prevalence of lifestyle diseases and the growing geriatric population, consumers across the globe are becoming health-conscious. They are now shifting from chemically derived products to preventive healthcare items like nutraceuticals that contain safer, natural and healthier ingredients. Further, the industry has attained maturity in developed economies like the United States. As a result, international manufacturers are now diversifying their businesses to developing regions so as to expand their consumer base. This shift is further being facilitated by rapid urbanization, increasing western influence, growing middle-class population and inflating income levels of consumers in these countries. Apart from this, the thriving e-commerce industry, in confluence with rising consumer awareness, is also contributing to the growth of the nutraceuticals market. Looking forward, the market is projected to reach a value of US$ 403 Billion by 2024, growing at a CAGR of around 7% during 2019-2024.
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