GCC Nutraceuticals market is expected to grow at a CAGR of 9% during 2021-2026
This report provides comprehensive qualitative & quantitative insights on the market potential, key factors impacting the market growth, hotspots, & opportunities available for Nutraceuticals providers across the country.
Further, due to changes in lifestyle, diet, and physical activity patterns, there is a surging demand for a safe product that could fulfill essential nutrition for the body. However, the substantially increased costs of raw materials and R&D to offer new & unique products are the primary challenges that might hinder the market growth.
Impact of COVID-19
The sudden outbreak of the COVID-19 pandemic has boosted the growth of the GCC Nutraceutical Market as these products provide health and medical benefits to prevent several diseases. Moreover, nutraceutical products help boost immunity, which became the only essential amidst the coronavirus pandemic. Hence, the COVID-19 pandemic has brought the nutraceutical market into the spotlight as an effective cure.
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"GCC Nutraceuticals Market Analysis, 2021" provides comprehensive qualitative and quantitative insights on the market potential, key factors impacting the market growth, hotspots, and opportunities available for Nutraceuticals providers across the countries.
Moreover, the report also encompasses the key strategic imperatives for competitors' success and strategic factorial indexing measuring competitors' capabilities on 16 parameters, which will help companies formulate 'Go to Market' strategies and identify the blue ocean for their offerings.
Probiotic Fortified Food Will Grow Significantly
Based on the Product Type, the market segments into Dietary Supplements, Functional Food, and Functional Beverages. The Functional Food segment further bifurcates into Probiotics Fortified Food, Omega Fatty Acid Fortified Food, Branded Ionized salt, and Branded Wheat Flour.
Among these, the probiotic fortified food will gain popularity over the forecast period. The consumption of probiotic fortified foods helps in the improvement of intestinal health and immunity-boosting. Thus, it is becoming one of the crucial ingredients for various health & nutritional applications. Therefore, the probiotic fortified food segment contributes to the overall growth of the nutraceutical market, says MarkNtel Advisors in their research report "GCC Nutraceuticals Market Analysis, 2021."
According to MarkNtel Advisors, the major leading players in the GCC Nutraceuticals market are PepsiCo Inc, Bayer AG, Pfizer Inc, General Mills, Nestlé SA, Vitabiotics Ltd, Danone, Perrigo Company PLC, BASF S.A., Almarai Co Ltd.