The global nutraceutical market was $142.1 billion in 2011 and is expected to reach $204.8 billion by 2017, growing at a rate of 6.3 percent, according to a study from Transparency Market Research. According to the study, Nutraceuticals Product Market: Global Size, Segment and Country Analysis & Forecasts (2007-2017), the Asia-Pacific market (including Japan) is expected to have the second-largest market share after North America by 2017.
In 2011, the functional food and beverage market reached $93 billion, registering a growth rate of 6 percent from 2007 to 2011. North America enjoyed the highest market share for nutraceutical products at $56.4 billion in 2011.
The global nutraceutical market is predicted to have a growth rate of 6.6 percent in the protein and peptides segment of the dietary supplement market during the forecasted period (2012-2017). The non-herbal segment of the dietary supplement market is expected to have a growth rate of 6.3 percent from 2012 to 2017. The omega fatty acid, fortified food segment of the functional food market is expected to have a growth rate of 6.7 percent through the forecast period, says the study.
The North America and Asia Pacific nutraceutical market is expected to have a market share of 39.2 percent and 30.4 percent respectively in 2017. The dietary supplement market is expected to be the fastest growing market from 2012 to 2017 as it helps in improving the body’s ability to heal and protect itself, according to the study.
The Asia Pacific nutraceutical market is still emerging in dietary supplements and functional foods. Japan is the largest consumer of nutraceuticals. China is the second-largest consumer of nutraceuticals due to the facts people there are now more conscious of their food habits, and China has the largest population in the world
For more information on the study, visit Transparency Market Research’s website or call 866-552-3453.