Nutraceuticals Market size is expected to reach USD 991.09 billion by 2030
Nutraceuticals Industry Overview The global nutraceuticals market size was valued at USD 454.55 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 9.0% from 2021 to 2030. The growing demand for dietary supplements and functional food is expected to be a key driving factor for the market over the forecast period. A favorable outlook towards medical nutrition in light of the increasing application for the treatment of cardiovascular disorder and malnutrition is likely to stimulate the growth of dietary supplements. Rising healthcare costs, coupled with the increasing geriatric population across the world, are anticipated to assist the global functional food industry growth over the forecast period. Consumers’ attitude is observed to be very positive towards functional foods mainly on account of the added health and wellness benefits offered by these products. The rising geriatric population, increasing healthcare costs, changi...