Nutraceuticals Market Size

Nutraceutical Market Future Prospects

The global nutraceutical market will generate an estimated revenue of USD 348.7 billion in 2024, which is expected to witness a CAGR of 9.8% during 2024–2030, to reach USD 609.8 billion by 2030. The rise in the prevalence of chronic and non-communicable diseases is the major driver for the market.

The global report of the World Health Organization shows that noncommunicable diseases (NCDs) are the reason for the demise of 41 million people each year, which is 74% of all deaths globally.

Baby Boomers (born between 1946 and 1964) make up a considerable share of the world’s population, and due to their high risk for chronic or non-communicable diseases, they make a large contribution in the growth of the market. This is because they heavily consume these products to fulfill their needs for daily nutrition, as well as boosting immunity.

People in the fast-paced urban world, who have a hectic schedule, often seek an effortless way to meet their need for daily nutrition. This has driven the population toward nutraceuticals, be it food-based, water-based, or pill-based supplementary edibles.