A new Fact.MR study projects that the nutraceutical supplements market will account for around $80,700 million in 2019, according to a release.
Fact.MR says the growth can be attributed to increasing adoption of nutraceutical supplements as pharmaceutical alternatives, increasing healthcare costs and rising consumer preference for simple over-the-counter medicines, and significant R&D investments in identifying the role of nutraceutical supplements in health concerns such as obesity, cancer, cardiovascular diseases, diabetes and neurodegenerative diseases.
According to the data, demand for prebiotics and probiotics in supplement form is projected to register over 10% year-over-year in 2019. Vitamins and minerals supplements, the study found, will hold over 36% of the overall share of the supplement market in 2019, and consumption is expected to grow. Herbal supplements and protein and amino acid supplements are expected to register comparable market revenues.
Softgels are expected to remain the preferred form, projected to generate over a quarter of global revenues, according to the study, but capsules and tablets will grow nearly 10% year-over-year in 2019.
Unisex supplements, Fact.MR says, will continue to spearhead market revenues, while supplements for children will see a rising demand and impressive growth rate.
The nutraceutical supplements market is projected to grow at 7% CAGR during the forecast period 2018-2027.
A sample of the report can be requested here.