The nutraceuticals market is projected to grow by $223.56B from 2022 to 2027, at a CAGR of 8.46%, according to a report by Tachnavio.
The growing preference for personalized nutrition is a key trend in the market. Personalized nutrition is helpful for gut-related medical conditions. Hence, consumers are changing their diets to improve their health by opting for tailored nutritional solutions. Vendors are introducing specialized food products for such customers. The gradual adoption of prebiotic and probiotic food products by consumers will encourage companies to offer probiotic products. These factors will support nutraceuticals market growth during the forecast period.
The increasing cost of medical treatment is driving market growth. The growing burden of diseases directly increases overall healthcare costs, as patients have to spend on treatment, medicine, and hospitals. Thus, many people prefer nutraceuticals such as dietary supplements and fortified dairy products, which contain nutrients such as vitamins, proteins, carotenoids, fibers, polyphenols, and probiotics. This helps patients reduce frequent hospital visits and treatment, especially those who do not have access to advanced healthcare facilities. These factors will fuel market growth during the forecast period.