The nutraceuticals market, otherwise known as functional foods, has become an area of significant potential growth, with the latest data revealing that the market is estimated to grow to a value of 404.8 billion by 2025, at a compound annual growth rate of 7.2 percent.
Drivers of this growth include an increased geriatric population, rising chronic illness, and increased consumer awareness around the benefits of nutraceutical products.
On-the-go snacking is the most significant growth contributor to the food segment for functional foods and nutraceuticals, with functional ingredients including protein-rich elements, dry nuts, and grains.
Improved nutritional, texture and shelf-life of snacks, including the uptake of vitamins, minerals, proteins, dietary fibres, and fatty acids within the snacking options, are expected to increase and propel the market forward.
The Asia-Pacific region is expected to experience the fastest growth in the nutraceuticals products market, as convenience food consumption has significantly increased in this region, in conjunction with rapid economic growth in many areas of the region, resulting in increased demand for fortified nutritional food and beverage products.
