LONDON—The global nutraceuticals products market is projected to exceed $207 billion by 2016, according to a new report from companiesandmarkets.com. The sector is being driven by demand for healthy food and beverage products, which presents growth opportunities in the functional food, beverages and supplement market.
According to the “Nutraceuticals: Global Markets and Processing Technologies" report, the functional foods segment is expected to reach $49 billion by the end of 2011 and be worth more than $67 billion by 2016, representing a growth rate of 6.4%. The nutraceuticals food market is the second-largest market, generating an estimated $49 billion in 2011 and $67 billion in 2016, for a CAGR of 6.4%.
Growth in the functional food and beverage market has been driven by consumer interest in healthy living, particularly from the younger demographic, although the ageing population also has been conducive to sector expansion. Factors restraining growth in the nutraceuticals segment include the time taken between concept and product launch, as well as the impact of false product claims, which have affected consumer confidence.
