According to the Market Statsville Group (MSG), the Global plant-based nutraceuticals Market size is expected to project a considerable CAGR of 8.7% from 2024 to 2033.
The market for plant-based nutraceuticals is growing rapidly due to the growing trend of consuming healthy food products, more and more people’s demand for natural and organic products, and the adverse effects of synthetic supplements. Another characteristic of market growth comes from veganism/vegetarianism and plant-based diet trends. Eventually, by the year 2024, the market is estimated to reach billions of dollars, and by the following decade, it is expected to grow even more. There is also a growing interest in health and beauty, which results in the demand for nutraceuticals to support specific health concerns. Plant-based products are considered more environmentally friendly than those products, that contain animal products which is in line with the campaign for environmental conservation. Many plant-based nutraceuticals are known to have health benefits such as boosting the immune system, digestion, and reducing inflammation, among others. Herbal supplement products with such components as turmeric, ginger, and ginseng are popular due to their ability to act as anti-inflammatory and antioxidants. Spirulina, chlorella, and acai berries are some of the fittest superfoods, which are fundamental for their nutritional value and health-promoting abilities.
Furthermore, plant-based probiotic supplements are also high in demand. Such supplements help in supporting gut health. There is a growing demand for pea, hemp, and soy-based protein powders and supplements. Consumers are now opting for personalized nutrition; they are looking for supplements that can fix specific health issues that they believe. Consumers are calling for more transparency in the sourcing of ingredients and the process by which the product is manufactured. Plant-based ingredients could prove difficult to keep pure and potent because of the tremendous volumes of products entering the market that can make differentiation extremely challenging. Consumer education about the benefits and appropriate consumption of plant-based nutraceuticals will be the next big step toward market growth. The market for plant-based nutraceuticals is expected to continue along its upward trajectory, as interest in health, sustainability, and natural products will be continually sustained among consumers. Innovation in the product development process, availability, and awareness are most likely to fuel further expansion in the field.
Plant-Based Nutraceuticals, on the other hand, are food products, products obtained from plants that have a positive value in addition to their nutritive worth in supporting human health. They are meant to enhance well-being, help in disease prevention, or provide for certain illnesses. The term “nutraceuticals” is derived from combining nutrition and pharmaceuticals because such products are somewhere in between food and drugs.
Health Consciousness refers to a growing awareness and proactive attitude towards maintaining and improving one’s health and well-being. This includes a series of behaviors, attitudes, and choices that reflect a better lifestyle to achieve healthy living. It has a major role in the expansion of plant-based nutraceuticals and other health-oriented products. Increased occurrences of chronic diseases, such as heart disease, diabetes, and obesity, have raised awareness regarding preventive measures and lifestyle. The rise in pandemics and other diseases has created the need for knowledge of global health concerns.
Moreover, a report by the Global Wellness Institute shows that the global wellness economy. The figure above represents an indication of how much people and societies invest in healthy lifestyles. Surging interest in plant-based diets and their associated health benefits has led to a huge market for plant-based nutraceuticals. Consumers are seeking natural products containing nothing artificial; thus, a sustainable practice is required. According to the Plant-Based Foods Association, plant-based foods sales in the U.S. totaled $8 billion in 2022, while having a high surging demand for plant-based foods, coupled with an elevated need for health-conscious diets. Improving health awareness has a strong association with growing interest in plant-based diets.
Quality control of products is an essential element in the plant-based nutraceuticals industry. It will ensure that everything delivered to the market is safe effective and of good quality. As more and more consumers seek health benefits through the use of plant-based nutraceuticals, maintaining high quality will be necessary for the credibility of the industry and the users' reliance. Quality control starts from choosing and authenticating the raw materials. This would involve sourcing plant-based nutraceuticals from suppliers who respect a good agricultural practice coupled with sustainability. An NIH report shows that about 70% of US dietary supplement manufacturers are certified GMP. GMP certification is crucial since it means manufacturers have to control quality to ensure safe and high-quality production products.
Additionally, GMP guidelines must be followed to ensure that all production steps, starting with the hygiene of equipment and employees, are clean. GMP ensures consistent production and control of quality in the product. To extract, formulate, and pack up the drug, specific SOPs must be launched for each of its steps. It helped to level out procedures and differences that may cause disturbances to the quality of the product. The NIH indicates that up to 30% of the herbal supplements sold in the market contain other people's adulterants or are misrepresented as having other ingredients. Authenticity testing is thus important in identifying such incidences, thus ensuring that the incidences are prevented. Due to the growing knowledge about nutraceuticals based on plants, consumers desire to know the quality and origin of products. This is so since it can instill trust and ensure credibility.
The study categorizes the plant-based nutraceuticals market based on product type, ingredient source, health benefit, and distribution channel area at the regional and global levels.
Based on the product type, plant-based nutraceuticals refer to a broad class of dietary supplements that originate from plant sources and offer health benefits beyond basic nutrition. These supplements address health concerns and support general well-being naturally. Echinacea is often used to boost the immune system and reduce the severity and duration of colds and other respiratory infections. Echinacea enhances the body's natural defense mechanisms by activating its active immunity through the enhancement of the activity of immune cells. The demand side of this sector grows rapidly because consumers are now enlightened about products that are being cited as natural health products. The most popular plant-based dietary supplements include curcumin in turmeric, echinacea, elderberry, and probiotics in plants. For instance, sales of spice turmeric increased by 15% in 2023 due to an increase in interest in curcumin, which has been identified to have anti-inflammatory activity, as revealed by NIH.
However, Some of these plant-based ingredients include elderberry. It is full of mighty antioxidants, and the berry itself is used for immune health while encouraging relief from symptoms occurring with the flu and colds. It contains compounds that may inhibit the replication of viruses. Astragalus is used in traditional medicine to enhance the immune response and combat fatigue. Astragalus is thought to support immune function and improve resistance to illness. A recent survey published by the Council for Responsible Nutrition reveals that 76% of US adults are using dietary supplements, and 40% of these users are looking to plant-based alternatives that are perceived to offer health benefits from natural sources.
Based on the region, North America stands as one of the biggest markets for the sales of plant-based nutraceuticals. Regionally, this market boasts of the maximum share in the U.S. and is also exhibiting steady growth in Canada. The booming health and wellness trend and the growing requirement for natural and organic products from consumers was what prompted the demand for such plant-based nutraceuticals, particularly in the form of dietary supplements and functional foods. Strong regulation with a commitment to high quality from the U.S. Food and Drug Administration and Health Canada also helps give the consumer confidence in these products. Popular plant-based supplements for immune support- elderberry, echinacea; digestive health probiotics; and energy matcha are purchased widely through e-commerce channels, as well as in health food and pharmacies.
The market of plant-based nutraceuticals is the major competitor and is very competitive in the market segment. The game is being played using partnerships, product launches, acquisitions, agreements, and growth in a bid to offer more lead space in the market. Marketing control strategies of most divisions of businesses are focused on extending their business internationally and building sustainable relationships.
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