The global nutraceuticals market has been forecast to reach a projected market value of US$250 billion by 2018, driven primarily by the growing affinity among the general populace towards adopting a healthy lifestyle.
Additional factors fuelling demand within the nutraceuticals market include higher disposable income in developing regions; evolution of innovative products, particularly for the beauty care segment; and emerging opportunities in other newer areas.
The US represents the largest region within the nutraceuticals market, followed by Europe and Japan. Developing markets are expected to pitch in to drive future growth in both the production and consumption of nutraceuticals, given the rapid pace of development of food and beverage, pharmaceutical, and nutritional industries in BRIC nations (Brazil, Russia, India, and China), Mexico, Poland, and South Korea.
Intense competition prevails in the nutraceuticals market, with the industry continuing to witness large players from the food and pharmaceutical arena acquiring small companies to mark an entry into the market.
Competition within the nutraceuticals market is driven by several factors, including price, safety and efficacy issues, packaging, brand loyalty and others.
Key players within the nutraceuticals market includeArcher Daniels Midland Company, GlaxoSmithKline Plc., Groupe Danone, Ocean Nutrition Canada, Pfizer Nutrition, and Perrigo Company, among others.
For more information on the global nutraceuticals market, see the latest research: Global Nutraceuticals Market Report
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