The UAE Nutraceuticals Market is expected to grow at a CAGR of around 6.96% during the forecast period of 2022-27, says MarkNtel Advisors in their recent research report. The demand for nutraceutical products has grown considerably across the UAE, owing to the growing concern among consumers regarding health consciousness, changing lifestyles as well as increasing disposable income. Moreover, the rising inclination of the millennial population toward physical & fitness-related activities & willingness to pay for healthier alternatives is anticipated to augment the nutraceuticals market in the region.
In addition, rising incidences of chronic diseases such as diabetes & obesity, a growing vegan population, and increased investment by companies in awareness campaigns targeting customers via social media platforms are factors contributing to the market's growth. Further, the rising number of gyms & sports clubs in the country are providing adequate information regarding the consumption & health-related benefits of nutraceuticals in everyday life through industry experts & specialized nutritionists. As a result, there is a favorable trend in the region toward the nutraceuticals products in the region.
Besides, various established as well as start-up companies in the UAE, are expanding product portfolios & offering a wide array of brand choices with additional benefits to the consumers. In 2021, Century Pacific Food launched its ‘Birch Tree Probiotic brand to promote good digestion, with over 9 billion good bacteria in each bottle. Therefore, with the increasing health consciousness & awareness regarding the soaring non-communicable ailments, the launch of new products would soar the nutraceuticals market during 2023-2027.
Dietary Supplements to Flourish the Nutraceutical Market in the UAE
Based on the product type, the market divides into Dietary Supplements, Functional Foods, and Functional Beverages. Of them, Dietary Supplements hold a major revenue share in the UAE Nutraceutical market on account of growing health consciousness due to the prevalence of health-related issues, such as cardiovascular ailments, diabetes, and hypertension, among others. Moreover, the chilling impact of the COVID-19 pandemic sparked concerns about immunity in the region, encouraging the demand for dietary supplements. Furthermore, during the historical years, the nutraceuticals such as probiotic dietary supplements, herbal dietary supplements, etc., have grabbed a sizeable market position in the country.
In addition, the growing concern for healthy digestive systems among the population of the UAE has propelled the commercial sales of nutraceutical products. Besides, the prevalence of gastrointestinal disorders among the citizens of the UAE has increased the consumption of dietary supplements due to its several digestive health benefits, such as suppressing gut inflammation issues, reduction in constipation problems, etc. Therefore, following up the trend of keeping a healthy digestive system among the consumers of the UAE would prevail in demand for dietary nutrition supplements in the forecast years, hence driving the UAE Nutraceuticals market.
Animal-based Products Held a Significant Share in the UAE Nutraceuticals Market
Based on the source, the market bifurcates into Plant, Animal, and Microbial. Among all, Animal-based nutraceuticals products grabbed a significant market share in the UAE Nutraceuticals market during the historical period, 2017-21. The major factor contributing to the growth of the segment is the increase in the consumption of animal-based products in the region, as it offers a wide variety of micronutrient benefits that are difficult to find in plant-based nutraceuticals products. Thus, it is projected that the rising demand for supplements with adequate nutritional value, would escalate the Animal-based Nutraceutical market in the foreseen years.
However, micro- and plant-based sources are also expected to have a reasonable growth during 2023-2027, owing to the rising inclination toward vegan diets & probiotic supplements. Further, increasing demand for plant-based foods & beverages products, due to a surging lactose intolerance populace would also propel the market growth during the forecasted years.
Key Competitors
According to MarkNtel Advisors, the leading players in the UAE Nutraceuticals Market are Pfizer Inc., Bayer Middle East FZE, Vitabiotics Ltd., Nestlé UAE L.L.C., Danone, BASF FZE, PepsiCo Inc., General Mills Inc., Nature's Way Products, LLC., and Abbott Laboratories S.A.
Key Questions Answered in the Study
Market Segmentation: