Market Definition
Nutraceutical products are non-specific biological supplements used to promote general well-being, control symptoms, and prevent malignant processes. It is a food or part of a food that provides medical or health benefits, including the prevention & treatment of disease. Saudi Arabia is one of the largest economies in the Middle East, with a sizeable population that attracts a large number of pharmaceutical & processed food companies to offer their respective products. Further, the increase in the adoption of nutraceutical supplements in the food products & beverages, along with the nutraceutical supplementation, would flourish the market in the coming years.
Market Insights
The Saudi Arabia Nutraceutical Market is projected to grow at a CAGR of around 6.71% during the forecast period, i.e., 2022-27, says MarkNtel Advisors in their recent research report. The Saudi Arabia Nutraceutical market expanded significantly during 2017-2021. The increasing awareness of consumers toward the health benefits of nutraceuticals as well as the food & beverages sector, including the nutraceuticals in the edible products, has been some of the key factors attributing to the growth of the nutraceutical market. Further, with the high intake of sugary & oily food products, along with comfortable lifestyle adoption, lifestyle-based diseases in the country have become widespread. These diseases include cholesterol, diabetes, blood pressure, cardiovascular diseases, etc., which have been some of the leading causes of death in the country.
| Report Coverage | Details |
|---|---|
| Study Period | Historical Data: 2017-20 |
| Base Year: 2021 | |
| Forecast Period: 2022-27 | |
| CAGR (2022-2027) |
6.71% |
| Country Covered | Central, East, West, South |
| Key Companies Profiled | Bayer Saudi Arabia, LLC, Vitabiotics Ltd., Nestlé Middle East & North Africa, Herbalife Nutrition Ltd., BASF Saudi Arabia Co. Ltd., PepsiCo Inc., General Mills Inc., Nature's Way Products, LLC., Abbott Saudi Arabia Trading LLC, Pfizer Saudi Limited Corporate, Others |
| Unit Denominations | USD Million/Billion |
Moreover, this phenomenon has significantly increased awareness among the netizens, thereby enhancing the adoption of healthy lifestyle practices, along with the adoption of healthy food in the diet, such as nutraceuticals as supplements. In 2020, according to the Saudi Health Ministry, around 37% of deaths in the Kingdom of Saudi Arabia were caused by cardiovascular disease. Besides, due to the high number of patients suffering from chronic illness, the demand for nutraceutical products is expected to witness a sizeable increase in the coming period.
Furthermore, the government of Saudi Arabia has taken a variety of initiatives to promote the health benefits of nutraceuticals. In 2018, the Saudi Food and Drug Authority (SFDA) launched its 'Healthy Food Strategy' in order to reduce the consumption of sugar, salt, and fat in food products. This initiative also includes placing a clear nutritional label on the products. Additionally, the companies that signed the pledge with the government were Kellogg’s Arabia & PepsiCo. International, Nestlé Middle East, Mars Saudi Arabia, Mondelez Arabia, Ferrero, Coca-Cola, Unilever, and Freeze Land.
Key Trend in the Market:
The various types of health or food supplements have been launched in the country over the last few years, according to the distinguished requirements of nutraceutical consumers. In addition, the growing adoption of nutraceuticals in Saudi Arabia has intended the companies to launch different types of dietary supplements. Besides, in 2020, the COVID-19 pandemic also caught the attention of nutraceutical providers in Saudi Arabia to develop dietary supplements due to concerns over the health illnesses caused by the virus. Further, the launched nutraceutical product aimed to boost the immune system of the customers, weight loss management, etc., in Saudi Arabia. For instance:
Significantly, the rising adoption of nutraceuticals in Saudi Arabia would motivate nutraceutical producers to innovate & launch different categories of dietary supplements as per the customer's requirements in the forecast years & it is also expected to attract the customers as per their needs.
Impact of COVID-19 on the Saudi Arabia Nutraceutical Market
In 2020, with the outbreak of the COVID-19 pandemic, the Nutraceutical market witnessed robust growth, owing to the major factors such as health awareness among consumers, demand for vitamins, adoption of healthy food practices, and an increase in physical activities among the population to increase immunity. Moreover, as good nutrition is directly associated with enhanced immunity, thus certain types of health supplements have also experienced a surge in popularity among consumers, such as Vitamin C, multivitamins, zinc, protein, omega-3, and probiotics. Additionally, the increase in health & fitness activities among the population of Saudi Arabia contributed immensely to greater demand for health supplements leading to a higher growth witnessed in 2020.
Besides, there was an increase in the sales of plant-based supplements in Saudi Arabia amid the coronavirus spread, as the consumers were slightly skeptical towards the animal-based supplements usage. Further, the nutraceuticals production facilities in the Kingdom of Saudi Arabia were impacted due to the supply chain constraints in March & June of 2020, as the country is highly dependent on the import of raw materials. However, the supply chain consistency was ensured due to the prompt response by the government agencies to ensure the constant supply of pharmaceutical & nutraceutical production in the country.
