Nutraceuticals are elements with physiological perks and capabilities to protect from chronic diseases. These products are derived from food sources comprising both nutrition & medicinal abilities and can improve overall health, delay aging, extend life expectancy, and even support the structure & functioning of the body. Based on these aspects, nutraceuticals are also extensively used in the prevention & treatment of mental health issues & disorders among people and gaining swift traction across different countries in the GCC.
The GCC Nutraceuticals Market is projected to grow at a CAGR of around 9% during the forecast period, i.e., 2022-27. The market growth is driven by the growing awareness among people about the need to keep balanced health, demonstrating a higher consumer preference for functional foods & supplements like nutraceuticals. In addition, active lifestyle and modern-day issues like obesity & diabetes due to improved lifestyle eating habits are also demonstrating an upsurge in the demand for nutraceuticals across the GCC.
|Study Period||Historical Data: 2017-20|
|Base Year: 2021|
|Forecast Period: 2022-27|
|Country Covered||UAE, Saudi Arabia, Bahrain, Oman, Qatar, Kuwait|
|Key Companies Profiled||Pfizer Inc, Bayer AG, Vitabiotics Ltd, Perrigo Company PLC, Nestlé SA, Danone, BASF S.A., PepsiCo Inc, General Mills, Almarai Co Ltd|
|Unit Denominations||USD Million/Billion|
In the same view, increasing the utilization of these elements in diet to address & treat cardiovascular disorders & malnutrition is another prominent aspect stimulating the industry. It, in turn, is also generating growth opportunities for the leading players to increase their production & distribution capacities to cater to the burgeoning demands throughout GCC.
Besides, skyrocketing healthcare costs and the mounting geriatric population shall also demonstrate a higher inclination toward functional food & supplements like nutraceuticals to fulfill the unmet nutrient needs in the body. Such changes in the consumer's attitude toward these foods to attain health & wellness benefits like improved bowel movements, cleansing of internal organs, higher retention & passage of nutrients into cells, enhanced blood clotting, and other functions, are positively influencing the overall market growth across GCC.
Moreover, as people are increasingly consuming herbal medicines to mitigate the use of conventional drugs, the demand for nutraceuticals is set to rise and boost market expansion and also generate lucrative opportunities for the platers through 2027.
Key Trends in the GCC Nutraceuticals Market
As people are becoming more aware of the availability & perks of nutraceuticals on health, trends like customization & personalization of these elements are gaining swift popularity. People are propelling the demand for nutraceuticals designed particularly to cater to their health and fulfill all their unmet needs. Additionally, many consumers are also showing interest in customized offerings, including supplements, diet, & exercise. Moreover, as nutritional supplements are emerging as a crucial intervention in prognostic & proactive health, their demand & acceptance across the GCC shall support a steady growth of the nutraceuticals market in the coming years.
Based on the Product Type:
Here, Functional Food acquired the largest share of the GCC Nutraceuticals Market in recent years & is anticipated to prevail in its dominance in the coming years. Among all, Probiotics Fortified Food is anticipated to demonstrate the fastest growth pace in the market during the forecast period. This growth attributes to the growing consumer awareness about the availability & perks of consuming functional foods like probiotics to balance health & have better digestion & absorption of nutrients.
Particularly after the advent of the Covid-19 pandemic, people are demonstrating a greater inclination toward diet & weight management to attain a robust immune system, using Probiotics Fortified Food. This aspect is significantly influencing the sales of such products and driving the market across GCC through 2027.
On the other hand, Function Beverages are anticipated to make a significant contribution to the expansion of the GCC Nutraceuticals Market, where Sports Drinks are anticipated to gain swift popularity and generate lucrative opportunities for the players during the forecast period. It owes principally to the growing health consciousness among people, encouraging them to show greater involvement in sports activities. It, in turn, is also augmenting the demand for sports drinks, particularly among athletes & individuals involved in energetic physical activities.
As a result, the demand for nutraceuticals in such functional drinks is escalating and positively influencing the overall market growth. Besides, the millennial generation is among the prominent consumers of sports drinks and is demonstrating high buying capacity with their willingness to pay for health products, alongside their developing interest in sports & fitness activities, thereby augmenting the overall market growth through 2027.
Based on the Distribution Channel:
Between the two, Non-Store based channels like Online platforms are anticipated to gain swift momentum and demonstrate the fastest growth pace in the GCC Nutraceuticals Market during the forecast period. This expansion attributes to the growing government encouragement across different countries in the GCC for digitalization, instigating prominent companies to make a paradigm shift to online sales channels and widen their reachability & consumer base for nutraceuticals in the region.
Besides, the high internet penetration and online platforms becoming a prominent source for shopping among people in the GCC, the companies see these platforms as an opportunity area. Moreover, as online channels offer an extensive range of products, different varieties, brands, and budgets, alongside facilities like door-step delivery, easy finances, and exciting deals, among others, the sales of nutraceuticals are set to escalate and drive the market during the forecast period.
On the geographical front, the GCC Nutraceuticals Market expands across:
Here, Saudi Arabia dominated the market with the largest share in the previous years and is anticipated to prevail in the same trend during the forecast period. This expanding dominance attributes to the high number of cases registering the prevalence of obesity & hypertension among people, up-surging the demand for nutraceuticals to address such issues.
Besides, the growing health consciousness among people and their awareness about the availability & perks of nutraceuticals is also augmenting its demand across the country and instigating the local manufacturers to increase their production & distribution capacities and cater to the burgeoning requirements throughout Saudi Arabia.
With the growing awareness among people about the need to have a balanced diet to attain good health, the demand for nutraceutical products is mounting astronomically across different countries in GCC. Besides, hectic lifestyle & improper eating habits of the people are also showing their inclination toward nutraceuticals to fulfil the unmet nutrient needs and address lifestyle-based health disorders like obesity & cardiovascular diseases, among others, thereby shall certainly augment the growth of the nutraceutical market over the forecast period.
Despite the growing acceptance & popularity of nutraceutical foods, factors like the high prices of these elements might restrain consumers from buying these products and hamper the fledged market growth. Besides, the prevalence of pharmaceuticals forces consumers is further demonstrating a consumer shift from functional products to these low-cost drugs.
Key Questions Answered in the Market Research Report:
Frequently Asked Questions
A. The GCC Nutraceuticals Market is projected to grow at a CAGR of around 9% during 2022-27.
A. “Functional Beverages” are anticipated to emerge as an area of remunerative opportunities for the leading players in the GCC Nutraceuticals Market during the forecast period.
A. The leading players in the GCC Nutraceuticals Market are Pfizer Inc., Bayer AG., Vitabiotics Ltd., Perrigo Company PLC., Nestlé SA., Danone, BASF SA., PepsiCo Inc., General Mills, and Almarai Co Ltd, among others.
A. Saudi Arabia would offer substantial growth prospects in the GCC Nutraceuticals Market during 2022-27.
A. High cost of nutraceuticals than pharmaceuticals might restrain the fledged growth of the CC Nutraceuticals Market during 2022-27.