Nutraceutical is a combination of nutrition and pharmaceuticals. So when we are talking about nutraceuticals it means any food or part of food that apparently provides medicinal or health benefits, including the prevention and treatment of disease.
A nutraceutical may be a naturally nutrient-rich or medicinally active food, such as soybean or garlic, or it may be a specific component of a food such as the omega-3 fish oil that can be derived from salmon and other cold-water fish.
The MENA nutaceuticals market is estimated to value at USD 8.6 billion in 2014 and expected to grow a CAGR of 7.1% during forecast period of 2015–2020. Retails and pharmacy development, advancement in product offerings are some of the prominent factors driving the demand for nutraceuticals products in the region.
In GCC nutraceuticals is consumed highest in the age group of 0-10 years to attain proper growth of developing body. But, it has been found that ageing population also demand for nutraceuticals products due to healthy ingredients used in the nutraceuticals
Geographically, GCC is the dominant market for nutraceuticals in MENA and likely to grow at a fastest pace compared to other region followed by rest of Middle East. This growth is attributed by the Increasing aging population, increase in per capita income in the region.
Proactive lifestyle is driving increasing acceptance for nutraceuticals across the region. Furthermore, growing consumer demand for healthy food is also expected to drive the nutraceuticals market in MENA.
Some participants in the MENA nutraceuticals market continue to focus on acquisition and partnership in order to enter new market and enhance existing portfolio. Some of the key players in MENA nutraceuticals market are BASF SE, Danone, Nestle SE, Arla Foods, Amway, General Mills and Kellogg’s
The MENA nutaceuticals market is segmented on the basis of product type and region. On the basis of product type the market is segmented into dietary supplement, functional food and functional beverages. Dietary supplement is the largest segment in terms of market share and revenue in 2014. However, functional beverages is anticipated to witness highest growth rate during the forecast period with a CAGR of 7.3%.
Dietary supplement segment is sub-segmented into vitamins & minerals supplement, herbal supplement and protein supplement. Further, functional food segment is sub-segmented into Omega fatty acid fortified foods, probiotic fortified food, branded iodised salt and branded wheat flour market.
In 2014, functional food segment accounted for 35.1% of the market share and is expected to witness a decline in its market share by 20 BPS in 2020. Lastly, functional beverages segment is sub-segmented into energy drink, fruit drink, health drink and enhanced water.
Among all the sub-segments of functional beverages energy drink is expected to exhibit highest growth rate during the forecast period closely followed by health drink. In addition, energy drink is expected to show a increase of 30 BPS in 2020.
The market will grow at a 7.1% CAGR through 2032.
The market is expected to reach USD 19.59 billion by 2032.
The market will surpass USD 9.86 billion in 2022.
GCC is the dominant market in the region
Table 1: MENA Nutraceuticals Market Size and Forecast By Product Type, 2013–2020 (US$ Bn)
Table 2: MENA Nutraceuticals Market Size and Forecast By Region, 2013–2020 (US$ Bn)
Table 3: GCC Nutraceuticals Market Size and Forecast By Product Type, 2013 to 2020 (US$ Bn)
Table 4: North Africa Nutraceuticals Market Size and Forecast By Product Type, 2013 to 2020 (US$ Bn)
Table 5: Rest of Middle East Nutraceuticals Market Size and Forecast By Product Type, 2013–2020 (US$ Bn)
Figure 1: Global and MENA Y-o-Y Growth Comparisons by Food & Retail and Nutraceuticals (2014–2020)
Figure 2: MENA Nutraceuticals Market Size (US$ Bn) and Y-o-Y Growth (%), 2014–2020
Figure 3: MENA Nutraceuticals Market Absolute $ Opportunity (US$ Bn) 2013–2020
Figure 4: MENA Nutraceuticals Market Value Share By Distribution Channel, 2014
Figure 5: MENA Nutraceuticals Market Value Share By Distribution Channel, 2020
Figure 6: MENA Nutraceuticals Market Value Share and BPS Analysis By Product Type, 2014 & 2020
Figure 7: Dietary Supplement Market Size (US$ Bn) and Y-o-Y Growth (%), 2014–2020
Figure 8: Dietary Supplement Market Absolute $ Opportunity (US$ Bn), 2013–2020
Figure 9: Dietary Supplement Market Size & Forecast By Sub-segments (US$ Bn), 2013–2020
Figure 10: Dietary Supplement Market Share By Sub-segments (%), 2013–2020
Figure 11: Functional Food Market Size (US$ Bn) and Y-o-Y Growth (%), 2014–2020
Figure 12: Functional Food Market Absolute $ Opportunity (US$ Bn), 2013–2020
Figure 13: Functional Food Market Size (US$ Bn) & Forecast By Sub-segments, 2013–2020
Figure 14: Functional Food Market Share By Sub-segments, 2013–2020
Figure 15: Functional Beverages Market Size (US$ Bn) and Y-o-Y Growth (%), 2014–2020
Figure 16: Functional Beverages Market Absolute $ Opportunity (US$ Bn), 2013–2020
Figure 17: Functional Beverages Market Size (US$ Bn) & Forecast By Sub-segments, 2013–2020
Figure 18: Functional Beverages Sub–segments Market Share By Sub-segments, 2013–2020
Figure 19: MENA Nutraceuticals Market Attractiveness By Product Type, 2014
Figure 20: MENA Nutraceuticals Market Size and Forecast By Region, 2014, 2015 & 2020 (US$ Bn)
Figure 21: MENA Nutraceuticals Market Value Share and BPS Analysis By Region, 2014–2020
Figure 22: GCC Nutraceuticals Market Size (US$ Bn) and Y-o-Y Growth (%), 2014–2020
Figure 23: GCC Nutraceuticals Market Absolute $ Opportunity (US$ Bn), 2013–2020
Figure 24: GCC Nutraceuticals Market Value Share and BPS Analysis By Product Type, 2014 & 2020 (%)
Figure 25: North Africa Nutraceuticals Market Size (US$ Bn) and Y-o-Y Growth (%), 2014–2020
Figure 26: North Africa Nutraceuticals Market Absolute $ Opportunity (US $ Bn), 2013–2020
Figure 27: North Africa Nutraceutical Market Value Share and BPS Analysis By Product Type, 2014 & 2020 (%)
Figure 28: Rest of Middle East Nutraceuticals Market Size (US$ Bn) and Y-o-Y Growth (%), 2014–2020
Figure 29: Rest of Middle East Nutraceuticals Market Absolute $ Opportunity (US$ Bn), 2013–2020
Figure 30: Rest of Middle East Nutraceuticals Market Value Share and BPS Analysis By Product Type, 2014 & 2020 (%)
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