Nutraceutical Market Sweetening To $176.7 Billion
Wed, 11/19/2008 - 6:48am
According to a new technical market research report, "Nutraceuticals: Global Markets And Processing Technologies" from BCC Research, the global market for nutraceuticals was worth $117.3 billion in 2007. This is expected to increase to $123.9 billion in 2008 and reach $176.7 billion in 2013, boasting of a compound annual growth rate (CAGR) of 7.4 percent. (Click here to view the chart.) The market is broken down into nutraceutical foods, beverages and supplements:
- Nutraceutical foods were the largest market segment in 2007 worth $39.9 billion. This is expected to increase to $40.6 billion in 2008 and $56.7 billion in 2013 for a CAGR of 6.9 percent.
- Nutraceutical supplements have the second largest market share, generating $39.0 billion in 2007 and an estimated $40.5 billion in 2008. This segment should reach $48.8 billion in 2013 with a CAGR of 3.8 percent.
- The nutraceutical beverages segment represents the fastest growing segment, and is expected to have the largest share of the market by 2013. This segment was worth $38.4 billion in 2007, and is expected to increase to $42.8 billion in 2008 and $71.3 billion in 2013 for a CAGR of 10.8 percent.