Spain Nutraceuticals Market Research Sales, Revenue, and Growth Potential 2023-2030

1. Spain Nutraceuticals Market Research: Spain Nutraceuticals Market Research: Sales, Revenue, and Growth Potential Sales, Revenue, and Growth Potential 2023 2023- -2030 2030 The nutraceuticals market in Spain is poised for substantial growth, expanding at a favorable compound annual growth rate (CAGR) over the forecast timeline. Nutraceuticals offer a wide range of health benefits that contribute to overall well-being and immune system support. The increasing consumer awareness of the convenience, flexibility, and various health advantages of dietary supplements is a significant factor driving the growth of the nutraceuticals market in Spain. Read More: https://www.fairfieldmarketresearch.com/report/nutraceuticals-market The global nutraceuticals market is on track to achieve a valuation of US$1 trillion by 2030, with a projected compound annual growth rate (CAGR) of 9.5% over the forecast period, according to a recent market analysis. The nutraceuticals industry has experienced sustained growth in recent years, which has been further accelerated by the impact of the COVID-19 pandemic. Nutraceuticals provide a wide range of health benefits that support overall well-being and boost immune systems, driving their increased demand. With a growing awareness among consumers about the convenience, flexibility, and health advantages offered by dietary supplements, this trend is expected to continue in the years ahead. The pandemic underscored the importance of maintaining a strong immune system, further benefiting the nutraceuticals industry. Personalized nutrition has also played a significant role in driving demand for nutraceutical products, according to studies conducted by Fairfield Market Research. Key Findings of the Report: 1.The nutraceuticals market was valued at US$355.8 billion in 2019. 2.Between 2023 and 2030, the industry is projected to achieve a healthy CAGR of 9.5%. 3.The COVID-19 pandemic has been a major growth booster for the market. 4.Dietary supplements are expected to remain the top-selling category, while the sales of functional foods and beverages are also expected to increase. 5.North America is expected to maintain its dominant position in the nutraceuticals landscape by the end of 2030. Growth Drivers:

2. Higher Prevalence of Chronic Diseases and Increasing Sales of Dietary Supplements The rising incidence of chronic diseases has led to increased awareness of the potential health benefits offered by nutraceuticals. The recommendation of dietary supplements for geriatric individuals further contributes to market growth. Nutritional fortification of food and beverage products and the increasing profiling of these applications also contribute to the projected revenues of the nutraceuticals industry. The demand for dietary supplements in infant nutrition products and the dietary lifestyles of new mothers are additional factors driving market growth. The increasing popularity of single and multi-vitamin supplements is expected to contribute to the expansion of the global nutraceuticals market. Growing Demand for Functional Products Consumers are increasingly conscious of their health and actively seek natural, reliable, affordable, and easily accessible products. Functional foods and nutraceuticals are expected to experience significant growth in the coming years. In the wake of the COVID-19 pandemic, individuals are focusing on improving their overall health and immunity through functional food options and their nutritional benefits. The primary ingredients of nutraceuticals and functional foods include essential nutrients, herbs, and dietary supplements, which help combat various ailments and improve users' quality of life. Nutraceutical manufacturers and marketers are implementing innovative strategies to educate consumers about the advantages and uses of their products in medical treatments and preventative healthcare applications. They are also prioritizing higher product quality standards, transparency, and competitive pricing. Challenges: Lack of Clarity on Daily Recommended Intake Among Consumers While counterfeit supplements pose a significant threat in the market, a major challenge for the nutraceuticals industry is the lack of clarity among consumers regarding the recommended daily intake of nutritional supplements. Consumers, especially those in rural and semi-urban areas, are often hesitant to use nutraceutical products, perceiving them as prescription medication. To address these concerns, supplement manufacturers are focusing on developing alternative formulations such as gummies and soft chews. However, these formulations are still relatively new in the global market, limiting their growth prospects. Key Segments: Dietary Supplements Remain Dominant in Terms of Sales Dietary supplements hold the largest market share, accounting for more than 38% of overall sales. Protein, vitamin, amino acids, and Omega-3 supplements have seen consistent year- over-year growth, contributing to the dominance of this segment. The functional foods and beverages category has also witnessed significant growth, driven by the positive perception of their health benefits. Functional food and beverages together account for over 60% of total sales in the nutraceuticals market. Regional Growth Opportunities: North America Maintains Leadership Position

3. North America currently leads the global nutraceuticals market and is expected to maintain its dominant position throughout the forecast period. The region holds over 30% of the market share as of 2022, followed by Europe and the Asia Pacific. Lifestyle changes and the adoption of unhealthy habits have led to an increased prevalence of health disorders, driving the demand for healthier food products and raising consumer concerns about their health. These factors are expected to drive the nutraceuticals markets in North America and Europe. The Asia Pacific region is projected to experience the fastest growth rate in the coming years. Competitive Landscape and Key Players: The global nutraceuticals market is highly competitive, with a diverse range of local and international manufacturers. Many industry players have established extensive production facilities in various countries to gain a competitive edge. Key players in the market include BASF Corporation, Cargill Inc., DSM, Lonza, Corbion, Ingredion Incorporated, Archer- Daniels-Midland Company, Friesland Campina, Kerry PLC, and Olam International Ltd. These companies engage in mergers, acquisitions, and strategic partnerships to strengthen their market presence. Recent Notable Developments: •BASF signed an agreement with Xerion Limited in June 2018 to capitalize on the personalized nutrition trend in the Asia Pacific region. •Remedy Organics launched a new range of functional beverages called Golden Mind in June 2019, which includes DHA nutraceutical ingredients derived from sustainably sourced microalgae. •Nestlé NIDO 3+ introduced an improved recipe in April 2021, tailored to meet the nutritional needs of children aged three to five years in South Africa. •PepsiCo's Rockstar Energy brand launched a hemp-infused drink called Rockstar Unplugged in the United States in February 2022. •Kellogg's Special K released new Protein Snack Bars in June 2022, offering 6g of protein and 90 calories. Trending Reports: https://issuu.com/fairfieldmarket/docs/japan_gas_insulated_transformer_market_to_be nefit_/s/26828790 For further details, please visit www.fairfieldmarketresearch.com. Contact Fairfield Market Research London, UK UK +44 (0)20 30025888 USA (Toll-free) +1 (844) 3829746