UAE Nutraceuticals Market: Industry Size and Growth Trends [2028]...

UAE Nutraceuticals Market: Industry Size and Growth Trends [2028] Analyzed by TechSci Research

Posté 2024-07-02 05:57:20

Industry Key Highlights

According to the TechSci Research report, “UAE Nutraceuticals Market - By Region, Competition, Forecast, and Opportunities, 2028F”, the UAE Nutraceuticals market is projected to increase at an impressive rate during the forecast period of 2024-2028. The rising relevance of preventive healthcare among consumers has driven the demand for dietary supplements significantly. This trend, notably accelerated by the COVID-19 outbreak, has seen U.S. consumers incorporating multivitamins into their daily routines to meet their nutritional needs. As a result, this surge in demand is expected to propel the United States Nutraceuticals market over the forecast period of 2024-2028.

Browse market data Figures and an in-depth TOC on the "UAE Nutraceuticals Market”

The expansion of the functional food sector is anticipated to be supported by the growing senior population and increasing healthcare costs. Functional foods are highly regarded by consumers due to their added health and wellness benefits. Factors such as an aging population, rising healthcare expenses, changing lifestyles, innovative food products, and higher price expectations have all contributed to the overall growth of the sector.

Emerging Trends

The nutraceuticals market in the UAE is witnessing several emerging trends that are reshaping the industry landscape. One notable trend is the increasing consumer preference for plant-based and natural ingredients. Consumers are becoming more health-conscious and are seeking products that are free from synthetic additives and preservatives. This trend has led to a surge in demand for organic and natural nutraceutical products.

Another emerging trend is the growing popularity of personalized nutrition. Advances in technology and scientific research are enabling companies to offer customized nutraceutical solutions tailored to individual health needs. This trend is driven by the increasing awareness among consumers about the importance of personalized healthcare and the desire for products that cater to their specific requirements.

Drivers of Market Growth

Several factors are driving the growth of the nutraceuticals market in the UAE. One of the key drivers is the rising prevalence of chronic diseases such as diabetes, cardiovascular diseases, and obesity. According to the International Diabetes Federation, the UAE had one of the highest prevalence rates of diabetes globally as of 2019. The increasing health consciousness among consumers and the growing number of nutritionists and wellness coaches are also contributing to the market's growth.

Additionally, the UAE government's initiatives to promote health and wellness are playing a significant role in driving the demand for nutraceutical products. The Ministry of Cabinet Affairs has launched several national initiatives, such as the UAE Wellbeing Model for Residential Communities, Community Wellbeing Nutrition Program, and Community Program for Active Lifestyle, to encourage healthy eating habits and physical activity among the population. These initiatives are expected to further boost the growth of the nutraceuticals market in the UAE.

Market Segmentation

The UAE Nutraceuticals Market is segmented based on application, form, source, and distribution channel.

By Application

The market is categorized into Functional Beverages, Functional Food, and Dietary Supplements. The functional food and dietary supplements segment is expected to witness high growth in the UAE Nutraceuticals Market. This growth can be attributed to changing eating habits, the demand for functional food to support long-term dietary and lifestyle changes, and the increasing awareness of boosting the immune system through functional food and supplements.

By Form

The market is divided into liquid, tablets, capsules, powder, and others. The tablet segment is expected to drive market growth throughout the forecast period of 2024-2028. The easy availability of vitamins and supplements in tablet form, ease of storage, and convenience during transportation are key factors contributing to the growth of the tablet segment. The capsule segment is also anticipated to support market growth parallelly during the forecast period.

By Source

The market is categorized into plant, animal, and microbial sources. The animal segment is expected to hold the largest market share during the forecast period of 2024-2028. Animal-based nutraceuticals are rich in nutrients and provide essential nutrients such as lipids, proteins, nucleic acids, minerals, and carbohydrates. As a result, the animal segment is expected to support the growth of the UAE Nutraceuticals market throughout the forecast period.

Top 10 Companies in UAE Nutraceuticals Market

The UAE Nutraceuticals Market is characterized by the presence of several top companies that have a significant market share. These companies are:

1. Pfizer Inc.

o Founded: 1849

o Headquarters: New York City, New York, U.S.

2. Bayer Middle East FZE

o Founded: Late 1880s

o Headquarters: Dubai, United Arab Emirates

3. Vitabiotics Ltd.

o Founded: 1971

o Headquarters: London, England

4. Nestlé UAE L.L.C.

o Founded: 1997

o Headquarters: Jebel Ali Free Zone, Dubai

5. Danone

o Founded: 1919

o Headquarters: Paris, France

6. BASF MIDDLE EAST LLC & BASF FZE

o Founded: 1865

o Headquarters: Jebel Ali Free Zone, Dubai

7. PepsiCo Inc.

o Founded: 1965

o Headquarters: Harrison, New York, U.S.

8. General Mills Inc.

o Founded: 1928

o Headquarters: Minneapolis, Minnesota, U.S.

9. Nature’s Way Products, LLC

o Founded: 1968

o Headquarters: Green Bay, Wisconsin, U.S.

10. Abbott Laboratories S.A.

o Founded: 1888

o Headquarters: Green Oaks, Illinois, U.S.

These companies are focusing on strategies such as product innovation, mergers and acquisitions, partnerships, and collaborations to strengthen their market position and expand their product portfolio. Additionally, they are investing in research and development activities to introduce new and innovative nutraceutical products to meet the evolving consumer demands.

Future Outlook

The future outlook for the UAE Nutraceuticals Market is highly positive, with several growth opportunities on the horizon. The increasing focus on preventive healthcare, rising consumer awareness about the benefits of nutraceuticals, and the growing demand for functional food and dietary supplements are expected to drive market growth in the coming years.

Moreover, advancements in technology and scientific research are likely to lead to the development of new and innovative nutraceutical products. The trend towards personalized nutrition is also expected to gain momentum, with companies offering customized solutions tailored to individual health needs. Additionally, the UAE government's continued efforts to promote health and wellness are expected to create a favorable environment for the growth of the nutraceuticals market.

10 Benefits of the Research Report

Comprehensive Market Analysis: The report provides a detailed analysis of the UAE Nutraceuticals Market, including market size, growth trends, and key segments.
Industry Insights: The report offers valuable insights into the key drivers, challenges, and opportunities in the nutraceuticals market.
Competitive Landscape: The report includes a competitive analysis of major players in the market, their strategies, and market share.
Market Forecast: The report provides a forecast of the market growth for the period 2024-2028, helping businesses plan their strategies accordingly.
Emerging Trends: The report highlights the emerging trends in the nutraceuticals market, such as the growing preference for plant-based ingredients and personalized nutrition.
Government Initiatives: The report covers the UAE government's initiatives to promote health and wellness, which are expected to drive market growth.
Consumer Behavior Analysis: The report includes an analysis of consumer behavior and preferences, helping businesses understand the changing needs of their target audience.
Distribution Channel Analysis: The report provides an analysis of the various distribution channels for nutraceutical products, including retail stores, online platforms, and direct sales.
Market Segmentation: The report offers a detailed segmentation of the market based on application, form, source, and distribution channel.
Investment Opportunities: The report identifies potential investment opportunities in the UAE Nutraceuticals Market, helping businesses make informed investment decisions.

In conclusion, the UAE Nutraceuticals Market is poised for significant growth in the coming years, driven by the rising relevance of preventive healthcare, increasing consumer awareness, and government initiatives to promote health and wellness. With the presence of major players and the emergence of new trends, the market offers ample opportunities for businesses to expand and thrive. The comprehensive analysis provided in the research report will serve as a valuable resource for businesses looking to navigate the evolving nutraceuticals landscape in the UAE.

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Based on the distribution channel the market is categorized into Specialty Stores, Online, Hypermarkets/Supermarkets, and Pharmacies. The Pharmacies segment is expected to dominate the growth of the Nutraceuticals market in the United States.

The most common place to buy nutraceutical items is via pharmacies which is anticipated to drive the growth of the market throughout the forecast period. Although online channels are also growing in popularity owing to the convenience, doorstep services and are predicted to experience the largest growth throughout the forecast period.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based United States management consulting firm.

“UAE Nutraceuticals Market- By Application (Functional Beverages, Functional Food, and Dietary Supplements), By Form (Liquid, Tablets, Capsules, Powder, and Others), By Source (Plant, Animal, and Microbial), By Distribution Channel (Specialty Stores, Online, Hypermarkets/Supermarkets, Pharmacies), By Company and By Region, has evaluated the future growth potential of UAE Nutraceuticals Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the UAE Nutraceuticals Market.”