NUTRACEUTICALS MARKET IS GROWING - AND SO IS THE DEMAND FOR NUTRITIOUS INNOVATIVE SNACKS
We all want to be healthy, happy, and live a long life, because life is always nicer and easier when we are in good health. And health we can support by many lifestyles and other choices, or factors that impact it. One of them is of course food. So there is no surprise that the trend of nutraceuticals is growing. The main idea or even a principle behind nutraceuticals is - “Let food be the medicine and medicine be the food”, which is based on an old saying by Hippocrates.
Nutraceuticals can be defined as supplements that provide medical and health benefits, including the prevention and healing of diseases. They are used to combat the major health problems of the century such as cancer, diabetes, arthritis, cholesterol, sleeping disorders, and many others.
The main reason for today’s growth of the nutraceutical market worldwide is the COVID-19 pandemic and the current health trends. As mentioned in the Globe Newswire,? the ongoing pandemic influenced people's opinion to focus on buying health-boosting products. The growing knowledge and awareness of nutraceuticals have filled the market gap by providing an alternative and natural way to maintain overall health. Many surveys prove a massive increase in demand for products that boost the immune system so that even doctors worldwide advise their patients to include functional food and dietary supplement in their daily life, which contributes to the growing interest in this branch.
Referring to an article in Fortune Business Insights, an overview of the market show that the global nutraceutical market size was USD 320.00 billion in 2020, and it is predicted to grow from $352.92 billion in 2021 to $658.11 billion in 2028 at a CAGR of 9.3% in the forecast period 2021-2028.
The nutraceuticals market is divided into the following product segmentation - dietary supplements, functional foods, and functional beverages. According to the BFORTUNE, the functional beverages segment has a leading share in this niche. The main reason for that is the expanded interest among buyers to lead a healthier lifestyle and cut off their sugar consumption. This pushed the prominent brands in the industry to focus on the production of low and no-sugar foods and drinks in order to keep their market leads. Functional foods also take their significant share in this segment. They are high in important nutrients-vitamins, minerals, healthy fats, and fibbers. Filling one's diet with a variety of functional foods can help ensure a person gets the nutrients needed to protect against deficiencies. Nutrient deficits can be the cause of many health problems. Of course, we have to mention the dietary supplements here. Due to the growing number of people working from home and the desk-bound lifestyle, there was a remarkable growth in the interest in dietary supplements. They are commonly used to boost energy levels and support a healthy weight, also for steroid purposes, testosterone and metabolism-boosting.
On the graphic below, the market share of each product type is clearly visible:
For us, at Selectum it was only natural to take our private label business segment in the direction of nutraceuticals. It all started after the company BIOGENA GROUP , one of the leading Austrian food supplement companies, approached us and asked us to develop a snack that also has nutritional and supplementary benefits. Thus, BIOGENA moments - immun bites were created.?
With the immun bites, the two very important substances for the immune system and the energy metabolism vitamin C and vitamin D3 with the fatigue fighter magnesium are combined in a small crunchy cushion, as fluffy as a biscuit. Compact like finger food, the crunchy shell hides a sensationally creamy and incomparable filling: Salted Peanut Chocolate Cream. Moreover, immun bites do not contain any sugar because they use the innovative NEOH Inside ingredient, which replaces it.
This product is proof that snacking can also be healthy and delicious. National and international interest and recognition shown in Biogena Moments prove to us that we are on the right track when creating not only better but also healthier snacks.?
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