USD 52.70 billion
Report ID: SQMIG20I2090 | Region: Global | Published Date: February, 2024 | Pages: 157 | Tables: 59 | Figures: 75
Global Nutraceutical & Vaccine Market size was valued at USD 52.70 billion in 2021 and is poised to grow from USD 53.01 billion in 2022 to USD 88.5 billion by 2030, growing at a CAGR of 7.6% in the forecast period (2023-2030).
The global nutraceutical and vaccine market has witnessed significant growth in recent years. Nutraceuticals, which encompass functional foods, dietary supplements, and herbal products, are gaining popularity due to their potential health benefits and preventive properties. Rising consumer awareness regarding the importance of nutrition and wellness has fueled the demand for nutraceutical products. On the other hand, the vaccine market has experienced a surge in demand, driven by increased emphasis on disease prevention, advancements in vaccine technology, and expanding immunization programs worldwide. Governments worldwide are committed to ensuring universal access to immunization, regardless of social or economic status. In May 2012, the World Health Organization (WHO) introduced the 'Global Vaccine Action Plan (GVAP),' which received authorization from 194 member states of the World Health Assembly. This plan focuses on strengthening routine immunization to prevent the spread of communicable diseases. Regular assessments are conducted to evaluate progress in meeting national vaccination coverage goals. The involvement of government and non-governmental organizations has become increasingly important in this field, providing a significant boost to the sector. UNICEF and the WHO have published guidelines, such as the comprehensive Multi-Year Plan (cMYP), which aims to ensure equal access to vaccination and increase stakeholder participation. Financial strategies are developed to assess program costs and enhance accountability. The global immunization coverage has steadily increased, leading to a thriving market. In 2014, 115 million infants worldwide received the Diphtheria, Pertussis, and Tetanus (DPT3) vaccine, with approximately 129 countries achieving nearly 90% vaccination coverage for DPT3. Nutraceuticals are products that offer additional nutrition and health benefits to the body. They include fortified nutrients like taurine, CoQ10, omega-3, calcium, zinc, and antioxidants, which contribute to overall well-being. Nutraceuticals are known to prevent various medical conditions, including hypertension, diabetes, heart diseases, and allergies. As consumers increasingly prioritize their health and well-being, the demand for nutraceuticals is rising globally. Consumers believe that proper nutrition can reduce healthcare expenses and social security costs, thereby benefiting governments and promoting a healthier population.
Global Market Size
USD 52.70 billion
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Global Nutraceutical & Vaccine market is segmented by type, platform, and region. Based on type, the market can be segmented into nutraceutical, and vaccine. Based on platform, the market is segmented into adult and children. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Global Nutraceutical & Vaccine Market Analysis by Type
By type, the market can be segmented into nutraceutical, and vaccine. The nutraceutical segment dominated the market. This is due to the rising demand for natural and organic supplements to address various health concerns such as weight management, cognitive health, and immune system health. Functional foods and beverages are also significant segments of the nutraceutical market, and are expected to continue growing due to their convenience and ease of consumption.
The vaccine segment is fastest growing segment in the market, which are designed to prevent infectious diseases such as influenza, HPV, and hepatitis. This is due to the increasing global emphasis on vaccination programs to prevent the spread of diseases, especially in developing countries. Combination vaccines, which provide immunity against multiple diseases, are also a significant segment of the vaccine market. The therapeutic vaccine segment, which aims to treat diseases such as cancer and autoimmune disorders, is a smaller but fast-growing segment of the market.
Global Nutraceutical & Vaccine Market Analysis by End-User
By end-user, the market can be segmented into adult, and children. The adult segment dominates both the nutraceutical and vaccine markets, as adults make up the largest segment of the population. In the nutraceutical market, adults are the primary consumers of dietary supplements, functional foods, and functional beverages, as they seek to improve their overall health and wellness. In the vaccine market, adults are the primary target for prophylactic vaccines, as they are more susceptible to infectious diseases due to a weakened immune system.
The fastest-growing segment in the nutraceutical market is the children's segment, driven by rising awareness among parents about the importance of proper nutrition and supplementation for their children's health. Parents are increasingly seeking out natural and organic supplements to address various health concerns such as growth and development, cognitive health, and immunity in their children. In the vaccine market, the fastest-growing segment is also the children's segment, as governments and healthcare providers are increasingly prioritizing childhood vaccination programs to prevent the spread of infectious diseases and ensure healthy development.
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North America dominated the global nutraceutical and vaccine market, with a significant market share. The region's dominance can be attributed to several factors, including a well-established healthcare infrastructure, robust research and development activities, high consumer awareness about health and wellness, and favorable government regulations. The United States, in particular, plays a crucial role in driving market growth in North America, owing to its strong pharmaceutical industry and extensive vaccine manufacturing capabilities.
The Asia-Pacific (APAC) region is experiencing rapid growth and is considered one of the fastest-growing markets for nutraceuticals and vaccines. Factors contributing to this growth include a large population base, increasing disposable incomes, rising healthcare expenditure, and growing awareness about preventive healthcare measures. In APAC, countries like China, India, and Japan are emerging as key players in the market, driven by their expanding healthcare infrastructure, supportive government initiatives, and a rising middle class with a focus on personal well-being.
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Global Nutraceutical & Vaccine Market Drivers
Increasing emphasis on preventive healthcare
Global Nutraceutical & Vaccine Market Restraints
Stringent regulatory frameworks and approval processes
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The global nutraceutical and vaccine market is characterized by a diverse range of players, including pharmaceutical companies, biotechnology firms, and food and beverage manufacturers. These companies strive to develop innovative products and technologies to gain a competitive edge. Key strategies employed by market players include product launches, mergers and acquisitions, collaborations, and partnerships to expand their market presence and strengthen their product portfolios. Additionally, investments in research and development activities, clinical trials, and regulatory compliance are crucial for sustaining competitiveness in this dynamic market.
Top Player’s Company Profiles in Global Nutraceutical & Vaccine Market
Global Nutraceutical & Vaccine Market Recent Developments
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According to our global nutraceutical and vaccine market analysis, the increasing emphasis on preventive healthcare and rising consumer awareness about the importance of overall well-being are driving the demand for nutraceuticals and vaccines. However, stringent regulatory frameworks and approval processes pose challenges for market players, particularly smaller companies. The market is dominated by established players in North America, while the Asia-Pacific region is emerging as a fast-growing market with untapped potential. Personalized and targeted healthcare solutions are gaining traction, reflecting the trend towards precision medicine and individualized treatment approaches.
|Market size value in 2021
|USD 52.70 billion
|Market size value in 2030
|USD 88.5 billion
|Forecast Unit (Value)
|North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
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For the Global Nutraceutical & Vaccine Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Nutraceutical & Vaccine Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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