Global Forecast: Nutraceutical Market Continues To Expand Worldwide
A recent report titled "Global Nutraceutical Industry Analysis till 2017" shows that the global demand for nutraceuticals continues to increase.
The report which covered major regions such as Asia-Pacific, North America, Latin America and Europe and which included such countries as the U.S., Japan, China, South Korea, Australia, India, Mexico, Brazil, Canada, the U.K., Germany, France and Italy, showed an increase in consumer demand for these products.
According to the report the global nutraceutical market has grown over 8.2% over the period of 2006-2012. The growth in the market size has been primarily supplemented by a remarkable increase in the ageing population worldwide, along with growing consciousness of the health and wellness amongst the people across the globe.
The present growth status of the nutraceutical industry varies across the globe, in accordance with the economic development, Consequently, North America and Europe features mature markets of nutraceuticals wherein the penetration is more appreciated by the high degree of awareness amongst the consumers. The U.S. is the most active market for nutraceuticals in the world. In Europe, this trend is set by the U.K., Germany, France and Italy.
It is estimated that by the year 2017 the global revenues of the nutraceutical industry are to reach 424 billion USD