A new market report from Transparency Market Research, Albany, NY, has found that the global nutraceutical product market reached $142.1 billion in 2011 and is expected to reach $204.8 billion by 2017, growing at a CAGR of 6.3% from 2012 to 2017. Asia Pacific (including Japan) is expected to have the second largest market share after North America by 2017.
 
The report, “Nutraceuticals Product Market: Global Market Size, Segment and Country Analysis & Forecasts (2007-2017),” also cited that in 2011, the functional food and beverage market reached USD 93.0 billion, registering a growth rate of 6.0% from 2007 to 2011. North America enjoyed the highest market share for nutraceutical products at USD 56.4 billion in 2011.
 
According to Transparency Market Research, the global nutraceutical market is growing primarily on account of growth in dietary supplement segment, however functional foods and beverages also make up a significant market segment. North America has the highest market share for nutraceutical product market, which is primarily supported by the U.S. health conscious consumers segment.
 
The global nutraceutical market is estimated to have a growth rate of 6.6% during the forecasted period (2012-2017) in protein and peptides segment of dietary supplement market. The non-herbal segment of dietary supplement market will have a growth rate of 6.3% from 2012 to 2017. The omega fatty acid fortified food segment of functional food market will have a growth rate of 6.7% during the forecasted period.
 
The North America and Asia Pacific nutraceutical market is expected to have a market share of 39.2% and 30.4% respectively in 2017. The dietary supplement market will be the fastest growing market from 2012 to 2017 as it helps in improving the body ability to heal and protect itself.
 
This report categorizes the nutraceutical market into six geographic regions namely: North America, Western Europe, Eastern Europe, Asia -Pacific Latin America and Middle East & Africa.