Technological upgradation, coupled with progression in product development, is projected to drive the dietary supplements industry over the coming years. The functional food segment led the overall market in 2021 with a revenue share of over 40.0%, followed by dietary supplements and functional beverages.
Thus, the COVID-19 pandemic across the globe has paved the way for nutraceuticals to build a strong presence in the global market. Moreover, after the COVID-19 pandemic, preventive healthcare measures such as dietary supplements will become a part of people’s everyday lives. Immunity boosting supplements have become mainstream over the past year and this has led to a significant change in buying patterns and consumer behavior. In the wake of the COVID-19 pandemic, the demand for dietary supplements and functional foods has soared. Furthermore, high adoption rates of herbal medicines among individuals across the globe on account of the rising concerns over hazardous effects associated with conventional pharma drugs are expected to expand the market size over the forecast period. Fibers tend to foster easier bowel movements while providing critical cleansing of internal organs, while minerals contribute to higher retention and passage of nutrients into cells and promote blood clotting among other functions. Multivitamins are becoming an integral part of the lifestyle among consumers in the U.S., and this trend has surged during the COVID-19 pandemic in the U.S.ĭietary fibers and minerals are likely to grow owing to the high awareness regarding their benefits in overall health and bodily maintenance. Consumers have been preferring multivitamins that provide the essential nutrients to the human body. has witnessed an increasing demand for dietary supplements over the past few years owing to the growing importance of preventive health care among consumers. The rising geriatric population, increasing healthcare costs, changing lifestyle, food innovation, and expectations regarding the higher prices have aided the overall growth.
Consumers’ attitude is observed to be very positive towards functional foods mainly on account of the added health and wellness benefits offered by these products. Rising healthcare costs, coupled with the increasing geriatric population across the world, are anticipated to assist the global functional food industry growth over the forecast period. A favorable outlook towards medical nutrition in light of the increasing application for the treatment of cardiovascular disorder and malnutrition is likely to stimulate the growth of dietary supplements. The growing demand for dietary supplements and functional food is expected to be a key driving factor for the market over the forecast period. Word is some 30 vendors already are signed to the 35,000-square-foot food hall, the largest in Florida. Food hall officials said the goal is to create “an arcade” of different food choices to please everyone.The global nutraceuticals market size was valued at USD 454.55 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 9.0% from 2021 to 2030.
3rd Avenue, half a block south of sizzling Atlantic Avenue.Īlthough once slated to open this year, the food hall now is set to open in April. The football-sized food hall is being built at 33 S.E. Lackey's prediction is good news for another food hall already under construction in Palm Beach County, the Delray City Market in downtown Delray Beach. The concept isn't new in Europe and in many major cities in the United States, food halls already are established dining and gathering destinations, he said. While restaurants continue to struggle and in some cases close, Lackey said he expects to see a boom in food halls. In fact, "all of our seating is outdoors," Vila said, "which has been great people are coming out and enjoying the space." Vila said Grandview Public Market features "a lot of outdoor space." That means a food hall featuring outdoor seating will fit the bill for diners who want to get out of the house and sample a variety of food, but who also want to do so in a way that allows them to avoid crowded, indoor areas, Lackey said. Public health officials warn that indoor spaces, including restaurants, are more likely to spread the highly contagious airborne coronavirus.
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