Saudi Arabia Nutraceuticals Market - Forecast(2024 - 2030)
Saudi Arabia Nutraceuticals Market Overview
The Saudi Arabia Nutraceuticals market size is estimated to reach $2.5 billion by 2027. Furthermore, it is poised to grow at a CAGR of 7.5% over the forecast period of 2022-2027. Nutraceutical word has been derived from two different sets of terms, namely- nutrition and pharmaceuticals. The products are constructed for non-specific biological therapies, which generally promote well-being, control symptoms, and lastly in stop any malignant processes. Moreover, the products are products derived from food sources that potentially have extra health benefits, as and when compared to normal foods. One of the primary components of nutraceuticals is dietary supplements, which are concentrated in the form of liquid, dry, or powder form. Antioxidants and amino acids have been primary ingredients in most dietary supplements as they help in resolving a broad parameter of symptoms and problems. Certain nutraceutical substances can act as potential food additives in the food matrix. Another potential sub-category that is gaining traction is “farmaceuticals”, which are certainly valuable components derived from the modified agricultural crops and animals.
Report Coverage
The report: “Saudi Arabia Nutraceuticals Market Forecast
(2022-2027)” by Industry ARC covers an in-depth analysis of the
following segments of the Saudi Arabia Nutraceuticals Market.
By Source- Animal and Plants.
By Product Type- Functional Foods and Beverages, Medicinal
Food, Dietary Supplements, and Others.
By Form- Dry or Powder, Liquid, Capsule or Pill, and
Others.
By Distribution Channel- Online and Offline.
Key Takeaways
- The medical benefits being offered by the following to mitigate or control the rising cardiovascular issues and the growing preference for personalized medicines are some of the key factors responsible for driving the Saudi Arabia Nutraceutical Industry.
- However, regulatory hassles and the cost of research have dampened the growth of the market is a ready market challenge.
- A detailed analysis of strengths, weaknesses, opportunities, and threats will be provided in the Saudi Arabia Nutraceuticals Market Report.
Saudi Arabia Nutraceuticals Market Segmentation Analysis- By Source
The Saudi Arabia Nutraceuticals market based on the source
can be further segmented into animals and plants. Plant-sourced nutraceuticals
held a dominant market share in the year 2021. It is owing to a substantial
wave of “veganism,” which started from the western regions and now has started
gripping the middle eastern countries such as Saudi Arabia. Moreover, vegan
products are fortified with all the essential nutrients and properties, which
make them at par with the animal-based source. Additionally, as per an
independent survey, people who chose “vegan” as their dietary preference had
better health attributes. Furthermore, the region has observed increased cases
of heart ailments because of consuming too much meat. Around 30% of the adults
in UAE and middle east countries have hypertension which is fuelled by eating
raw meat and other forms of animal diets.
Moreover, plant-sourced nutraceuticals are estimated to be the fastest-growing, with a CAGR of 8.2% over the forecast period of 2022-2027. It is owing to the region’s policy to stop imports and local manufacturing of ingredients derived from animal blood, especially pork. Lastly, product innovations have been dominant in exploiting plant-based meat. Global manufacturers claim that various industries of the region have remained untapped, and by exploiting the plant-based route, they can gain massive amounts of success.
Saudi Arabia
Nutraceuticals Market- Source (%) for 2021.
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Saudi Arabia Nutraceuticals Market Segmentation Analysis- By Product Type
The Saudi Arabia Nutraceuticals market based on product type
can be further segmented into Functional Foods and Beverages, Medicinal Food,
Dietary Supplements, and Others. Functional food and beverages held a dominant
market share in the year 2021. It is owing to the predominant product launches
being observed in the following category. The following category entails
various sports drinks, energy drinks, and other dairy alternatives apart from
the nutritional-rich cereal and confectionary items. Health benefits coupled
with performance increment have been quoted as one of the predominant factors
for the hold of this segment.
Moreover, the functional foods and beverages segment is
estimated to be the fastest-growing, with a CAGR of 8.4% over the forecast
period of 2022-2027. It is owing to a low number of competitors which exist in
the market, and the government is showing ready support for such industries.
For example, Dubai Energy Drink has the name “Dubai,” which makes it
representative of the nation in terms of value. Moreover, a heightened demand
has been noticed from the students for such beverages, and with more and more
local manufacturers coming into the game, the market will be able to exploit
great opportunities. Lastly, as per a survey, around 70% of the healthy food
item purchases have been done by the young adults of the region, which serves
as a predominant factor for the market growth.
Saudi Arabia Nutraceuticals Market Drivers
The growing prevalence of diabetes and the healthy assistance of nutraceuticals to mitigate the severity of the said disease has been a key driver.
Diabetes has been affecting millions of people globally; for
example, as per the WHO, around 550 million people have confirmed diabetes.
Moreover, as per the further data extrapolation, it can be said that around 4.5
million cases of diabetes mellitus have been prevalent in Saudi Arabia.
Additionally, the prevalence had increased from 2.8 million cases in 2011.
Further, nutraceuticals have been identified as one of the potential barriers
to stopping the transfer from type-1 to type-2. Nutraceuticals are easily
available, accessible, and affordable, and people do not need to have a
prescription to obtain such products. Cinnamon, one of the key ingredients of
nutraceutical supplements, can reduce fasting blood glucose levels in type 2
diabetes. Curcumin can improve insulin resistance in pre-diabetic and Type 2
diabetes. Lastly, resveratrol can reduce glucose levels and improve insulin
resistance. The following reasons have made the sales notch up and have been
driving the market.
A widened applicative use of nutraceuticals has helped in gaining traction.
Nutraceutical products cover a lot of products under their
umbrella. Moreover, new ingredients are readily being studied. Hence the field
is yet to reach attrition. One of the noticeable product launches within the
country has been of nutraceutical-related items, and additionally, out of all
the orders placed, around 70% of them are placed by teenagers or young adults.
The growing internet usage has made people aware of various such supplements
which can help them in a range of applications. Increasing the stamina to run a
mile or to fast for a day without needing a meal are some of the noticeable
trends observed in the region of Saudi Arabia.
Saudi Arabia Nutraceuticals Market Challenges
Stringent import policies pertaining to raw materials needed for nutraceutical product production have dampened the growth of the market.
Nutraceutical items are made from a variety of sources, both
animal and plant. Peptides, a major blood component, are used in making
commercial foods and nutraceuticals. Hemoglobin powders from cow and pig blood
are used as meat colorants. Additionally, manufacturers are using pig’s blood
to make protein powder owing to its high nutritional value. However, Saudi
Arabia has banned the following list of products from being imported as per
their article. “All foodstuffs made from animal blood” and “pork or any of
its related item.” Hence, the marketers face a ready challenge to substantiate
and create demand by using the limited list of ingredients.
Saudi Arabia Nutraceuticals Market Competitive Landscape
Product launches, mergers and acquisitions, joint ventures,
and geographical expansions are key strategies adopted by players in the Saudi
Arabia Nutraceuticals Market. Saudi Arabia Nutraceuticals top 10 companies
include
- Archer Daniels Midland Company
- General Mills, Inc.
- E. I. du Pont de Nemours and Company
- Aland (Jiangsu) Nutraceutical Co., Ltd.
- BASF SE
- Cargill Incorporated
- Royal DSM N.V. Groupe Danone S.A.
- Nestle S.A.
- PepsiCo Inc.
- The Hain Celestial Group, Inc.
Recent Developments
- In July 2021, Dragon Energy Drink comes and is designed to maximize mental and physical performance. Dragon Energy Drink is affordable with no compromise on quality, providing its amazing taste. Dragon Energy comes in a variety of flavors, including the original Dragon Red, Sugar-Free, Xtreme Berry, and Xtreme Citrus. The following products come under the category of functional foods, as they provide energy and other benefits.
- In July 2021, MTN DEW RISE ENERGY was launched in association with NBA Basketball legend- James Bronn and PepsiCo. The following product line will offer six varied products. The canned drink will have 16Oz in volume and will have 180 mg of caffeine, Vitamins A and C, various antioxidants, and fruit juices to ramp the taste. The products will be sold across all the PepsiCo retail locations and would cost $2.59 on average. The product was launched to cater to the morning energy and caffeine boost.
- In March 2020, Dubai Energy Drink, a product promoted as a
functional beverage, was launched. The company has been allowed to cater to
health trends by allowing for a low-calorie version made from stevia. It is a
plant-based sweetener with zero additional calories. However, each serving will
have around three calories. Lastly, the company said that it can manufacturer
around 1 million cans in a day to cater to the rising demand from the young
Emirati students.
Relevant Titles
Nutraceutical Market- Forecast (2022-2027)
Report Code- FBR 0381
Nano-Capsules
Market- Forecast (2022-2027)
Report Code- HCR 0299
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