As per Transparency Market Research, global nutraceuticals market will continue to grow at a Compound Annual Growth Rate (CAGR) of nearly 7.3%, till 2021.
You will be surprised to know that the sector was last valued around $182.6 billion in 2015 and, given these forecasts, will reach up to $278.95 billion within the coming next four years’ time frame.
Maybe this growth was all because of the nonstop steps taken by the health-conscious customer toward functional foods and beverages, dietary supplements and personal care.
In the wake of nutraceutical manufacturing market growth rides the execution of supplies curtailing from the Food Safety Modernization Act (FSMA).
To meet these regulations, lots of nutraceutical companies will have to face several manufacturing challenges.
In the coming future, they will get the privilege to adjust according to the burdens of these regulatory vicissitudes to capitalize on the chances offered according to the growing market demand.
Companies need to assess risks through monitoring, testing and archiving their safety procedures and then creating these journals to the Food and Drug Administration (FDA) to validate that their manufacturing procedures are clean and safe.
Out of all, manufacturers of organic whole food supplements need to be more alert and work effectively to make their products is such a manner that can pass all the FDA regulations.
Last but not the least, nutrition products are being considered as a low-cost and safe solution to deal with the imperative unmet health needs.
As mentioned above, in past few years, consumer healthcare has become an arena where pharmacological and consumer goods companies are competing hard for growth.
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With an increasing number of people throughout the world dying from overweight than hunger, poor nutrition is currently recognized as a significant risk factor for long-term diseases.
Most health systems are ill-equipped to cope with this trend.
Progressively more, patients are being motivated to be a part of their own treatments, and a consumer market has been expanding midway between your supermarket-based world of consumer goods companies and the technological, pharmacy-based world of pharmaceutical companies.