Saudi Arabia Nutraceuticals Market to Witness Robust Growth at 6.71% CAGR During 2022-2027- Says Markntel

Better Understanding of Saudi Arabia Nutraceuticals Market

According to recently published report by Markntel Advisors, the Saudi Arabia Nutraceutical Market is projected to grow at a CAGR of around 6.71% during the forecast period, i.e., 2022-27. The predicted growth is majorly fueled by rising awareness of consumers toward the health benefits of nutraceuticals as well as the food and beverages sector.

Introduction: A Promising Future for Nutraceuticals in Saudi Arabia

The nutraceuticals market in Saudi Arabia is expected to flourish during the forecasting years, owing to the high intake of sugary and oily food products coupled with comfortable lifestyle adoption, growing lifestyle-based diseases in the country. Nutraceuticals products are non-specific biological supplements used to promote general well-being, control symptoms, and prevent malignant processes. Additionally, the rise in acceptance of nutraceutical supplements across the food products and beverages, would augment the market in the forthcoming years.

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Segmentation Analysis Based on Product Type, Source, Form, Sales Channel, and Region

The industry is further bifurcated into:

By Product Type:

Dietary Supplements (Proteins & Peptides, Vitamins & Minerals, Herbals, Others),
Functional Foods (Functional Foods (Functional Foods, Probiotics Fortified Food, Omega Fatty Acid Fortified Food, Branded Wheat Flour, Others),
Functional Beverages (Fruit & Vegetable, Juices, and Drinks, Dairy & Dairy Alternative Drinks, Non-Carbonated Drinks), Others

By Source:

Plant,
Animal,
Microbial

By Form:

Tablets & Capsules,
Gummies & Soft Gels,
Powder & Liquid

By Sales Channel:

Offline Stored-Based,
Supermarkets & Hypermarkets,
Specialty Stores,
Online

By Region:

Central,
East,
West,
South

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Saudi Arabia Nutraceuticals Market Growth Drivers

Several factors contribute to the rapid growth of the nutraceuticals market in Saudi Arabia:

Rising Health Awareness
Chronic Disease Prevalence
Government Initiatives
E-commerce Boom
Innovative Product Launches

Competitive Landscape: Key Players in Saudi Arabia Nutraceutical Market

Bayer Saudi Arabia, LLC,
Vitabiotics Ltd.,
Nestlé Middle East & North Africa,
Herbalife Nutrition Ltd.,
BASF Saudi Arabia Co. Ltd.,
PepsiCo Inc.,
General Mills Inc.,
Nature’s Way Products, LLC.,
Abbott Saudi Arabia Trading LLC,
Pfizer Saudi Limited Corporate, Others

Saudi Arabia Nutraceuticals Market Challenges & Opportunities

Challenges:

Regulatory Hurdles: Strict compliance with SFDA regulations can pose challenges for new entrants.
Consumer Skepticism: Limited awareness about product benefits in rural areas.

Opportunities:

Plant-Based Products: Increasing demand for vegan and organic supplements presents a lucrative opportunity.
Digital Marketing: Leveraging social media platforms to educate consumers about nutraceutical benefits.

FAQs About the Saudi Arabia Nutraceuticals Market

What is the projected CAGR for the Saudi Arabia nutraceuticals market?

The market is expected to grow at a CAGR of 6.71% during 2022-2027.

Which product segment dominates the market?

Dietary Supplement hold a dominant share due to their health benefits and growing consumer demand.

What factors drive market growth?

Rising health awareness, chronic disease prevalence, government support, and innovative product launches are key drivers.

Who are the major players in this market?

Leading companies include Bayer Saudi Arabia LLC, Nestlé Middle East & North Africa, Herbalife Nutrition Ltd., among others.

What are the key challenges in this industry?

Regulatory compliance and limited consumer awareness in rural areas are notable challenges.

Conclusion

With the growing trends the industry is projected to grow and expand during the forecasting years i.e., 2022-27 as the above-stated factors are changing the market landscape and opening doors to the market players. Market players can enhance their market size & revenue by meeting the changing market dynamics and evolving consumer expectations. Additionally, market players with the help of SWOT analysis can adjust their existing settings regarding the evolving market trends, which would ultimately augment the size & volume of the entire industry at the national level.

About US:

MarkNtel Advisors is a leading consulting, data analytics, and market research firm that provides an extensive range of strategic reports on diverse industry verticals. We being a qualitative & quantitative research company, strive to deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, and individuals, among others.

We have our existence across the market for many years and have conducted multi-industry research across 80+ countries, spreading our reach across numerous regions like America, Asia-Pacific, Europe, the Middle East & Africa, etc., and many countries across the regional scale, namely, the US, India, the Netherlands, Saudi Arabia, the UAE, Brazil, and several others.