UAE Nutraceuticals Market - By Application, Form, Source, Distribution Channel, Region, Competition, Forecast, and Opportunities, 2028F

Report
76 Pages
July 2023
Region: United Arab Emirates
TechSci Research
ID: 5849441

The UAE Nutraceuticals Market is expected to grow at a significant rate during the forecast period 2024-2028. Over the course of the forecast period, the market is anticipated to be driven primarily by the rising demand for functional foods and dietary supplements. A positive view of medical nutrition, in light of its growing use to treat cardiovascular disease and malnutrition, is predicted to stimulate the market for dietary supplements. Further, the growing knowledge of the health advantages associated with the intake of nutraceuticals and nutraceutical supplements is the cause of the increase in demand for these products. Additionally, it is anticipated that increased athlete participation in sports at the national and international levels will raise the market for functional beverages.

Nutraceuticals are items that fall under the food category but have medical uses as well. Given that they are created using food and food extracts, they are also referred to as bioceuticals. Nutraceutical products come in a wide range of varieties and are used for a variety of purposes. These goods are unregulated in many parts of the world because they are viewed as food additives or supplements. Products made with nutraceuticals are in high demand. The growing knowledge of the health advantages associated with the intake of nutraceuticals and Nutraceutical supplements is the main driver of the increase in demand for these products. Additionally, it is anticipated that increased athlete participation in sports at the national and international levels will raise demand for functional beverages. The market for functional foods is expanding primarily due to rising cardiovascular, chronic, and obesity-related disorders as well as an urbanizing population, rising healthcare spending, and these diseases. Omega fatty acids, which are abundant in functional foods, aid in regulating blood circulation and maintaining weight. It offers medical or health advantages, such as disease prevention and treatment. Due to the increasing prevalence of lifestyle-based diseases in the UAE, which is brought on by excessive packaged food consumption and a sedentary lifestyle, the need for nutraceuticals in the form of fortified functional foods and beverages has grown over time.

Consumer knowledge of herbal foods and goods has increased over the last few years. Chemical compounds are being shunned by many customers in foods, health foods, functional foods, proteins, and nutraceutical products. Gummies, jellies, and soft gels, newer types of nutraceuticals that come in a variety of sizes, shapes, flavors, and concentrations, are being brought to the market and are steadily gaining popularity. Also, these nutraceuticals are growing in popularity among children, which is assisting the market’s expansion. These factors are anticipated to boost the growth of the UAE Nutraceuticals market.

Expanding Lifestyle Disorders to Drive the Market Growth

The lifestyle of UAE citizens has resulted in mild to severe health issues, from chronic ailments to poor gut. In addition, the widespread use of processed and junk food is the main cause of the prevalence of lifestyle disorders like obesity, diabetes, cholesterol, etc. People are adjusting to the fast-paced way of life and attempting to manage the stress brought on by lifestyle changes, which has led to an increase in the incidence of chronic diseases in the area. According to research, cancer, diabetes, autism, and genetic disorders are the four most prevalent health issues in the United Arab Emirates. According to the UAE government, 4,500 new instances of cancer are reported in the country each year, and in Abu Dhabi, cancer was the third largest cause of death in 2012. Another important disease in the United Arab Emirates is diabetes, which affected 19.0% of people between the ages of 20 and 79 as of 2014. By 2021, the government is expected to bring this figure down to 16.2%. The biggest contributor to the rise in lifestyle problems in the nation has been the use of packaged foods and beverages, high-calorie counts, together with little to no physical activity. However, the integration of nutraceutical goods into the general population's everyday routine has been fueled by expanding awareness of leading a healthy lifestyle, rising use of nutritional supplements for immunity building, and boosting internal organ functions, etc. Further, functional meals are seen as having a very favorable reputation with consumers, largely because of the additional health and wellness advantages these products provide. The total growth has been assisted by the rising elderly population, rising healthcare costs, changing lifestyles, innovative food products, and expectations for higher prices.

A surge in Demand for Infant Nutraceutical

UAE has seen a rise in the use of nutraceuticals in newborn diets. The use of functional foods and nutraceutical supplements has grown as a result of consumer efforts to prevent gastrointestinal illnesses. A significant amount of protein and other dietary supplements are also obtained, supporting end-metabolism users and assisting in the fight against a variety of acute and chronic conditions. For instance, Carrefour kids drink yogurt, one of the many types of probiotic supplements for kids. Additionally, the firm’s entry into the market of newborn probiotic supplement goods like BioGaia Protectis probiotic drops, Synergy Infabiol infant probiotic drops, Calmco Probiotic Drops, etc., had a positive effect on the market's expansion in the ensuing years. Over the projection period, it is anticipated that the growing senior population and rising healthcare costs will support the expansion of the worldwide functional food business. Hence, the rising demand for infant nutraceuticals is fueling the UAE Nutraceutical Market.

Deficiency of Vitamin D to Boost Market Expansion

About 90% of the population in the UAE was found to have vitamin D insufficiency, according to a survey conducted there. The government has launched several campaigns to inform consumers about the various Vitamin D sources and how to maintain a balance of necessary vitamins and dietary supplements in order to tackle this issue. In order to ameliorate the existing situation of the people in the UAE, the government has also requested that various food and beverage industries provide various fortified juices, milk, and other dairy products with vitamin D.

Implementation of VAT and Excise Duty is Limiting the Market Expansion

The tax system for the goods sold in the UAE market has undergone substantial adjustments owing to the UAE government. The government began charging an excise tax of 100% on energy drinks in October 2017. The UAE then introduced 5% VAT three months after 5% VAT went into effect in January 2018. This had a detrimental effect on the products, which led to a decline in consumer spending as market prices rose for the goods.

Market Segmentation

UAE Nutraceuticals Market is segmented based on application, form, source, and distribution channel. Based on application, the market is divided into Functional Beverages, Functional Food, and Dietary Supplements. Based on form, the market is segmented into Liquid, Tablets, Capsules, Powder, and Others. Based on the source, the market is divided into Plant, Animal, and Microbial. Based on distribution channel, the market is divided into Specialty Stores, Online, Hypermarkets/Supermarkets, and Pharmacies.

Market Players

The key players in the UAE Neutraceuticals market are Pfizer Inc., Bayer Middle East FZE, Vitabiotics Ltd, Nestlé UAE L.L.C., Danone, BASF MIDDLE EAST LLC & BASF FZE, PepsiCo Inc., General Mills Inc., Nature's Way Products, LLC., Abbott Laboratories S.A., and Others.

Report Scope

In this report, the UAE Nutraceuticals Market has been segmented into the following categories, in addition to the industry trends, which have also been detailed below: