Nutraceuticals are products that are used for both nutrition and medicine. A substance that has physiological benefit or provides protection against chronic disease is referred to as a nutraceutical product. Nutraceuticals can be used to promote health, slow down the ageing process, prevent chronic diseases, extend life, and maintain body's structure and function. The market is expected to gain traction, owing to multiple applications of nutraceuticals in food & beverages and medical industry. Moreover, various factors such as increasing demand for nutraceuticals, and health benefits associated with nutraceuticals are expected to impact the growth of the MENA nutraceuticals market.
MENA nutraceuticals market is estimated to be valued at US$ 13,051.5 Mn in 2021 and is expected to increase to US$ 21,048.3 Mn by 2028, exhibiting a CAGR of 7.1% during the forecast period (2021-2028)
Figure 1. MENA Nutraceuticals Market Value (US$ Mn), and Y-o-Y Growth (%), 2017-2028
Growing research and development activities to develop novel nutraceuticals is expected to fuel growth of the MENA nutraceuticals market over the forecast period
Growing research and development activities by government, as well as market players in the MENA region to develop novel nutraceuticals is expected to fuel growth of the MENA nutraceuticals market over the forecast period. According to an article published in the North African Journal of Food and Nutrition Research, in July 2021, a research was conducted in collaboration with the of University of Béjaia, Chadli Bendjedid University of El-Tarf, Bejaia University, and Royal Food Conservatory, Algeria for determining the mineral profile of lentil flour. The results of this study showed that the mineral content of raw and roasted lentil flour was dramatically increased by the addition of yogurt. Such revelations can be used to develop potential dietary supplements made from lentils and help prevent chronic health conditions such as cancer, type 2 diabetes, cardiovascular disease and others.
|Base Year:||2020||Market Size in 2021:||US$ 13,051.5 Mn|
|Historical Data for:||2017 to 2020||Forecast Period:||2021 to 2028|
|Forecast Period 2021 to 2028 CAGR:||7.1%||2028 Value Projection:||US$ 21,048.3 Mn|
Nestlé S.A., Danone Nutricia, Unilever, Bionova Lifesciences, BASF SE, Abbott Laboratories, Arkopharma Laboratories, GlaxoSmithKline, Archer Daniels Midland Company, DuPont, Kellogg’s, Arla Foods, Koninklijke DSM N.V., Quantum Naturals Ltd., Adcock Ingram, Ascendis Health Limited, iNova Pharmaceuticals, Vital Health Foods, Jamjoom Pharma, Creso Pharma, and ConnOils LLC
|Restraints & Challenges:||
Figure 2. MENA Nutraceuticals Market Share (%), by Application, 2021
Increase in Demand for Nutraceuticals in Emerging Markets of MENA Region is expected to fuel growth of the MENA nutraceuticals market over the forecast period
According to an article published by the Sustainability Science Journal in July 2018, the Middle East and North Africa (MENA) region face difficulties such as food and nutrition shortages, rising rates of diet-related non communicable diseases (NCDs), and others. Food and nutrition instability are predicted to raise demand for highly nutritious products such as nutraceuticals, making this a profitable growth opportunity for the MENA nutraceuticals market during the forecast period.
MENA Nutraceuticals market – Impact of Coronavirus (COVID-19) Pandemic
The coronavirus or COVID-19 outbreak started from Wuhan, China in 2019 and has spread across all the continents of the world, affecting various industries globally. Economy in countries in the MENA region such as Iran, Syria, Iraq, Lebanon, Morocco, Tunisia, and others has been disrupted due to lockdowns implemented by government to combat spread of coronavirus since January 2020, which has negatively impacted the market.
According to data published by the Organisation for Economic Co-operation and Development (OECD) in November 2020, COVID-19 has posed major challenges to the healthcare infrastructure in the MENA region. In terms of the overall management of the COVID-19 situation, several nations, such as Lebanon, Morocco, and Tunisia, have been severely damaged. Furthermore, the OECD claims that countries including Iran, Syria, Iraq, the Palestinian Authority, Yemen, and Libya are suffering from a lack of hospital beds and limited COVID-19 testing capabilities. According to the same source, the COVID-19 pandemic has cost the Middle East a significant amount of money. Containment measures implemented by governments in Middle Eastern countries have resulted in the restriction of economic activities that contribute to the economy such as manufacturing, import/export, tourism, and so on, putting a greater strain on the economies. According to the OECD, the COVID-19 pandemic has resulted in a bottoming of crude oil prices, causing the MENA region to lose US$ 42 billion in GDP in 2020.
MENA Nutraceuticals Market: Restraint
Side effects and high cost of nutraceuticals products are the major factors that are expected to restrain growth of the MENA nutraceuticals market. For instance, according to a review article published in the Annual Review of Pharmacology and Toxicology in January 2018, excessive vitamin use such as pyridoxine (Vitamin B6) has been linked to photosensitivity and neurotoxicity in elderly individuals. Moreover, excessive vitamin E usage has been linked to diarrhea, blurred vision, weakness, gonadal dysfunction, and cancer recurrence. Moreover, excessive vitamin A consumption has also been linked to an increased risk of congenital malformations in pregnant women.
Major players operating in the MENA nutraceuticals market include Nestlé S.A., Danone Nutricia, Unilever, Bionova Lifesciences, BASF SE, Abbott Laboratories, Arkopharma Laboratories, GlaxoSmithKline, Archer Daniels Midland Company, DuPont, Kellogg’s, Arla Foods, Koninklijke DSM N.V., Quantum Naturals Ltd., Adcock Ingram, Ascendis Health Limited, iNova Pharmaceuticals, Vital Health Foods, Jamjoom Pharma, Creso Pharma, and ConnOils LLC
Nutraceuticals, also called bioceuticals are substances that are derived from food sources and exhibit physiological benefits such as in prevention and treatment of illness. According to a 2018 review article by the Asian Journal of Pharmaceutical Research, nutraceuticals can be derived from food sources such as dietary fiber (beans, fruits, etc.), Probiotics (yogurt, dark chocolate, etc.), Prebiotics (asparagus, almonds, apples, etc.), Polyunsaturated fatty acids (olive oil, walnuts, etc.), Antioxidants Vitamin (Vitamin C, Vitamin E), Polyphenols (tea, coffee, spinach, etc.), Spices (garlic, turmeric). Nutraceuticals can be used to prevent and treat chronic diseases such as cardiovascular disease, diabetes, cancer, obesity, and hypertension.
The increasing prevalence and incidence of chronic diseases in the Middle East and North Africa is the primary driving factor for growth of the MENA nutraceuticals market over the forecast period. According to an article published by the Eastern Mediterranean Health Journal in May 2020, it has been predicted that cancer incidence will increase by 1.8 fold in the Gulf countries such as Bahrain, Iraq, Kuwait, Oman, Qatar, Saudi Arabia, United Arab Emirates, and others from 2002-2030. The same source states that the incidence rate of lung cancer in Gulf States, Algeria, Jordan, Lebanon, Palestinian Territories, Morocco, and Tunisia has increased from 16,596 new cases in 2008 to 29,576 new cases in 2020, and is expected to further increase in the near future.
Moreover, according to the IDF Diabetes Atlas 2019, the prevalence of diabetes in the Middle East & North Africa region is expected to increase from 12.2% in 2019 to 13.3% in 2030 and 13.9% in 2045.
Key features of the study:
“*” marked represents similar segmentation in other categories in the respective section.