Nutraceuticals are items that are both nutritional and medicinal in nature. A nutraceutical product is a chemical that offers physiological benefits or helps protect against chronic illness. Nutraceuticals is used to enhance health, delay the effects of aging, prevent chronic illnesses, prolong life, and preserve the function and structure of the body. The market now is predicted to grow because to the numerous uses of nutraceuticals mainly in the food and beverage and medical industries. Furthermore, factors such as rising demand for nutraceuticals with added health advantages are likely to have an influence on the expansion of the MENA nutraceuticals market.
The MENA nutraceuticals market is forecast to be worth US$ 13,051.5 million in 2022, with a projected growth to US$ 21,048.3 million by 2030, defining a CAGR of 7.1% during predicted period (2023-2030).
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MENA Nutraceuticals Market- drivers
Growing government and market player R&D initiatives in the MENA area to create innovative nutraceuticals are likely to drive growth in the MENA nutraceuticals market in the upcoming years. According to a July 2021 article released in the North African Journal of Food and Nutrition Research, a study was held in collaboration with the Royal Food Conservatory in Algeria, Bejaia University, Chadli Bendjedid University of El-Tarf and the University of Béjaia to determine the mineral outline of lentil flour. The inclusion of yoghurt significantly boosted the mineral level of raw and roasted lentil flour, according to the findings of this study. Such discoveries can be utilised to create possible lentil-based dietary supplements that can help avoid chronic diseases like cardiovascular disease, type-2 diabetes, cancers and others.
Increased demand for nutraceuticals in the MENA region’s emerging markets is likely to drive development in the MENA nutraceuticals market over the predicted period.
According to a July 2018 paper published in the Sustainability Science Journal, the Middle East and North Africa (MENA) area is facing challenges such as shortage of food and nutrition, growing incidence of diet-related noncommunicable diseases (NCDs), and others. Instability of nutrition and food are expected to increase demand for goods in high nutrition such as nutraceuticals throughout the projected period, making this a profitable positive growth potential for the MENA nutraceuticals market.
MENA Nutraceuticals market – Impact of Coronavirus (COVID-19) Pandemic
The COVID-19 epidemic began in Wuhan, China in 2019 and has since spread to all continents, affecting numerous sectors worldwide. Since January 2020, the economy of MENA nations such as Tunisia, Morocco, Lebanon, Iraq, Syria, Iran and others has been impacted owing to government-implemented lockdowns to curb the out spread of coronavirus as it has negative impact on the market.
COVID-19 has caused significant problems to the MENA region’s healthcare infrastructure, according to statistics provided by the Organization for Economic Co-operation and Development (OECD) in November 2020. Several nations, including Tunisia, Morocco and Lebanon, have suffered significantly as a result of the general management of the COVID-19 crisis. Furthermore, the OECD argues that countries such as the Palestinian Authority, Iraq, Syria, Iran, Libya, and Yemen have a shortage of beds in hospital as well as inadequate COVID-19 testing capacities. As per the similar source, the Middle East has paid a high price for the COVID-19 epidemic. Containment measures enacted by governments of Middle Eastern nations have led in the limitation of economic activity such as tourism, import/export, manufacturing and so on, placing further burden on the economies. According to the OECD, the COVID-19 epidemic has caused crude oil cost to fall, leading the MENA region to lose US$ 42 billion in GDP by 2020.
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MENA Nutraceuticals Market: Restraint
The primary factors likely to hinder growth in the MENA nutraceuticals market are side effects and the high price of nutraceuticals product. For example, excessive vitamin consumption, such as pyridoxine (Vitamin B6), has been associated to photosensitivity and neurotoxicity in elderly people, according to a review study published in the Annual Review of Pharmacology and Toxicology in January 2018. Excess vitamin E use has also been associated to cancer recurrence, gonadal dysfunction, weakness, impaired vision and diarrhea. Furthermore, high vitamin A intake has been associated to a higher risk of congenital abnormalities in pregnant women.
ConnOils LLC, Cresco Pharma, Jamjoom Pharma, Vital Health Foods, iNova Pharmaceuticals, Ascendis Health Limited, Adcock Ingram, Quantum Naturals Ltd., Koninklijke DSM N.V., Arla Foods, Kellogg’s, DuPont, Archer Daniels Midland Company, GlaxoSmithKline, Arkopharma Laboratotries, Abbott Laboratories, BASF SE, Bionova Lifescience, Unilever, Danone Nutrica and Nestle S.A. are among the major participants in the MENA nutraceuticals industry.
Table of Content
Chapter 1 Industry Overview
1.3 Research Scope
1.4 Market Analysis by Regions
1.5 MENA Nutraceuticals Market Size Analysis from 2023 to 2030
11.6 COVID-19 Outbreak: MENA Nutraceuticals Industry Impact
Chapter 2 Global MENA Nutraceuticals Competition by Types, Applications, and Top Regions and Countries
2.1 Global MENA Nutraceuticals (Volume and Value) by Type
2.3 Global MENA Nutraceuticals (Volume and Value) by Regions
Chapter 3 Production Market Analysis
3.1 Global Production Market Analysis
3.2 Regional Production Market Analysis
Chapter 4 Global MENA Nutraceuticals Sales, Consumption, Export, Import by Regions (2017-2023)
Chapter 5 North America MENA Nutraceuticals Market Analysis
Chapter 6 East Asia MENA Nutraceuticals Market Analysis
Chapter 7 Europe MENA Nutraceuticals Market Analysis
Chapter 8 South Asia MENA Nutraceuticals Market Analysis
Chapter 9 Southeast Asia MENA Nutraceuticals Market Analysis
Chapter 10 Middle East MENA Nutraceuticals Market Analysis
Chapter 11 Africa MENA Nutraceuticals Market Analysis
Chapter 12 Oceania MENA Nutraceuticals Market Analysis
Chapter 13 South America MENA Nutraceuticals Market Analysis
Chapter 14 Company Profiles and Key Figures in MENA Nutraceuticals Business
Chapter 15 Global MENA Nutraceuticals Market Forecast (2023-2030)
Chapter 16 Conclusions
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