Market Overview
The MENA Nutraceuticals Market is estimated to be valued at US$ 14.93 Bn in 2023 and is expected to exhibit a CAGR of 7.2% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Nutraceuticals comprising functional ingredients that provide health and medical benefits are increasingly being consumed in the Middle East and North Africa region. These include vitamins, proteins, fibers, omega-3 fatty acids, minerals, prebiotics and probiotics used for various medical conditions like diabetes, neurological disorders, cardiovascular diseases, cancer and weight management.

Market Dynamics
The growth of the MENA nutraceuticals market is attributed to two key drivers over the forecast period:

1) Growing awareness among consumers regarding preventive healthcare and consumption of food supplements and functional ingredients to boost immunity and overall wellness. Escalating lifestyle diseases due to unhealthy dietary habits and sedentary behaviors have prompted consumers to adopt nutraceutical products.

2) Rising spending capacity of consumers and higher focus of government organizations in MENA countries to promote preventive healthcare through nutraceuticals. Major players are launching varied product ranges tailored to local consumer preferences and health needs which is propelling the demand.

Market key trends:
The MENA Nutraceuticals Market Share is witnessing high growth due to increasing health consciousness among consumers in the Middle East and North Africa. The youth population in the MENA region is increasingly adopting a preventive healthcare approach and consuming nutraceutical products with vitamins, minerals, proteins and probiotics to boost their immunity and overall well-being. The ease of availability of these products through retail stores and online channels is further supporting the growth of the nutraceuticals market in MENA.

SWOT Analysis
Strength: Growing health consciousness and demand for preventive healthcare products in the youth population of MENA.
Weakness: Lack of awareness about legitimate nutraceutical products.
Opportunity: Scope for nutraceutical manufacturers to introduce new products customized for the Middle Eastern diet and culture.
Threats: Stringent regulatory norms and counterfeiting of nutraceutical products.

Key Takeaways
The MENA nutraceuticals market size was valued at US$ 14.93 Bn in 2023. The market is expected to grow at a robust CAGR of 7.2% during 2023-2030 driven by increasing focus on preventive healthcare and demand for immunity-boosting products in the region.

Regional analysis: The Gulf countries dominate the MENA nutraceuticals market with Saudi Arabia being the largest market. Presence of busy lifestyles and high healthcare expenditure provide an impetus to nutraceutical sales. Furthermore, UAE is projected to be the fastest growing market in the MENA region over the forecast period.

Key players: Key players operating in the MENA nutraceuticals market are Nestlé, Nutricia, Unilever, Bionova, BASF SE, Abbott, Arkopharma Laboratories, GSK plc., ADM (Archer Daniels Midland Company), DuPont, Kellogg's Company, Arla Foods amba, DSM, Quantum Naturals Ltd., Adcock Ingram, Ascendis Health Limited, iNova Pharmaceuticals, Vital Health Foods, Jamjoom Pharma, Creso Pharma, and ConnOils LLC.

Read More: https://www.timessquarereporter.com/business/mena-nutraceuticals-market-estimated-to-witness-high-growth-owing-to-rising-health-consciousness-and-growing-geriatric-population