Shots:

• Nutraceuticals offer miraculous health benefits by enhancing body function and assisting in body repair and growth
• In 2023, the global Nutraceuticals market was valued at $419.93B and is expected to increase from $457.35B in 2024 to $976.74B by 2032 with a CAGR of 9.95 percent. Nestlé ranks first on our list with reported segment revenue of $18.18B, followed by Danone and BASF SE with $9.38B and $7.61B, respectively
• PharmaShots presents a concise report on the Top 20 Nutraceutical Companies based on the reported nutritional segment revenue of 2023 

Note: Columns 1 and 2 represent ranks and companies, while Columns 3, 4, and 5 showcase the total revenue of 2022, the total revenue of 2023, and the percentage change.

20. Aker BioMarine

Total Revenue: $335.3M

Founded Year: 2006

Total Employees: ~400

Headquarters: Oslo, Norway

Market Cap: $6.85 B

Stock Exchange: OSE

• Aker BioMarine is a biotech company that harvests krill products through a secure catch and process chain and develops ingredients for nutraceuticals.
• The company operates in two segments: Ingredients (production of krill oil & meal, human health & nutrition, and animal health & nutrition) and Brands (Lang Pharma, and Epion). SuperbaKrill is one of Aker's well-known products.
• In 2023, Aker's total revenue increased by 20.95% compared to 2022 due to high sales of Krill oil and Qrill (branded product). In 2023, LYSOVETA, Aker’s brain health ingredient, received NDI status in the U.S.

19. Nature's Sunshine

Total Revenue: $445.32M

Founded Year: 1972

Total Employees: 800

Headquarters: Lehi, United States

Market Cap: $0.28B

Stock Exchange: NASDAQ

• Nature’s Sunshine, an American natural health and wellness company, focuses on dietary supplements, including herbs, vitamins, minerals, and personal care products.
• The company operates in segments including Asia, Europe, North America, and Latin America & Other. It categorizes its products into general health, immune, cardiovascular, digestive, personal care, and management. Products include Probiotic Eleven and Food Enzymes.
• In 2023, the company revenue spiked by 5.54% compared to 2022, mainly due to increased sales in Asia, Europe, and North America.

18. Perrigo

Total Revenue: $580.7M

Founded Year: 1887

Total Employees: ~9,100

Headquarters: Dublin, Ireland

Market Cap: $3.60B

Stock Exchange: NYSE

• Perrigo is an American Irish registered self-care company that serves people globally with its health and wellness products.
• The company operates in two segments: Consumer Self-Care Americas and Consumer Self-Care International. Nutritional shakes and pediatric shakes are some products the company manufactures.
• In 2023, Perrigo registered a dip of 1.99% in its revenue compared to 2022 due to lower sales in Latin America.

17. Jamieson Wellness

Total Revenue: $676.17M

Founded Year: 1922

Total Employees: ~1,200

Headquarters: Toronto, Canada

Market Cap: $0.83B

Stock Exchange: TSX

• Jamieson Wellness, a Canada-based multinational pharmaceutical company, manufactures and distributes natural health products.
• The company offers solutions through several brands, including Jamieson, Youtheory, Progressive, Smart Solutions, Iron Vegan, and Precision.
• In 2023, Jamieson's revenue increased by 23.53% compared to 2022 due to an expanding consumer base and international expansion.

16. USANA Health Sciences

Total Revenue: $801.2M

Founded Year: 1992

Total Employees: 1,800

Headquarters: Salt Lake City, Utah, United States

Market Cap: $0.93B

Stock Exchange: NYSE

• USANA is an American company that produces most of its nutritional products, dietary supplements, and skincare products at a West Valley City facility.
• The company operates in segments like Direct Selling and All Others. BiOmega-3, Proflavanol, and CoQuinone 30 are among the products in the USANA nutritional segment.
• In 2023, the company reported a decline of 7.77% in its revenue, partly due to lower sales in Greater China.

15. Meiji Holdings

Total Revenue: $878.05M

Founded Year: 2009

Total Employees: ~17,300

Headquarters: Tokyo, Japan

Market Cap: $6.59B

Stock Exchange: TYO

• Meiji Holdings is a Japan-based company that produces and markets health and wellness products and medication.
• Meiji operates in two segments: Food and Pharmaceuticals. The company's nutritional offerings include Meiji Mei Balance, Savas, Infant Formula, Follow-Up Formula, and Meiji Amino Collagen.
• In 2023, the company's revenue increased by 0.72% compared to 2022 due to increased sales of nutrition products.

14. Glanbia

Total Revenue: $1.00B

Founded Year: 1997

Total Employees: ~5,500

Headquarters: Kilkenny, Ireland

Market Cap: $5.379B

Stock Exchange: LSE

• Glanbia, a multinational Irish company, focuses on sports nutrition, cheese, dairy ingredients, specialty non-dairy ingredients, and vitamin and mineral premixes.
• The company majorly focuses on Nutritional Solutions and the US Cheese segment. Avonlac and Provon CFM are among the well-known products of the company.
• In 2023, Glanbia's revenue declined by 15.25% compared to 2022, attributed to decreased volume and high pricing.

13. Medifast

Total Revenue: $1.07B

Founded Year: 1989

Total Employees: ~600

Headquarters: Baltimore, Maryland, United States

Market Cap: $0.24B

Stock Exchange: NYSE

• Medifast is a health and wellness company focusing on medically supported weight loss and sports nutrition markets.
• The company operates in a single segment named Optavia. Optavia Fuelings and Lean & Green are products under Optavia.
• In 2023, Medifast revenue registered a sharp decline of 32.7% compared to 2022 due to fewer active earning Optavia Coaches and poorer productivity per coach.

12. Bellring Brands

Total Revenue: $1.73B

Founded Year: 2019

Total Employees: 420

Headquarters: St. Louis, Missouri, United States

Market Cap: $7.96B

Stock Exchange: NYSE

• With a global presence, Bellring is a wholly owned subsidiary of Post Holdings that develops and delivers nutritious products for everyday use.
• Bellring's core brands are Premier Protein and Dymatize, but the company also produces and sells additional goods like ready-to-drink (RTD) protein shakes, powders, and other nutritional supplements.
• In 2023, the company's revenue increased by 21.83% compared to 2022 due to its focus on improving customer retention and international expansion.

11. Tate & Lyle

Total Revenue: $1.75B

Founded Year: 1921

Total Employees: ~4,300

Headquarters: London, UK

Market Cap: $3.52B

Stock Exchange: LSE

• Tate & Lyle is a multinational company that uses its expertise in ingredient formulation to create solutions for the food, beverage, and industrial markets.
• The company focuses on high-performance sweeteners, texturants, fiber, and stabilizers. Popular products include Promitor, Hamulsion, and PromOat.
• In 2023, Tate & Lyle's revenue increased by 2.94% compared to 2022 due to strategic acquisitions and organic growth in the food and beverage market.

10. International Flavors & Fragrances

Total Revenue: $2.08B

Founded Year: 1958

Total Employees: 24,400

Headquarters: New York, United States

Market Cap: $25.03B

Stock Exchange: NYSE

• IFF is a leading innovator in food, beverage, health, biosciences, and sensory experiences.
• The company operates in two main segments: Nourish and Health & Biosciences. Their product line includes soy protein isolates, probiotics, and plant-based proteins.
• In 2023, the company's revenue decreased by 10.72% compared to 2022 due to challenges in integrating acquisitions and raw material price volatility.

9. Royal DSM

Total Revenue: $3.09B

Founded Year: 1902

Total Employees: ~23,000

Headquarters: Heerlen, Netherlands

Market Cap: $0.72B

Stock Exchange: OTCMKTS

• Royal DSM is a global science-based company active in nutrition, health, and sustainable living.
• The company's primary segments are Nutrition and Materials. It provides a wide range of nutritional products, including vitamins, nutritional lipids, carotenoids, minerals, and other specialty food ingredients.
• In 2023, DSM's revenue declined by 3.43% compared to 2022 due to lower sales in the animal nutrition market.

8. Yakult Honsha

Total Revenue: $3.37B

Founded Year: 1935

Total Employees: ~7,250

Headquarters: Tokyo, Japan

Market Cap: $6.25B

Stock Exchange: TYO

• Yakult Honsha is a Japanese multinational corporation specializing in the production and distribution of probiotics.
• The company primarily offers probiotic beverages and nutritional products. Yakult and Yakult Light are some of the company's well-known products.
• In 2023, Yakult Honsha’s revenue increased by 0.89% compared to 2022, driven by higher sales in Japan and international markets.

7. Otsuka Holdings

Total Revenue: $3.42B

Founded Year: 1964

Total Employees: ~47,000

Headquarters: Tokyo, Japan

Market Cap: $23.13B

Stock Exchange: TYO

• Otsuka Holdings is a Japanese pharmaceutical company that manufactures and sells nutraceutical products, pharmaceuticals, and clinical testing services.
• The company operates in two segments: Pharmaceuticals and Nutraceuticals. Popular products include Pocari Sweat, Soyjoy, and Nature Made supplements.
• In 2023, Otsuka's revenue increased by 2.70% compared to 2022 due to strong sales of its flagship nutraceutical products.

6. Archer Daniels Midland

Total Revenue: $3.63B

Founded Year: 1902

Total Employees: ~38,000

Headquarters: Chicago, Illinois, United States

Market Cap: $30.20B

Stock Exchange: NYSE

• ADM is a global leader in human and animal nutrition and the world’s premier agricultural origination and processing company.
• The company operates in three segments: Ag Services and Oilseeds, Carbohydrate Solutions, and Nutrition. ADM's product portfolio includes proteins, probiotics, fibers, and other specialty ingredients.
• In 2023, ADM’s revenue decreased by 3.45% compared to 2022, primarily due to lower sales in the nutrition segment.

5. Herbalife Nutrition

Total Revenue: $5.06B

Founded Year: 1980

Total Employees: ~8,900

Headquarters: Los Angeles, California, United States

Market Cap: $1.12B

Stock Exchange: NYSE

• Herbalife Nutrition is a global multi-level marketing corporation that develops, markets, and sells dietary supplements, weight management, sports nutrition, and personal-care products.
• The company operates in several segments including North America, Mexico, South & Central America, EMEA, and Asia Pacific. Popular products include Formula 1, Herbal Tea Concentrate, and Protein Drink Mix.
• In 2023, Herbalife's revenue decreased by 2.69% compared to 2022, largely due to lower sales in Asia Pacific and North America.

4. Ingredion

Total Revenue: $5.14B

Founded Year: 1906

Total Employees: ~12,000

Headquarters: Westchester, Illinois, United States

Market Cap: $7.61B

Stock Exchange: NYSE

• Ingredion is a leading global ingredients solutions company specializing in nature-based sweeteners, starches, and nutrition ingredients.
• The company’s product line includes plant-based proteins, fiber ingredients, and sweeteners.
• In 2023, Ingredion's revenue increased by 4.25% compared to 2022 due to strategic acquisitions and growth in the food and beverage market.

3. BASF

Total Revenue: $7.61B

Founded Year: 1865

Total Employees: ~111,000

Headquarters: Ludwigshafen, Germany

Market Cap: $45.63B

Stock Exchange: FRA

• BASF is a global chemical company that creates chemistry for a sustainable future.
• The company operates in several segments including Chemicals, Materials, Industrial Solutions, Surface Technologies, Nutrition & Care, and Agricultural Solutions. BASF's nutrition segment provides a wide range of vitamins, carotenoids, enzymes, and omega-3s for human and animal nutrition.
• In 2023, BASF’s revenue decreased by 12.42% compared to 2022 due to lower sales in its nutrition segment.

2. Danone

Total Revenue: $9.38B

Founded Year: 1919

Total Employees: ~100,000

Headquarters: Paris, France

Market Cap: $43.77B

Stock Exchange: Euronext

• Danone is a multinational food-products corporation specializing in dairy and plant-based products, water, early-life nutrition, and medical nutrition.
• The company operates in four segments: Essential Dairy and Plant-Based Products, Waters, Early Life Nutrition, and Medical Nutrition. Popular products include Activia, Evian, and Aptamil.
• In 2023, Danone's revenue increased by 5.15% compared to 2022 due to strong sales in early-life nutrition and medical nutrition segments.

1. Nestlé

Total Revenue: $18.18B

Founded Year: 1867

Total Employees: ~273,000

Headquarters: Vevey, Switzerland

Market Cap: $287.36B

Stock Exchange: SWX

• Nestlé is a Swiss multinational food and drink processing conglomerate corporation.
• The company operates in several segments including Powdered and Liquid Beverages, Water, Milk Products and Ice Cream, Nutrition and Health Science, Prepared Dishes and Cooking Aids, Confectionery, and PetCare. Popular products include NAN, Nido, and Boost.
• In 2023, Nestlé's revenue increased by 7.06% compared to 2022 due to strong sales in its nutrition and health science segment.

Sources:  

• Annual reports  
• SEC Filings  
• Press releases  
• Company websites  

Market Cap Source: Google Finance (June 2024)  

Currency Conversion: X-Rates (June 2024)    

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