Shots:
- Nutraceuticals offer significant health benefits by enhancing body function and supporting body repair and growth
- In 2024, the global nutraceuticals market is valued at $458.55B and is projected to rise to $986.85B by 2032, growing at a CAGR of 10.18%. Nestlé leads the market with reported segment revenue of $16.75B, followed by Danone and Ingredion with $15.76B and $8.16B, respectively
- PharmaShots presents a concise report on the Top 20 Nutraceutical Companies based on the reported nutritional segment revenue of 2024.
| Companies | Nutraceutical Revenues (2024 $B) | Nutraceutical Revenues (2023 $B) | Percentage Change (%) |
| Nestle S.A. | 16.75 | 18.14 | 7.66 |
| Danone | 9.3 | 9.38 | 0.85 |
| Ingredion | 8.16 | 7.43 | 8.94 |
| Herbalife | 4.99 | 5.06 | 1.38 |
| Givaudan | 4.15 | 4.28 | 3.03 |
| Archer Daniels Midland Company | 3.94 | 3.63 | 8.53 |
| Glanbia | 3.83 | 3.62 | 5.8 |
| Otsuka | 3.53 | 3.42 | 3.21 |
| Yakult Honsha | 3.18 | 3.56 | 10.67 |
| DSM-Firmenich | 2.95 | 3.09 | 4.53 |
| Reckitt | 2.69 | 3.06 | 12.09 |
| International Flavors & Fragrances Inc. | 2.21 | 2.08 | 6.25 |
| Bellring Brands | 2.09 | 1.73 | 20.8 |
| BASF SE | 2.06 | 2.35 | 12.34 |
| Tate & Lyle | 2.02 | 1.75 | 15.42 |
| Meiji Holdings | 0.83 | 0.82 | 1.21 |
| Nu Skin | 0.75 | 0.88 | 14.77 |
| USANA Health Sciences | 0.74 | 0.8 | 7.5 |
| Medifast | 0.6 | 1.07 | 43.92 |
| Jamieson Wellness | 0.51 | 0.51 | 0.003 |
Note: These companies are ranked based on their nutraceuticals segment revenue.
20. Jamieson Wellness
Total Revenue: $0.51B
Founded Year: 1922
Total Employees: 1,336
Headquarters: Toronto, Canada
Market Cap: $1.10B
Stock Exchange: TSE
- Jamieson Wellness is a Canada-based multinational pharmaceutical company focused on manufacturing and distributing natural health products
- The company offers solutions through several brands, including Jamieson, Youtheory, Progressive, Smart Solutions, Iron Vegan, and Precision
- In 2024, Jamieson’s revenue increased by 0.003% compared to 2023 driven by continued strong consumer consumption and an increase in strategic partners segment revenue
19. Medifast
Total Revenue: $0.6B
Founded Year: 1989
Total Employees: ~500
Headquarters: Baltimore, Maryland
Market Cap: $155.74M
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 2024, Medifast revenue registered a sharp decline of 43.92% compared to 2023 due to decreased product sales
18. USANA Health Sciences
Total Revenue: $0.74B
Founded Year: 1992
Total Employees: 1,700
Headquarters: Utah, United States
Market Cap: $566.89M
Stock Exchange: NYSE
- USANA is a global DTC nutrition and personal wellness company that develops and manufactures nutritional, dietary supplements, and skincare products
- 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 2024, the company reported a decline of 7.5% in its revenue, partly due to lower sales in Asia Pacific
17. Nu Skin
Total Revenue: $0.75B
Founded Year: 1984
Total Employees: 3,100
Headquarters: Utah, United States
Market Cap: $379.49M
Stock Exchange: NYSE
- Nu Skin is a global company that develops and distributes beauty and personalized wellness solutions by integrating science, technology, and nature
- Rhyz is the company’s business arm, which encompasses manufacturing, consumer, and technology companies. Pharmanex LifePak and ageLOC Meta are among the well-known nutritional products of the company
- In 2024, Nu Skin’s revenue declined by 14.77% compared to 2023, due to slightly lower sales than 2023
16. Meiji Holdings
Total Revenue: $0.83B
Founded Year: 2009
Total Employees: ~17,300
Headquarters: Tokyo, Japan
Market Cap: $6.16 B
Stock Exchange: TYO
- Meiji Holdings is a Japan-based health and confectionary company that manufactures and markets 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 2024, the company’s revenue increased by 1.21% compared to 2023 due to increased sales of nutrition products
15. Tate & Lyle
Total Revenue: $2.02B
Founded Year: 1921
Total Employees: ~3,300
Headquarters: London, UK
Market Cap: $3.17B
Stock Exchange: LON
- 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 2024, Tate & Lyle’s revenue increased by 15.42% compared to 2023, due to increased sales of nutraceuticals
14. BASF
Total Revenue: $2.06B
Founded Year: 1865
Total Employees: ~111,800
Headquarters: Rhineland-Palatinate, Germany
Market Cap: $43B
Stock Exchange: ETR
- 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 2024, BASF’s revenue decreased by 12.34% compared to 2022 due to lower sales in its nutrition segment
13. Bellring Brands
Total Revenue: $2.09B
Founded Year: 2019
Total Employees: ~400
Headquarters: Missouri, United States
Market Cap: $7.72B
Stock Exchange: NYSE
- BellRing Brands is a consumer product company that provides ready-to-drink protein shakes, beverages, and nutrition bars among others
- Bellring’s two leading brands that contribute most to its revenue are Premier Protein and Dymatize
- In 2024, the company’s revenue increased by 20.8% compared to 2023 due to its increased sales
12. International Flavors & Fragrances (IFF)
Total Revenue: $2.21B
Founded Year: 1958
Total Employees: 22,400
Headquarters: New York, United States
Market Cap: $19.16B
Stock Exchange: NYSE
- IFF manufactures and markets food, beverages, health & biosciences, scent and pharma solutions globally
- The company operates in four main segments: Nourish and Health & Biosciences, Scent and Pharma Solutions. The company’s product line includes soy protein isolates, probiotics, and plant-based proteins
- In 2024, the company’s revenue increased by 6.25% compared to 2023 due to volume increases across various business units, and price increases across cultures & food enzymes, and grain processing business units
11. Reckitt
Total Revenue: $2.69B
Founded Year: 1840
Total Employees: ~35,100
Headquarters: Bershire, United Kingdom
Market Cap: $47.69B
Stock Exchange: LON
- Reckitt is a British multinational consumer goods company that is home to brands like Dettol, Vanish, and Strepsils among others
- Reckitt operates under three business segments hygiene, health, and nutrition. Enfamil and Airborne are among the nutrition products that the company offers
- In 2024, Reckitt reported a dip of 12.09% in its revenue as compared to 2023, driven by lower volume
10. DSM-Firmenich
Total Revenue: $2.95B
Founded Year: 1902
Total Employees: ~26,300
Headquarters: Maastricht, Netherlands
Market Cap: $29.04B
Stock Exchange: OTCMKTS
- DSM-Firmenich is a global company specializing in innovation, manufacturing, and marketing of essential nutrients, flavors, and fragrances for industries including nutrition, health, beauty, and food & beverages
- The company operates in three segments taste, texture & health, health, nutrition & care, and animal nutrition & health. It manufactures a wide range of nutritional products, including vitamins, nutritional lipids, carotenoids, minerals, and other specialty food ingredients
- In 2024, DSM reported a 4.53% year-over-year revenue decline in USD, though it recorded growth in euros, reflecting currency exchange impact
9. Yakult Honsha
Total Revenue: $3.18B
Founded Year: 1935
Total Employees: ~29,600
Headquarters: Tokyo, Japan
Market Cap: $6.61 B USD
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 2024, Yakult Honsha’s revenue decreased by 10.67% compared to 2023, driven by lower sales
8. Otsuka Holdings
Total Revenue: $3.53B
Founded Year: 2008
Total Employees: ~35,300
Headquarters: Tokyo, Japan
Market Cap: $26.29B
Stock Exchange: TYO
- Otsuka Holdings is a Japanese pharmaceutical company that manufactures and sells pharmaceuticals, nutraceutical products, pharmaceuticals, and consumer products
- The company operates in two segments: Pharmaceuticals and Nutraceuticals. Popular products include Pocari Sweat, Soyjoy, and Nature Made supplements
- In 2024, Otsuka’s revenue increased by 3.21% compared to 2023 due to strong sales of its flagship nutraceutical products
7. Glanbia
Total Revenue: $3.83B
Founded Year: 1997
Total Employees: ~5,800
Headquarters: Kilkenny, Ireland
Market Cap: $3.84B
Stock Exchange: LON
- Glanbia, a multinational Irish company, focuses on sports nutrition, cheese, dairy ingredients, specialty non-dairy ingredients, and vitamin and mineral premixes
- Glanbia primarily focuses on Performance Nutrition, Health & Nutrition, and Dairy Nutrition segments. Avonlac and Provon CFM are among the company’s well-known products
- In 2024, Glanbia’s revenue increased by 5.8% compared to 2023, majorly driven by volume increase
6. Archer Daniels Midland (ADM)
Total Revenue: $3.94B
Founded Year: 1902
Total Employees: 44,000
Headquarters: Chicago, United States
Market Cap: $25.94B
Stock Exchange: NYSE
- ADM is a global provider of a wide array of probiotics, enzymes, supplements, and other consumer products that enhance health and well-being
- 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 2024, ADM’s revenue increased by 8.53% compared to 2023, primarily due to higher sales in the nutrition segment
5. Givaudan
Total Revenue: $4.15B
Founded Year: 1895
Total Employees: ~16,900
Headquarters: Vernier, Geneva
Market Cap: $45.94B
Stock Exchange: SWX
- Givaudan is a Swiss multinational company that develops, markets and commercializes flavors, fragrances, and active cosmetic ingredients
- The company operates in two business segments: Taste & well-being and fragrance & beauty. The company’s well-known products include OatWell and Pacran among others
- In 2024, the company showed a decline in its revenue by 3.03% as compared to 2023 in USD, though it recorded growth in euros, reflecting currency exchange impact
4. Herbalife Nutrition
Total Revenue: $4.99B
Founded Year: 1980
Total Employees: 8,600
Headquarters: California, United States
Market Cap: $823.94M
Stock Exchange: NYSE
- Herbalife Nutrition is a global health and wellness company that develops, markets, and commercializes dietary supplements, weight management, sports nutrition, and personal-care products
- The company operates in several markets including North America, Mexico, South & Central America, EMEA, and Asia Pacific. Popular products include Formula 1, Herbal Tea Concentrate, and Protein Drink Mix
- In 2024, Herbalife’s revenue decreased by 1.38% compared to 2023, largely due to lower sales in Asia Pacific and North America
3. Ingredion
Total Revenue: $7.43B
Founded Year: 1906
Total Employees: 11,200
Headquarters: Illinois, United States
Market Cap: 8.80B USD
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 2024, Ingredion’s revenue decreased by 8.94% compared to 2023 driven by a lower price mix and reduced net sales from the sale of its South Korea business
2. Danone
Total Revenue: $9.3B
Founded Year: 1919
Total Employees: ~89,500
Headquarters: Paris, France
Market Cap: $56.01B
Stock Exchange: EPA
- Danone is a multinational food-products corporation specializing in dairy and plant-based products, water, early-life nutrition, and medical nutrition
- The company makes products in three categories viz. EDP, Specialized Nutrition, and Waters. Popular products include Activia, Evian, and Aptamil
- In 2024, Danone reported 0.85% year-over-year revenue decline in USD, though it recorded growth in euros, reflecting currency exchange impact
1. Nestlé
Total Revenue: $16.75B
Founded Year: 1866
Total Employees: 2,77,000
Headquarters: Vevey, Switzerland
Market Cap: $261.088B
Stock Exchange: SWX
- Nestlé is a Swiss multinational food and drink processing conglomerate
- 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 2024, Nestlé reported a 7.66% year-over-year revenue decline in USD, though it recorded growth in euros, reflecting currency exchange impact
Sources:
- Annual reports
- SEC Filings
- Press releases
- Company websites
Market Cap Source: Google Finance (June 2024)
Currency Conversion: OANDA
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