Nutraceutical Market and its Regulation

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The definition of nutraceutical that appears in the latest edition of the Merriam-Webster Dictionary is as follows: A food stuff (as a fortified food or a dietary supplement) that provides health benefits. If indeed a claim was made that implied medicinal benefit regarding a nutraceutical product, the product would be required to comply with the regulatory requirements for medicinal products, in respect of safety, efficacy and quality testing and marketing authorisation procedures. Global market for nutraceuticals is growing day by day and it is expected to reach $176.7 billion in 2013, a compound annual growth rate (CAGR) of 7.4%.

Authors: 
Md. Faruque Ahmad
Authors: 
Syed Amir Ashraf
Authors: 
Fakhruddin Ali Ahmad
Authors: 
Javed Akhtar Ansari
Authors: 
Md. Rizwan Ahmad Siddiquee
Publisher: 
American Journal of Food Technology
Year: 
2010