-- The global nutraceutical ingredients market size is expected to reach USD 277.46 Billion in 2028 and register a steady CAGR over the forecast period, according to latest analysis by Emergen Research.
The market for nutraceutical ingredients is a quickly expanding sector of the food and drug industry that deals with functional foods, dietary supplements, and pharmaceuticals made from natural sources. These substances have a wide range of health advantages and are rising in favour among people everywhere. The market is anticipated to have considerable expansion in the upcoming years, primarily due to rising chronic disease rates, rising consumer health consciousness, and rising demand for natural and organic food products.
The rising prevalence of lifestyle disorders including diabetes, hypertension, and obesity is one of the main factors driving the market for nutraceutical components. This has increased demand for functional foods and supplements that can help manage these conditions. As they are more prone to chronic diseases and need specialised nutrition, the expanding senior population is also an important driver. Additionally, the market is expanding as a result of the growing desire for vegan and plant-based diets, which are known to be healthier and more sustainable.
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Despite the market's potential for expansion, there are a number of issues that must be resolved. The absence of regulatory standards and norms governing the manufacture and distribution of nutraceutical components is one of the key obstacles. This may result in the sale of subpar or fake goods, which could be harmful to customers' health. Additionally, the high cost of manufacturing and distributing these materials creates a problem that makes it difficult for small-scale producers to compete with more established firms.
The market for nutraceutical ingredients is anticipated to continue to grow as a result of a number of factors, including the rising popularity of sports nutrition products among athletes and fitness enthusiasts, the rising demand for fortified foods and beverages that provide essential nutrients, and the growing understanding of the health advantages of dietary fibres and probiotics. Additionally, it is anticipated that the market would expand in the upcoming years due to the rising demand for nutraceuticals in emerging economies, notably in Asia Pacific.
Nutraceutical Ingredients Market Segmentation:
The nutraceutical ingredients market is segmented based on various factors such as form, type, and application. Based on the form, the market is categorized into liquid and dry nutraceutical ingredients. The liquid nutraceutical ingredients segment is expected to witness significant growth in the coming years due to the increasing demand for liquid supplements and functional beverages. The dry nutraceutical ingredients segment is also expected to grow steadily due to the ease of transportation and storage of these ingredients.
Based on type, the market is segmented into proteins and amino acids, probiotics, prebiotics, vitamins, minerals, carotenoids, phytochemical and plant extracts, omega 3 fatty acids, fibers and specialty carbohydrates, and others. Among these, the vitamins segment is expected to witness significant growth due to the increasing awareness of the health benefits of vitamins and their widespread use in dietary supplements. The fibers and specialty carbohydrates segment is also expected to grow due to the rising demand for fiber-rich foods and supplements.
Based on application, the nutraceutical ingredients market is categorized into beverages, food, animal nutrition, personal care, and dietary supplements. Among these, the dietary supplements segment is expected to witness significant growth due to the increasing popularity of natural and organic supplements among health-conscious consumers. The beverages segment is also expected to grow due to the rising demand for functional and fortified beverages.
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Some Key Highlights from the Report
The dry nutraceutical ingredients segment accounted for the largest revenue share in 2020 due to various factors. Dry ingredients have a longer shelf life compared to liquid ingredients and are easier to transport and store.
The probiotic segment of the nutraceutical ingredients market is expected to register a rapid Compound Annual Growth Rate (CAGR) during the forecast period due to several reasons. Probiotics are live microorganisms that provide numerous health benefits to the human body, especially to the digestive system.
The food segment accounted for a significantly large revenue share in the nutraceutical ingredients market in 2020 due to several factors. Consumers are increasingly aware of the link between diet and health, and are seeking out food products that offer functional benefits beyond basic nutrition.
Asia Pacific accounted for the largest revenue share contribution to the global nutraceutical ingredients market in 2020 due to several reasons. The region has a large population and a growing middle class with increasing disposable incomes, which has led to a rise in health awareness and a growing demand for functional foods and dietary supplements.
Major companies in the market include Associated British Foods plc, Arla Foods, DSM, Ingredion Incorporated, Tate & Lyle, Ajinomoto Co., Inc., Chr Hansen Holding A/S, Glanbia plc, Cargill, Inc., and Archer-Daniels-Midland Company.
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