In recent times, the use of nutraceutical ingredients in the food and beverage sector along with animal feed stuff has been increasing which will lead to the growth of the global — nutraceutical ingredient market according to a business intelligence report published by IndustryARC. As per the report, the Nutraceutical ingredient market size was worth $31.4 billion in 2018 and the demand is projected to grow at an impressive compound annual growth rate (CAGR) of 6.80% during the forecast period of 2019 to 2025.
This resonates the finding in the IndustryARC’s business intelligence report titled “Nutraceutical Ingredients Market: By Type (Prebiotics, Probiotics, Vitamin Minerals); By Application (Functional Foods & Beverages, Dietary Supplements); By Form (Liquid, Powder); By Geography - Forecast (2019 - 2025),” which also states that nutraceutical market share is growing owing to the product’s ability to improve heath, increase life expectancy, avoid chronic diseases, and also delaying in aging process. This report covers nutraceutical ingredients Market Size by Product and applications, nutraceutical ingredients Market share by top 5 companies and also the market share by start-ups during the forecast period.
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Global Nutraceutical Ingredients Market: Leading Segments
APAC led the global nutraceutical ingredient market by contributing the maximum regional share of 37% in 2018. The market revenue generated is increasing in due to growing urbanization, population, and increasing disposable income in the developing economies such as China and India. Additionally, APAC is witnessing substantial growth since there is a stronghold of pharmaceutical and food and beverage manufacturers in the region.
Furthermore, the key application segment in the nutraceutical market is the dietary supplement: by application. Out of all, dietary supplement in the nutraceutical ingredient market is anticipated to witness healthy growth which is projected to propel at a standard CAGR of 6.80% during the forecast period.
Global Nutraceutical Ingredients Market: Market Trends and Growth Drivers
The world is changing so rapidly that the companies are now focusing on looking for water-soluble nutraceutical versions of ingredients into the food and beverages sector; stick packs and sachets for immediate consumption. They are even looking forward for multi-tasking ingredients to achieve their desired goals.
Botanical Veggies and Fruits Drinks
The major outlook by the companies are towards food. The companies are putting in efforts to manufacture botanical vegetable and fruit drinks. Mid-size companies like Lapovo from Japan and Healthy Link from Croatia have already started to produce and look for distributors in their market.
Nutrition for Beauty
In many countries the scientists are trying to add on more nutrition to the beauty products as per the consumers demand. Consumers want more innovation and scientifically based products for themselves. This requires nutraceutical ingredients that is helping the market to grow.
The consumers are these days more worried about their gut. The market is also targeting to manage the microbiota, how it can have a positive impact for wellbeing. The industry is trying to research to understand more advantages of nutraceutical ingredients.
Nutraceutical Ingredients with Flavors
The nutraceutical ingredients have a very unpleasant taste which is evident in the finished product. New technology and innovation is getting the taste better for functional food. They are working on introducing more flavors with nutritional goodness, hence this will have a very positive impact on the nutraceutical ingredient market.
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Global Nutraceutical Ingredient Market: Competitive Landscape
Some of the key companies identified in the report that are currently holding majority shares in the global nutraceutical ingredient market are Cargill, Incorporated, BASF SE, The Archer Daniels Midland Company, Associated British Foods plc, DowDuPont Inc., Arla Foods amba, Ingredion Incorporated, and Koninklijke DSM N.V.
A. Functional Food and Nutraceuticals Market
B. Nutricosmetic Ingredients Market
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