Precedence Research’s latest report on the global nutraceutical ingredients market provides an analysis for the period of 2016 to 2027, wherein, 2020 is the base year, 2016 and before is historical data, and 2020 to 2027 is the forecast period.
The global nutraceutical ingredients market size was valued at US$ 161.2 Billion in 2019 and is projected to reach US$ 225.7 Billion by 2027, rising at a market growth (CAGR) of 7.3% during the forecast period.
Precedence Research provides an in-depth analysis of market size, share analysis, Industry growth, market valuation, market dynamics which includes drivers, restraints, opportunities, trends, challenges, market segmentation, competitive landscape, regional and country breakdowns, and strategies for nutraceutical ingredients market. The study reviews the global industry by-products or services offered, downstream fields, end using customers, historic data figures regarding revenue and sales, market context, and more.
The report comprises a detailed value chain analysis, which provides a comprehensive view of this market. The Porter’s Five Forces model for the global market has also been included to help understand the competitive landscape. The study covers market attractiveness analysis, wherein resin types are benchmarked based on their market value, growth rate, and general attractiveness.
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Due to growing consumer demand for nutraceutical products such as probiotics, prebiotics, and vitamins, the global market for nutraceutical ingredients is expected to rise at a significant pace. The ingredients of nutraceuticals are derived from animals, plants, microbials and help provide food products with additional nutritional value. They are gluten-free and do not contain artificial colors and flavors, which makes them a healthy alternative to conventional products.
Nutraceutical is a material that adds nutritional value to the diet, known as a meal or part of a meal. It is also classified as a functional food that contains standardised and pharmaceutical-grade nutrients. The item functions by diet & works to prevent diseases as a source of nutritional supplement to the body. Rising chronic disease penetration will fuel the demand for nutraceutical ingredients. Key properties can help product penetration, including prevention of heart artery hardening and cholesterol, blood clotting & inflammation reduction. Consumer demand will be driven by increasing concern about longer life spans and future application reach in the animal nutrition and food & beverage industry.
Market growth is driven by factors such as the growth in demand for fortified foods due to a rising knowledge of health among consumers. Growing incidences of chronic diseases globally and mandates for food fortification by government organisations are key drivers for the growth of the industry. Different producers of nutraceutical ingredients are increasingly embracing personalised healthcare innovations to formulate better-suited and tailored end products for customers. Increasingly, consumer product businesses are now gathering data to allow a proper analysis of buying habits and lifestyle and provide customers with personalised choices in line with their buying trends.
The global nutraceutical ingredients market has been driven by growth in life expectancy & health awareness among customers and increased applications of nutraceutical ingredients. The high costs involved in R&D activities, on the other hand, could impede market growth at a global level.
North America is prominent revenue contributor to the global nutraceutical Ingredients industry because of significant demand for healthy food among customers. Owing to rise in anti-aging properties, the rising demand for nutraceutical products has led North America to become a prominent region in the industry. Due to the involvement of major pharmaceuticals and food & beverage producers, the Asia Pacific has seen substantial growth in the past few years. Growing consumer spending on health and wellness goods is likely to be a key factor driving the growth of industry in economies such as the Middle East & Africa and Asia Pacific due to changing lifestyles and increasing disposable income.
- North America showed prominent growth in the global nutraceutical Ingredients market in 2019 because of growing demand for nutraceutical products.
- India, which accounted for almost 31.5 percent of the market share in 2019, totally drives the Asia Pacific market for nutraceutical ingredients.
- As the market for dietary supplements and functional foods in dry form is growing, manufacturing companies are selling products in dry form, either in capsule form or compressed into tablets.
- Manufacturing companies are selling dry goods in increasing demand for nutritional supplements and functional foods in dry form; these are either available in capsule form or compressed into tablets.
Key Players of the global nutraceutical ingredients market are:
- Kraft Heinz Company
- Cargill Inc.,
- Archer Daniels Midland
- General Mills
- Aker Biomarine
- Procter & Gamble
- Johnson & Johnson
Segments Covered in the Report:
- Proteins and amino acids
- Phytochemical & plant extracts
- Fibers & specialty carbohydrates
- Omega 3 fatty acids
- Personal care
- Animal nutrition
- Dietary supplements
By Health Benefits
- Cognitive health
- Gut health
- Heart health
- Bone health
- Weigh management
- North America (United States, Canada)
- Europe (Germany, France, UK, Italy, Russia, and Rest of Europe)
- Asia-Pacific (China, Japan, India, Southeast Asia, Korea, and Rest of Asia Pacific)
- Latin America (Brazil and the Rest of Latin America)
- The Middle East and Africa (GCC, North Africa, South Africa, and Rest of the Middle East & Africa)
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Carolina is an author who specializes in covering healthcare, chemical, and the automotive industry. Before joining Market Stats News, Carolina covered some of the biggest companies in Silicon Valley for the San Jose Mercury News. She loves all things French and the written word. Articles by Carolina