DUBLIN--(BUSINESS WIRE)--The "Global Nutraceutical Ingredients Market by Type (Probiotics, Proteins, Amino Acids, Phytochemicals & Plant Extracts, Fibers & Specialty Carbohydrates), Application (Food, Beverages, Animal Nutrition, Dietary Supplements), Form & Region - Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The market for nutraceutical ingredients is estimated at USD 185.2 Billion in 2022; it is projected to grow at a CAGR of 7.2% to reach USD 261.7 Billion by 2027. Nutraceutical ingredients are substances that are used to improve health, prevent chronic diseases, increase life expectancy, slow the aging process, or support the body's systems. Nutraceutical ingredients are viewed as more of a preventive measure than a cure. Because these ingredients work on specific problems, they are frequently used as an ingredient in the formulation of products. Industries like food, beverage, dietary supplement, animal nutrition, and personal care are some of the most applied in their product formulation.
These products are becoming more popular in the market due to their nutritional benefits and compatibility with people's lifestyles. Immunity boosters, bone & health, cardiovascular health, mental wellness, infant nutrition, weight loss management, and other nutraceutical products are currently popular. People's awareness of health and holistic wellness has grown over the last few years. The fast-paced lifestyle of the majority of the population influenced the rise in the nutraceutical ingredient market as people began looking for alternative nutrition.
The probiotics nutraceutical product by type is projected to have the highest market share in terms of value in the nutraceutical ingredient market throughout the forecast period.
The increasing technological improvements and scientific advancement have made the probiotic industry grow over the last two decades. Probiotic strains are considered to be difficult and expensive to manufacture, as these strains need a special environment & medium to grow, temperature, and can take longer time to cultivate and cannot speed up the cultivation process. With the recent popularity of probiotics and their several health benefits, their market is estimated to observe growth in the nutraceutical ingredient market in the near future.
The Food segments by application are projected to have the highest market share in the global nutraceutical ingredient market.
Major companies have extensively invested in product development and innovation of nutraceutical food products. The companies have been targeting customers and understanding their needs to find better food solutions. As consumers are becoming health conscious and aware, the preference for balanced diets and healthy food has remained high. And because of their palatability, mouth feel and texture. Considering this, food producers started innovating products that can be a healthy alternative. Hence, their market is estimated to gain more market share in the nutraceutical ingredient market.
The dry ingredient, by form is projected to attain the fastest market growth in the nutraceutical ingredients market throughout the forecasted period
The wide application of a dry form of nutraceutical ingredients has been the key factor in its high market share as compared to the liquid form. Most nutraceutical food product formulation uses dry form of ingredients, which also depends on the product formulation. Dry ingredients are more stable, and have extended shelf life as compared to those of liquid form. Hence, dry form of ingredients is projected to attain fast market growth.
Market Dynamics
Drivers
- Growing Demand for Fortified Food due to Increased Health Consciousness Among Consumers
- Increase in Incidences of Chronic Diseases
- Mandates on Food Fortification by Government Organizations
Restraints
- Higher Costs of Fortified Products Dissuade Large-Scale Usage and Adoption
Opportunities
- Innovations in Nutraceutical Ingredients Industry
- Consumer Awareness of Micronutrient Deficiencies
Challenges
- Consumer Skepticism Associated with Nutraceutical Products
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Nutraceutical Ingredients Market, by Health Benefits
8 Nutraceutical Ingredients Market, by Type
9 Nutraceutical Ingredients Market, by Form
10 Nutraceutical Ingredients Market, by Application
11 Nutraceutical Ingredients Market, by Region
12 Competitive Landscape
13 Company Profiles
14 Adjacent & Related Markets
15 Appendix
Companies Mentioned
- ADM
- Ajinomoto Co. Inc.
- Arla Foods Amba
- Associated British Foods PLC
- Balchem Inc.
- BASF SE
- Beneo GmbH
- Cargill Incorporated
- Chr. Hansen Holding A/S
- Conagen, Inc.
- Divi's Laboratories Limited
- DSM
- Fonterra Co-Operative Group Limited
- Glanbia PLC
- Ingredion
- International Flavors & Fragrances Inc.
- Kerry Group PLC
- Kyowa Hakko Bio Co. Ltd.
- Martin Bauer
- Nexira
- Nutraceuticals Groups
- Probi
- Roquette Freres
- Sydler India Pvt. Ltd.
- Tate & Lyle
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