The Nutraceutical Ingredients Market Size is valued at 192.83 Billion in 2023 and is predicted to reach 320.28 Billion by the year 2031 at a 6.76 % CAGR during the forecast period for 2024-2031.
Functional foods and beverages can add nutraceutical ingredients to boost their nutritional content. The finished food item's sensory attributes, flavour, and appearance are also improved. They maintain healthy body composition, boost immunity, slow down the ageing process, and prevent chronic diseases. The primary element boosting market revenue growth is the rising prevalence of chronic diseases like diabetes, cardiovascular conditions, and obesity among the growing population.
It has been demonstrated that nutritional supplements can improve bone, eye, and tumour health and cardiovascular and skin health, control diabetes, boost immunity and enhance immunity. These factors fuel an increase in demand from manufacturers of dietary supplements for nutraceutical ingredients. The growing interest in health and fitness drives demand for nutraceutical ingredients derived from plants, animals, synthetics, and microbes.
The government's increased emphasis on addressing malnutrition and undernutrition in developing nations is anticipated to fuel the market for nutraceutical ingredients during the forecast period. The government and business stakeholders' increased awareness campaigns about the health advantages of nutraceutical ingredients are essential drivers of the goods' rising demand. Significant market growth factors include innovation, adequate finance, regulatory support by introducing conductive measures, and tax subsidies.
Market Segmentation:
The Nutraceutical Ingredients market is segmented into type, application, health benefits and Products. Based on type, the market is segmented into probiotics, Proteins and amino acids, Phytochemical & plant extracts, Fibers & speciality carbohydrates, Omega 3 fatty acids, Vitamins, Prebiotic, Carotenoids, Minerals and Others. Based on the application, the Nutraceutical Ingredients are segmented into Food, Beverages, Personal care, Animal nutrition and Dietary supplements. Based on health benefits, the market is segmented into Cognitive health, Gut health, Heart health, Bone health, Immunity, Nutrition, Weight Management and Others. Based on ingredients form, the market is segmented into Dry and Liquid.
Based On Type, The Probiotic Segment Is Accounted As A Major Contributor To The Nutraceutical Ingredients Market.
The nutraceutical ingredients market's probiotic sector had the largest revenue share. Due to the rising demand for fortified foods and dietary supplements, probiotics are the conventional nutraceutical ingredients predicted to expand faster over the coming years. Probiotics' advancement and the introduction of new probiotic products are predicted to result in significant food and beverage firms investing more money in research and development. The need for probiotics is rising due to the increased popularity of probiotic yogurt, which has seen rising sales in recent years.
The Food Segment Witnessed Growth At A Rapid Rate.
The food category accounted for the nutraceutical ingredients market's largest revenue share. The increased use of nutraceutical additives in the food industry results from the health benefits they give. The market demand for food items based on nutraceutical ingredients is rising due to the rising prevalence of chronic diseases and the ageing population. The increasing need to improve food items' nutritional content is anticipated to increase the use of nutraceutical additives in the food industry throughout the forecast period. Growing awareness about health and fitness among consumers is resulting in the increased demand for functional foods such as vitamin-enriched products, as it is believed to add health and wellness advantages.
The Asia Pacific Nutraceutical Ingredients Market Holds A Significant Revenue Share In The Region.
The Asia Pacific Nutraceutical Ingredients market is expected to register the highest market share in revenue in the near future. The rising incidence of chronic diseases, government healthcare spending, and disposable income are the main drivers of market expansion. Changing eating and lifestyle patterns, rising consumer demand for items that promote nutrition and health, and high demand for food, drinks, dietary supplements, functional food, and personal care products all contribute to the expansion of the region's nutraceutical ingredients market. In addition, North America is projected to grow rapidly in the global nutraceutical ingredients market due to the increasing frequency of chronic and non-chronic diseases, growth in market innovations, and expansion of large corporations' research and development endeavours. Additionally, the growth is due to increasing customer demand. In terms of product options and the broader acceptance of nutraceutical ingredients among consumers across all age groups, the United States is one of the top markets.
Competitive Landscape
Some Major Key Players In The Nutraceutical Ingredients Market:
- Associated British Foods plc (London)
- Arla Foods (Denmark)
- Koninklijke DSM N.V., (The Netherlands)
- Ingredion Incorporated (U.S.)
- Tate & Lyle PLC (U.K.)
- Ajinomoto CO. INC. (Japan)
- Hansen Holding A/S (Denmark)
- Glanbia PLC (Ireland)
- Fonterra Co-operative Group Limited (New Zealand)
- Cargill, Incorporated (U.S.)
- Archer Daniels Midland Company (U.S.)
- DuPont de Nemours, Inc.(U.S.)
- BASF SE (Germany)
- Kerry Inc. (Ireland)
Nutraceutical Ingredients Market Report Scope
|
Report Attribute |
Specifications |
|
Market Size Value In 2023 |
USD 192.83 Billion |
|
Revenue Forecast In 2031 |
USD 320.28 Billion |
|
Growth Rate CAGR |
CAGR of 6.76 % from 2024 to 2031 |
|
Quantitative Units |
Representation of revenue in US$ Billion and CAGR from 2024 to 2031 |
|
Historic Year |
2019 to 2023 |
|
Forecast Year |
2024-2031 |
|
Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
|
Segments Covered |
Type, Health benefits, Ingredient Form, Application |
|
Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico ;The UK; France; Italy; Spain; China; Japan; India; South Korea; South East Asia; South Korea; South East Asia |
|
Competitive Landscape |
Associated British Foods plc (London), Arla Foods (Denmark), Koninklijke DSM N.V., (The Netherlands),Ingredion Incorporated (U.S.), Tate & Lyle PLC (U.K.), Ajinomoto CO. INC. (Japan), Chr. Hansen Holding A/S (Denmark), Glanbia PLC (Ireland), Fonterra Co-operative Group Limited (New Zealand), Cargill, Incorporated (U.S.), Archer Daniels Midland Company (U.S.), DuPont de Nemours, Inc.(U.S.), BASF SE (Germany), and Kerry Inc. (Ireland), among others. |
|
Customization Scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
Corporate
Office :
Office No.5170, 5th Floor Marvel Fuego, Magarpatta Rd, Pune, 411028
info@insightaceanalytic.com
