Nutraceutical Ingredients Market Overview
Nutraceutical Ingredients are chemical, natural bioactive compounds that possess disease preventing and health promoting medical properties. These ingredients when added to food and drinks increase the nutritional value of the food products. Other than fulfilment of daily nutrient requirement, the functional health benefits provided by these ingredients help in preventing diseases, boosting energy, and improving physical endurance and mental alertness. The global Nutraceutical Ingredients market is estimated to surpass $44.3m by 2023, growing at an estimated CAGR of 6.98% from 2018 to 2023.
Nutraceutical Ingredients Market Outlook
North America dominated the market for nutraceutical ingredients with a market share of 39.2% followed by Asia-Pacific with a market share of 30.4% in 2017. Functional food remained the fastest growing segment of the nutraceutical ingredients market in North America. The major nutraceutical ingredients segment is the Omega -3 fatty acids, which has major health benefits and proves beneficial to both infants and adults. These fatty acids help cognitive growth and development in infants and fight cardiovascular diseases, cancer, and depression in adults.
Nutraceutical Ingredients Market Growth Drivers
The market value for Nutraceuticals is enhanced as they have received significant acceptance from consumers owing to their potential nutritional, safety, and therapeutic effects, thus creating more demand better ingredients. The market is growing owing to the major health benefits of nutraceutical ingredients.
Nutraceutical Ingredients Market Challenges
The major challenge for the nutraceutical ingredients market is the high research and development and regulatory burdens imposed on manufacturers. The growing consumer interest for nutrient rich nutraceutical products resulted in production of fortified and nutrient enriched ingredients, thus resulting in even higher prices.
Nutraceutical Ingredients Market Research Scope
The base year of the study is 2016, with forecast done up to 2025. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the nutraceutical ingredients market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the types of nutraceutical agents, their forms, end users, and their specific applications.
Nutraceutical Ingredients Market Report: Industry Coverage
Types of Nutraceutical Ingredients: prebiotics, probiotics, vitamins, minerals, proteins & amino-acids, omega-3 fatty acids and few others.
Forms of Nutraceutical Ingredients: liquid and powder
End Users of Nutraceutical Ingredients: heart health, eye health, gut & digestive health, postnatal health, prenatal health, immune support, optimal wellness and few others
Application of Nutraceutical Ingredients: Animal Feed and personal care
The Nutraceutical Ingredients Market report also analyzes the major geographic regions for the market as well as the major countries for the market in these regions. The regions and countries covered in the study include:
- North America: The U.S., Canada, Mexico
- South America: Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, Costa Rica
- Europe: The U.K., Germany, Italy, France, The Netherlands, Belgium, Spain, Denmark
- APAC: China, Japan, Australia, South Korea, India, Taiwan, Malaysia, Hong Kong
- The Middle East and Africa: Israel, South Africa, Saudi Arabia
Nutraceutical Ingredients Market Key Players Perspective
Some of the key players mentioned in this report are Archer Daniels-Midland Company, Cargill Inc, BASF SE, DSM N.V., and DuPont.
Nutraceutical Ingredients Market Trends
- Probiotics are known for promoting gut health, but researchers are trying to focus on other paths to promote gut health, which include prebiotics/fibers and other herbal ingredients.
- More nutraceuticals manufactures are delivering products in different forms, which may include chewable, ready-to-mix powders, and liquids. They also offer products in the form of lotions, sprays, gums, drops, and lozenges.
- Nutraceuticals manufactures focusing on delivering protein-based products as consumers are turning away from traditional animal sources of protein. This new-found fascination with protein will help nutraceuticals companies to expand into high-protein foods and drinks.
- Consumers in Asia-Pacific are demanding for better, innovative, and scientifically based products that help in addressing concerns related to beauty, providing opportunities for the nutraceutical companies to expand.