Global nutraceutical ingredients market was valued at US$ 30.57 billion in 2016, according to Global Nutraceutical Ingredients Market by Product Ingredients (Vitamins, Prebiotics, Proteins and Amino Acids, Omega Fatty 3 Acids, and Others), by Application (Functional Food, Functional Beverages, Dietary Supplements, and Others), by Form (Dry and Liquid) published by Coherent Market Insights. The nutraceutical ingredients market is expected to exhibit a CAGR of 7.31% over the forecast period (2017–2025) to reach US$ 57.46 billion by 2025.
Key drivers for growth of the nutraceutical ingredients market is the associated health benefits of its consumption such as delay in aging process, supports functions of the body, provides prevention from chronic diseases and increases life expectancy. Furthermore, consumption of nutraceutical ingredients is expected to aid in maintaining health of an individual and reducing the risk of chronic diseases such as cancer, diabetes, obesity, and various others. Another factor expected to drive growth of the market is increasing micronutrient deficiency among individuals. According to Food and Agriculture Organization (FAO), United Nations, one in three people suffer from micronutrient deficiency, globally.
However, demand of these ingredients increases owing to limited manufacturing of nutraceuticals, and delay in the lab to market supply chain are one of the major factors restricting the growth of global nutraceutical ingredients market.
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Browse 100 market data tables* and 60 figures* on “Nutraceutical Ingredients Market”- Global forecast to 2025.
Key Trends and Analysis of Nutraceutical Ingredients Market:
Among product ingredients, omega fatty 3 acids segment is expected to exhibit fastest growth in the nutraceutical ingredients market with a CAGR of 7.33% over the forecast period. This high growth is owing to the benefits of Omega fatty 3 acid in reducing controlling cholesterol and blood pressure.
Among form, dry was the dominant segment in 2016 and is expected to continue its dominance over the forecast period. This growth is due to the factor that formulating dry ingredients is easier, especially to manufacture high volume.
Among application, functional beverages was the dominant segment in 2016 with a market share of 34.37% and is expected to retain its dominance over the forecast period. According to (Federation of Indian Chambers of Commerce & Industry (FICCI), in 2010 the global consumption of functional beverage was around 36%, which was the highest product segment. In 2011, Assure Food & Beverage Company, launched two new healthy beverages, Tropical Tangerine — helps to recover fatigue and maintains healthy heartbeat after intense exercise and Kiwi Strawberry Melon — contains omega 3 fatty acid which aids in reducing risk of coronary heart disease.
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Key Takeaways of the Market:
Asia Pacific was the dominant region in the nutraceutical ingredients market in 2016 with a share of 36.19% and is expected to retain its dominance over the forecast period. In the recent past, Singapore has become a center for R&D. Companies such as Wacker, DuPont, and Tate & Lyle have augmented their activities in Singapore. BASF introduced a technical application laboratory in this country, for its health and nutrition business, to further drive R&D capacities.
North America accounted for a significant share in the global nutraceutical ingredients market in 2016. The U.S. is the major country in nutraceutical ingredients market in North America. According to U.S. department of Health and Human Services, around 59 million Americans spend US$ 30.2 billion annually on healthcare.
Major players operating in the global nutraceutical ingredients market include BASF SE, E.I. du Pont de Nemours and Company, Cargill Inc., Archer Daniels Midland Company, DSM Nutritional Products, Ingredion Incorporated, Tate & Lyle Plc, Ajinomoto Co. Inc., and FMC Corporation.