Farmington, May 08, 2023 (GLOBE NEWSWIRE) -- The Global Nutrition Chemicals Market size was valued at USD 10.7 billion in 2022 and is projected to reach USD 17.4 billion by 2030, growing at a CAGR of 5.90% from 2023 to 2030. Nutritional chemicals are indispensable because they participate in every physiological process, from energy production to cell maintenance.
As food additives, nutrition chemicals are commonly used to improve the nutritional value of foods required by humans, plants, and animals, extend the expiration life of products, and impart flavor, color, and texture to foods. These compounds are utilized in numerous applications, including pharmaceuticals, animal nutrition, food, cosmetics and personal care products, and agriculture.
To improve the dietary requirements of plants and animals, animal and agricultural nutrients and chemical products are used. Organic acids, enzymes, vitamins, and glycinates, among others, are examples of commonly used animal nutrition chemical products used to improve the nutritional value of animal feed. To preserve the equilibrium of protein, vitamins, and other nutritional minerals in livestock diets, nutrition chemicals are increasingly used as dietary supplements in animal feed. Chemicals used in plant nutrition include nitrogen, phosphorus, potassium, calcium, magnesium, sulfur, iron, and copper, among others. All of these substances are plant growth stimulants that are absorbed by the roots, allowing plants to flourish and provide sustenance for humans and animals.
Request Sample Copy of Report “Global Nutrition Chemicals Market Size, Share & Trends Estimation Report By Type Outlook (Animal, Plant & Food) By Application Type Outlook (Pharmaceuticals, Agriculture, Food, Household, Cosmetics & Personal Care) Region, And Forecasts, 2022 - 2030”, published by Contrive Datum Insights.
Segmentation Overview:
By Type:
Animal:
All living creatures from insects to humans are considered animals. Animal-based products are widely used in the nutrition and chemicals market due to their high nutritional value and easy availability. They are recognized as an important source of essential nutrients for human health.
Plant:
The use of plants in the nutrition chemicals market is driven by the increasing demand for natural ingredients in food and beverage, pharmaceutical, and personal care products. With the global population on the rise, people are becoming more health-conscious and have higher disposable incomes, leading to a preference for nutritional foods and nutraceuticals. These factors are expected to propel the growth of plant-based products and their usage in nutrition chemicals in the foreseeable future.
Food:
Food nutrition chemicals are additives that enhance the nutritional value of food. They help to increase the levels of certain vitamins and minerals in food and can also reduce the amount of fat or sugar present in it.
By Application:
- Pharmaceuticals
- Agriculture
- Food
- Household
- Cosmetics
- Personal Care
The global nutrition chemicals market is classified into various application areas, including pharmaceuticals, agriculture, food, domestic, cosmetics, and personal care. Between 2015 and 2030, the agricultural sector is expected to grow at a CAGR (Compound Annual Growth Rate) of XX%. This growth is likely to be driven by the increasing population and growing disposable incomes in emerging economies like China and India, which are expected to create a demand for improved crop production techniques, ultimately leading to the expansion of the market.
Moreover, the market is expected to expand further over the forecast period due to the increased spending on sports supplements by athletes of all age groups. Additionally, higher household incomes and a greater understanding of the health benefits of nutritional supplements have resulted in increased household consumption, which is expected to have a positive impact on the growth of the industry during this period.
By Region :
The global Nutrition Chemicals market has been analyzed across several regions, including North America, Latin America, Middle East, Asia-Pacific, Africa, Europe, and India. Currently, North America dominates the global market, largely due to the rising demand for packaged food and beverages and the increasing use of nutrition in energy and health drinks. Additionally, the growth of the healthcare industry, along with an increase in the aging population, is driving the market's growth in the region. The United States' agriculture sector is also driving the demand for nutritional chemicals, with an increasing demand for corn, grains, and other corn products.
Asia-Pacific was the fastest-growing nutrition market in 2018, and it is expected to register a significant CAGR over the review period. The region's market growth can be attributed to the rising demand for nutrient-rich foods and beverages to improve health, along with an increasing demand for nutrition supplements in the growing pharmaceutical industry. The meat industry's growth has driven the consumption of processed meat and animal by-products, leading to an increase in the demand for animal feed and nutrition chemicals.
Europe's market is also expected to witness significant growth, driven by the rising consumption of packaged food and beverages, the growing cosmetics and personal care industry, and an increasing demand for UV-resistant skin care products. Similarly, the market in Latin America, Middle East, and Africa is expected to grow considerably due to changing consumption patterns and increasing demand for nutritional supplements.
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Scope of Report:
| Report Attributes | Details |
| Growth Rate | CAGR of 5.90% from 2023 to 2030. |
| Revenue Forecast by 2030 | $ 17.4 billion |
| On the basis of types |
|
| On the Basis of Application |
|
| By Companies |
|
| Regions and Countries Covered |
|
| Base Year | 2022 |
| Historical Year | 2017 to 2022 |
| Forecast Year | 2023 to 2030 |
Market Dynamics:
Drivers
1. Growing demand for nutritional supplements: Demand for nutritional supplements is rising as consumers grow more health-conscious. These supplements are a crucial part of the industry because they are produced using nutrition ingredients.
2. Growing awareness of the advantages of a healthy diet: As the advantages of a healthy diet become more widely known, consumers are looking for food items that are loaded with vital nutrients. The need for nutrition chemicals, which are used to strengthen food products, is being driven by this trend.
3. Increasing prevalence of chronic diseases: Chronic diseases such as diabetes, obesity, and cardiovascular disease are on the increase, and they frequently necessitate specialized diets and nutritional supplements. This has increased the demand for nutrition chemicals that can be utilized to create specialized products for individuals with these conditions.4. Rising need for animal feed: As the world's population continues to expand and consumer demand for meat and dairy products rises, there is also rising demand for animal feed. Animal feed is produced using nutrition chemicals, making them a crucial market component.
5. Nutritional technology developments: There have been substantial nutritional technology developments, which have sparked the creation of cutting-edge nutrition compounds. This has helped the market's expansion even further.
Restraints
1. The strict regulations related to the use and safety of nutrition chemicals can be a significant hindrance for the market growth. These regulations may limit the use of certain ingredients and slow down the development of new products.
2. The limited availability of raw materials, particularly for ingredients derived from natural sources, can increase the production cost and constrain the market's growth.
3. The market faces tough competition from alternative products such as herbal and organic supplements, which are often perceived as more natural and less synthetic. This competition can impact the demand for nutrition chemicals.
4. The global nutrition chemicals market can be affected by economic instability, which can impact consumer spending and demand for nutritional supplements and fortified foods.
Key Segments Covered:
Top Market Players:
- BASF
- DOW Chemical
- Vertellus
- Evonik Industries
- DUPont
- TATA Chemicals
- FMC Corporation
- Cognis
- AIC
- DSM
- Others.
On the Basis of Type:
- Animal
- Plant
- Food
On the Basis of Application:
- Pharmaceuticals
- Agriculture
- Food
- Household
- Cosmetics
- Personal Care
Regions and Countries Covered
- North America: (US, Canada, Mexico, Rest of North America)
- Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
- Asia-Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
- The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
- Latin America: (Brazil, Argentina, Rest of Latin America)
- Rest Of the World
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