NEWARK, Del, March 30, 2023 (GLOBE NEWSWIRE) -- In 2023, the bioactive ingredient market is expected to be worth US$ 186.73 billion. Sales of bioactive ingredients are expected to register a CAGR of 7.8% from 2023 to 2033, and the market is likely to surpass US$ 395.73 billion by 2033.
The bioactive ingredient industry is being driven by several factors, including the growing demand for functional food and dietary supplements, increasing consumer awareness about the benefits of natural and organic products, and advancements in extraction technologies.
Consumers are increasingly looking for food and supplement products that can provide additional health benefits beyond basic nutrition, and bioactive ingredients are seen as a key way to meet this demand. In addition, the increasing focus on sustainability and environmental responsibility is driving demand for plant-based and naturally sourced bioactive ingredients.
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Several restraints could limit the market growth potential. One of the key restraints is the high cost of research and development, which can limit the ability of smaller companies to innovate and compete with existing players. In addition, the complex regulatory environment surrounding bioactive ingredients can be a barrier to entry, particularly for companies operating in multiple regions.
Growing demand for natural and organic products is one of the leading opportunities, as consumers become more aware of the health benefits of plant-based and sustainably sourced ingredients. Another opportunity is the increasing interest in bioactive ingredients for use in animal nutrition, particularly as a way to improve animal health and reduce the use of antibiotics in farming. Finally, the use of bioactive ingredients in personal care and cosmetics products is also a growing area of opportunity for companies in the industry.
There are several key trends shaping the industry, including the increasing demand for personalized nutrition solutions that can be tailored to individual health needs. Another trend is the use of AI and machine learning technologies to optimize the extraction and formulation of bioactive ingredients, allowing companies to develop; more effective and efficient products.
Key Takeaways from the Bioactive Ingredient Market:
- The North American bioactive ingredient market was dominated by the United States in 2022, with a share of 79.8%.
- Due to an increase in packaged food production and consumption, Europe's bioactive ingredient industry is predicted to expand.
- China has a sizable bioactive ingredient industry thanks to its huge and expanding population as well as its rising standard of living.
- A growing demand for bioactive ingredients that can aid with age-related health issues has been generated in Japan due to the country's aging population.
- Antioxidants are predicted to account for the lion's share of the bioactive ingredient industry based on product type.
- Personal and beauty care applications are a dominant segment in the bioactive ingredient industry.
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How Key Players are Revolutionizing the Industry Landscape?
The bioactive ingredient industry is highly competitive, with several leading companies operating in the market. These companies are engaged in the development, production, and distribution of a wide range of bioactive ingredients, including vitamins, minerals, probiotics, enzymes, and plant extracts.
Some key players in the industry include BASF SE, Archer Daniels Midland Company, Cargill, DuPont de Nemours, Inc., Koninklijke DSM N.V., and Roquette Frères.
These companies are competing based on product innovation, quality, and price, as well as on their ability to meet the changing needs and preferences of consumers. Many companies are investing in research and development to develop new and innovative bioactive ingredients that can address specific health concerns or target new markets. In addition, companies are investing in marketing and branding to build awareness of their products and establish strong customer relationships.
The industry is also characterized by a high degree of consolidation, with a few sizable companies dominating the market. However, there are also several smaller, niche players operating in the market, particularly in the area of plant extracts and other natural ingredients.
Bioactive Ingredient Market by Category
By Product Type:
- Probiotics And Prebiotics
- Amino Acids
- Omega 3 Lipids
- Peptides & Proteins
- Minerals & Vitamins
- Carotenoids And Antioxidants
- Phytochemicals & Plant Extracts
- Fibers & Specialty Carbohydrates
By Application:
- Functional Food & Beverages
- Dietary Supplements
- Personal and Beauty Care
- Pharmaceutical
- Animal Nutrition
By Distribution Channel:
- B2B
- B2C
- Hypermarket/Supermarket
- Specialty Stores
- Online Retail Store
- Pharmacy Stores Online Retailers
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- The Middle East & Africa
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Table of Content
1. Executive Summary | Bioactive Ingredient Market
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
Read More TOC..
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