Luton, Bedfordshire, United Kingdom, Sept. 19, 2022 (GLOBE NEWSWIRE) -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Nutraceutical Ingredients market.
The global Nutraceutical Ingredients Market is expected to grow at a CAGR of 7% from 2022 to 2028 to reach $ 227.5 billion by 2028.
Consumers are more likely to have generic worries about nutrient deficiency than specific concerns about a particular health issue or nutrient/aspect of their diet. Numerous goods, including functional food and drinks, animal nutrition, medications, and personal care items, include nutraceutical components. However, the prices of these final goods rise as a result of the addition of nutraceutical components to food and beverage, feed, pharmaceutical, and personal care items.
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As consumers have grown more aware of the proper diet over the past several years, there has been an upsurge in the demand for healthy substitutes for commodities. When nutraceutical components are added to any type of food and beverage product, functional food and drinks are created that, in some manner, impart a health benefit.
Recent Development
- In 2022, DSM Group, a global science-based company, launched its latest integrated Food & Beverage functional structure, which combines three sections of DSM’s business based on nutrition, i.e., Hydrocolloids, Food Specialties, and a few portions of nutritional commodities group on demand of emerging customer and current needs of the market.
- In 2021, ArchiMed acquired SUANFARMA, a key manufacturer and distributor of active nutraceutical ingredients and pharmaceuticals, to outsource their vital products globally, which will boost their sales and profit growth.
| PARAMETERS | DETAILS |
| CAGR (2021–2028) | 7% |
| The Revenue forecast in 2028 | USD 227.5 Billion |
| Base year for estimation | 2021 |
| Historical data | 2017–2020 |
| Forecast period | 2022–2028 |
| Quantitative units | Revenue in Billion, revenue share (%) and CAGR (%) |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments covered | Form, type, application, Region |
| Regional scope | North America; Europe; Asia-Pacific; Latin America; Middle East & Africa |
| Country scope | U.S., Canada, Mexico, Germany, U.K., France, BENELUX, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, Israel, Rest of MEA |
| Key companies profiled | Associated British Foods plc, Arla Foods, DSM, Ingredion Incorporated, Tate & Lyle, Ajinomoto Co., Inc., Chr Hansen Holding A/S, Glanbia plc, Cargill, Inc., and Archer-Daniels-Midland Company |
Nutraceutical Ingredients Market Players
Few of the important market players Associated British foods, Arla foods, DSM, Ingredion, Tate & Lyle, Ajinomoto, Chr. Hansen, Kyowa hakko kirin group, Glanbia plc and Cargill.
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Key Market Segments: Nutraceutical Ingredients Market
Nutraceutical Ingredients Market by Type, 2019-2028
- Probiotics
- Proteins
- Amino Acids
- Phytochemicals & Plant Extracts
- Fibers & Specialty Carbohydrates
Nutraceutical Ingredients Market by Application, 2019-2028
- Food
- Beverages
- Personal Care
- Animal Nutrition
- Dietary Supplement
Asia Pacific: The fastest growing regional market
Asia Pacific region holds the majority of the global nutraceutical ingredients market. India is projected to be the fastest-growing country in the region for nutraceutical ingredients due to changing lifestyles and dietary patterns and growing awareness about nutrition. Further, rising hospitalization cost is also driving the consumer demands for supplements and other nutrients such as vitamins and minerals, to maintain their health. Consumers in the country are now willing to spend an additional amount for fortified products, which has increasingly helped manufacturers of nutraceutical ingredients to find a substantial market opportunity.
Product-based and technological innovations in the nutraceutical ingredients industry are playing an important role in this market and it is also deciding the pace of transformation.
Numerous producers of nutraceutical ingredients are quickly embracing personalised healthcare technology in order to provide more individualised end products for consumers. Consumer goods firms are progressively gathering data to enable a complete study of consumer lifestyle and purchasing habits and to provide customers alternatives that are personalised to their preferences.
There is ongoing consumer scepticism related to the uptake of nutraceutical goods, along with increased consumer knowledge about improved nutritional choices and rising health awareness. Although there are many causes for this distrust, the two main ones that prevent consumers from adopting nutraceutical goods are their unsupported health claims and synthetic origin.
Growing Consumption of Nutraceutical Products
Most individuals are oriented toward items with nutraceutical ingredients because they care more about improving their health than they do about paying enormous medical expenditures for therapy. Nutraceuticals are becoming more significant and prevalent in consumers' everyday diets on a global scale. The items are now modified to reflect the prevailing market trend. Large producers can now produce functional and nutraceutical foods that target both general and specific health issues thanks to technology and innovation.
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