New York, United States , May 26, 2023 (GLOBE NEWSWIRE) -- The Global Health Ingredients Market Size is to grow from USD 101.2 billion in 2022 to USD 198.8 billion by 2032, at a Compound Annual Growth Rate (CAGR) of 6.9% during the projected period. Growing demand for healthier food and beverage options, an increase in the prevalence of chronic diseases, and a growing interest in preventive healthcare are driving the global health ingredients market. The market is expected to expand further in the coming years, with an emphasis on natural and organic ingredients, as well as functional food and beverage products.
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The market for health ingredients refers to ingredients used in the production of food, beverages, supplements, and pharmaceuticals with the goal of improving health and wellness. Vitamins, minerals, proteins, prebiotics, probiotics, fibers, amino acids, and omega-3 fatty acids are examples of these ingredients. Growing demand for healthier food and beverage options, an increase in the prevalence of chronic diseases, and a growing interest in preventive healthcare are driving the market for health ingredients. The market's expansion can be attributed to a variety of factors, including rising awareness of the health benefits of functional food and beverage products, an aging population, and increased demand for natural and organic ingredients.
The demand for health ingredients is being driven by the trend toward functional foods and beverages that provide specific health benefits such as weight management, gut health, and immune support. However, many health ingredients are sourced from natural sources, and the manufacturing process can be costly due to the requirement for specialized equipment and expertise. This can result in high manufacturing costs that are passed on to consumers, limiting market growth.
Browse key industry insights spread across 200 pages with 120 market data tables and figures & charts from the report on "Global Health Ingredients Market Size, Share, and COVID-19 Impact Analysis, By Type (Functional Carbohydrates, Vitamins, Minerals, Prebiotics, Probiotics starter culture, Nutritional Lipids, Plant and Fruit Extracts, Enzymes, Proteins), By Source (Plant, Microbial, Animal, Synthetic), By End user (Beverages, Food, Animal feed, Pharmaceuticals, Personal care), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032." Get Detailed Report Description Here:
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The vitamins segment is expected to hold the largest share of the global health ingredients market during the forecast period.
The global health ingredients market is divided into functional carbohydrates, vitamins, minerals, prebiotics, probiotic starter culture, nutritional lipids, plant and fruit extracts, enzymes, and proteins based on type. Among these, vitamins are projected to account for the major share of the global health ingredients market over the forecast period. Vitamins are essential nutrients that play an important role in many bodily functions, including immune system function, energy metabolism, and bone health. They can be found in a wide range of health-promoting products, such as dietary supplements, fortified foods, and beverages.
The plant segment is expected to grow at the fastest pace in the global health ingredients market during the forecast period.
The global health ingredients market is divided into four categories based on the source: plant, microbial, animal, and synthetic. Plants are projected to expand at the highest pace in the global health ingredients market over the forecast period. Growing consumer interest in natural and organic products, as well as concerns about sustainability and animal welfare, are driving the growth of plant-based ingredients.
The food segment is expected to hold the largest share of the global health ingredients market during the forecast period.
The global health ingredients market is divided into five categories based on the end user: beverages, food, animal feed, pharmaceuticals, and personal care. Among these, the food segment is expected to account for the major share of the global health ingredients market over the forecast period. Consumer interest in functional foods that provide additional health benefits beyond basic nutrition is driving the demand for health ingredients in food.
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Asia Pacific is estimated to hold the largest share of the global health ingredients market over the predicted timeframe.
Asia Pacific is expected to hold the largest share of the global health ingredients market during the forecast period. The expansion of the health ingredients market in this region can be attributed to a rise in dietary consumption of supplements as people become more conscious of the health benefits of taking them because they contain nutrients, primarily minerals, and vitamins. During the forecast period, North America is expected to grow at the fastest rate in the global health ingredients market. The North American market for health ingredients is the fastest growing, owing to rising consumer demand for natural and organic products.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Health Ingredients Market include Associated British Foods PLC, Kerry Group PLC, Archer Daniels Midland Company (ADM), BASF SE, Ingredion, Tate & Lyle, Lonza, Glanbia PLC, Probi, International Flavors & Fragrances Inc., DSM, Cargill Incorporated, Arla Foods, Royal FrieslandCampina N.V., CHR Hansen Holdings A/S, and Others.
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Recent Developments
In July 2022, BASF SE has announced the expansion of vitamin A formulation capacity at its Verbund site in Ludwigshafen. Increasing capacity for vitamin A powder in conjunction with increased capacity for vitamin A acetate production. This expansion would boost the company's revenue and market share for vitamin A in animal nutrition.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the Global Health Ingredients Market based on the below-mentioned segments:
Global Health Ingredients Market, By Type
- Functional Carbohydrates
- Vitamins
- Minerals
- Prebiotics
- Probiotics starter culture
- Nutritional Lipids
- Plant and Fruit Extracts
- Enzymes
- Proteins
Global Health Ingredients Market, By Source
- Plant
- Microbial
- Animal
- Synthetic
Global Health Ingredients Market, By End user
- Beverages
- Food
- Animal feed
- Pharmaceuticals
- Personal care
Global Health Ingredients Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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