Nutraceutical Ingredients Market Size, Share | Forecast – 2027

Chicago, Aug. 03, 2023 (GLOBE NEWSWIRE) -- The Nutraceutical Ingredients Market refers to the global industry that produces and supplies various ingredients used in nutraceutical products. Nutraceuticals are a category of products that combine nutritional and pharmaceutical properties, providing health benefits beyond basic nutrition. They are often found in dietary supplements, functional foods, beverages, and personal care products.

Nutraceutical ingredients market in terms of revenue is poised to reach $261.7 billion by 2027, growing at a CAGR of 7.2% from 2022-2027 according to a latest report published by MarketsandMarkets™. The increasing awareness of health & wellness among the consumers and tailored products according to the needs of the targeted audience are driving factors for the growth of the nutraceutical ingredients market.

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Key highlights:

1. The market is being driven by the increasing awareness of health and wellness among consumers, as well as the rising cost of pharmaceutical and hospital expenses.
2. Probiotics are the leading type of nutraceutical ingredient, followed by proteins, amino acids, and phytochemicals.
3. The food segment is the largest application market for nutraceutical ingredients, followed by beverages and dietary supplements.
4. North America is the largest market for nutraceutical ingredients, followed by Europe and Asia Pacific.

Nutraceutical Ingredients Market Scope:

Report Metric	Details
Market valuation in 2022	US$ 185.2 billion
Revenue forecast in 2027	US$ 261.7 billion
Progress rate	CAGR of 7.2% by 2027
Historical data	2020-2027
Forecast period	2022-2027
Report Coverage	Company ranking, driving factors, Competitive benchmarking, and analysis
Segments covered	Region, Type, Application
Major driving factors	Growing demand for fortified food due to increased health consciousness among consumers Increase in incidences of chronic diseases Mandates on food fortification by government organizations
Opportunities	Product-based and technological innovations in the nutraceutical ingredients market

Nutraceutical Ingredients Market major players covered in the report, such as:

• British Foods Plc (UK)
• Arla Foods Ingredients Group P/S (Denmark)
• DSM (Netherland)
• Ingredion (US)
• Tate & Lyle (UK)
• Ajinomoto Co., Inc. (Japan)
• CHR Hansen Holdings A/S. (Denmark)
• Kyowa Hakko Bio Co., Ltd. (Japan)
• Glanbia Plc (Ireland)

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The research report categorizes the market into the following segments:

Nutraceutical Ingredients Market By Ingredient Type

• Probiotics
• Proteins And Amino Acids
• Phytochemicals & Plant Extracts
• Fibers & Specialty Carbohydrates
• Omega-3 Fatty Acids
• Vitamins
• Prebiotic
• Carotenoids

Nutraceutical Ingredients Market By Form

• Dry
• Liquid

Nutraceutical Ingredients Market By Application

• Food
• Beverage
• Personal Care
• Animal Nutrition
• Dietary Supplement

Nutraceutical Ingredients Market By Region

• North America
• South America
• Europe
• Asia Pacific
• RoW (Middle East & Africa)

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The key stakeholders in the Nutraceutical Ingredients Market include:

• Nutraceutical Ingredient Manufacturers: Companies that specialize in producing various nutraceutical ingredients such as vitamins, minerals, amino acids, herbal extracts, and other bioactive compounds. These manufacturers are responsible for ensuring the quality, safety, and efficacy of the ingredients they produce.
• Nutraceutical Product Manufacturers: Companies that formulate and manufacture finished nutraceutical products, such as dietary supplements, functional foods, beverages, and personal care products. They use nutraceutical ingredients as the primary components of their products.
• Research and Development (R&D) Institutions: Academic and private research institutions that conduct scientific studies and experiments to discover new nutraceutical ingredients, explore their potential health benefits, and improve existing formulations.
• Regulatory Authorities: Government agencies responsible for regulating and overseeing the nutraceutical industry to ensure compliance with safety standards, labeling requirements, and other relevant regulations.
• Distributors and Wholesalers: Entities involved in the distribution and wholesale supply of nutraceutical ingredients and products to retailers, pharmacies, health stores, and other distribution channels.
• Retailers: Pharmacies, health stores, supermarkets, e-commerce platforms, and other retail outlets that sell nutraceutical products to consumers.
• Healthcare Professionals: Doctors, nutritionists, dietitians, and other healthcare professionals who recommend or prescribe nutraceutical products to patients as part of their healthcare or wellness plans.
• Consumers: The end-users of nutraceutical products who purchase and consume these products to improve their health, prevent illnesses, or address specific health concerns.
• Trade Associations and Industry Groups: Organizations that represent the interests of the nutraceutical industry, advocate for favorable policies, and facilitate communication and collaboration among stakeholders.
• Suppliers of Raw Materials: Companies that supply raw materials required for nutraceutical ingredient production, such as botanicals, minerals, and other natural or synthetic ingredients.
• Quality Control and Testing Laboratories: Independent laboratories that conduct testing and analysis of nutraceutical ingredients and products to ensure their safety, quality, and compliance with regulatory standards.

Frequently Asked Questions (FAQs) in Nutraceutical Ingredients Industry:

Q: What are the benefits of nutraceutical ingredients?
A: Nutraceutical ingredients offer a variety of health benefits, including:

1. Improved gut health
2. Reduced risk of chronic diseases
3. Increased energy levels
4. Improved cognitive function
5. Enhanced skin health
6. Weight management

Q: What are the different types of nutraceutical ingredients?
A: There are many different types of nutraceutical ingredients, including:

• Probiotics
• Prebiotics
• Phytochemicals
• Amino acids
• Vitamins
• Minerals
  

Q: What are the different application markets for nutraceutical ingredients?
A: Nutraceutical ingredients are used in a variety of application markets, including:

1. Food
2. Beverages
3. Dietary supplements
4. Cosmetics
5. Pharmaceuticals
   

Q: What are the key drivers and challenges of the nutraceutical ingredients market?
A: The key drivers of the nutraceutical ingredients market include:

• Increasing awareness of health and wellness
• Rising cost of pharmaceutical and hospital expenses
• Growing demand for functional foods and beverages

The key challenges of the nutraceutical ingredients market include:

• Stringent regulations
• Lack of scientific evidence
• High cost of nutraceutical ingredients
  

Q: What is the future outlook for the nutraceutical ingredients market?
A: The nutraceutical ingredients market is expected to grow in the coming years due to the increasing demand for functional foods and beverages, as well as the rising awareness of health and wellness.

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This report provides insights on the following pointers:

• Growing Health and Wellness Awareness: Increasing consumer awareness of health and wellness has been a significant driving force behind the growth of the nutraceutical ingredients market. Consumers are actively seeking natural and preventive solutions to support their overall well-being, leading to a rise in demand for nutraceutical products.
• Aging Population and Chronic Disease Management: The global aging population has been a crucial factor in the market's expansion. As people age, they become more conscious of their health and look for products that can help manage age-related issues and support healthy aging. Additionally, the prevalence of chronic diseases like obesity, diabetes, and cardiovascular problems has spurred the demand for nutraceuticals that can aid in disease management.
• Shift Towards Personalized Nutrition: The concept of personalized nutrition has gained traction, and consumers are looking for nutraceutical products tailored to their specific needs and health conditions. This trend has led to the development of targeted formulations and the use of nutrigenomics to create personalized dietary supplements.
• Innovative Product Development: Ongoing research and development efforts have led to the introduction of new and innovative nutraceutical ingredients with enhanced bioavailability and health benefits. Novel formulations and combinations are being explored to cater to diverse consumer preferences.
• Natural and Organic Ingredients: Consumers are increasingly seeking products made from natural and organic ingredients. As a result, nutraceutical ingredient manufacturers are focusing on sourcing sustainable raw materials and adhering to eco-friendly practices.
• Regulatory Landscape and Quality Assurance: The nutraceutical industry is subject to varying regulations and quality standards across different regions. Manufacturers must comply with these regulations to ensure the safety and efficacy of their products. This has led to an emphasis on rigorous testing, quality control, and traceability throughout the supply chain.
• E-commerce and Direct-to-Consumer (DTC) Sales: The rise of e-commerce platforms and DTC sales channels has facilitated easier access to nutraceutical products for consumers. This trend has allowed smaller nutraceutical companies to reach a broader audience and enabled consumers to compare and choose products more conveniently.
• Impact of COVID-19: The COVID-19 pandemic has accelerated the focus on health and wellness, leading to an increased interest in immunity-boosting products. Ingredients like vitamins, minerals, and herbal extracts have gained popularity as consumers look for ways to support their immune systems.
• Sustainability and Transparency: Consumers are becoming more conscious of the environmental impact of the products they consume. Nutraceutical companies are responding by adopting sustainable sourcing practices and providing transparent information about their ingredients and production processes.

Related Reports:

Probiotics Market

Nutraceutical Excipients Market 

Food Antioxidants Market 

With the given market data, MarketsandMarkets offers customizations as per the company’s specific needs. The following customization options are available for the report:

Company Information

• Detailed analyses and profiling of additional market players (up to five)

Geographic Analysis

• Further breakdown of the Rest of Asia Pacific nutraceutical ingredients market

• Further breakdown of the Rest of Europe nutraceutical ingredients market

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