Wilmington, Delaware, United States, Jan. 29, 2024 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - Health ingredient sales were valued at US$ 96.4 billion in 2022. A CAGR of 6.3% is anticipated between 2023 and 2031, reaching US$ 165.8 billion by 2031. Health ingredients may become more personalized due to technological breakthroughs and a greater understanding of individual health demands. Each individual's composition, lifestyle, and health objectives can be tailored to create personalized health ingredients and functional foods.
Additives that promote health will be more widely used in the future. Health ingredients will likely be impacted by the increased interest in sustainable diets and plant-based foods and the demand for functional products such as immune support and improved cognition. Consumption of plant-derived components has increased owing to their health benefits, environmental sustainability, and ethical considerations. In the future, this trend might lead to the creation of new plant-based substances.
Health ingredients will be developed in the future based on the developments in biotechnology and nutrigenomics. Biotechnological techniques can increase nutrient bioavailability, improve component functions, and create new substances with targeted health benefits. Because of nutrigenomics, which analyzes the genetic interactions between nutrition and genetic profiling, ingredients tailored to the individual may be created.
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Global Health Ingredients Market: Key Players
To meet consumer demand and ensure brand sustainability, leading players in the health ingredients market are launching products made from plant-based ingredients.
Manufacturers are expanding their market reach globally by launching new products and enhancing existing products. Key market players are implementing new extraction techniques to introduce eco-friendly and sustainable products.
- Cargill Incorporated
- DSM
- ADM
- Associated British Foods PLC
- BASF
- Arla Foods amba
- Tate & Lyle
- DuPont
- Lonza
- Kerry Group plc.
- Glanbia PLC
- Roquette Freres
- BENEO
- FrieslandCampina
- Others
Key Findings of Market Report
● Increased incidence of chronic diseases boosts demand for health ingredients
- Gluten-free superfood supplements are becoming increasingly popular as energy endurance supplements due to their high energy content.
- Asia Pacific consumers are becoming more aware of health and wellness benefits, resulting in a higher demand for health ingredients.
- Health ingredients made from plants are likely to drive demand in the future.
- Demand for health ingredients will increase as consumers become increasingly aware of prebiotics through social media channels.
Global Health Ingredients Market: Growth Drivers
- The rising focus on preventive healthcare, as customers actively look for goods that promote general well-being and are practical. The demand for substances with established health advantages, such as probiotics, antioxidants, vitamins, and minerals, has increased due to this change in consumer behavior.
- Demand for goods that not only meet consumer preferences for taste but also improve health outcomes is growing as people become more aware of the effects of their food on their health.
- An increasing emphasis is being placed on substances that address certain health issues connected with aging, such as joint support, cognitive function, and bone health, as demographics move towards an older population. Certain vitamins, collagen, and omega-3 fatty acids are among the ingredients that have gained appeal due to their potential to manage health issues associated with aging.
- In response to this trend, producers are adding these healthful components to a range of goods, such as fortified beverages, functional foods, and dietary supplements.
- Primarily the movement toward natural and clean-label products drives the market for health ingredients. Food ingredients are becoming more important to consumers looking for items with less processing, fewer additives, and more identifiable, natural ingredients. As a result, there is a growing need for organic ingredients, plant-based proteins, and natural sweeteners.
Global Health Ingredients Market: Regional Landscape
- Asia Pacific's health ingredient industry is dynamic and rapidly growing due to cultural, economic, and demographic differences. Population growth in China, India, and Japan is a major factor. Increasing affluence and a desire for better food and beverage options are driving the growth of the health ingredient market.
- Health ingredients in Asia are also driven by traditional medicine and herbal remedies deeply rooted in Asian cultures. Due to their perceived health benefits, components of historical or cultural importance, like herbs, consumers, frequently prefer spices, and plant extracts.
- Governments and public health efforts in numerous Asia Pacific countries that promote healthy lifestyles and nutrition further drive the market for health ingredients. The market for health components is expanding because of policies that aim to address nutritional deficiencies and lower the prevalence of diseases linked to lifestyle.
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Key Developments
- In January 2023, DSM-Firmenich announced four more human milk oligosaccharides (HMO) ingredients had been approved for nutritional infant formula products. To achieve this approval, the company applied to Food Standards Australia New Zealand (FSANZ) - which was approved.
- In July 2023, ADM collaborated with Brightseed, a biotechnology startup, to create functional synbiotic products. As part of the collaboration, Brightseed will use its artificial intelligence platform, Forager, to study how dietary plants interact with gut microbiomes and how these interactions affect humans.
Global Health Ingredients Market: Segmentation
By Source
- Plant-based
- Animal-based
- Microbial-based
- Synthetic-based
By Type
- Vitamins
- Minerals
- Proteins
- Enzymes
- Nutritional Lipids
- Plant & Fruit Extracts
- Prebiotics
- Probiotics
- Others
By Application
- Food
- Beverage
- Animal Feed
- Personal Care
By Region
- North America
- Latin America
- Western Europe
- Eastern Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa
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