The Global Nutraceutical Ingredient Market to Evolve at 6.47% of CAGR by 2027
“According to the new market research report published by Inkwood Research, the Global Nutraceutical Ingredient Market is growing at 6.47% of CAGR during the forecasting period of 2019-2027.”
“Browse 23 market Data Tables and 33 Figures spread over 130 Pages, along with an in-depth TOC on Global Nutraceutical Ingredient Market forecast 2019-2027.”
Nutraceutical ingredients are a natural bioactive substance or chemical compounds which help in preventing diseases and improve health. The ingredients comprise of fibres and speciality chemicals: Vitamins, omega-3 and structured lipids, phytochemicals and plant extracts, minerals, carotenoids and antioxidants and prebiotics. The rise in the usage of nutraceutical ingredients in food and beverages, consumers adopting healthcare practices, surge in aging population, increase of vegetarian and vegan food practices are the factors driving growth in the market.
Rising usage in functional food and beverages is driving the nutraceutical ingredients market globally
Nutraceutical ingredients are used widely in functional food and beverages. The ingredients are known to improve health and provide nutrients. Yoghurt, cholesterol-lowering spreads and foods with added nutrients are examples using omega-3 fatty acids. The nutrient value in food grown is reducing due to soil depletion, environmental factors and farming methods. Due to the nutrient reduction in food, there is a need for substitution; nutraceutical ingredients substitute nutritional value to the food. The growing awareness of this has fueled growth for supplementary nutritional products, which is increasing its use and driving the functional food and beverages market.
To learn more about this report, request a free sample copy
Functional foods, Functional beverages, dietary supplements and others are the classification of nutraceutical ingredients by application. Among others, dietary supplements capture the majority market share. Dietary supplements include proteins and peptides, vitamins and minerals, herbals, non-herbal products. The supplements are intended to provide additional nutrients in the form of pills, capsules, powders, energy bars and drinks. The growing health and fit approach due to the lifestyle has fueled the demand for dietary supplements.
India and Japan are supplementing the rapid growth in the APAC nutraceutical ingredient market
The Asia Pacific is set to dominate the global market by holding the largest share and is projected to witness the highest growth rate by the end of 2027. The high growth of retail, food and healthcare industry in the region is causing this huge demand for nutraceutical products in the region. The growth of nutraceutical supplements in India is attributed to the growing pharmaceutical sector in the country. Moreover, the growing awareness regarding health and well-being in Japan has increased the demand for nutraceutical ingredients in functional food and beverages.
The key giants operating in the global market are Ajinomoto Co.Inc., Associated British Foods Plc., Cosucra Group Warcoing SA, Dean Foods Company, General Mills Inc., Nestle SA, Royal DSM N.V., Ingredion Incorporated, E.I.D – Parry (India) Ltd., Danone SA, Archer Daniels Midland Company, BASF SE, Arle Foods Deutschland GmBH, Dupont De Nemours & Company, GlaxoSmithKline Plc, Pepsico Inc., Tate & Lyle Plc. The market is dynamic and competitive owing to the constant mergers, acquisitions, and strategic alliances. These companies are mainly funding in R&D to augment their product portfolio and sustain their position in the market.
About Inkwood Research
Inkwood Research specializes in syndicated & customized research reports and consulting services. Market intelligence studies with relevant fact-based research are customized across industry verticals such as technology, automotive, chemicals, materials, healthcare, and energy; with an objective comprehension that acknowledges the business environments. Our geographical analysis comprises of North & South America, CEE, CIS, Middle East, Europe, Asia, and Africa.