Global Bioactive Ingredients Market is expected to reach USD 51.71 billion by 2024. The bioactive ingredients industry is estimated to grow at a significant CAGR in the upcoming period as the scope and its applications are rising enormously across the globe. Bioactive ingredients are extra nutritional constituents found in small quantities in foods that have a biological effect on the body. These ingredients are derived from living systems and plants.
The factors that are playing a major role in the growth of bioactive ingredients market are growing per capita income in developing countries, the rising health concerns, and growing awareness among populace regarding a healthy lifestyle. However, intra-government standards and lack of patent protection guidelines and licensing are the factors that may restrain overall market growth in the years to come. Bioactive ingredient market is segmented based on type, application, and region.
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Carotenoids & antioxidants, prebiotics, fibers & specialty carbohydrates, probiotics, vitamins, amino acids, peptides & proteins, minerals, omega 3 & structured lipids, phytochemicals & plant extracts, and other types could be explored in bioactive ingredients in the forecast period. Fibers & specialty carbohydrates sector accounted for the significant market share of bioactive ingredients and are estimated to lead the overall market in the years to come. The reason could be rising awareness among populace regarding a healthy lifestyle, prevention of cancer and cardiovascular diseases, and maintaining intestinal health. Also, phytochemicals & plant extracts sector is estimated to grow at the fastest pace in the years to come.
The market could be categorized based on applications like personal care, functional food, animal nutrition, functional beverages, dietary supplements, and others that could be explored in the forecast period. Dietary supplement sector accounted for the substantial market share of bioactive ingredients and is estimated to continue with its dominance in the years to come. The reason could be growing health-conscious customers. Also, the sector is estimated to grow at the highest CAGR in the years to come.
Globally, Asia Pacific accounted for the substantial market share of bioactive ingredients and is estimated to lead the overall market in the years to come. The reason behind the overall market growth could be the growing population and urbanization in several emerging countries, high demand for functional food and beverages and dietary supplements, and rising disposable income. The developing countries like India, Russia, Brazil, and China are the major consumers of bioactive ingredients in this region.
The key players of the bioactive ingredients market are BASF, DuPont, ADM, Royal DSM, and Cargill. These players are concentrating on inorganic growth to sustain themselves amidst fierce competition.
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Global Bioactive Ingredients Product Outlook (Revenue, USD Billion, 2014 – 2024)
• Omega 3 PUFA
• Plant extracts
• Carotenoids & antioxidants
• Other types
Global Bioactive Ingredients Application Outlook (Revenue, USD Billion, 2014 – 2024)
• Functional food & beverages
• Dietary supplements
• Clinical Nutrition
• Personal care
• Other products
Global Bioactive Ingredients Regional Outlook (Revenue, USD Billion, 2014 – 2024)
• North America
• Asia Pacific
• Central & South America
• Middle East & Africa
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