Rising demand for fortified food, increased awareness among customers and technological innovations in nutraceutical ingredients industry are key factors contributing to high CAGR during the forecast period.
Market Size – USD 164.3 billion in 2019, Market Growth – CAGR of 7.2 %, Market Trends – Key Rising incidences of chronic diseases and food fortification mandates by government
According to the current analysis of Reports and Data, the global Nutraceutical Ingredients market was valued at USD 164.3 billion in 2019 and is expected to reach USD 266.9 billion by the year 2027, at a CAGR of 7.2%. Nutraceutical ingredients are derived from sources such as animal, plant, microbial, and synthetic, which provide health benefits, adding the primary nutritional value and functional benefits to various applications such as food, beverages, dietary supplements, animal nutrition, and personal care products. The industry comprises two principal segments: functional foods and nutritional supplements.
The growth of the industry is attributed to the growing consumer demand for fortified food & beverages, the increasing number of incidences of chronic diseases, and mandates on food fortification by government organizations due to inadequate levels of vitamins and minerals in the human body. The growth of the market is restricted due to higher costs of fortified products and different regulatory frameworks in different countries for nutraceutical ingredients; however, the high raw material production cost for nutraceuticals product may limit the consumers to avail its features. Consumers are likely to have better options to switch for low-cost alternative proteins. Limited quality nutraceutical manufacturing has increased the need to fill demand and supply gap. Also, the product supply through the lab-to-market pipeline is generally time-consuming. Increased competition in the market, lack of awareness, and advertisement about product benefits may prove to be hindrances to the market growth.
The global Nutraceutical Ingredients market is considerably fragmented with significant players like LB Minerals Ltd., Imerys S.A., KaMin LLC, Thiele Nutraceutical Ingredients Company, EICL Ltd., and Nutraceutical Ingredients AD among others that collectively constitute a competitive market.
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Further key findings from the report suggest
- The animal nutrition application of the industry is expected to surge with a CAGR of 6.0 % during the forecast period
- The dry segment by the form is projected to dominate the market due to better stability and ease of handling & storage, as compared to the liquid form. Several nutraceutical ingredients that are used in the dry form are vitamins, amino acids, prebiotic & probiotic premixes, proteins, and minerals such as zinc and folic acid. These are either available in the form of capsules or compressed into tablets.
- Rising health care costs, increasing rates of childhood obesity, increasing incidence of type 2 diabetes and a greater understanding of the links between nutrition and well-being are augmenting market growth.
- The rising popularity of homeopathic remedies, coupled with widespread trends promoting preventive medicine and self-treatment, will impact favorably on global demand for numerous other natural nutraceutical ingredients, including cranberry, garlic, ginkgo biloba and ginseng extracts; and glucosamine and chondroitin.
- The functional active products includes amino acids, vitamins & Mineral extracts, herbal extracts, fruit extracts, vegetable extracts, enzymes, slimming agents and joint health improving agents.
- Functional additives and fiber nutrients will also fare well in the global marketplace, with demand gaining upward momentum from increasing clinical evidence of health benefits and expanding applications in specialty foods and beverages.
- Naturally derived substances, consisting of herbal and botanical extracts and animal- and marine-based derivatives, will be the fastest growing ingredient segment
- Increasing economic prosperity will enable countries, such as the BRIC countries of Brazil, Russia, India and China, as well as Mexico, Poland and South Korea, to expand and diversify their food and beverage, processing, and pharmaceutical industries.
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/nutraceutical-ingredients-market
For the purpose of this report, Reports and Data has segmented the Nutraceutical Ingredients market on the basis of type, application, health benefits, form, and region:
Type (Revenue in Billion USD; Volume in Kilotons 2017–2027)
- Proteins & Amino Acids
- Phytochemicals & Plant Extracts
- Fibers & Specialty Carbohydrates
- Omega 3 fatty acids
Application (Revenue in Billion USD; Volume in Kilotons 2017–2027)
- Meat and meat products
- Baby food
- Energy drinks
- Health drinks
- Personal care
- Animal Nutrition
- Dietary Supplements
Form (Revenue in Billion USD; Volume in Kilotons 2017–2027)
Regional Outlook (Revenue in Million USD; Volume in Kilotons; 2017–2027)
- North America
- Asia Pacific
- Middle East & Africa
- Latin America
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Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2017 – 2027
Chapter 3. Indicative Metrics
3.1. Rising demand for fortified food
3.2. Increased awareness among customers
3.3. Technological innovations in Nutraceutical Ingredients Industry
Chapter 4. Nutraceutical Ingredients Segmentation & Impact Analysis
4.1. Nutraceutical Ingredients Segmentation Analysis
4.2. Nutraceutical Ingredients Market Value Chain Analysis, 2017-2027
4.3. Regulatory framework
4.4. Nutraceutical Ingredients Market Impact Analysis
4.4.1. Market driver analysis
4.4.2. Market restraint analysis
4.5. Key opportunities prioritized
4.6. Nutraceutical Ingredients Pricing Analysis
4.7. Industry analysis – Porter’s
4.8. Nutraceutical Ingredients PESTEL Analysis
Chapter 10. Competitive Landscape
10.1. Market Revenue Share by Manufacturers
10.2. Manufacturing Cost Breakdown Analysis
10.3. Mergers & Acquisitions
10.4. Strategy Benchmarking
10.5. Vendor Landscape
Chapter 11. Company Profiles
11.1.1. Company Overview
11.1.2. Financial Performance
11.1.3. Product Length Benchmarking
11.1.4. Strategic Initiatives
11.2.1. Company Overview
11.2.2. Financial Performance
11.2.3. Product Length Benchmarking
11.2.4. Strategic Initiatives
11.3.1. Company Overview
11.3.2. Financial Performance
11.3.3. Product Length Benchmarking
11.3.4. Strategic Initiatives
11.4. Omega Protein Corporation
11.4.1. Company Overview
11.4.2. Financial Performance
11.4.3. Product Length Benchmarking
11.4.4. Strategic Initiatives
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