Nutraceutical ingredients market worth $227bn by 2025
A new market report has revealed that the nutraceutical ingredients market is expected to be worth $227bn by 2025, and will grow significantly.
According to the new market research report “Nutraceutical Ingredients Market by Type (Probiotics, Proteins, Amino Acids, Phytochemicals & Plant Extracts, Fibers & Specialty Carbohydrates), Application (Food, Beverages, Animal Nutrition, Dietary Supplements), Form, and Region – Global Forecast to 2025”, published by MarketsandMarkets™, the Nutraceutical Ingredients Market is estimated to be valued at USD 162.1 billion in 2020 and is projected to reach USD 227.5 billion by 2025, at a CAGR of 7.0%. The growth of the nutraceutical ingredients market is driven by the growth in the demand for fortified food owing to the increasing health consciousness amongst consumers.
The probiotic segment is estimated to be the largest in 2020
The nutraceutical ingredients markets, by type, is estimated to be dominated by the probiotic segment in 2020. Probiotic ingredients have witnessed positive effects on the overall human health and are becoming one of the essential ingredients for various health & nutritional applications. Owing to which there is a wide range of probiotic-based applications in the functional food, functional beverage, dietary supplement, and animal nutritional industries.
The food segment is projected to dominate the market by 2025
The nutraceutical ingredients market, by application, is estimated to be dominated by the food segment in 2020. With the increasing awareness among consumers, the market for nutraceutical-based food is increasing as consumers prefer balanced diets and food that not only satisfies their hunger but also takes health into consideration. Therefore, the growth of the nutraceutical food market is widening its applications and creating growth opportunities for the nutraceutical ingredients market.
The dietary segment is projected to be the fastest-growing segment during the forecast period
The dietary supplement segment is projected to be the fastest-growing, by application, during the forecast period. Dietary supplements offer general health benefits such as improvement in the balance of the gut microflora, improvement of intestinal functions such as bulking and regularity, increased calcium absorption & improvement in bone density, enhancement of immune function, reduction in the release of toxins that can lead to fatty liver and other diseases, reduced risk of cardiovascular diseases, control of blood sugar, possible reduction of risk of obesity & metabolic syndrome, and improvement in abdominal pain, bloating, and constipation.
The Asia Pacific is projected to account for the largest market share during the forecast period
Asia Pacific is a dominant region in the global nutraceutical ingredients market. Busy lifestyles have led to an increase in the consumption of convenience food products and the rapid economic growth of countries in the region, which has driven the demand for fortified nutritional food & beverage products in the region. The application of nutraceutical ingredients is projected to increase at a rapid rate in the region due to a surge in demand and the presence of a large consumer base for food, beverages, dietary supplements, personal care products, and feed.
This report includes a study of the marketing and development strategies used, along with the product portfolios of leading companies. It consists of the profiles of leading manufacturers such as Associated British Foods (Uk), Arla Foods (Denmark), DSM (Netherlands), Ingredion Incorporated (US),Tate & Lyle PLC (UK), Ajinomoto Co., Inc. (Japan), Chr. Hansen (Denmark), Kyowa Hakko Kirin Group (Japan),Glanbia plc (Ireland),Fonterra Co-operative Group Ltd. (New Zealand),Cargill (US),ADM (US), DuPont (US), BASF (Germany) are the players that hold a significant share in the nutraceutical ingredients market.