(PharmaNewsWire.Com, March 05, 2021 ) Meticulous Research®– leading global market research company published a research report titled “Nutraceutical Ingredients Market by Product Type (Vitamins, Amino Acids, Probiotic, Minerals), Derivation Method (Natural, Synthetic), Form, Application (Dietary Supplements, Infant & Maternal Nutrition), End User, and Geography – Global Forecast to 2025”.
According to this latest publication from Meticulous Research®, the global Nutraceutical Ingredients Market is expected to grow at a CAGR of 7.8% from 2019 to reach $57.5 billion by 2025. The high growth of nutraceutical ingredients market is mainly attributed to growing health concerns among consumers, which results in high demand for fortified foods; increasing incidence of non-communicable chronic diseases and other health issues; and rising use of nutraceutical ingredients in food and beverage and animal nutrition application. In addition, growing research and development of new nutraceutical products in food and beverage industry and establishment of new food and beverage manufacturing units and mega food parks provides ample of opportunities to the market vendors. However, high cost and consumer’s misbelief about nutraceuticals may hinder the growth of nutraceutical ingredients market to some extent.
The global Nutraceutical Ingredients Market study presents historical market data in terms of values (2017 and 2018), estimated current data (2019), and forecasts for 2025- by product type (vitamins, proteins and amino acids, probiotic, minerals, omega-3 fatty acids, fibers and specialty carbohydrates, prebiotic, phytochemicals and plant extract, others), derivation method (natural and synthetic), form (dry and liquid), application (dietary supplements, functional Nutrients, infant and maternal nutrition, medical nutrition, animal nutrition), end use industries (food and beverage industry, pharmaceutical, animal feed, and personal care). The study also evaluates industry competitors and analyzes the market at regional and country level.
Based on product type, the vitamins segment is expected to account for the largest share of overall nutraceutical ingredients market in 2019. The large market share of this segment is mainly attributed to its high demand from nutritional and fortified food sector and increasing consumer awareness about micronutrient deficiencies.
Based on derivation method, the natural segment is expected to account for the largest share of the overall nutraceutical ingredients market in 2019 and is projected to grow at the highest rate during forecast period. The growth of this segment is mainly attributed to increased consumer confidence in organic foods as well as their concern about possible health risks and side effects associated with inorganic food and synthetic chemicals.
Based on form, dry segment is expected to account for the largest share of the overall nutraceutical ingredients market in 2019. High stability, good shelf life, and ease of handling during processing and transportation are the key factors responsible for the large share of this segment.
Based on application, dietary supplement segment is expected to account for the largest share of the overall nutraceutical ingredients market in 2019. The large share of this segment is attributed to growing global burden of diseases and the fact that the consumers are becoming more health conscious and demanding supplements to increase the nutrition content of the diet. However, infant and maternal nutrition segment is projected to grow with the highest rate during the forecast period, owing to increase in number of working women population and rise in infant population. Nutraceutical ingredients are used to manufacture many infant foods, such as baby food (cerelac, daliya, porridge, snacks), infant formula, organic fruit purees, and health drinks.
Based on end user, food and beverage industry is estimated to account for the largest share of the overall nutraceutical ingredients market in 2019. The largest share of this segment is mainly due to the increasing application of nutraceutical ingredients in human nutrition and rising consumer demand for healthy, nutritional, and fortified food and beverages. However, personal care segment is projected to grow at the highest rate, as the global beauty industry, for both men and women, and demand for supplements which support anti-aging, skin protection, skin darkening, hydration, and more is growing rapidly. Personal care industry incorporates nutraceutical ingredients in products to provide enhanced health benefits with the specific requirements of the consumers.
This research report analyzes major geographies and provides comprehensive analysis for North America (U.S., Canada, and Mexico), Europe (Germany, France, U.K., Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, and RoAPAC), Latin America, and Middle East & Africa). Asia Pacific region is expected to witness high growth during the forecast period. The growth in this market is driven by increasing prevalence of chronic diseases, increasing government spending on the healthcare, and growing disposable income of the population. In addition, factors such as changing lifestyle and eating habits; growing consumer demand for nutritional & health promoting products; and large demand for food, beverages, dietary supplements, functional food, and personal care products further support the growth of the nutraceutical ingredients market in the region.
Key Players:
The major players operating in the global nutraceutical ingredients market are Associated British Foods plc (London), Arla Foods (Denmark), Koninklijke DSM N.V., (The Netherlands),Ingredion Incorporated (U.S.), Tate & Lyle PLC (U.K.), Ajinomoto CO. INC. (Japan), Chr. Hansen Holding A/S (Denmark), Glanbia PLC (Ireland), Fonterra Co-operative Group Limited (New Zealand), Cargill, Incorporated (U.S.), Archer Daniels Midland Company (U.S.), DuPont de Nemours, Inc. (U.S.), BASF SE (Germany), and Kerry Inc. (Ireland), among others.
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