Nutraceutical means a fortified food or dietary supplement that provides health benefits in addition to its basic nutritional value. However, it is used to describe any product derived from food sources with extra health benefits. Nutraceuticals can be classified based on their natural sources, pharmacological conditions and chemical constitution of the product. The term nutraceutical was coined combining two words i.e. nutrient and pharmaceutical. Nutraceutical products have gained noticeable interest due to their potential nutritional, safety and therapeutic effects. Furthermore, nutraceutical products play a major role in a plethora of biological process including cell proliferation, antioxidant defenses, and gene expression.
Figure 1: Global Nutraceutical Ingredients Market by Segments
The global nutraceutical Ingredients market was sized over USD 25 billion in 2016. The global nutraceutical ingredients market is projected to grow with a CAGR of 7.0% during 2018-2024. Increasing chronic diseases due to the fast-phased lifestyle of consumer results in rising awareness in a healthy diet are the prime factor driving the growth of the global nutraceutical ingredients market. Furthermore, rising use of nutraceutical ingredients in pharmaceutical drugs due to its properties such as anti-aging, proper body functioning and health improvement will drive the nutraceutical ingredient market globally. Moreover, increasing use of nutraceutical ingredients in food and beverages application and dietary supplement is anticipated to further drive the global nutraceutical ingredients market over the forecast period. However, the high price of nutraceutical ingredients and improper balance in demand and supply, as well as undefined regulatory guidelines, are the key factors restraining the growth of global nutraceutical ingredients market over the forecast period. Hence, increasing the use of nutraceutical ingredient in animal nutrition and increasing demand for these ingredients from the cosmetics application will bring more opportunities to the global nutraceutical ingredients market over the forecast period.
The report on global nutraceutical Ingredients market covers segments such as type, application, form, health benefit, and region. Market segmentation based on type includes prebiotics, probiotics, proteins & amino acid, vitamins, minerals, omega-3 fatty acids, carotenoids & antioxidants, fibers & specialty carbohydrates and others. Moreover, the global nutraceutical ingredients market based on application is segmented into dietary supplements, functional food & beverages, animal nutrition, and personal care. Furthermore, the nutraceutical ingredients market based on the form is segmented into dry, liquid and semi-solid. Global nutraceutical ingredients market segmentation based on health benefits includes gut health, bone health, immunity, nutrition, weight management and others.
The report provides regional an analysis covering geographies such as North America, Europe, Asia-Pacific, Latin America and Rest of the World. In this section, the key trends and market size for each geography are provided over the period of 2016 -2024.
Figure 2: Global Nutraceutical Ingredients Market by Region
The Asia-Pacific accounted for the largest share of the market both in terms of volume and revenue due to the presence of emerging economies such as India, China as they are the prime users of nutraceutical ingredients. Furthermore, the Asia-Pacific nutraceutical ingredients market is driven by the growing incidence of chronic diseases and rising consumer awareness as well as the rapidly aging population in the economies such as Japan and China. North America accounted as the second largest market for nutraceutical ingredients followed by the Asia-Pacific. The U.S. is anticipated to be the prominent market in this region due to increasing awareness regarding health diet and increasing intake of dietary supplements which will in turn result in driving the North America nutraceutical ingredients market. Moreover, Europe nutraceutical ingredients market is also expected to witness moderate growth over the forecast period due to the rising demand for nutraceutical ingredients from the applications such as animal nutrition and pharmaceutical industry. Nevertheless, Latin America grouped in the RoW nutraceutical market is likely to witness rapid growth due to the rising demand for nutraceutical ingredients from personal care and functional food & beverages application over the forecast period.
The companies covered in the report include E.I. du Pont de Nemours & Company, Cargill Inc., DSM Nutritional Products, BASF SE, Archer Daniels Midland Company, Aland (Jiangsu) Nutraceutical Company Ltd., Ajinomoto Inc., NutraMarks Inc., Danone, Nestle S.A., PepsiCo Inc., Adisseo France S.A.S, Kyowa Hakko Bio Co. Ltd., and Tate and Lyle North America Inc.
The report provides deep insights on demand forecasts, market trends and micro and macro indicators. In addition, this report provides insights on the factors that are driving and restraining the demand for nutraceutical ingredients globally as well as regionally. Moreover, IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter’s five forces analysis and DRO analysis of nutraceutical Ingredients.
Moreover, the study highlights current market trends and provides forecast from 2018 to 2024. We also have highlighted future trends in the nutraceutical ingredients market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players. This report will help manufacturers, suppliers, and distributors of the nutraceutical ingredients market to understand the present and future trends in this market and formulate their strategies accordingly.
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