Competition is expected to remain high from 2018 to 2024 in the Global Nutraceutical Ingredients Market as top 5 companies accounted for more than 50% revenues in the world market over the past couple of years. Other companies operating in this market are more focused on research and development and innovations to remain competitive in the market. During this time, the market will witness a slew of launches as manufacturers invest in the research & development of plant-derived nutraceutical ingredients. According to a new study by Infinium Global Research, increasing use of nutraceutical ingredient in animal nutrition and increasing demand for these ingredients from the cosmetics application, which will offer a fresh burst of opportunities to the global nutraceutical ingredients market. The market players are also likely to benefit from plant-derived nutraceutical ingredients. In the study, Infinium Global Research has highlighted companies including 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.
Infinium Global Research states that the global nutraceutical ingredients market surpassed USD 25 bn in 2016. Rising at a steady 7.0% CAGR between 2018 and 2024, the market is likely to witness substantial growth in the developed as well as developing markets in the world. In 2016, Asia Pacific led the global nutraceutical ingredients market, which is attributable to the rising consumption of nutritional ingredients especially in emerging economies such as India, China. As per the report, the by growing incidence of chronic diseases and rising consumers awareness as well as rapidly aging population in the economies such as Japan and China, finds Infinium Global Research.
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Rising Awareness in Healthy Diet to Push Demand for Nutraceutical Ingredients
Increasing chronic diseases due to the fast-phased lifestyle of consumer especially in developed countries results in rising awareness for healthy diet, which is the prime factor driving the growth of global nutraceutical ingredients market.
Rising Use of Nutraceutical Ingredients in Pharmaceutical Drugs
Growth rate is likely to remain steady for the global nutraceutical ingredients market in the coming years, driven by product development and usage, rising incidence of chronic disease, obesity worldwide. On the flip side, the high cost and undefined regulatory guideline may create hindrances for established market players.
The report segments the global nutraceutical ingredients market as:
Global Nutraceutical Ingredients Market, by Type
· Proteins & Amino Acid
· Omega – 3 fatty acids
· Carotenoids & Antioxidants
· Fibers & Specialty Carbohydrates
Global Nutraceutical Ingredients Market, by Application
· Dietary Supplements
· Functional Food & Beverages
· Animal Nutrition
· Personal Care
Global Nutraceutical Ingredients Market, by Form
Global Nutraceutical Ingredients Market, by Health Benefits
· Gut Health
· Bone Health
· Weight Management