Global Nutraceutical Ingredients Market will witness robust growth owing to increasing demand for anti-aging products. Nutraceutical ingredients including, antioxidants and natural herbs protect skin from multiple diseases & infections. Rapid expansion of personal care industry will further drive the product demand.
Increasing penetration of chronic diseases will drive nutraceutical ingredients market. Key properties including prevention from hardening of heart arteries and cholesterol, blood clotting & inflammation reduction will support product penetration. Growing concern regarding longer life span and potential application scope in animal nutrition and food & beverage industry will propel the product demand.
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Changing consumer preferences & demographics along with increase in research & development activity is expected to drive nutraceutical ingredients market. Upsurge in geriatric & obese population, type 2 diabetes patients & expenses related to health & personal care will provide lucrative opportunities for the product market.
Nutraceutical is a substance considered as the food or a part of food that provides nutritional value to diet. It is also known as functional food that contain pharmaceutical-grade and standardized nutrient. The product acts as a source for nutritional supplement to body through diet & works to prevent diseases.
However, high raw material production cost for nutraceuticals product may restrict the consumers to avail its features. Consumers are likely to switch to low cost alternative proteins. Further, limited quality nutraceutical manufacturing has increased the concern to fill demand and supply gap. In addition, the product supply through lab-to-market pipeline is generally time consuming. Increased competition, lack of awareness and advertisement about product benefits may hamper the industry growth.
Nutraceutical ingredients contain prebiotics, probiotics, glucosamine, chondroitin, protein & amino acids, vitamins, minerals, omega 3 fatty acids, carotenoids, fibres & speciality carbohydrates, peptides, fibres, phytochemical and plant extracts. The fibres & specialty carbohydrates segment is driven with rise in gastrointestinal disorders and obesity concern.
On the basis of form, the market is segmented as dry, liquid and semi-liquid form. Dry form will account for the largest industry share as its formulation process is comparatively easier, particularly for manufacturing high volume. Moreover, dry form preserves the flavour and colour of the food & beverage products and provides benefits in terms of easy handling and storage, which is difficult with liquid ingredients. It is used in various applications including, functional food & beverages, dietary supplements, animal nutrition and personal care. Dietary supplements are projected to be the fastest growing segment with rising demand for sports & nutritional products and increasing protein intake by fitness enthusiasts and athletes.
Nutraceutical ingredients are used in various end-use industries including, animal feed, food & beverage and pharmaceutical. The animal feed end-use segment is likely to be the fastest growing as it improves gut health and immunity of animals. Further, rising disease outbreak in animals will support the product application scope.
North America nutraceutical ingredients market will foresee noteworthy growth owing to substantial investments in healthcare sector. Increasing product application in pharmaceutical drugs owing to its effective properties including, anti-aging will drive industry growth. Continuous research & development activity regarding plant-derived products is resulting in high product demand.
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Asia Pacific nutraceutical ingredients market will witness substantial growth owing to presence of prominent pharmaceutical and functional food & beverage products manufacturers. Rapid urbanization, increasing disposable income & consumer awareness and busy lifestyle have increased product demand.
Global nutraceutical ingredients market is moderately consolidated with presence of various renowned players in the industry. The key market players are Archer Daniels Midland Company, Cargill, DSM,BASF, Nestlé, Danone, duPont, PepsiCo, General Mills. Other key players are Blytheco, Pharmachem, Balchem Corp, Sydler India, Aker BioMarine, Barrington Nutritionals and Marlyn.
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