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Nutraceutical ingredients market size to grow by USD 11.16 billion from 2022 to 2027, APAC is estimated to account for 32% of the growth of the global market, Technavio

Research report focuses on top companies and crucial drivers, current growth dynamics, futuristic opportunities, and new product/project launches

NEW YORK, March 8, 2024 /PRNewswire/ — The nutraceutical ingredients market size is expected to grow by USD 11.16 billion from 2022 to 2027 at a CAGR of 4.48% during the forecast period. In the forecast period, the APAC region is anticipated to play a pivotal role, accounting for 32% of global market growth. Technavio analysts have provided comprehensive insights into regional market dynamics and key drivers shaping the industry landscape. Notably, the surge in demand for herbal ingredients, particularly in China and India, is fueling market expansion. This trend is driven by consumer perceptions linking herbal ingredients to essential nutrients and health benefits. Economic prosperity and population growth in the APAC region are significant contributors to this rising demand. Furthermore, heightened health consciousness among consumers and the quest for nutritious dietary supplements are amplifying the market’s momentum in the region.

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Report Coverage

Details

Page number

174

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 4.48%

Market growth 2023-2027

USD 11.16 billion

Market structure

Fragmented

YoY growth 2022-2023(%)

3.36

Regional analysis

APAC, Europe, North America, South America, and Middle East and Africa

Performing market contribution

APAC at 32%

Key countries

US, China, Japan, Germany, and France

Key Company

The nutraceutical ingredients market is fragmented, and the vendors are deploying organic and inorganic growth strategies to compete in the market. The high prices and stringent regulations related to food safety limit the use of nutraceutical ingredients, which hampers the profitability of vendors. Therefore, to survive and succeed in such a competitive environment, it becomes imperative for vendors to distinguish their offerings through clear and unique value propositions. New launches in target segments will help companies improve their market position, which would intensify the competition among vendors during the forecast period.

  • Ajinomoto Co. Inc. – The company offers amino L40 health supplement, which is designed to support muscle recovery and promote healthy muscles.
  • Amway Corp. – The company offers nutraceutical ingredients that are designed to bridge the protein gap in daily diet.
  • Archer Daniels Midland Co. – The company offers acidulant nutraceutical ingredient, which helps cure throat infection.
  • Arla Foods amba – The company offers hydrolysates protein supplement, which helps cure bone health issues and improves weight management.

The health benefits of nutraceutical ingredients are driving market growth. 

Nutraceutical ingredients mainly include nutraceuticals and functional food ingredients. They provide various health benefits as well as basic nutritional needs. For example, nutraceutical ingredients such as antioxidants, fiber, omega-3 fatty acids, vitamins, and minerals help prevent cardiovascular disease. The rising prevalence of chronic diseases has compelled people to be more conscious of their diet. Therefore, they are opting for food and beverage products that offer the right nutritional value. This is expected to fuel the growth of the market during the forecast period.

For market’s vendor landscape highlights with a comprehensive list of vendors and their offerings – View a sample in minutes

Key market segmentation

  • Application 
    • Functional food and beverage
    • Dietary supplements
    • Others

The functional food and beverage segment will account for a significant share of market growth during the forecast period. Nutraceutical ingredients are used in various functional foods and beverages. They are generally consumed as part of the daily diet. These ingredients contain certain biologically active ingredients that improve health and reduce disease risks. Some functional foods and beverages contain certain minerals, vitamins, fatty acids, and fiber. Nutraceutical ingredients are increasingly being incorporated into various functional foods and beverages. These factors are expected to drive the growth of this segment during the forecast period.

  • Form factor
  • Geography 
    • APAC
    • Europe
    • North America
    • South America
    • Middle East and Africa

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Companies mentioned

  • Ajinomoto Co. Inc.
  • Amway Corp.
  • Archer Daniels Midland Co.
  • Arla Foods amba
  • Associated British Foods Plc
  • BASF SE
  • Cargill Inc.
  • Danone SA
  • DuPont de Nemours Inc.
  • EID Parry India Ltd.
  • General Mills Inc.
  • Herbalife International of America Inc.
  • Koninklijke DSM NV
  • Natrol LLC
  • Nestle SA
  • Reckitt Benckiser Group Plc
  • Tate and Lyle Plc
  • The Lubrizol Corp.
  • Valensa International
  • Advanced Orthomolecular Research Inc.

Analyst Review

The Nutraceutical Ingredients Market stands at the forefront of preventive healthcare solutions, catering to a spectrum of health concerns from cardiovascular diseases to digestive problems. With a surge in consumer interest towards health consciousness, this industry witnesses a continuous influx of both established players and new entrants, leveraging scientific advancement and technology and innovation to meet evolving demands.

Within this landscape, key players like the World Health Organization, United Nations’ Food and Agricultural Organization, and the World Food Programme play pivotal roles in advocating for preventive methods and combating lifestyle-related diseases. Moreover, organizations like CSIRO contribute significantly to nutritional studies and research, driving the nutraceutical industry forward.

The nutraceutical ingredients market thrives on addressing a myriad of health issues, ranging from overweight and related conditions to chronic diseases such as diabetes, high blood pressure, and obesity. This is especially critical in the context of an aging population and shifting eating patterns, where fortified food products and functional beverages emerge as viable solutions.

AI integration further propels the nutraceutical ingredients market, enhancing personalized preventive healthcare solutions and optimizing nutritional interventions. This is particularly relevant for athletes and sportspeople facing metabolic stress, where tailored nutraceutical regimes support immune systems and gut health.

In the pursuit of wellbeing, consumers are increasingly drawn to nutraceutical offerings that address specific concerns such as constipation, bloating, and indigestion, thereby driving demand for probiotic segments and power gummies. Such products resonate well with individuals seeking alternative cures and healthcare solutions beyond expensive treatments.

As disposable incomes rise, there’s a growing inclination towards personal care products infused with nutraceutical ingredients, reflecting a holistic approach to health and wellness. Fortified food and beverages emerge as integral components of lifestyle-related disease management, supported by governmental initiatives and regulatory frameworks promoting functional foods and dietary supplements.

In conclusion, the nutraceutical ingredients market is poised for robust growth, driven by consumer awareness, scientific research, and a collective effort towards prevention over cure.

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Market Overview

The Nutraceutical Ingredients Market is witnessing robust growth, driven by increasing awareness of health and wellness. Key players like the World Health Organization and United Nations’ Food and Agricultural Organization are advocating for the consumption of probiotic supplements, which enhance gut health and boost immunity. Moreover, initiatives by organizations like the World Food Programme are addressing malnutrition through fortified foods. CSIRO (Commonwealth Scientific and Industrial Research Organisation) plays a pivotal role in research and development, ensuring the efficacy and safety of nutraceutical products. Power gummies are gaining popularity as convenient and tasty nutritional supplements. This market’s expansion is not only benefiting human health but also impacting the animal feed industry with innovations in functional ingredients.

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Related reports:

The global functional food ingredients market size is estimated to grow by USD 48.06 billion at a CAGR of 7.16% between 2022 and 2027.

The fragrance ingredients market is estimated to grow at a CAGR of 4.8% between 2022 and 2027. The size of the market is forecasted to increase by USD 3,839.31 million.

TOC

  1. Executive Summary
  2. Market Landscape
  3. Market Sizing
  4. Historic Market Size
  5. Five Forces Analysis
  6. Market Segmentation by Application
  7. Market Segmentation by Form Factor
  8. Customer Landscape
  9. Geographic Landscape
  10. Drivers, Challenges, and Trends
  11. Company Landscape
  12. Company Analysis
  13. Appendix

About US
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio

Originally published at https://www.prnewswire.com/news-releases/nutraceutical-ingredients-market-size-to-grow-by-usd-11-16-billion-from-2022-to-2027–apac-is-estimated-to-account-for-32-of-the-growth-of-the-global-market-technavio-302082996.html
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