The report published by The Brainy Insights shows that the global nutraceutical ingredients market is expected to grow from USD 163.8 billion in 2021 to USD 308.8 billion by 2030, at a CAGR of 7.3% during the forecast period 2022-2030.
Nutraceutical ingredients are substances added to various functional foods to increase their nutritional value to food and beverages. Nutraceutical ingredients help enhance the final food item's taste, appearance, and sensory qualities. The increasing concept of "beauty from within" is rapidly trending among consumers, which has increased the consumption of nutraceutical products in pill form to avoid age spots, wrinkles, and grey hairs. Furthermore, the increasing demand for customized products has increased the development of innovative products. Manufacturers of nutraceutical products have started tracking consumers' behavior to help improve their products. For instance, Metabolaid is an app developed to track individuals' food consumption patterns to help them lose weight.
To enhance their market position in the global nutraceutical ingredients market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
Market growth and trends:
The demand for nutraceutical ingredients has been growing owing to consumers' increasing demand for nutraceutical products such as prebiotics, probiotics, and vitamins. Most of the nutraceutical’s ingredients are extracted from plants, animals, and microbes, which helps in providing extra nutritional value to food products. Furthermore, the increasing incidences of chronic diseases such as diabetes, blood pressure, obesity, and cardiovascular diseases and the deaths due to diabetes and respiratory diseases drive the market's growth. However, the inclusion of nutraceutical ingredients in pharmaceuticals, feed products, food & beverage products, and personal care products increases the price of the final products restraining the market's growth. Using the latest technologies for studying consumer behavior towards food and lifestyle is expected to provide growth opportunities for the market over the forecast period.
The product type segment is divided into proteins, probiotics, phytochemicals & plant extracts, amino acids, and fibers & specialty carbohydrates. In 2021, the probiotics segment dominated the market with the largest market share of 29% and market revenue of 47.5 billion. Probiotic ingredients are increasingly used in various applications such as beverages, dietary supplements, functional food, and animal nutritional industries, which drives the segment's growth.
The application segment is divided into food, beverages, animal nutrition, and dietary supplements. In 2021, the dietary supplements segment accounted for the largest share of the market, with 31% and a market revenue of 50.7 billion. The demand for nutraceutical ingredients for making dietary supplements is increasing owing to increasing health benefits such as increased absorption of calcium and bone density improvement, improvement of gut microflora balance, and control of blood sugar.
The form segment is divided into dry and liquid. In 2021, the dry segment accounted for the largest share of the market, with 55% and a market revenue of 90.0 billion. The dry form of nutraceutical ingredients helps preserve the color and flavor of food & beverage products and is easy to handle and store. The dry form of nutraceuticals ingredients is available in capsule or tablet form for dietary supplements, which drives the market's growth in the segment.
Regional Segment Analysis of the Nutraceutical Ingredients Market:
Among all regions, Asia Pacific emerged as the largest market for the global nutraceutical ingredients market, with a market share of around 35.92% and 58.8 billion of the market revenue in 2021. The increasing globalization in the food and beverages sector and economic development contribute to the growth of the nutraceutical ingredients market in the region. Furthermore, the demand for better and healthy food items with multiple nutrients, such as vitamins and minerals, is expected to increase the demand for nutraceutical ingredients in the region. Consumers in this region are increasingly spending on better food supplements and fortified products, which increasingly helped manufacturers of nutraceutical ingredients to find growth opportunities for the market.
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Key players operating in the global nutraceutical ingredients market are:
This study forecasts revenue at global, regional, and country levels from 2019 to 2030. Brainy Insights has segmented the global nutraceutical ingredients market based on the below-mentioned segments:
Global Nutraceutical Ingredients Market by Product Type:
Global Nutraceutical Ingredients Market by Application:
Global Nutraceutical Ingredients Market by Form:
About the report:
The global nutraceutical ingredients market is analyzed based on value (USD Billion). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyzes driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.