Nutraceutical Ingredients Market Size, Share & Industry Analysis, By Type (Probiotics, Vitamins, Minerals, Protein and Amino Acids, Dietary Fibers, Others), By Application (Dietary Supplements, Functional Food and Beverage, Animal Nutrition, Others) Others and Regional Forecast, 2024-2032

The healthy-eating trend has dominated the global food and beverage marketplace with consumers becoming increasingly conscious about their dietary choices. The quest for obtaining high quality, superior nutrition amid growing incidences of lifestyle disorders has brought nutraceuticals to the forefront. The significance of nutraceuticals become all the more important in emerging markets where mortality due to nutrition-related factors is nearly 40 percent. The emergence of associated scientific and clinical findings highlighting the benefits of nutraceutical ingredients have given the further boost to its market. 

Key Market Driver -

Benefits of nutraceutical ingredients and increased demand from health-conscious consumers in the backdrop of rising incidences of lifestyle diseases

Key Market Restraint -

Low consumer awareness & lack of stringent regulatory framework

The global market for nutraceutical ingredients is driven by increased demand from health-conscious consumers in the backdrop of rising incidences of lifestyle diseases. The mortality rates due to non-communicable diseases have grown very rapidly in the past few years, this has prompted consumers to take preventive measures by turning to nutraceutical ingredients owing to their numerous health benefits. The growing budgetary allocation for the healthcare sector is a clear driving force for the overall market growth.

The lack of regulatory framework especially in the developing economies and the low consumer awareness can create an impediment for the market. The future growth opportunities of the market can be manifested in the form of higher funds being channelized for R&D activities of these ingredients. 

Key Players Covered:

Major market players performing in global nutraceutical ingredients market include Cargill, DowDuPont, Archer Daniels Midland Company, DSM N.V., Ingredion Incorporated, Associated British Foods Plc, and BASF SE.

The nutraceutical ingredient segment that is projecting genuine and certified health claims are bound to experience greater growth during the forecast period amid rising consumer consciousness towards health claims and nutritional labelling. The manufacturers and food processors are particularly inclined to the ingredients exhibiting better process-ability and wide application spectrum. The recent introduction on the regulatory definition for “dietary fiber” by United States Food and Drug Administration (FDA) has provided a strong boost to non-digestible carbohydrates by giving them recognition and a status of fiber.

Among applications, functional food and beverage is expected to register one of the leading growth rates during the forecast period with the consumer inclination towards wholesomeness of food, and clean-eating.

Regional Analysis:

North America and Europe are leading regional markets for nutraceutical ingredients owing to strong consumer’s demand. U.S. is one of the leading market in terms of product offerings and the wider acceptability of nutraceutical ingredients among consumers of all age-group. Europe, on the other hand, has some of the globally established nutraceutical ingredient manufacturers. The scale of innovation and new product development are expected to propel its regional market in the foreseeable future.  The stringency on the labelling claims along with the tightening regulatory scanner in the developed market will negatively affect the innovation and associated sales margins. 

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The growth of nutraceutical ingredients in emerging economies such as India is very robust – the favorable population dynamics along with conscious efforts from the governments in the direction of improving the overall healthcare sector is expected to provide further traction to its market growth. China, for instance, has been one of the rapidly emerging markets for nutraceutical ingredients, thereby leading the growth trajectory of the Asia Pacific region. India has not been far behind and is expected to attain robust sales performance in the foreseeable period. 

Segmentation

 Key Industry Developments

• In January 2019, The Mibelle Group, a renowned brand serving Personal Care, Home Care and Nutrition sectors launched fermented-honey prebiotic skin care ingredient.


• In March 2017, Ingredion Incorporated, a global provider of ingredient solutions launched SUSTRA 2434 slowly digestible carbohydrate, a clean label starch-based solution for manufacturers of energy-focused nutritional products including bars, shakes, mixes, snacks, and supplements.