Nutraceutical Ingredients Market By Type (Proteins & Amino Acids, Probiotics, Vitamins, Carotenoids, and Others), Application (Food, Beverages, Personal Care, and Dietary Supplements), Form (Dry and Liquid), Health Benefits (Cognitive Health, Gut Health, Weight Management, and Bone Health) - Global Analysis & Forecast 2019-2030
Report ID : 150 | Published Date : May 2020 | Pages : 180 | Region : Global | Report Code : FB-11
Nutraceutical Ingredient Market Overview and Introduction
Nutraceutical ingredients have scientifically confirmed health benefits and find extensive applications in foods, drinks, dietary supplements, and nutritional preparations. People have become more proactive about health and customers are inclined toward healthy diets. Health-conscious consumers and rising healthcare costs are influencing the food & beverage industry.
An increase in the aging population in several countries and growing cases of chronic diseases generating health concerns in the minds of customers, and a shift in consumers’ eating habits will boost market growth. However, the high cost of fortified products may hamper market growth to a certain extent.
The global nutraceutical market is segmented by type, by application, by form, by health benefits, and by region.
Nutraceutical Ingredients Market By Type
Based on type, the nutraceutical ingredients market is segmented into proteins & amino acids, probiotics, vitamins, carotenoids, and others. The probiotics segment is estimated to account for the largest market share of global nutraceutical ingredients. This large share can be attributed to the wide-scale applications of probiotic products in cosmetics to restore the natural microflora of the skin and to improve gut health in humans and livestock. Moreover, expanding R&D centers and increasing investments from prominent players are propelling the nutraceutical ingredient market.
Nutraceutical Ingredients Market By Application
Based on application, the market can be segmented into food, beverages, personal care, dietary supplements, and others. In terms of CAGR, the personal care segment is estimated to witness the highest growth owing to urbanization, awareness about probiotics by beauty enthusiasts, growing disposable income, and the increased interest of consumers in boosting overall health. Moreover, the use of probiotics, proteins, vitamins, and essential oils in personal care products, such as lip care products, body lotions, and hair care products, among others, is further driving market growth.
Nutraceutical Ingredients Market By Form
Based on form, the nutraceutical ingredient market can be segmented into dry, liquid, and others. The dry segment is estimated to grow at a robust CAGR during the forecast period. Factors driving the segment growth include ease of handling and storage conditions when compared with the liquid form.
Nutraceutical Ingredients Market By Health Benefits
Based on health benefits, the nutraceuticals ingredients market has been segmented into cognitive health, gut health, weight management, bone health, and others. Nutraceuticals have been clinically proven for several health benefits. They are used for maintaining bone health, heart health, and immunity, among others. Probiotics are widely used to maintain gut health in humans and livestock. A wide range of nutraceuticals are available for general well-being and to reduce risks associated with various lifestyle oriented diseases.
Nutraceutical Ingredients Market By Region
The global nutraceutical ingredients market can be segmented into North America, Europe, Asia Pacific, and the Rest of the World (ROW). Asia Pacific is expected to witness the largest market share followed by North America and Europe. Factors such as rising awareness among consumers regarding health, rising geriatric population and growing consumer demand for functional foods are driving market growth. Moreover, the increasing prevalence of chronic diseases is further propelling the market.
Nutraceutical Ingredients Market Prominent Players
Some of the prominent players in the global nutraceutical ingredients market include DSM, Associated British Foods plc (ABF Ingredients), Arla Foods Ingredients Group P/S, INGREDION, Tate & Lyle, Ajinomoto Co., Inc., Cargill, Incorporated, ADM, Kerry Inc., and Glanbia plc, among others.