Nutraceutical Ingredients Market is anticipated to grow at 6.8% CAGR from 2019 to 2030
Market Industry Reports (MIR) has published a new report titled “Nutraceutical Ingredients Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2030.” According to the report, the global nutraceutical ingredients market is estimated to be over US$ 150 Mn in 2019. It is anticipated to grow at 6.8% CAGR from 2019 to 2030.
Nutraceutical ingredients are important to promote health and reduce the risk of diseases. Nutraceutical ingredients can be used for a wide range of applications including bread, biscuits, cereals, dietary supplements, and powder drinks. They easily fit into peoples daily diet and offer nutritional benefits and lifestyle-oriented wellness. The nutraceutical ingredient market is expecting dynamic growth opportunities. The increasing demand for nutraceuticals is driven by increasing consciousness about health & fitness among consumers. Moreover, increasing incidences of chronic diseases are expected to contribute to the substantial growth of nutraceutical ingredients globally. However, the high cost of fortified products will hamper market growth to a certain extent.
Dietary supplements and functional food reduce the risk of diseases and help to maintain good health. Probiotics, phytochemicals, and antioxidants, among others, improve health, prevent chronic diseases, delay the aging process, and increase life expectancy. There is a wide variety of nutraceuticals available for general well-being and those which play an important role in the prevention and treatment of disease. These products have shown favorable results in various pathological complications such as neurological disorders, cardiovascular disorders, and cancer, among others.
Increasing workloads, psychological pressures, longer work hours, among others have changed the lifestyle of people. They go through physical, mental, and social stress due to poor work-life balance. This imbalanced lifestyle have generated several health challenges, such as diabetes, osteoporosis, asthma, obesity, allergies, and dental problems. To achieve a better quality of life, people are following strict diets and consuming dietary supplements and nutraceuticals to achieve therapeutic outcomes.
Browse key industry insights spread across 180 pages with market data tables & figures & charts from the report, 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 in detail along with the table of contents:https://www.marketindustryreports.com/nutraceutical-ingredients-market/150
The market growth may be restricted due to the heavy expenditure involved in R&D activities and the high selling price of fortified foods, dissuading their large-scale usage and adoption. Consumers are likely to switch to low-cost alternative proteins that are extensively available.
Asia Pacific is estimated to account for the largest market share during the forecast period. Increasing population, urbanization, rising incomes and consumers preferences for nutritional and health products are driving the nutraceutical market. Moreover, the prevalence of health-related problems will further propel market growth.
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.
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