Nutraceutical Ingredients Market Will Reach Nearly USD 266.9 by 2027, Expanding at a CAGR of 7.2%

According to the current analysis of Reports and Data, the global Nutraceutical Ingredients market was valued at USD 164.3 billion in 2019 and is expected to reach USD 266.9 billion by the year 2027, at a CAGR of 6.8%. Nutraceutical ingredients are derived from sources such as animal, plant, microbial, and synthetic, which provide health benefits, adding the primary nutritional value and functional benefits to various applications such as food, beverages, animal nutrition, and personal care products. The industry comprises two principal segments: functional foods and nutritional supplements.

The growth of the industry is attributed to the growing consumer demand for fortified food & beverages, the increasing number of incidences of chronic diseases, and mandates on food fortification by government organizations due to inadequate levels of vitamins and minerals in the human body. The growth of the market is restricted due to higher costs of fortified products and different regulatory frameworks in different countries for nutraceutical ingredients; however, the high raw material production cost for nutraceuticals product may limit the consumers to avail its features. Consumers are likely to have better options to switch for low-cost alternative proteins. Limited quality nutraceutical manufacturing has increased the need to fill demand and supply gap. Also, the product supply through the lab-to-market pipeline is generally time-consuming. Increased competition in the market, lack of awareness, and advertisement about product benefits may prove to be hindrances to the market growth.

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Nutraceutical are those that combine technological and health properties and are substances with clinically confirmed health benefits and have broad applications in foods, beverages, and nutritional preparations. It is a substance considered as the food or a part of food that provides nutritional value to the diet.

It is also known as a functional food that contains pharmaceutical-grade and standardized nutrient. With increasing educational level, people are becoming ready to accept different types of food & beverages that have added nutritional ingredient. Hence with this change, nutraceutical ingredient is gaining importance.

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Further key findings from the report suggest

• The animal nutrition application of the industry is expected to surge with a CAGR of 6.0 % during the forecast period

• The dry segment by the form is projected to dominate the market due to better stability and ease of handling & storage, as compared to the liquid form. Several nutraceutical ingredients that are used in the dry form are vitamins, amino acids, prebiotic & probiotic premixes, proteins, and minerals such as zinc and folic acid. These are either available in the form of capsules or compressed into tablets.

• Rising health care costs, increasing rates of childhood obesity, increasing incidence of type 2 diabetes and a greater understanding of the links between nutrition and well-being are augmenting market growth.
• The rising popularity of homeopathic remedies, coupled with widespread trends promoting preventive medicine and self-treatment, will impact favorably on global demand for numerous other natural nutraceutical ingredients, including cranberry, garlic, ginkgo biloba and ginseng extracts; and glucosamine and chondroitin.

• The functional active products includes amino acids, vitamins & Mineral extracts, herbal extracts, fruit extracts, vegetable extracts, enzymes, slimming agents and joint health improving agents.
• Functional additives and fiber nutrients will also fare well in the global marketplace, with demand gaining upward momentum from increasing clinical evidence of health benefits and expanding applications in specialty foods and beverages.

• Naturally derived substances, consisting of herbal and botanical extracts and animal- and marine-based derivatives, will be the fastest growing ingredient segment

• Increasing economic prosperity will enable countries, such as the BRIC countries of Brazil, Russia, India and China, as well as Mexico, Poland and South Korea, to expand and diversify their food and beverage, processing, and pharmaceutical industries. Based on projected investment levels in these industries and rising consumer incomes, China will evolve into the largest global producer and consumer of nutraceutical ingredients by 2020, surpassing the United States and Western Europe.

• Other than traditional ingredients including vitamins, minerals, proteins, carotenoids, and fibers, formulators have started to include ingredients such as plant sterols, polyphenols, probiotics, and fatty acids in nutraceutical products.

• Nutrients, including proteins, fibers and various specialized functional additives, will remain the top-selling group of nutraceutical ingredients.

• In recent years, Singapore is known to be a focal point for research and development in the industry. Nutraceutical ingredient companies, including DuPont, Tate & Lyle, DSM, and Wacker, have increased their activities in the region is too supporting this fact. In 2017, BASF opened a new technical applications laboratory in Singapore for its nutrition and health business, called Nutrition Lab, to boost regional R&D capabilities.

• The global Nutraceutical Ingredients market is considerably fragmented with significant players like LB Minerals Ltd., Imerys S.A., KaMin LLC, Thiele Nutraceutical Ingredients Company, EICL Ltd., and Nutraceutical Ingredients AD among others that collectively constitute a competitive market.

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For the purpose of this report, Reports and Data has segmented the Nutraceutical Ingredients market on the basis of type, application, health benefits, form, and region:

Type (Revenue in Billion USD; Volume in Kilotons 2016-2027)

• Probiotics
• Proteins & Amino Acids
• Phytochemicals & Plant Extracts
• Fibers & Specialty Carbohydrates
• Omega 3 fatty acids
• Vitamins
• Prebiotic
• Carotenoids
• Minerals
• Others

Application (Revenue in Billion USD; Volume in Kilotons 2016-2027)

• Food
o Snacks
o Confectionary
o Dairy
o Bakery
o Meat and meat products
o Baby food
o Others
• Beverages
o Energy drinks
o Juices
o Health drinks
• Personal care
• Animal Nutrition

Form (Revenue in Billion USD; Volume in Kilotons 2016-2027)

• Dry
• Liquid

Regional Outlook (Revenue in Million USD; Volume in Kilotons; 2016-2027)

• North America
o U.S.
o Canada
• Europe
o Germany
o France
o UK
o Spain
o Italy
o Rest of the Europe
• Asia Pacific
o China
o India
o Japan
o Rest of Asia-Pacific
• Middle East & Africa
• Latin America
o Brazil

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