Nutraceutical Ingredients Market is experiencing Phenomenal Growth, with an exceptional CAGR of 7.3% by 2031
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The major Key Players covered in the report Nutraceutical Ingredients Market are:
The major players analyzed for the nutraceutical ingredients industry Amway Corporation, AOR Inc., Archer Daniels Midland, Cargill Incorporated, Danone, EID Parry, General Mills, Herbalife International of America Inc., Innophos, Matsun Nutrition, Mead Johnson, Nestle SA, Natrol, Royal DSM, and Valensa International. Key players operating in the nutraceutical ingredients market have adopted product launch, business expansion, and mergers & acquisitions as key strategies to expand their nutraceutical ingredients market share, increase profitability, and remain competitive in the market. In order to get an advantage over rival manufacturers in the market, they are primarily focused on improving the quality of their products. Manufacturers have an advantage in expanding their product line internationally due to an advanced distribution network and manufacturing knowledge and expertise.
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The global market for nutraceutical ingredients is expanding favorably due to a wide range of driving factors. An important reason in the market's expansion has been the rising incidence of chronic illnesses and diseases. This has raised awareness about leading a healthy lifestyle and eating well. Non-communicable diseases have significantly increased in prevalence in recent years. The majority of cases are brought on by evolving lifestyles that are predominately unhealthy. Naturally, this has contributed to the rise in demand for nutraceutical substances that aid in the prevention of such disorders. As a result, the market has recently experienced a significant expansion.
The liquid segment is the fastest growing segment in the global nutraceutical ingredients market. Due to its use in yogurt, the most widely consumed source of probiotics, which is a liquid form of a nutrient, the demand for liquid nutraceutical ingredients has increased as compared to dry nutraceutical ingredients. Kefir water, probiotic juices, and drinks made with yogurt are a few other products that contain liquid ingredients and are all beneficial daily supplements. It is anticipated that in the upcoming years, the Asia-Pacific region would be a significant market for nutraceutical ingredients. Considering how extensively functional food and drink are consumed in China, there is a significant opportunity for both domestic and foreign businesses to enter the nutraceutical ingredients market.
KEY FINDINGS OF STUDY
By type, the probiotics segment was the highest revenue contributor to the market, with $52,725.1 million in 2021, and is estimated to reach $102,175.2 million by 2031, with a CAGR of 7.0%.
By form, the dry segment was the highest revenue contributor to the market, with $92,372.4 million in 2021, and is estimated to reach $179,258.1 million by 2031, with a CAGR of 7.0%.
Depending on application, the functional food and beverage segment was the highest revenue contributor to the market, with $63,634.6 million in 2021, and is estimated to reach $127,635.3 million by 2031, with a CAGR of 7.4%.
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