Global Health Ingredients Market Thriving, Expected to Reach USD 146.3 Billion by 2027

A recently published research report titled "Health Ingredients Market by Type (Vitamins, Minerals, Probiotics starter culture, Prebiotics, Nutritional Lipids, Functional Carbohydrates, Plant and Fruit Extracts, Enzymes, Proteins), Application, Source, Function, and Region - Global Forecast to 2027," by MarketsandMarkets, reveals that the health ingredients market is estimated to be valued at USD 100.5 billion in 2022 and is projected to witness a robust growth rate, with a CAGR of 7.8%, reaching USD 146.3 billion by 2027.

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Market Overview:

The demand for health ingredients is on the rise, driven by shifting consumer lifestyles, changing demographics, and a growing focus on nutrition and well-being. Consumers are increasingly seeking holistic approaches to fitness and health, leading to a surge in demand for health ingredients such as omega-3, vitamins, omega-6, and probiotics.

Key Findings:

Protein Supplements Dominate:

The protein supplements segment is expected to hold the highest market share in terms of value throughout the forecast period. The COVID-19 pandemic has intensified the demand for protein supplements as consumers seek to boost their immune systems. Survey data from Glanbia PLC in the US highlighted a rise in the consumption of protein bars to support overall health and immunity during the pandemic.

Plant-Based Ingredients on the Rise:

Plant-based health ingredients are projected to have the highest market share in terms of source. Changing consumer preferences, including a shift from meat-based products to plant-based alternatives, are driving the market for plant-based health ingredients. These ingredients are rich sources of vitamins, proteins, and other nutrients, catering to vegans and individuals with animal-based product allergies.

Pharmaceutical Products Drive Growth:

The pharmaceutical products segment is expected to achieve the highest CAGR during the forecast period. Health ingredients are incorporated into pharmaceutical products to provide various benefits, including antioxidant action, blood sugar level control, osteoporosis prevention, heart health, stress reduction, beauty, and weight management.

Asia Pacific Leads the Way:

The Asia Pacific region is poised to account for the highest market share during the forecast period. The region's substantial millennial population, which is highly health-conscious and actively engaged in fitness pursuits, is a significant driver of the health ingredients market. With 1.1 billion millennials in Asia, representing 24% of the region's population, and an increasing number of young consumers in the Association of Southeast Asian Nations (ASEAN), there is a growing demand for dietary supplements and health ingredients in the region.

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Key Market Players:

Key players in the health ingredients market include Archer Daniels Midland Company (ADM) (US), Associated British Foods PLC (UK), International Flavors & Fragrances Inc. (US), Kerry Group PLC (Ireland), DSM (Netherlands), BASF SE (Germany), Cargill Incorporated (US), Ingredion (US), Arla Foods (Denmark), Tate & Lyle (UK), Lonza (Switzerland), Royal FrieslandCampina N.V. (Netherlands), Glanbia PLC (Ireland), CHR Hansen Holdings A/S (Denmark), and Probi (Sweden). These players have primarily focused on strategic partnerships, followed by expansions and new product launches, to expand their presence in different regions and industrial segments.

In summary, the global health ingredients market is experiencing significant growth driven by increasing consumer awareness of health and nutrition. The market is expected to witness continued expansion, reaching USD 146.3 billion by 2027, presenting opportunities for industry players to cater to the evolving demands of health-conscious consumers.

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Mr. Aashish Mehra
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