Nutraceutical Ingredients Market is expected to grow at a CAGR of 8.2% during the forecasted period | Evolve Business Intelligence

Key Highlights:
• The global Nutraceutical Ingredients Market size was valued at USD 180.1 billion in 2023 growing at a CAGR of 8.2% from 2023 to 2033.
• North America dominated the market in 2023
• Asia Pacific is expected to grow at the highest CAGR from 2023 to 2033

As per the study initiated by Evolve Business Intelligence, the global Nutraceutical Ingredients Market size accounted for USD 180.1 Billion in 2023, growing at a CAGR of 8.2% from 2023 to 2033. Nutraceutical ingredients are bioactive compounds or substances derived from food sources that provide health benefits beyond basic nutrition. These ingredients are often used in the formulation of functional foods, dietary supplements, and medicinal products. The term "nutraceutical" is a combination of "nutrition" and "pharmaceutical," highlighting the dual role these ingredients play in promoting health and preventing or treating diseases.

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Growing awareness of the importance of preventive healthcare and a focus on overall well-being has led consumers to seek out products with added health benefits. Nutraceutical ingredients, being perceived as natural and safe, align with this trend. With the increasing prevalence of lifestyle-related diseases such as obesity, diabetes, and cardiovascular disorders, there is a heightened interest in functional foods and supplements that can address specific health issues. The global population is aging, leading to an increased demand for products that support healthy aging, joint health, cognitive function, and other age-related concerns. Nutraceutical ingredients play a role in developing products targeting these specific needs. Ongoing research and development in the fields of nutrition and biotechnology contribute to the discovery of new and improved nutraceutical ingredients. Scientific evidence supporting the health benefits of certain compounds further drives market growth.

Key Players
Some of the major Nutraceutical Ingredients Market players holding high market shares include Innophos Holdings Inc., Danone, EID Parry India Ltd, natrol, inc., Valensa International, Nestle S.A., Archer Daniels Midland Company, General Mills, Inc. These players use partnership and collaboration as a key strategy to gain significant market share to compete with market leaders. Some of the other major market players include Royal DSM, AMWAY CORPORATION, Matsun Nutrition, Herbalife Ltd., aor International, Mead Johnson, Cargill, Incorporated

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Segmental Analysis
Based on type, the Nutraceutical Ingredients market is segmented into Probiotics, Vitamins, Minerals, Proteins, fibers, and Others. The probiotics segment is the largest segment of the nutraceutical ingredients market. Probiotics are live microorganisms that are beneficial to human health. They are commonly consumed in fermented foods and beverages, such as yogurt, kefir, and kimchi. Probiotics have been shown to have several health benefits, including improving gut health, boosting the immune system, and reducing the risk of certain chronic diseases.
Based on form, the Nutraceutical Ingredients market is Dry and liquid. The dry-form segment is the largest segment of the nutraceutical ingredients market. Dry forms are more convenient to transport and store than liquid forms, and they also have a longer shelf life.
Based on application, the Nutraceutical Ingredients market is a supplement, Functional food and beverage, Animal nutrition, and Others. The supplements segment is the largest segment of the nutraceutical ingredients market. supplements are taken to improve overall health and well-being. They are available in a variety of forms, including capsules, tablets, powders, and liquids.

Key Region/ Countries Covered
• North America (US, Canada, Mexico)
• Europe (Germany, U.K., France, Italy, Spain, Russia, Nordic Countries, BeNeLux, Rest of Europe)
• Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Rest of Asia Pacific)
• Middle East and Africa (Saudi Arabia, UAE, Egypt, South Africa, Rest of MEA)
• Latin America (Mexico, Brazil, Argentina, Rest of Latin America)

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