Health Ingredients Market Size, Share, Growth Report 2024 - Global Forecast 2023
The Business Research Company presents an extensive market research report on the Health Ingredients Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
The health ingredients market size has grown strongly in recent years. It will grow from $105.6 billion in 2023 to $114.35 billion in 2024 at a compound annual growth rate (CAGR) of 8.3%. The growth in the historic period can be attributed to cultural and ethnic health traditions, advancements in nutritional science, increased consumer health awareness, rising demand for functional foods, changing dietary patterns..
The health ingredients market size is expected to see strong growth in the next few years. It will grow to $157.25 billion in 2028 at a compound annual growth rate (CAGR) of 8.3%. The growth in the forecast period can be attributed to growing health consciousness, aging population demands, evolving consumer lifestyles, expansion of functional foods market, global health crisis response.. Major trends in the forecast period include rise in beauty-boosting ingredients, enhanced sports nutrition ingredients, incorporation of antioxidant-rich ingredients, utilization of ancient and traditional ingredients, exploration of sustainable sources..
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Key Market Players:
Major companies operating in the health ingredients market report are Cargill Incorporated, Archer Daniels Midland Co., BASF SE, Evonik Industries AG, Associated British Foods plc, Fonterra Co-operative Group Limited, DuPont de Nemours Inc., International Flavors & Fragrances Inc., Kerry Group plc, Koninklijke DSM NV, Ingredion Inc., Ingredion Incorporated, Lonza Group AG, Roquette Freres SA, Glanbia plc, Tate & Lyle PLC, Corbion N.V, FrieslandCampina Ingredients, Arla Foods Ingredients Group, AB Biotek, Aenova Holding GmbH, OmniActive Health Technologies, Athletic Greens, The Parabel Inc., Healthy Food Ingredients LLC, Nutracap Labs LLC, Biotron Laboratories Inc., BioThrive Sciences LLC
The growing number of heart diseases and obesity-related problems is expected to propel the growth of the health ingredient market going forward. Heart diseases refer to heart and blood vessel problems, whereas obesity-related diseases refer to the consequences of having a body mass index of 30 or more. Incorporating health ingredients such as omega-3 fatty acids into meals helps to prevent or cure heart diseases by altering the production of substances in the body that lead to such conditions. For instance, in March 2022, according to World Obesity Atlas 2022 report, the estimated global number of people with obesity (Class I, II, and III) =30kg/m2 is expected to increase to 892 million by 2025 Furthermore, in December 2022, according to data published by New York government, in the United States, heart disease claims the lives of about 697,000 people annually, or 1 in every 5 fatalities where around 805,000 Americans experience a heart attack each year among which 605,000 of these result in a first-time heart attack, while previous heart attacks cause 200,000. Therefore, the growing number of heart diseases and obesity-related problems is driving the growth of the health ingredient market.
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The health ingredients market covered in this report is segmented -
1) By Type: Vitamins, Minerals, Probiotic Starter Cultures, Prebiotics, Plant And Fruit Extracts, Enzymes, Nutritional Lipids, Functional Carbohydrates, Proteins
2) By Source: Plant-Based, Animal-Based, Microbial-Based., Other Sources
3) By Function: Weight Management, Immunity Enhancement, Gut Health Management, Joint Health Management, Heart Or Cardiovascular Health Management, Eye Health Management, Brain Health Management, Other Functions
4) By Distribution Channel: Supermarket, Retail Store, Online Sales
5) By Application: Food And Beverages, Pharmaceuticals, Animal Feed, Personal Care
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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