Nutraceutical Ingredients Market - Global Industry Analysis, Market Size, Share, Growth And Forecast 2007 - 2017

Nutraceuticals are essentially products that provide therapeutic, medicinal, or pharmacological benefits besides providing nutrition. A nutraceutical ingredient is the key functional constituent of nutraceuticals. Such ingredients could be of diverse forms, ranging from chemical compounds to naturally occurring substances to bioactive substances; but their purpose remains common—to promote health and well-being and to prevent diseases.

A growing geriatric population together with rising incidences of chronic diseases has spurred numerous concerns pertaining to health among the populace. These concerns have fuelled the market for nutraceuticals and nutraceutical ingredients to a great degree. For instance, more and more consumers are now picking healthier food products off shelves. The focus is shifting from mere hunger satisfaction to meeting nutritional needs. Food products that prevent nutrient deficiency or fight factors leading to various diseases are now perceived as being healthier and hence are becoming a preferred choice of many customers.

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What works in the favor of nutraceuticals is their relative nascence from the global standpoint. While nutraceuticals are considered as being widely popular in developed countries, the same cannot be said of other developing or emerging regions globally. The very concept of nutraceuticals is a modern one leaving a significant scope for its development and further exploration.

Manufacturers stand to capitalize from the fact that herbal ingredients used in nutraceutical products are perceived as being highly effective by consumers in many developing nations. This lends considerable hope for the future growth prospects of the nutraceuticals industry in general and the nutraceutical ingredients industry in particular. Nutraceutical ingredients lie at the heart of the nutraceutical industry, as the quality of ingredients determines the market for a particular product. Thus, it is evident that the nutraceutical ingredients industry possesses its own market space and opportunities for growth. Typically, it has been observed in the case of such interdependent industries that the impact of the ingredients or raw material industry is more significant on the product industry.

Nutraceutical ingredients are most extensively used in applications such as dietary supplements, personal care products, functional food and beverages, as well as the animal nutrition industry. These applications are the dominant ones for the nutraceutical ingredients industry.

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