Neutraceutical Ingredients Market: Key Growth Factors and Industry Analysis 2017-2025
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Key factors driving the global nutraceutical ingredients market are the rising reliability of and awareness about nutraceutical products and rapidly expanding customer base across the globe. In addition; increasing geriatric population along with the rising prevalence of chronic illnesses has spurred alarms relating to health of the global population. These factors are anticipated to fuel the market for nutraceuticals and nutraceutical ingredients significantly from 2017 to 2025. The shift in consumer preference for healthier food products while shopping, in order to meet their nutritional needs, is fueling the global neutraceuticals market. Food products containing nutraceutical ingredients help in the prevention of nutrient deficiency as well as various disorders. Owing to increase in the number of clinical evidences supporting health benefits of neutraceuticals and rapid rise in the consumption of nutraceutical products worldwide, the nutraceutical ingredients market is expanding rapidly across developing economies.
At present, developed countries are not the only geographies to witness high demand for nutraceutical ingredients. The concept of nutraceutical ingredients and related food products is rapidly emerging in developing countries also. Countries such as China and India are primary consumers of nutraceutical ingredients for production of different food supplemental and pharmaceutical products. These countries are witnessing increasing per capita income, growing adoption of sedentary lifestyle, and rising demand for nutritional food. These developing countries are estimated to offer a significant opportunity for growth of the nutraceutical ingredients market in the near future. Nutraceutical ingredients are used in applications such as functional food and beverages, dietary supplements, personal care products, and animal nutrition products. Based on element, the nutraceutical ingredients market can be segmented into prebiotics, fibers & specialty carbohydrates, probiotics, peptides & proteins, phytochemicals & plant extracts, minerals, vitamins, carotenoids & antioxidants, amino acids, omega 3, and structured lipids.
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Geographically, the global nutraceutical ingredients market can be segmented into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. Growing population and rapid urbanization in emerging economies of Asia Pacific are expected to drive the nutraceutical ingredients market in the region during the forecast period. Developing countries in the region are likely to witness rising demand for nutraceuticals in the next few years.
Key players operating in the global nutraceutical ingredients market are Cargill Inc., E.I. du Pont de Nemours and Company, Tate and Lyle North America Inc., BASF SE, Archer Daniels Midland Company, Ajinomoto Co., Inc., Koninklijke DSM N.V., Associated British Foods plc., Ingredion Incorporated, Danisco A/S, and NutraMarks, Inc.
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