NEW YORK, June 11, 2024 /PRNewswire/ — The global nutraceutical ingredients market size is estimated to grow by USD 9.1 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of about 3.6% during the forecast period. Health benefits of nutraceutical ingredients is driving market growth, with a trend towards focus on personalized nutrition. However, stringent regulations pertaining to food safety poses a challenge. Key market players include Advanced Orthomolecular Research Inc., Ajinomoto Co. Inc., Amway Corp., Archer Daniels Midland Co., Arla Foods amba, Associated British Foods Plc, BASF SE, Cargill Inc., Danone SA, DuPont de Nemours Inc., EID Parry India Ltd., General Mills Inc., Herbalife International of America Inc., Koninklijke DSM NV, Natrol LLC, Nestle SA, Reckitt Benckiser Group Plc, Tate and Lyle PLC, The Lubrizol Corp., and Valensa International.
Technavio has announced its latest market research report titled Global nutraceutical ingredients market 2024-2028
Get a detailed analysis on regions, market segments, customer landscape, and companies – View the snapshot of this report
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Forecast period |
2024-2028 |
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Base Year |
2023 |
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Historic Data |
2018 – 2022 |
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Segment Covered |
Application (Functional food and beverage, Dietary supplements, and Others), Form Factor (Dry and Liquid), and Geography (APAC, Europe, North America, South America, and Middle East and Africa) |
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Region Covered |
APAC, Europe, North America, South America, and Middle East and Africa |
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Key companies profiled |
Advanced Orthomolecular Research Inc., Ajinomoto Co. Inc., Amway Corp., Archer Daniels Midland Co., Arla Foods amba, Associated British Foods Plc, BASF SE, Cargill Inc., Danone SA, DuPont de Nemours Inc., EID Parry India Ltd., General Mills Inc., Herbalife International of America Inc., Koninklijke DSM NV, Natrol LLC, Nestle SA, Reckitt Benckiser Group Plc, Tate and Lyle PLC, The Lubrizol Corp., and Valensa International |
Key Market Trends Fueling Growth
The increasing consumer preference for personalized nutrition is fueling the nutraceutical ingredients market’s expansion. This trend is driven by advancements in technology and a deeper understanding of nutrition’s role in health. To cater to individual needs, companies are investing in research and development, creating customized products, and introducing new delivery systems. Genes, lifestyle, and health goals are analyzed to develop personalized diets and supplements. These factors are expected to significantly grow the nutraceutical ingredients market during the forecast period.
The Nutraceutical Ingredients Market is experiencing significant growth due to the increasing demand for functional foods and dietary supplements. Funtionalals like Foids, Probiotics, and Dietary Fibers are trending in the industry. Consumers are becoming more health-conscious and are looking for products that offer health benefits beyond basic nutrition. Consumers are also seeking natural and organic ingredients, driving the demand for plant-based nutraceuticals.
The market is diverse, with consumers in different regions having unique preferences. For instance, Asian consumers prefer herbal ingredients, while Europeans prefer functional foods. The market is also witnessing innovation, with companies developing new products and delivery forms to cater to evolving consumer needs. The market is expected to continue growing, driven by consumer trends and advancements in technology.
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Market Challenges
The nutraceutical ingredients market faces stringent regulations to ensure ingredient safety and compliance with product classification and labeling. In the US, the FDA mandates notifications for new ingredients, safety data reviews, and adherence to Current Good Manufacturing Practices (CGMP). Non-compliance can result in product recalls and fines, negatively impacting market growth.
The nutraceutical industry faces several challenges in the production and use of various ingredients. These include the cost and availability of high-quality raw materials, such as probiotics, functional proteins, and botanicals. Regarding functional proteins, the challenge lies in sourcing sustainable and ethically produced ingredients, while maintaining consistent quality. For botanicals, the challenge is ensuring standardization and consistency in the extraction and processing methods.
Additionally, regulatory compliance adds complexity to the supply chain, requiring rigorous testing and documentation. Digestive enzymes and prebiotics also pose challenges due to their sensitivity to temperature and moisture during storage and transportation. Overall, the nutraceutical industry must address these challenges to deliver effective and safe products to consumers.
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Segment Overview
Application
1.1 Functional food and beverage
1.2 Dietary supplements
1.3 Others
Form Factor
2.1 Dry
2.2 Liquid
Geography
3.1 APAC
3.2 Europe
3.3 North America
3.4 South America
3.5 Middle East and Africa
1.1 Functional food and beverage- Nutraceutical ingredients, derived from regular diet sources, offer enhanced health benefits and disease risk reduction in functional food and beverages. These include minerals, vitamins, fatty acids, dietary fiber, phytochemicals, antioxidants, probiotics, and flavonoids. Phytochemicals detoxify carcinogens and boost immunity, while prebiotics enhance immunity and improve overall health.
Probiotics, live microorganisms, are found in yogurt, buttermilk, and fermented foods like kimchi and sauerkraut. The rising health concerns and changing consumer lifestyles fuel the market growth for nutraceutical ingredients in various food and beverage applications.
For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2018 – 2022) – Download a Sample Report
Research Analysis
The Nutraceutical Ingredients Market encompasses the production and distribution of essential components derived from foods and plants, used to enhance the functional, preventive, and therapeutic benefits of various consumer products. These ingredients include micronutrients, probiotics, and other functional components. The market caters to various industries, such as food, beverages, dietary supplements, animal nutrition, and personal care products.
Consumer health consciousness and lifestyle-related diseases have fueled the demand for nutraceutical ingredients. Innovation in fortified food products, dry nutraceutical ingredients, and 3D printing technologies further expands market opportunities. Trust Transparency Center plays a crucial role in ensuring trust and transparency in the industry. Nutraceutical ingredients offer primary nutritional value, addressing micronutrient shortages and promoting digestive health, physical fitness benefits, and overall well-being.
Market Research Overview
The Nutraceutical Ingredients Market encompasses a broad range of substances that provide health and nutritional benefits beyond those of conventional foods. These ingredients include vitamins, minerals, amino acids, proteins, and other phytochemicals. The market is driven by various factors such as increasing health consciousness, rising demand for functional foods, and the growing trend towards preventive healthcare.
Consumers are increasingly seeking natural and organic options, leading to a surge in demand for nutraceutical ingredients derived from plants and other natural sources. The market is also witnessing significant innovation, with new ingredients and delivery forms continually being developed to meet evolving consumer needs. The global nutraceutical ingredients market is expected to grow at a robust pace in the coming years.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
Application
Functional Food And Beverage
Dietary Supplements
Others
Form Factor
Dry
Liquid
Geography
APAC
Europe
North America
South America
Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio
