PUBLISHER: The Business Research Company | PRODUCT CODE: 1409645
PUBLISHER: The Business Research Company | PRODUCT CODE: 1409645
“Nutraceutical Ingredients Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on nutraceutical ingredients market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for nutraceutical ingredients? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The nutraceutical ingredients market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Nutraceutical ingredients encompass components derived from animal, microbial, plant, and synthetic sources, offering health benefits by imparting primary nutritional value and functional advantages.
These ingredients fall into various product types, including vitamins, proteins, amino acids, probiotics, minerals, omega-3 fatty acids, fibers, specialty carbohydrates, prebiotics, phytochemicals, plant extracts, and others. Vitamins, categorized as either fat or water-soluble, constitute organic substances. These nutraceutical ingredients contribute to diverse health benefits, such as cognitive health, gut health, heart health, bone health, immunity, nutrition, weight management, and more. They are available in both dry and liquid forms and find applications in food, beverages, personal care, animal nutrition, and dietary supplements.
The nutraceutical ingredient market research report is one of a series of new reports from The Business Research Company that provides nutraceutical ingredient market statistics, including nutraceutical ingredient industry global market size, regional shares, competitors with nutraceutical ingredient market share, detailed nutraceutical ingredient market segments, market trends, and opportunities, and any further data you may need to thrive in the nutraceutical ingredient industry. This nutraceutical ingredient market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The nutraceutical ingredients market size has grown strongly in recent years. It will grow from $53.28 billion in 2023 to $57.52 billion in 2024 at a compound annual growth rate (CAGR) of 8.0%. The historical period's growth can be credited to the heightened awareness of health, a growing aging population, the emphasis on preventive healthcare, the prevalence of lifestyle diseases, consumer preferences, and government initiatives.
The nutraceutical ingredients market size is expected to see strong growth in the next few years. It will grow to $80.4 billion in 2028 at a compound annual growth rate (CAGR) of 8.7%. The anticipated growth in the forecast period can be ascribed to the rise of personalized nutrition, the expansion of e-commerce, increased demand for clean labels, the momentum of the plant-based movement, a focus on immune health, and the emergence of mental wellness products. Prominent trends in this period involve a heightened interest in probiotics and gut health, a preference for clean labels and transparency, the incorporation of cognitive health ingredients, a commitment to sustainable sourcing and ethical practices, and the integration of technological innovations in delivery formats.
The nutraceutical ingredients market is expected to experience growth driven by the increasing demand for probiotics and protein-rich foods. Probiotics and protein-rich foods, which involve live microorganisms and high-protein content, respectively, have demonstrated health benefits upon consumption. Nutraceutical ingredients, containing essential proteins vital for the human body, are poised to see heightened demand, particularly with the rising popularity of probiotics and protein-rich foods. According to a survey conducted by the International Food Information Council in March 2022, 32% of US adults actively incorporate probiotics into their diet, with 60% doing so at least once a day and 24% several times a day. This surge in demand is anticipated to drive the growth of the nutraceutical ingredients market.
The nutraceutical ingredients market is expected to be fueled by the increasing aging population. This demographic trend, characterized by a growing proportion of elderly individuals, is defined by those aged 65 and older. Nutraceutical ingredients play a vital role in addressing the health and nutritional needs of the aging population by offering targeted supplements that support overall well-being and address specific age-related health concerns. As of October 2022, the World Health Organization projected that by 2030, one in six individuals globally would be 60 years or older, with the global population of individuals aged 60 and older expected to double to 2.1 billion by 2050. This demographic shift is a significant driver for the growth of the nutraceutical ingredients market.
New product development and advancements emerge as key trends gaining traction in the nutraceutical ingredients market. Leading market players are investing in advanced products to maintain their competitive edge. For instance, in January 2021, Tate & Lyle, a UK-based ingredient solutions company, introduced REZISTA MAX thickening starches and BRIOGEL gelling starches. These tapioca starches offer improved process tolerance, mouthfeel, fluidity, and texture, making them valuable in various applications, including dairy, soups, sauces, dressings, confectionery, and more.
Major companies in the nutraceutical ingredients market are prioritizing the development of new substance ranges, such as excipients, to address the needs of moisture-sensitive nutraceutical and pharmaceutical ingredients. Excipients are inert substances added to aid in the manufacturing of pharmaceuticals and nutraceuticals. In November 2023, Roquette, a France-based food company, launched three new excipients-Lycatab CT-LM, Microcel 103 SD, and Microcel 113 SD-designed for moisture-sensitive ingredients. These excipients offer unique benefits, such as low water activity and consistent granulometric distribution, contributing to the stability and reliability of products, particularly in hard tablet production.
In February 2022, Suanfarma, a Spain-based company specializing in ingredient development, production, and commercialization, acquired Monteloeder to expand its active-nutritional portfolio. This strategic move aims to position Suanfarma as a European leader in pharmaceutical and nutraceutical ingredients. Monteloeder, based in Spain, is known for providing innovative health ingredients supported by clinical evidence.
Major companies operating in the nutraceutical ingredients market report are Cargill Incorporated, Abbott Laboratories, Ajinomoto Co. Inc., Aker Biomarine ASA, Alticor Inc., Archer-Daniels-Midland Company, Arla Foods Amba, Associated British Foods plc, BASF SE, Chr. Hansen Holding A/S, Danone SA, Dow Jones Company, DuPont de Nemours Inc., Fonterra Co-operative Group Limited, General Mills Inc., Glanbia plc, GlaxoSmithKline plc, Ingredion Incorporated, Johnson & Johnson Services Inc., Kellogg Company, Koninklijke DSM NV, Kraft Heinz Company, Nestle SA, Novozymes A/S, Nutraceutix Inc., PepsiCo Inc., Procter & Gamble Company, Roquette Freres SA, Tate & Lyle plc, Kerry Group plc, Royal DSM N.V., FMC Corporation, Lonza Group AG, Nutraceutical International Corporation, Sabinsa Corporation .
North America was the largest region in the nutraceutical ingredients market in 2023. Asia-Pacific is expected to be the fastest-growing region in the nutraceutical ingredients market report during the forecast period. The regions covered in the nutraceutical ingredients market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the nutraceutical ingredients market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The nutraceutical ingredients market consists of sales of lactobacilli, bifidobacterium, bacillus, and streptococcus. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.