Nutraceutical Ingredients- Market Insights, Competitive Landscape, and Market Forecast - 2027

Nutraceutical Ingredients- Market Insights, Competitive Landscape, and Market Forecast - 2027

Nutraceutical Ingredients Market By Ingredients Type (Proteins, Phytochemicals & Plant Extracts, Vitamins & Minerals, Probiotics & Prebiotics, And Others), By Form (Dry And Liquid), By Application (Dietary Supplements, Functional Foods, Baby Products, Functional Beverages, And Others), and by geography is expected to advance at a respectable CAGR forecast till 2027 owing to the increasing prevalence of obesity, diabetes, cardiovascular disorders, and others and rise in spending by young and adult people on personal care

The global nutraceutical ingredients market will grow at a CAGR of 7.39% during the forecast period from 2022 to 2027 to reach USD 266.30 billion by 2027. The nutraceutical ingredients market is observing remarkable market growth owing to the factors such as the rising consciousness among people about their eating patterns, the increasing prevalence of obesity, diabetes, cardiovascular disorders, and others. Further, the rising awareness about health & wellness among consumers, increasing demand for fortified food along with the increasing launches of end-use products in the market leading to the increase in demand for ingredients, and the presence of key players, among other factors will create a requisite for the nutraceutical ingredients in the market. Therefore, the market for nutraceutical ingredients is estimated to grow at a substantial CAGR during the forecast period from 2022 to 2027.

Nutraceutical Ingredients Market Dynamics:

One of the key aspects driving the nutraceutical ingredients market is the rising prevalence of obesity, diabetes, cardiovascular disorders, and other ailments, globally.

For instance, according to the IDF Diabetes Atlas 10th edition, 2021, it was estimated that in 2021, nearly 537 million adults aged 20-79 years were living with diabetes. This number is predicted to rise to 643 million by 2030 and 783 million by 2045. Many nutraceutical products such as cinnamon, fenugreek, Momordica charantia (bitter melon), vitamin D, berberine (BBR), chromium, Gymnema sylvestre (Gur-Mar), ginger (gingerol and shogaol), and others are used by the diabetic patients to improve the immunity and to manage the complications related to diabetes. Thus, the increasing prevalence of diabetes across the globe will spur the demand for nutraceutical ingredients and their final products, thereby propelling the overall market of nutraceutical ingredients in the upcoming years.

Moreover, the rising sedentary lifestyle and eating practices, rising consciousness about the physical fitness benefits of nutraceuticals over digestive health, and increasing utilization of probiotics and other nutraceuticals in animal feed for the nutrition of animals will also propel the demand for nutraceutical ingredients.

Additionally, nutraceutical ingredients are useful in the pharmaceutical industry because of their medical benefits in treating or curing diseases and promoting better health. For instance, adults and children alike have experienced pill fatigue, which can be treated and avoided by using nutraceutical products. In addition, the demand for plant extract nutraceutical ingredients such as ginkgo Biloba, garlic & cranberry, and ginseng extracts such as chondroitin & glucosamine has increased, as the popularity of homeopathy and self-treatment is also rising.

Also, working-class people miss out on too many nutritional benefits due to their hectic lifestyles, which can be remedied by using nutraceutical products. They are portable and can be consumed on the go, making them an ideal match for the needs of the working class. Owing to its convenience factor, nutraceutical products companies use online retail stores as a mode of distribution. The ease of product availability through online retail platforms is expected to drive demand for nutraceutical products, certainly impacting the growth of the nutraceutical ingredients market.

Moreover, the increasing activities by the key players in the market will aid in increasing the demand for nutraceutical ingredients in the forthcoming years. For instance, in March 2020, Tata & Lyle, the leader of food and beverage ingredients in industrial markets, launched a new starch variety for expanding its functional ingredients range.

Therefore, the factors stated above collectively will drive the overall nutraceutical ingredients market during the forecast period from 2022 – 2027.

However, the high production cost of raw materials, lack of awareness among consumers regarding nutraceutical product benefits, and others may halt the growth of the nutraceutical ingredients market during the forecast period (2022 – 2027).

The nutraceutical ingredients market was positively impacted during the period of COVID- 19 pandemic owing to the immunity booster property of many nutraceutical ingredients and products such as elderberry extract, echinacea extract, vitamin C, zinc, and fruit powder blend. However, during the initial phase of the pandemic, the market witnessed a breakdown owing to the imposition of strict lockdown rules, restrictions in manufacturing, and disruption in raw materials, supply chain, manpower, and other resources, thereby reducing the demand for nutraceutical products in the market. However, with the increasing demand for nutraceutical ingredients and products to improve immunity to combat the spread of infection, the demand for nutraceuticals increased exponentially. Additionally, the preventive measures and care recommended by many government organizations during COVID-19 included many nutraceutical ingredients and products, thereby encouraging people to consume them to prevent the spread of infection. Thus, the above-mentioned factors were aiding in the growth of nutraceutical ingredients during the pandemic and are anticipated to do the same during the forecast period from 2022 - 2027.

Nutraceutical Ingredients Market Segment Analysis:

Nutraceutical Ingredients Market by Ingredients Type (Proteins, Phytochemicals & Plant Extracts, Vitamins & Minerals, Probiotics & Prebiotics, and Others), Form (Dry and Liquid), Application (Dietary Supplements, Functional Foods, Baby Products, Functional Beverages, and Others), and Geography (North America, Europe, Asia-Pacific, and Rest of the World).

In the ingredients type segment of the nutraceutical ingredients market, the probiotics and prebiotics segment is expected to have a significant revenue share in the year 2021. This was primarily owing to the beneficial effects offered by probiotics & prebiotics on overall human health.

For instance, prebiotics & probiotics both support the body in building and maintaining a healthy colony of bacteria and other microorganisms, which supports the gut and aids in proper digestion. These food components help promote beneficial bacteria by providing food and creating an environment where microorganisms can flourish.

Additionally, probiotics have several health benefits such as they help to reduce the severity of eczemas, prevent diarrhea, and improve heart health.

Further, prebiotics & probiotics improve digestive, mental, and gastrointestinal health. Along with this, they also reduce the need for antibiotics, the incidence of ventilator-assisted pneumonia, gestational diabetes, and vaginal infections such as yeast infections, and eczema, among other disorders. Also, prebiotics may benefit the body by improving calcium absorption, changing the body's process on carbohydrates, supporting the probiotic growth of gut bacteria, and enhancing digestion and metabolism.

Thus, owing to the aforementioned advantages, prebiotics & probiotics are widely used by consumers.

Further, various activities by key players will affect the market of prebiotics & probiotics positively. For instance, in April 2020, Chr. Hansen Holding A/S, a manufacturer and supplier of food cultures, probiotics, enzymes, and human milk oligosaccharides, and HSO Health Care GmbH agreed, under which Chr. Hansen acquired HSO Health Care. The acquisition of the Austria-based B2B Company specializing in probiotics for women’s health will strengthen and expand Chr. Hansen’s global microbial platform.

Therefore, owing to the above-mentioned key factors, the demand for probiotics & prebiotics rises, thereby the category is expected to witness considerable growth eventually contributing to the overall growth of the global nutraceutical ingredients market during the forecast period from 2022-2027.

Asia-Pacific is expected to hold the largest share of the Nutraceutical Ingredients Market:

Among all the regions, Asia-Pacific is expected to hold the largest market share in global nutraceutical ingredients in 2021 and is expected to do the same during the forecast period from 2022-2027.

This can be ascribed to the increasing prevalence of obesity, diabetes, cardiovascular disorders, and others, rising awareness about health & wellness among consumers, and the presence of key players in the region among the key factors that contribute to the growth of the nutraceutical ingredients market in Asia-Pacific. For instance, as per the latest data provided by the National Institute of Health (NIH), more than 1 in 6 non-Hispanic Asian adults have obesity. The increasing prevalence of obesity will increase the demand for many weight-managing nutraceutical ingredients such as Chitosan, Chromium Picolinate, Conjugated Linoleic Acid (CLA), and others.

Further, the changing lifestyle and dietary patterns, and growing demand for nutraceutical ingredients among the athletes in the region will also aid in driving the market of nutraceutical ingredients in Asia-Pacific.

Also, the rising costs of hospital admissions are forcing consumers to consume supplements and other nutrients such as vitamins and minerals, to maintain their health. Along with this, the rising spending by consumers on fortified food, dietary supplements, and overall personal care will upsurge the demand for nutraceutical ingredients in the market.

Moreover, the increasing product launches in the market will also help in driving the demand for nutraceutical ingredients in the region. For instance, in September 2019, PT IMEDCO, an Indonesian-based pharmaceutical company committed to developing science-backed products that support wellness, prevention, and treatment for diseases, announced the product launch of Glubio®, a pure Glutathione supplement targeted for those who may have conditions associated with low glutathione levels in the body.

Therefore, the interplay of the aforementioned factors above would provide a conducive growth environment for Asia-Pacific region in the nutraceutical ingredients market.

Nutraceutical Ingredients Market Key Players:

Some of the key market players operating in the nutraceutical ingredients market include Kerry Group plc., Associated British Foods plc, Arla Foods, DSM, Tate & Lyle, KYOWA HAKKO BIO CO., LTD., Ingredion Incorporated, ADM, DuPont, Cargill, BASF SE, Anagenix, Molkem, Danone, Roquette Frères., Martin Bauer, Sydler India Pvt. Ltd., Probi, Balchem Inc., Barrington Chemical Corporation, and others.

Recent Developmental Activities in the Nutraceutical Ingredients Market:

In January 2022, DSM Group, a global science-based company, launched its latest integrated Food & Beverage functional structure, which combines three sections of DSM’s business based on nutrition, i.e., Hydrocolloids, Food Specialties, and a few portions of nutritional commodities group on demand of emerging customer and current needs of the market.

In February 2022, ABFI ingredients, acquired Fytexia Group, a life science company developing scientifically supported active nutrients for dietary supplements.

Key Takeaways from the Nutraceutical Ingredients Market Report Study

Market size analysis for current nutraceutical ingredients market size (2021), and market forecast for 5 years (2022-2027)

The effect of the COVID-19 pandemic on this market is significant. To capture and analyze suitable indicators, our experts are closely watching the nutraceutical ingredients market.

Top key product/services/technology developments, mergers, acquisitions, partnerships, and joint ventures happened for the last 3 years

Key companies dominating the global nutraceutical ingredients market.

Various opportunities available for the other competitor in the nutraceutical ingredients market space.

What are the top-performing segments in 2021? How these segments will perform in 2027.

Which are the top-performing regions and countries in the current nutraceutical ingredients market scenario?

Which are the regions and countries where companies should have concentrated on opportunities for nutraceutical ingredients market growth in the coming future?

Target Audience who can be benefited from this Nutraceutical Ingredients Market Report Study

Nutraceutical ingredients providers

Research organizations and consulting companies

Nutraceutical ingredients -related organizations, associations, forums, and other alliances

Government and corporate offices

Start-up companies, venture capitalists, and private equity firms

Distributors and traders dealing in nutraceutical ingredients

Various end users who want to know more about the nutraceutical ingredients market and the latest developments in the nutraceutical ingredients market.

Frequently Asked Questions for the Nutraceutical Ingredients Market:

1. What are nutraceutical ingredients?

Nutraceutical ingredients are food commodities that prevent or significantly impact medical conditions or illnesses. They are added to various functional food & beverages to increase their nutritive value. It also enhances the appearance and taste of the final item.

2. What is the global market for nutraceutical ingredients?

The global nutraceutical ingredients market will grow at a CAGR of 7.39% during the forecast period from 2022 to 2027 to reach USD 266.30 billion by 2027.

3. What are the drivers for the global nutraceutical ingredients market?

The nutraceutical ingredients market is witnessing positive market growth owing to the factors such as the rising consciousness among people about their eating patterns, increasing prevalence of obesity, diabetes, cardiovascular disorders, and others, rising awareness about health & wellness among consumers, increasing demand for fortified food, increasing product launches, and approvals, presence of key players in the market, and others will create an exigency for the Nutraceutical Ingredients market.

4. Who are the key players operating in the global nutraceutical ingredients market?

Some of the key market players operating in the nutraceutical ingredients market include Kerry Group plc., Associated British Foods plc, Arla Foods, DSM, Tate & Lyle, KYOWA HAKKO BIO CO., LTD., Ingredion Incorporated, ADM, DuPont, Cargill, BASF SE, Anagenix, Molkem, Danone, Roquette Frères., Martin Bauer, Sydler India Pvt. Ltd., Probi, Balchem Inc., Barrington Chemical Corporation, and others.

5. Which region has the highest share of the nutraceutical ingredients market?

Among all the regions, Asia-Pacific is estimated to hold the major revenue share in the global nutraceutical ingredients market. This can be ascribed to the increasing prevalence of obesity, diabetes, cardiovascular disorders, and others, rising awareness about health & wellness among consumers, and the presence of domicile players in the region are the reasons which act as a supportive factor for Asia-Pacific nutraceutical ingredients market growth.

Please Note: It will take 3-5 business days to complete the report upon order confirmation.