Nutraceutical Ingredients Market Size By by Product (Probiotics, Prebiotics, Vitamins, Amino Acids, Carotenoids, Phytochemicals & Plant Extracts, Protein, EPA/DHA, Minerals, and Fiber & Carbohydrates), By Form (Dry Form, Liquid Form), By Application & For

Nutraceutical Ingredients Market Size By by Product (Probiotics, Prebiotics, Vitamins, Amino Acids, Carotenoids, Phytochemicals & Plant Extracts, Protein, EPA/DHA, Minerals, and Fiber & Carbohydrates), By Form (Dry Form, Liquid Form), By Application & Forecast, 2023 - 2032

Nutraceutical Ingredients Market is anticipated to grow substantially though 2032, owing to the growing demand to improve nutritional content in food & beverages. Moreover, the increased demand for fiber-rich goods and high nutritional supplement products would add to the market prospects over the coming years. The need for proper nutrition will be driven by the rising prevalence of lifestyle diseases, gastrointestinal diseases, as well as personal care spending.

Additionally, inclining consumer interest towards dietary products and the advantages they offer, such as intestinal health and blood sugar and cholesterol control, may open profitable business opportunities for the market players.

The nutraceutical ingredients market has been segmented in terms of product, form, application, and region.

Based on product, the probiotics segment is slated to grow at 9.0% CAGR from 2023 to 2032, attributed to the emergence of livestock diseases. As per credible sources, an estimated 1 in 5 farm animals are lost to diseases every year. Probiotics are being largely incorporated in livestock nutrition products.

Leading brands are working on creating probiotic products to increase immune response and maintain the quality of products derived from animals. For instance, in July 2022, Kemin Industries introduced ENTEROSURE to lower the transmission of dangerous bacteria in poultry and animals. The latest probiotic product from the company enhances animal productivity while fostering intestinal resilience, a healthy microbiome, and gut health.

In terms of form, the liquid form segment is estimated to grow considerably since it can be manufactured without much hassle and are cost-effective. Compared to dry products, liquid products are quite easy to ingest.

With respect to application, the functional beverage segment is expected to expand exponentially over 2023-2032, driven by an increase in demand for energy-boosting functional beverages amongst the wider populace and athletes for enhanced physical performance. Probiotics-based foods and drinks are regarded as the prospective functional beverages that are rather popular and have a higher customer acceptance among novel functional foods on the market. Probiotics have considerable effects on the body when ingested in appropriate amounts, and they also assist the host's health by giving essential nutrients.

From the regional perspective, the Latin America nutraceutical ingredients market is projected to acquire more than USD 5.5 billion market share by 2032. The expanding middle-class population is likely to boost the regional market growth during the foreseeable period. Furthermore, the measures taken by various governments and public groups to address health concerns and the region’s significant livestock population is anticipated to fuel the market growth for animal nutrition.