Nutraceutical Ingredients Market
Nutraceutical ingredients are the ingredients that provide nutritive value to the food by providing vitamins, minerals, proteins and other valuable nutrients. Nutraceutical ingredients are gaining popularity owing to health benefits associated with consumption of these such as aiding in controlling blood pressure, obesity, cholesterol, and heart diseases. Therefore, nutraceutical ingredients are increasingly being used in dietary supplements, functional foods etc. Nutraceutical ingredients have become the part of daily diet for the consumers.
Market Dynamics
High consumption of vitamins by the geriatric population, coupled with growing health consciousness among the population, has accelerated the consumption of vitamin supplements on a daily basis for better health & fitness. Multiple health benefits of vitamins are encouraging consumers to include vitamins in their diets, which would promote product uptake. The demand for natural nutraceutical ingredients such as cranberry, garlic, ginkgo biloba, and ginseng extracts; glucosamine; and chondroitin has increased with the rising popularity of homeopathic remedies, preventive medicines, and self-treatment. For instance, in 2019, Medtate, a healthcare company, launched a new product named FemVita, especially for women, in the next five years, which will be formulated with nutraceutical ingredients such as probiotics and vitamins that will aid in improving hair, nails, teeth, skin, and immune system.
The nutraceutical ingredients market has witnessed significant growth owing to rise in concern about side effects and synthetic additives in conventional consumer food, which has led to increasing demand for natural additives. Nutraceutical ingredients help in prevention of numerous diseases. Increasing prevalence of heart diseases is anticipated to fuel growth of the global nutraceutical ingredients market. According to European Society of Cardiology in 2021, cardiovascular diseases cause around 4 million deaths every year, in Europe.
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