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  • Published On : Dec 2022
  • Code : CMI1080
  • Industry : Food Ingredients
  • Pages : 312
  • Formats :

Nutraceutical is a term used for food or fortified food that is obtained from food sources that not only supplement the diet but also give additional health benefits, coupled with the basic nutritional value present in foods. Additional terms used for nutraceuticals are medical foods, functional foods, and designer foods, etc. Nutraceutical ingredients include vitamins, minerals, prebiotics and probiotics, phytochemicals and plant extracts, fiber and specialty carbohydrates, proteins, etc. Besides common ingredients such as vitamins, companies have started including some new ingredients in nutraceutical products such as plant sterols, polyphenols, probiotics, and fatty acids.

Global nutraceutical ingredients market was valued at US$ 3467.3 Million in 2021 in terms of revenue, exhibiting a CAGR of 7.35% during the forecast period (2022 to 2030).

Drivers

Increasing awareness about healthy diet, which includes vitamins, proteins, minerals, fibers, and others is major factor driving growth of the global nutraceutical ingredients market. Moreover, increasing use of nutraceutical ingredients in pharmaceutical drugs, owing to its properties such as anti-aging, prevention in chronic diseases, cancer, and health improvement is expected to drive growth of the market. Antioxidant property of nutraceutical ingredients such as phytochemicals aid in prevention of cancer.

The global nutraceutical ingredients market is driven by the growth in life expectancy & health consciousness among consumers and the increase in applications of nutraceutical ingredients. Consumers’ concerns regarding nutrient inadequacy tend to be general in nature, somewhat than concern about a particular health condition or nutrient/component in their diet. Another important factor improving the rate of demand for nutraceutical ingredients is the enhanced requirements for food fortification mandated by government organizations.

The nutraceuticals industry was positively impacted by the Covid-19 pandemic, owing to increase in demand for healthy nutritional products and supplements. Preventive measures taken against the disease in the form of consumption of vitamin D, vitamin C, zinc, sodium, minerals, and functional food & beverages led to a rapid increase in sales of such types of nutraceuticals products. This increase in sales is likely to continue in the post COVID period due to the persistent consumer inclination toward health and wellbeing during the pandemic.

Figure 1. Global Nutraceutical Ingredients Market Value Share (%), By Region, 2021

Nutraceutical Ingredients  | Coherent Market Insights

Market Restraints

 High prices of raw material production costs for nutraceuticals products consider as the major factor that restricts the consumers to avail of its features. Consumers are likely to shift to low-cost substitute proteins. Further, unsatisfactory quality nutraceutical manufacturing has raised the concern to fill the demand and supply gap.

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Nutraceutical Ingredients Market Report Coverage

Report Coverage Details
Base Year: 2021 Market Size in 2021: US$ 3467.3 Mn 
Historical Data for: 2017-2020 Estimated Year: 2022
Forecast Period 2022 to 2030 CAGR: 7.35 % Forecast Period: 2022-2030
Geographies covered:
  • By Region: North America, Latin America, Europe, Asia Pacific, Middle East & Africa
Segments covered:
  • By Product Ingredients: Vitamins, Prebiotics and Probiotics, Proteins and Amino Acids, Omega Fatty 3 acids, Minerals, Carotenoids, Fibers & Specialty Carbohydrates, Phytochemicals & Plant Extracts, Other Ingredients
  • By Application: Functional Food, Functional Beverages, Dietary supplements, Animal Feed, Others
  • By Form: Dry, Liquid
Companies covered:

BASF SE, E.I. du Pont de Nemours and Company, Cargill Inc., Archer Daniels Midland Company, DSM Nutritional Products, Ingredion Incorporated, Tate & Lyle Plc, Ajinomoto Co. Inc., and FMC Corporation. 

Growth Drivers:
  • Increasing awareness about importance of maintaining a proper personal care routine
Restraints & Challenges:
  • Low quality and quantity of raw materials 

Market Trends

The significant growth of fiber-rich products along with high nutritional supplement products is boosting the market growth. The increasing occurrences of gastrointestinal diseases, lifestyle diseases, and rising personal care spending will prompt the need for dietetic nutrition. Moreover, consumers’ positive perception toward dietary products coupled with the benefits provided by these products, such as bowel health and control of blood sugar & cholesterol levels, will create lucrative opportunities for the market.

Rising availability of vitamin-based supplements in departmental and other retail stores is the key factor fuelling the nutraceutical ingredients market. These products have a large acceptance among consumers owing to their visible benefits including protection from illness, youthful vigor, and good health. People across various age groups consume dietary supplements to meet their recommended dietary allowances. These supplements are available in different forms such as pills, tablets, powders, capsules, gel caps, and liquids.

 Figure 2. Global Nutraceutical Ingredients Market Value Share (%), By Application, 2021

Nutraceutical Ingredients  | Coherent Market Insights

Recent Developments

  • In March 2022, Tate & Lyle,  British-headquartered, global supplier of food and beverage ingredients company acquired Quantum Hi-Tech Biological, which is a prebiotic dietary fiber business in China, for a value of US$ 237 million. The strategic acquisition will allow to strengthen the company’s dietary fiber market in China and Asia.
  • In February 2022, ABF Ingredients, a global leader in specialty ingredients acquired Fytexia Group, a developer of active ingredients for various dietary supplements. The strategic acquisition will allow to expand ABFI’s product portfolio in the nutritional, pharmaceutical, and food sectors.
  • In November 2020, Ingredion, an American multinational ingredient provider acquired Verdient Foods Inc., a producer of pulse-based protein concentrates and flours from peas, lentils. With this acquisition, Ingredion will be able to its manufacturing capacity and fulfil the customer demand for plant-based protein.

Competitive Section

Major players operating in the global nutraceutical ingredients market include BASF SE, E.I. du Pont de Nemours and Company, Cargill Inc., Archer Daniels Midland Company, DSM Nutritional Products, Ingredion Incorporated, Tate & Lyle Plc, Ajinomoto Co. Inc., and FMC Corporation. 

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.

Key features of the study:

  • This report provides in-depth analysis of global nutraceutical ingredients market, and provides market size (US$ Million) and compound annual growth rate (CAGR %) for the forecast period (2022-2030), considering 2021 as the base year.
  • It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market.
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, regional outlook, and competitive strategies adopted by key players
  • It profiles key players in the global nutraceutical ingredients market market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
  • Key companies covered as a part of this study include BASF SE, E.I. du Pont de Nemours and Company, Cargill Inc., Archer Daniels Midland Company, DSM Nutritional Products, Ingredion Incorporated, Tate & Lyle Plc, Ajinomoto Co. Inc., and FMC Corporation. 
  • Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future products launches, technology up gradation, market expansion, and marketing tactics
  • The global nutraceutical ingredients market report caters to various stakeholders in this industry including investors, suppliers, nutraceutical ingredients manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global nutraceutical ingredients market

Detailed Segmentation:

  • Global Nutraceutical Ingredients Market, By Product Ingredients:
    • Vitamins
    • Prebiotics and Probiotics
    • Proteins and Amino Acids
    • Omega Fatty 3 acids
    • Minerals
    • Carotenoids 
    • Fibers & Specialty Carbohydrates
    • Phytochemicals & Plant Extracts
    • Other Ingredients
  • Global Nutraceutical Ingredients Market, By Application:
    • Functional Food
    • Functional Beverages
    • Dietary supplements
    • Animal Feed
    • Others
  • Global Nutraceutical Ingredients Market, By Form:
    • Dry
    • Liquid
  • Global Nutraceutical Ingredients Market, By Region:
    • North America
      • U.S.
      • Canada
    • Europe
      • U.K.
      • Germany
      • Italy
      • France
      • Spain
      • Russia
    • Latin America
      • Brazil
      • Argentina
      • Mexico
      • Rest of Latin America
    • Asia Pacific
      • China
      • India
      • Japan
      • ASEAN
      • South Korea
      • Australia
      • Rest of Asia Pacific
    • Middle East & Africa
      • Middle East
      • Africa      
  • Company Profile
    • BASF SE*
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments
    • Future Plans
    • E.I. du Pont de Nemours and Company
    • Cargill Inc.
    • Archer Daniels Midland Company
    • DSM Nutritional Product
    • Tate & Lyle Plc.
    • Ingredion Incorporated
    • Ajinomoto Co. Inc.
    • FMC Corporation

 “*” marked represents similar segmentation in other categories in the respective section

Frequently Asked Questions

Global nutraceutical ingredients market was valued at around US$ 3467.3 Million in 2021.
Increasing use of nutraceutical ingredients in pharmaceutical drugs, owing to its properties such as anti-aging, prevention in chronic diseases, cancer, and health improvement is one of the major factors that is expected to propel growth of the market over the forecast period.
Increasing medical incidences and rising availability of vitamin-based supplements in departmental and other retail stores are the main trends in nutraceutical ingredients market.
High prices of raw material production costs for nutraceuticals products is the major factor restraining growth of the nutraceutical ingredients market.
Major players operating in the market include BASF SE, E.I. du Pont de Nemours and Company, Cargill Inc., Archer Daniels Midland Company, DSM Nutritional Products, Ingredion Incorporated, Tate & Lyle Plc, Ajinomoto Co. Inc., and FMC Corporation
The market is estimated to grow at around 7.35 % CAGR in the forecast period (2022-2030).

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