Global Nutraceutical Ingredients Market was valued at US$ 3467.3 million in 2021, According to Nutraceutical Ingredients Market Report, by Product Ingredients (Vitamins, Prebiotics and Probiotics, Proteins and Amino Acids, Omega Fatty 3 Acids, Minerals, Carotenoids, Fibers & Specialty Carbohydrates, Phytochemicals & Plant Extracts and Other Ingredients), by Application (Functional Food, Functional Beverages, Dietary Supplements, Animal Feed and Others), by Form (Dry and Liquid) and by Region (North America, Latin America, Asia Pacific, Europe, and Middle East & Africa), published by Coherent Market Insights
Global nutraceutical ingredients market was valued at US$ 3467.3 Million in 2021. Nutraceutical ingredients market is expected to register a CAGR of 7.35 % over the forecast period (2022–2030), to reach US$ 6452.6 Million by 2030.
The great advantage of nutraceuticals ingredients is that they are not perceived as medicines but as nutrition products targeted at specific health problems. The concentrated bioactive ingredients they contain are intended to prevent disease or support the healing process. Research on new compounds derived from plants is now a priority for maintaining sustainable protection of biodiversity and its rational use. Intensified research into the production of plants’ secondary metabolites is a result of strong bioavailability discovered in natural products. Currently, natural plant substances are obtained using biotechnological methods. They provide a favorable alternative to the extraction of desired ingredients from all plant materials. By developing bioreactor techniques, it has become possible to increase plant biomass and, consequently, the secondary metabolites they produce and cane be made available to the customers.
With a high number of COVID-19 cases in major countries like the U.S., China, Canada, India, Germany, the U.K., and others, the requirement for nutraceutical ingredients remains high due to their functional benefits, and it will run continuously high on demand in the upcoming years as well. The dietary supplement was popular over other nutraceutical ingredients during COVID-19 due to its functional benefits.
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/nutraceutical-ingredients-market-1080
Browse 50 market data tables* and 40 figures* on "Global Nutraceutical Ingredients Market” - Forecast to 2030.
Key Trends and Analysis of the Global Nutraceutical Ingredients Market:
- Among regions, North America accounted for a second largest market share of 33.18% in 2021 after Asia Pacific. This growth is attributed to increasing use of dietary supplements owing to rising awareness regarding health benefits of consumption of these supplements as it provides nutrients mainly minerals and vitamins. For instance, in March 2020, Kerry Group, an international leader in taste & nutrition innovation invested US$ 125 million to expand their manufacturing facility in Georgia, U.S.
- Consumers are more concerned about improving their health than paying huge medical bills for treatment, so most people are inclined toward nutraceutical ingredient products. Globally, nutraceuticals are gaining importance and becoming a part of the consumer’s daily diet. Nowadays, amendments in the products are made as per the current trend in the market. Thus, key players are looking for merger and acquisitions so as to expand the nutraceuticals ingredients market. For instance, in 2021, ArchiMed, a leading investment firm focused exclusively on the healthcare industries acquired SUANFARMA, a key manufacturer and distributor of active nutraceutical ingredients and pharmaceuticals, to outsource their vital products globally, which will boost their sales and profit growth.
Key Takeaways of the Global Cotton Pads Market:
- According to Coherent Market Insights in 2021, among application, functional beverages segment held largest revenue share of 34.37% in the global nutraceutical ingredients market in 2021 This is owing to the burgeoning growth in consumption of energy drinks & enhanced drinks, majorly by millennials, globally. According to National Centre for Complementary and Integrative Health in 2020, males consume most of the energy drinks between age of 18 and 34. Functional beverages contain probiotics as nutraceutical ingredients and consumption of these aids in improving gut health, immune system, etc.
- Key players operating in the nutraceutical ingredients market are focusing on various strategies such as online platforms in order to strengthen their market presence and expand their product portfolio. For instance, in January 2020, ADM, an American multinational food processing and commodities trading corporation acquired Yerbalatina Phytoactives, a manufacturer of natural plant-based extracts and ingredients, to improve its position in the health and wellness industry.
- New product launches, merger & acquisitions, strategic partnership expansion, and research & development activities for the nutraceutical ingredients are key strategies adopted by players in the global nutraceutical ingredients market. For instance, in April 2020, Chr. Hansen, a bioscience company based in Hørsholm, Denmark acquired HSO Health Care GmbH, an Austrian company that focuses on the research and development of probiotics targeting women's health, in order to expand its probiotics business.
