Global nutraceutical ingredients market was valued at US$ 30.57 billion in 2016, according to Global Nutraceutical Ingredients Market by Product Ingredients (Vitamins, Prebiotics, Proteins and Amino Acids, Omega Fatty 3 Acids, and Others), by Application (Functional Food, Functional Beverages, Dietary Supplements, and Others), by Form (Dry and Liquid) published by Coherent Market Insights. The nutraceutical ingredients market is expected to exhibit a CAGR of 7.31% over the forecast period (2017–2025) to reach US$ 57.46 billion by 2025.
Key drivers for growth of the nutraceutical ingredients market is the associated health benefits of its consumption such as delay in aging process, supports functions of the body, provides prevention from chronic diseases and increases life expectancy. Furthermore, consumption of nutraceutical ingredients is expected to aid in maintaining health of an individual and reducing the risk of chronic diseases such as cancer, diabetes, obesity, and various others. Another factor expected to drive growth of the market is increasing micronutrient deficiency among individuals. According to Food and Agriculture Organization (FAO), United Nations, one in three people suffer from micronutrient deficiency, globally.
However, demand of these ingredients increases owing to limited manufacturing of nutraceuticals, and delay in the lab to market supply chain are one of the major factors restricting the growth of global nutraceutical ingredients market.
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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.
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