According to the latest report published by Credence Research, Inc. “Nutraceutical Ingredients Market (Ingredient type: Prebiotics, Probiotics, Proteins and Amino Acids, Vitamins, Minerals, PUFA/Specialized Lipids, Phytochemicals or Botanical Extracts, Specialized Carbohydrates and Fiber, Carotenoids and Antioxidants, and Others; Application Type: Functional Foods and Beverages, Dietary Supplements, Personal Care, and Others; Therapeutic Area Type: Digestive Health, Cardiovascular Health, Bone and Joint, Cognitive Health, Weight Management, Immunity, Nutrition, and Others)- Growth, Future Prospects and Competitive Analysis, 2017-2025,” the global nutraceutical ingredients market was valued at US$ 25.4 Bn in 2016, and is expected to reach US$ 49.6 Bn by 2025, expanding at a CAGR of 7.6% from 2017 to 2025.
Browse the full report Nutraceutical Ingredients Market – Growth, Future Prospects, and Competitive Analysis, 2017–2025 report at https://goo.gl/7LZGbf
Nutraceutical is a combinational product exhibiting nutritional value merged with pharmaceutical benefits, which helps to replenish nutrients in the body. The growing demand for nutraceuticals is fuelled by their claimed health benefits beyond nutritive values and preventive health measurements. Globally increasing cases of chronic disorders and lifestyle diseases is likely to have a positive impact on nutraceutical ingredients market. Growing geriatric population, increasing inclination to self-medication, emerging sports nutrition positively influence nutraceutical ingredients market. Increasing healthcare expenditure, easy accessibility of nutraceutical product and growing consumer demand propel the growth of nutraceutical ingredients market globally.
On the basis of ingredient type, vitamins, minerals, proteins and amino acids were predicted to capture the largest market share; whereas specialized carbohydrates and fibers will be the fastest growing segment due to increasing consumer demand. Among the application types, dietary supplements is predicted to hold the maximum share owing to vast clinical applications and continuous research in terms of product innovation. Digestive health, cardiovascular disease, and weight management support major growth opportunity for nutraceutical ingredients market.
Geographically, in the year 2016, Asia Pacific dominated the nutraceutical ingredients market and is expected to exhibit lucrative growth in coming years, as a result of incorporation of natural and traditional alternative form of medicine like herbal ingredients into nutraceutical formulation, increasing personal income, large target population and increasing health awareness. The nutraceutical ingredients market of North America and Europe is largely driven by increasing prevalence of chronic ailments like diabetes, obesity, cardiac disorders and others. Increasing personal income, growing acceptance of products by consumers, rising expenditure in R&D for product innovation and presence of major manufacturers are playing chief roles in the growth of nutraceutical ingredients market in North America and Europe.
Market Competition Assessment:
The nutraceutical ingredients market presently comprises various companies having their products commercialized across various geographies. The manufacturers are developing new innovative products and the market is growing as a result of increasing adoption and accessibilities of these products. The key industry players include Archer Daniels Midland Company, DuPont, BASF SE, Cargill, Incorporated, Tate & Lyle, Ajinomoto Co., Inc., Ingredion Incorporated, Arla Foods amba and other notable players.
Key Market Movements:
Ø The increasing awareness of public towards better health, increasing expenditure in R&D for product innovation, growing prevalence of chronic diseases propel growth of nutraceutical ingredients market
High cost of product and stringent regulatory guidelines for product approval are likely to hinder the growth of nutraceutical ingredients market