PUBLISHER: Allied Market Research | PRODUCT CODE: 1192975
PUBLISHER: Allied Market Research | PRODUCT CODE: 1192975
The global nutraceutical ingredients market was valued at $163.9 billion in 2021, and is projected to reach $327.3 billion by 2031, growing at a CAGR of 7.3% from 2022 to 2031.The incorporation of the nutraceutical ingredients into food, beverages, dietary supplements, personal care products, and animal feed has applications in newborn and maternal nutrition, sports nutrition, medical nutrition, and animal nutrition. The rise in the prevalence of infectious and chronic diseases, as well as the expanding usage of nutraceutical ingredients in food and beverage applications, are the main factors propelling the expansion of the global market for nutraceutical ingredients.
The nutraceutical ingredients market is analyzed based on type, form, application, and region. By type, the market is divided into probiotics, vitamins, minerals, proteins, dietary fibers, and others. Further, proteins segment is bifurcated into plant proteins and animal proteins. By form, the market is divided into dry and liquid. By application, it is classified into dietary supplements, functional food & beverage, animal nutrition, others. Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, Finland, Spain, Germany, France, Italy, and the rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, New Zealand, and the rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and Rest of LAMEA).
The demand for nutritional supplements and functional foods has increased as a result of the COVID-19 pandemic. The popularity of immunity-boosting supplements has significantly altered consumer behavior and purchasing habits. Additionally, following the COVID-19 pandemic, people's daily life will likely include preventive healthcare practices like taking dietary supplements. As a result, the global COVID-19 pandemic has made it possible for nutraceutical ingredients to establish a significant market presence.
The primary driver of the global market for nutraceutical ingredients is the increasing availability of vitamin-based supplements in departmental and other retail outlets. Due to their significant advantages, such as illness prevention, youthful vitality, and good health, these products are widely accepted by consumers. People of all ages take dietary supplements to consume the recommended dietary requirements. The diverse forms of these supplements include pills, tablets, powders, capsules, gel caps, and liquids.
The key players operating in the nutraceutical ingredients market have adopted product launch, business expansion, and merger & acquisition as its key strategies to expand their market share, increase profitability, and remain competitive in the market. The major players operating in the global nutraceutical ingredients market are Amway Corporation, AOR Inc., Archer Daniels Midland, Cargill Incorporated, Danone, EID Parry, General Mills, Herbalife International of America Inc., Innophos, Matsun Nutrition, Mead Johnson, Nestle SA, Natrol, Royal DSM, and Valensa International.
Key Benefits For Stakeholders
By Application
By Type
By Form
By Region