Global Nutraceutical Ingredients Market is valued at USD 188.70 Billion in 2023 and is anticipated to grow with a healthy growth rate of 7.4% over the forecast period 2024-2032. Nutraceutical ingredients are crucial components added to functional foods and beverages to enhance their nutritional profile, improve flavor, and boost sensory qualities. As consumers increasingly prioritize health and wellness, there has been a significant surge in demand for nutraceuticals. This trend is driven by growing consumer awareness regarding the preventive healthcare benefits that these ingredients offer, along with the rising popularity of functional foods that not only provide essential nutrients but also contribute to overall health.
One of the key drivers of the nutraceutical ingredients market is the growing consumer preference for natural products, particularly those that support preventive healthcare. The demand for nutraceutical ingredients has been bolstered by the increasing incidence of obesity, digestive issues, and gastrointestinal infections, leading to a greater emphasis on products that can aid in the treatment and prevention of these conditions. As a result, market players are focusing on innovation to introduce new products that cater to these health concerns. Moreover, the innovation in nutraceutical products and increasing online sales channels present various lucrative opportunities over the forecast years. However, the high cost of nutraceutical ingredients and the short shelf life of natural products are challenging the market growth throughout the forecast period of 2024-2032.
The key regions considered for the Global Nutraceutical Ingredients Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is a dominating region in the Global Nutraceutical Ingredients Market in terms of revenue. The market growth in the region is being attributed to factors including the widespread usage of dietary supplements and the growing awareness of their health benefits. In this region, a significant percentage of the adult population consumes dietary supplements regularly, driven by the desire to maintain good health through proper nutrition. Whereas, the market in Asia Pacific is anticipated to grow at the fastest rate over the forecast period fueled by rapid economic growth, increased consumption of convenience foods, and rising disposable incomes are contributing to the growing demand for nutritionally enriched food and beverage products in this region.
Major market players included in this report are:
Archer Daniels Midland Company
Innophos Holdings Inc.
Danone
Valensa International
Natrol, Inc.
Royal DSM
Matsun Nutrition
Amway Corporation
EID Parry India Ltd.
Mead Johnson
AOR International
Nestle S.A.
General Mills, Inc.
Herbalife Ltd.
Cargill, Incorporated
The detailed segments and sub-segment of the market are explained below:
By Application
Dietary Supplements
Functional Food and Beverage
Animal Nutrition
Others
By Type
Probiotics
Vitamins
Minerals
Proteins
Dietary Fibers
Others
By Form
Dry
Liquid
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of Latin America
Middle East & Africa
Saudi Arabia
South Africa
RoMEA
Years considered for the study are as follows:
Historical year - 2022
Base year - 2023
Forecast period - 2024 to 2032
Key Takeaways:
Market Estimates & Forecast for 10 years from 2022 to 2032.
Annualized revenues and regional level analysis for each market segment.
Detailed analysis of geographical landscape with Country level analysis of major regions.
Competitive landscape with information on major players in the market.
Analysis of key business strategies and recommendations on future market approach.
Analysis of competitive structure of the market.
Demand side and supply side analysis of the market.
