Nutraceutical Ingredients market is expected to experience significant growth in coming years between 2017 and 2025. The market is expected to become 55.41 billion by 2025 at a growing CAGR of 7.32%. The market is primarily driven by increased incidences of chronic diseases, need for extended life span and wide application of nutraceutical ingredients in various functional areas across the globe. Nutraceutical ingredients are highly beneficial in the cases of chronic diseases. The chronic diseases mainly occur due to nutrient deficiency in the body and it has become a common phenomenon across the globe. For instance, as per CDC, chronic diseases are one of the leading causes of death and disability in US. Even, CDC reported, that about half of all the adults had one or more chronic health conditions. This indicates the rising demand of nutraceuticals ingredients in future years as nutraceutical helps in curing the diseases rapidly. In addition, the rising geriatric population has led to the increase of various health issues which will also fuel the growth of this market over the forecast years. Even, the changing lifestyles and food habits of people will also impact the market growth. Food products consisting of nutraceutical ingredients, helps to combat nutrient deficiency and prevents various disorders in the body. As per survey, people are now getting more inclined towards these kinds of food products to reduce the risk of getting affected by chronic diseases. Thus, all these driving factors ensure steady growth of nutraceutical ingredients market over the forecast period.
Nutraceuticals ingredients covers wide range of therapeutic areas from small infections such as cold, cough, sleeping disorders to prevention of life threatening diseases including cancer and cardiovascular diseases. It may range from dietary supplements to genetically modified food products to enhance nutritional value. Probiotics are food products which are used to improve gastrointestinal flora through live microbial feed supplement. Probiotics are used to treat or improve number of gastro intestinal conditions such as lactose intolerance, acute diarrhea and antibiotic associated complications. Another major class of nutraceutical is amino acid. Amino acids are building block of proteins made up of basic amino group and carboxyl group. Amino acids are primarily used for improving muscle growth, reduce fatigue, fasten fat burning process and improve mental wellbeing.
Regional Outlook and Trend Analysis
North America held a significant share of the nutraceutical ingredients market in 2016 due to the rapid changing lifestyle of people and increase in cases of chronic diseases. For instance, as per CDC, in US, seven of the top ten causes of death in 2014 were chronic diseases. The Asia-Pacific market is expected to experience considerable growth of the market due to the rising geriatric population in this region in the upcoming years.
Competitive Outlook and Trend Analysis
The key players operating in the nutraceutical ingredients market emphasize on product development in order to introduce more variants and flavors to capture a larger share of the market. Some of the major players in this market are, Archer Daniels Midland Company (U.S), Cargill, DuPont, Associated British Foods plc (U.K), BASF SE (Germany), Tate & Lyle PLC (U.K) Dean Foods, Ingredion Incorporated (U.S), Ajinomoto Co., Inc. (Japan), Koninklijke DSM N.V. (Netherlands), Arla Foods (Denmark), Nestle S.A., and PepsiCo Inc..
Market Opportunities
The key opportunity for the players operating in nutraceutical ingredients market lies in the development of food and supplements using nutraceutical ingredients. Since people are getting more inclined towards healthy foods and changing lifestyles, the consumption of such foods are likely to increase in the upcoming years. Moreover, increasing awareness towards chronic diseases will also encourage people to consume these supplements, as nutraceutical reduces the risk of chronic diseases. However, daily consumption of such foods may cause some side-effects, thereby imposing negative effect in the market growth.
