(Entertainment-NewsWire.com, July 27, 2020 ) The health ingredients market is driven by shift in consumer preference from nutrition-based to health-specific food and increasing incidences of chronic disease. Moreover, growing research & development activities and rising demand for fortified food & beverage and animal feed applications are also driving the market. In 2016, the health ingredients market was valued at USD 67.98 Billion and projected to reach USD 101.32 Billion by 2022, growing at a CAGR of 6.96% from 2017 to 2022.
The prebiotic starter cultures segment is expected to be the fastest growing segment in the health ingredients market during the forecast period 2017-2022, due to increasing consumer awareness about various health benefits of consumption of probiotics. The multifunctionality of probiotics finds broad spectrum of applications such as animal feed, dairy beverages, and gut health function-specific food products.
The plant segment accounted for the largest share in the health ingredients market, in terms of value, in 2016. Plant-based health ingredients are a major source of vitamins, proteins, and other health ingredients for vegans and for the consumers with allergy with various animal derived ingredients, worldwide. High nutritional profile, low carbon footprint, and easy availability of plant- and vegetable-based health ingredients are significantly driving the consumption of these health ingredients.
In 2017, the Europe region is estimated to hold the highest share in the global health ingredients market whereas Asia-Pacific is projected to grow at the highest CAGR during the forecast period. The presence of a large food & beverage industry offers the European health ingredients market a prominent consumer base as well as growth prospects.
The Asia-Pacific market is driven by the economic growth of the region, coupled with increasing demand for health specific food & beverage products. The health ingredients market among Asia-Pacific countries is on the growth curve. Evolving consumer taste, rising prevalence of chronic diseases and increasing healthcare costs are expected to contribute to the growth of the health ingredients market in the coming years.
This report includes a study of marketing and development strategies, along with the product portfolios of leading companies. It includes the profiles of leading companies such as Koninklijke DSM N.V. (Netherlands), Kerry Group (Ireland), E. I. du Pont de Nemours and Company (Wilmington, U.S.), and Archer Daniels Midland Company (U.S.).
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