In 2022, the Nutraceutical Ingredients Market was valued at USD 5.26 billion. It is projected to reach USD 8.6 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.7% during the forecast period. The popularity of nutraceutical ingredients among consumers is on the rise, primarily due to their potential health benefits and the increasing awareness of the importance of preventive healthcare.
Factors such as changing lifestyles, higher healthcare expenditures, and growing consumer interest in natural and organic products are driving the demand for nutraceutical ingredients. The prevalence of chronic diseases like obesity, diabetes, and cardiovascular conditions has led consumers to adopt a proactive approach to their health. As a result, many food and beverage products now incorporate nutraceutical components known for their functional properties that can enhance overall health and well-being.
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Top Companies Operating in the Global Nutraceutical Ingredients Market Report:
- DSM Nutritional Products
- BASF SE
- Koninklijke DSM N.V.
- Cargill, Incorporated
- Archer Daniels Midland Company
- FMC Corporation
- Ingredion Incorporated
- Kerry Group plc
- Ajinomoto Co., Inc.
- Bioriginal Food & Science Corp.
- Naturex S.A. (Givaudan)
- SternVitamin GmbH & Co. KG
Drivers of Nutraceutical Ingredients Market
· Growing consumer awareness: Increasing awareness among consumers about the benefits of nutraceutical ingredients, including vitamins, minerals, amino acids, and herbal extracts, has been a significant driver. Consumers are becoming more health-conscious and are actively seeking products that offer additional health benefits beyond basic nutrition.
· Rising health and wellness trends: The global health and wellness movement has had a substantial impact on the nutraceutical ingredients market. As people aim to lead healthier lifestyles and address various health concerns, they are turning to nutraceutical products as a way to supplement their diets and support overall well-being.
· Aging population: The world's aging population has driven demand for nutraceutical ingredients, especially those associated with age-related health concerns, such as joint health, cognitive function, and cardiovascular health. Nutraceuticals are increasingly being used to support healthy aging and improve the quality of life for seniors.
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To assist readers in making profitable business decisions, the report is written with the help of industry analysts, market segmentation, and data collection. In addition to providing a comprehensive database of technological and product advances, the report provides detailed information on growth rates, market values, as well as niche market segments.
This report analyzes the Nutraceutical Ingredients market in terms of growth rate, market share, current and emerging trends, production and consumption ratios, industrial chains, demand and supply, imports, exports, revenue contribution, and key player presences in key regions. As a part of the report, a country-by-country analysis of the Nutraceutical Ingredients market is provided to gain a deeper understanding of its growth and progress.
The global Nutraceutical Ingredients market is segmented into:
· North America (U.S.A., Canada, Mexico)
· Europe (Italy, U.K., Germany, France, Rest of Europe)
· Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
· Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
· Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Further market segmentation
Type Outlook:
- Vitamins
- Minerals
- Probiotics
- Omega-3 Fatty Acids
- Proteins
- Others
Application Outlook:
- Functional Foods
- Dietary Supplements
- Personal Care
- Others
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