Market Analysis: Global Nutraceutical Ingredients Market
The Global Nutraceutical Ingredients Market is expected to reach USD 56.52 billion by 2025, from USD 31.69 billion in 2017 growing at a CAGR of 7.5% during the forecast period of 2018 to 2025. The upcoming market report contains data for historic years 2015 & 2016, the base year of calculation is 2017 and the forecast period is 2018 to 2025.
Market Definition: Global Nutraceutical Ingredients Market
Nutraceutical ingredients are specific types of foods or drinks that offer health benefits due to presence of active ingredients. Nutraceuticals improve health, delay the aging process, avoid chronic diseases, increase life expectancy, and support the structure or function of the body. Health benefits achieved by the nutraceutical ingredients are much more helpful than the basic nutritional food products provide. These health benefits are related to physiological or mental, reducing the risk of chronic diseases other than providing basic nutritional functions, promoting growth, and enhancing the performance of body or mind. For example for the benefits, milk is a nutraceutical product which is good for the heart and muscles, while omega 3 fatty acids help to prevent obesity.
In May 2017, VLCC Health Care Limited an Indian multinational acquired Wellscience (nutraceutical maker, now a brand owned by VLCC Online Services Pvt.Ltd). In this merger, VLCC is prolonging its existence in the high-growth fast moving healthcare goods (FMHG). This venture will allow retailing of nutraceuticals and cosmeceuticals products through the direct selling channel. In May 2017, Parry Nutraceuticals (a division of EID Parry and part of the Murugappa Group) received the US-FDA approval for its facility for organic microalgae cultivation and processing in India. Parry Nutraceuticals is already a preferred supplier of health supplements and now the company is making its mark in new product development to meet the increasing customer demand for value-added products based on microalgae.
Major Market Drivers and Restraints:
- Growth in life expectancy & health consciousness among consumers
- Growth in demand for functional and fortified foods
- Increase in incidences and burden of chronic diseases
- Mandating of food fortification by government organizations
- Increase in applications of nutraceutical ingredients
- Higher costs of fortified and enriched products
Market Segmentation: Global Nutraceutical Ingredients Market
- The global nutraceutical ingredients market is segmented based on type, application, form health benefits and geographical segments.
- Based on type, the global nutraceutical ingredients market is segmented into prebiotics, probiotics, proteins & amino acids, omega-3 fatty acids, minerals, vitamins, carotenoids, fibres & specialty carbohydrates, phytochemical & plant extracts and others. The others market segment is further sub segmented into glucosamine, chondroitin, and polyols.
- On the basis of application, the global nutraceutical ingredients market is classified into functional food, functional beverages, dietary supplements, animal nutrition and personal care. The animal nutrition market segment is further sub segmented into poultry, ruminants, swine, aquatic animals and others (equine and pets).
- On the basis of form, the global nutraceutical market is segmented into dry and liquid.
- Based on health benefits, the global nutraceutical ingredients market is segmented into gut health, bone health, heart health, immunity nutrition, weight management and. The others market segment is further sub segmented into ingredients that help prevent depression, asthma, and oral problems
- Based on geography, the global nutraceutical ingredients market report covers data points for 28 countries across multiple geographies namely North America & South America, Europe, Asia-Pacific and, Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa and, Brazil among others.
Competitive Analysis: Global Nutraceutical Ingredients Market
The global nutraceutical ingredients market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of nutraceutical ingredients market for global, Europe, North America, Asia Pacific and South America.
Major Market Competitors/Players: Global Nutraceutical Ingredients Market
Some of the major players operating in the global nutraceutical ingredients market are Cargill, Incorporated, DowDuPont, , BASF SE, Archer Daniels Midland Company, Associated British Foods plc, DSM, Ingredion, Arla Foods amba, Tate & Lyle, AJINOMOTO CO.,INC., FMC Corporation, PIOMA chemicals, BI Nutraceuticals, nutragenesis, NWIL, Barrington Nutritionals, CK Ingredients, Inner Mongolia Ever Brilliance Biotechnology Co., Ltd. and Marcor, among others.
Research Methodology: Global Nutraceutical Ingredients Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request an Analyst Call or can drop down your inquiry.
Demand Side Primary Contributors: Doctors, Surgeons, Medical Consultants, Nurses, Hospital Buyers, Group Purchasing Organizations, Associations, Insurers, Medical Payers, Healthcare Authorities, Universities, Technological Writers, Scientists, Promoters, Investors among others.
Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among others