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Nutraceutical Ingredients Market Size

  • Report ID: GMI2223
  • Published Date: Apr 2023
  • Report Format: PDF

Nutraceutical Ingredients Market Size

Nutraceutical Ingredients Market was valued at USD 50.2 billion in 2023 and is predicted to showcase around 5.5% CAGR from 2024 to 2032.

The market growth is due to the expanding geriatric and obese population across the globe. The growing preference for balanced diets on account of the higher prevalence of chronic diseases and the surge in concerns pertaining to longer life spans are also some promising drivers accelerating the market penetration.

 

 

Nutraceutical Ingredients Market

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The rising consumer awareness regarding healthy diet consumption has led to an increase in food & food ingredients demand, thereby driving the nutraceutical ingredients market size. Food products that meet the growing consumer expectations of a healthy lifestyle have gained tremendous popularity over recent years, especially during the COVID-19 crisis. As health and nutrition continue to be the top priority among pandemic-weary consumers, the demand for functional food items is only expected to advance in the foreseeable future.
 

The substantial growth of a fiber-rich diet coupled with high nutritional supplement consumption is boosting the industry growth. The increasing prevalence of lifestyle diseases, gastrointestinal diseases, and increased personal care expenditure will induce the need for dietetic nutrition. Furthermore, shifting consumer perception toward dietary products along with the benefits such as control of cholesterol levels & blood sugar and improved bowel health is set to surface lucrative opportunities for the nutraceutical ingredients market.
 

The increasing consumer consciousness toward therapeutic products has led to the incorporation of probiotic cultures in various food products. The increasing product usage in food applications including yogurt-type drinks, berry soups, fruit juices, and cereal & soy-based fermented products will stimulate the human probiotic ingredients market. The rising consumption of dietary supplements including probiotics with beneficial effects on chronic diseases and the immune system will fuel the nutraceutical ingredients market outlook.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

The market size of nutraceutical ingredients was worth over USD 50.2 billion in 2023, given the accentuating demand for food products with rich nutritional composition and added health benefits.

The dry-form nutraceutical ingredients industry size is estimated to cross USD 74.9 billion by 2032, attributed to the easy manufacturing and low storage, shipping, and transportation costs associated with dry ingredients.

The functional food applications is expected to amass more than USD 35.2 billion in revenues by 2032, owing to the changing dietary preferences and growing consumer inclination toward nutritional foods and drinks.

BASF SE, ADM, Ingredion, DSM NV, Cargill, Tate & Lyle, Ajinomoto, Roquette Freres, Arla Food Ingredients, Divis Laboratories, Cosucra Groupe Warcoing SA, Prinova Group, LLC, Ambe Phytoextracts Pvt Ltd, Nutraland USA, Nutra Food Ingredients are some notable players operating in the market.

Nutraceutical Ingredients Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 23
  • Tables & Figures: 1554
  • Countries covered: 22
  • Pages: 308
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