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Nutraceutical Ingredients Market worth over USD 75.10 billion by 2028

  • Published Date: May 26, 2022

According to a new research report by Global Market Insights Inc., the global Nutraceutical Ingredients Market size is set to surpass USD 75.10 billion by 2028 owing 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. The increasing government support towards mandating food fortification is another impact rendering factor influencing the nutraceutical ingredients market revenue.

Rising demand for food & beverages products is attributed to escalating population, technological advancements, streamlined manufacturing processes and improved cold chain facilities. Shifting consumer preference towards nutritious food owing to rising health awareness among population due to rising prevalence of chronic diseases due to unhealthy lifestyle has resulted in increasing fortified and functional foods which helps to promote gut health, brain, and benefit physical appearance.

Increasing usage of nutraceutical ingredients in animal feed to increase immunity among livestock will foster the demand for probiotics

The probiotics product accounts for a significant share in the nutraceutical ingredients market and is anticipated to reach over USD 15.40 billion by the year 2028. Emerging livestock diseases has led to rise in incorporation of probiotics in livestock nutrition products to increase immune response and maintain quality of animal derived products may foster industry growth. Lactobacilli probiotics are incorporated in animal feed helps in maintaining microbial flora, colonization resistance and increase in feed conversion ratio.

Lactobacillus probiotic strains have prominent applications in foods fortified with probiotics including fermented food, yogurt, supplements, milk, sour cream, and cheese. The incorporation of L. bulgaricus, L. plantarum, and L. acidophilus in yogurt-like products potentially reduces the risks of yeast infections and coronary heart diseases. It is also added with milk for its probiotic characters, making it easier to digest compared to regular milk for a lactose-intolerant individual.

The increasing utilization of S. boulardii in producing innovative functional food items will fuel the Saccharomyces (Yeast) product demand, thus accelerating business growth. S. boulardii is used to develop several functional foods such as fermented alcoholic, vegetable, non-alcoholic, and bakery products. It has probiotic properties, such as survival capacity in the acidic environment of the gastrointestinal tract and improvements in the intestinal microbiota, finding wide applications in the functional foods industry.

Increasing actively seeking preventive care practices of consumers is expected to escalate nutraceutical ingredients demand from functional food application

The functional food application reached USD 15.20 billion in 2021 and should grow with a CAGR of 7% during the anticipated period. The rising occurrence of lifestyle diseases, increasing elderly populace, poor diets with reduced nutritional uptake ability, and rising health awareness are promoting functional food market growth. Due to the pandemic, there is a rise in consumer awareness and the demand for nutrition products has seen huge growth.

Consumers are actively seeking preventive care practices and are willing to spend more; hence, functional food demand has grown, in turn driving the nutraceutical ingredients market growth. Favorable government initiatives & regulations for nutritious products are propelling the industry forward in the foreseeable timeframe.

Browse key industry insights spread across 1173 pages, 1552 market data tables and 64 figures & charts from the report “Global Nutraceutical Ingredients Market Size by Product (Probiotics {Lactobacilli, Bifidobacterium, Bacillus, Streptococcus, and Saccharomyces (Yeast)}, Prebiotics {FOS, Inulin, GOS, and MOS}, Vitamins {Vitamin A, Vitamin C, Vitamin D, Vitamin E, Vitamin K, Vitamin B1, Vitamin B2, Vitamin B6, Vitamin B12, Biotin, Folic acid and Niacin), Amino Acids {Lysine, Methionine, Threonine and Tryptophan}, Carotenoids {Beta-carotene, Lutein, Astaxanthin, Canthaxanthin, and Lycopene}, Phytochemicals & Plant Extracts {Phytosterols and Flavonoids}, Protein {Plant Proteins and Animal Proteins}, EPA/DHA {Anchovy/Sardine, Algae Oil, Tuna Oil, Cod Liver Oil, Salmon Oi, Krill Oil And Menhaden Oil}, Minerals, and Fiber & Carbohydrates {Cereals & Grains And Fruits & Vegetables), By Application (Functional Food, Functional Beverages, Dietary Supplements, Personal Care And Animal Nutrition), By Form (Dry Form and Liquid Form), Industry Analysis Report, Regional Outlook, Application Potential, Price Trend, Competitive Market, 2022- 2028in detail along with the table of contents:

Increasing demand for long shelf life of ingredients from manufacturers is accelerating the demand for dry form in nutraceutical ingredients market

The dry form accounts for a significant share in the nutraceutical ingredients market and is anticipated to reach over USD 52.95 billion by the year 2028 due to their long shelf life and improved stability. Most of the nutraceutical ingredients are manufactured as dry products due to their convenience and stability. Dry form of products is easy to encapsulate as compared to liquid form this factor is boosting its demand in the market.

Well-established nutraceutical industry In North America should propel nutraceutical ingredients market

North America reached USD 16.65 billion in 2021 and should grow with a CAGR of 7.2% during the anticipated period. The high consumption of dietary supplements worldwide, new product launches, and well-established nutraceutical industry are driving industry growth in North America. The rising prevalence of micronutrient deficiency due to improper diets is propelling the demand for functional products & supplements.

The U.S. also has the highest health expenditure per capita in the world. The well-established nutraceutical industry in the U.S. is driving regional nutraceutical ingredients market growth. Due to the rising health-consciousness, the demand for nutritious products is also increasing among women, millennials, and baby boomers. The increasing healthcare costs and rising prevalence of chronic diseases are propelling industry growth.

Moreover, due to the higher prevalence of obesity, Americans are trying to cut calorie intake and shift towards nutritious foods for weight management, which is driving market growth. The consumption of animal-based products is high due to economic developments, high disposable incomes, and government subsidiaries. As nutraceutical ingredients are utilized in animal feed to boost production, there is a significant demand for them in North America.

Players in nutraceutical ingredients market are implementing multiple strategies including acquisition, and expansion to sustain their position in the nutraceutical ingredients industry. The major players include Archer Daniels Midland Company (ADM), Ingredion, BASF SE, Roquette Freres, Arla Foods Ingredients, Tate & Lyle, Cargill Incorporated, DSM, which play a significant role in nutraceutical ingredients market.

For example, in April 2022, Cargill expanded its product RadiPure Pea Protein across Middle East, Africa (META), Turkey, and India. The strategic initiative was aimed to help food and beverage manufacturers in the region in terms of developing marketplace trends. In May 2021, Ingredion acquired Ka Tech, a German company specializing in advanced texture and stabilization solutions to the food and beverage industry. The strategic acquisition was meant for the company’s expansion of specialty ingredients portfolio.

Authors: Kunal Ahuja, Sarita Bayas

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