The global Nutraceutical Ingredients Market size was valued at $163.9 billion in 2021, and is projected to reach $327.3 billion by 2031, growing at a CAGR of 7.3% from 2022 to 2031. Growing customer preference for natural goods is a significant element impacting market expansion. The demand for nutraceuticals is expanding as a result of consumers’ rising concerns about preventative healthcare and the effectiveness of these substances on their health. Because more people are consuming functional foods, which in addition to providing essential nourishment also have the potential to benefit health, the demand for nutraceutical ingredients has surged.
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Market Drivers:
The global market for nutraceutical ingredients is expanding favorably due to a wide range of driving factors. An important reason in the market’s expansion has been the rising incidence of chronic illnesses and diseases. This has raised awareness about leading a healthy lifestyle and eating well. Non-communicable diseases have significantly increased in prevalence in recent years. The majority of cases are brought on by evolving lifestyles that are predominately unhealthy. Naturally, this has contributed to the rise in demand for nutraceutical substances that aid in the prevention of such disorders. As a result, the market has recently experienced a significant expansion.
Key Benefits
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the nutraceutical ingredients market analysis from 2021 to 2031 to identify the prevailing nutraceutical ingredients market opportunities.
- Market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the nutraceutical ingredients market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
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Prominent Market Players
The major players analyzed for the nutraceutical ingredients industry Amway Corporation, AOR Inc., Archer Daniels Midland, Cargill Incorporated, Danone, EID Parry, General Mills, Herbalife International of America Inc., Innophos, Matsun Nutrition, Mead Johnson, Nestle SA, Natrol, Royal DSM, and Valensa International. Key players operating in the nutraceutical ingredients market have adopted product launch, business expansion, and mergers & acquisitions as key strategies to expand their nutraceutical ingredients market share, increase profitability, and remain competitive in the market. In order to get an advantage over rival manufacturers in the market, they are primarily focused on improving the quality of their products. Manufacturers have an advantage in expanding their product line internationally due to an advanced distribution network and manufacturing knowledge and expertise.
Regional Outlook:
In addition, Asia-Pacific region is the fastest growing region in the global nutraceutical ingredients market. Convenience food consumption has increased as a result of busy lifestyles, and the region’s economies have grown more rapidly. This has increased demand for enriched nutritional food and beverage items. Another important factor likely fueling nutraceutical ingredients market expansion in the Middle East & Africa and the Asia-Pacific is growing consumer expenditure on health and wellness products as a result of changing lifestyles and rising disposable income.
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