Allied Market Research published a report, titled, “Nutraceutical Ingredients Market by Type (Probiotics, Vitamins, Minerals, Proteins, Dietary Fibers, Others), by Form (Dry, Liquid), by Application (Dietary supplements, Functional Food and Beverage, Animal Nutrition, Others): Global Opportunity Analysis and Industry Forecast, 2022-2031.” According to the report, the global nutraceutical ingredients industry generated $163.9 billion in 2021, and is estimated to reach $327.3 billion by 2031, witnessing a CAGR of 7.3% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.
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Drivers and Opportunities
Growing customer preference for natural food products, increase in popularity of probiotic dietary supplements, rising concerns of consumers about preventative healthcare and the effectiveness of these substances on their health, increase in consumer preference for functional foods, and surge in incidence of chronic diseases among the population propel the growth of the global nutraceutical ingredients market. However, high cost of production of nutraceutical ingredients hinder the market growth. On the other hand, the rise in investment in R&D to investigate novel applications for nutraceutical components and efforts made by governments throughout the world to promote the use of nutraceuticals present new opportunities for the market in future.
Regional Outlook:
Region wise, North America dominated the market with the largest share during the nutraceutical ingredients market forecast period. The nutraceutical ingredients market growth in this region is attributed to an increase in the usage of dietary supplements since people are becoming more aware of the health advantages of taking them because they include nutrients, primarily minerals and vitamins. 80% of American adults use dietary supplements, according to U.S. Pharmacopeia Convection.
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The probiotics segment to maintain its lion’s share during the forecast period
Based on type, the probiotics segment held the largest share of nearly one-third of the global nutraceutical ingredients market in 2021, and is expected to maintain a prominent growth during the forecast period. Probiotics render health benefits in the large intestine such as the reduced risk of cancer and increased absorption of calcium and magnesium. Probiotics are usually found in fermented food or taken as supplements. However, the proteins segment is likely to exhibit the highest CAGR of 8.1% in 2031. Proteins have gained significant importance in human life as it plays various roles in the human body such as transporting molecules throughout the body and protecting the body from viruses and bacteria.
Leading Market Players
- AMWAY CORPORATION
- AOR International
- Archer Daniels Midland Company
- Cargill Incorporated
- Danone
- EID Parry India Ltd.
- General Mills, Inc.
- Herbalife Ltd.
- Innophos Holdings Inc.
- Matsun Nutrition
- Mead Johnson
- Nestle S.A.
- Natrol Inc.
- Royal DSM
- Valensa International
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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.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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