Trends in nutraceutical ingredients

THE NUTRACEUTICAL ingredients market is valued at USD 34.06 billion in 2018 and as it grows at a CAGR of 7.5%, it is estimated to reach USD 49.02 billion by 2023. The growth is riding on several global factors. MarketsandMarkets notes these factors to include better health consciousness and increased life expectancy of consumers;  the rise in cases of chronic diseases; increased applications being discovered for nutraceutical ingredients, and emerging food processing technologies that help to upgrade the nutritional benefits of food products.

In the global market, Asia Pacific and Europe are currently showing higher demand. Consumer shift from synthetic food products to organic and herbal-based products is a major trend pushing demand for phytochemical & plant extracts in both these regions, explains MarketsandMarkets.

Furthermore in APAC, the food and beverage market continues to adapt to macro trends such as urbanisation, changing lifestyles, diet changes, and the liberalisation of foreign direct investment in the food sector. Also, the rise in income, purchasing power, and consumer demand for nutritional & healthy products provide more prospects for the growth and diversification in the region's food sector, says MarketsandMarkets.

Fibres & specialty carbohydrates

In 2017, the fibres & specialty carbohydrates segment accounted for the largest share, in terms of both value and volume. The segment is driven by rising concerns over obesity and gastrointestinal disorders, increased consumption of food & beverage products with high level of nutritional benefits, and fibres such as breakfast cereals and fortified juices, and bread. The health benefits of fibers fuel growth in this segment. Fibre intake is believed to help in preventing certain cancers, especially colon and breast cancers; lowers cholesterol, and enhances gut health.

Dietary supplements

In terms of value, the dietary supplements segment accounted for the largest share of the nutraceutical ingredients market in 2017. High demand for sports and nutritional products and increase in protein intake by athletes and fitness enthusiasts have positively impacted this market. With the increased occurrence of health problems such as malnutrition and weak immune systems and deficiency of certain nutrient components in the diet, the demand for dietary supplements and products has increased over the past few years. With the increase in quality and the arrival of clinically proven products in the market, the trust of people is increasing for such products.

Dry segment

On the basis of form, the dry segment dominated the nutraceutical ingredients market.

In 2017, the dry segment accounted for the largest share. Rise in the demand of sports and nutritional products and increase in protein intake by athletes and fitness enthusiasts have positively impacted this market.

For more information, access the new report "Nutraceutical Ingredients Market by Type (Prebiotics & Probiotics, Proteins & Amino Acids, Minerals, Vitamins, Carotenoids), Application (Functional Food, Dietary Supplements, Animal Nutrition), Form, Health Benefit, and Region - Global Forecast to 2023", published by MarketsandMarkets™.  It contains This report marketing and development strategies, along with the product portfolios of leading companies such as Cargill (US), BASF (Germany), ADM (US), Associated British Foods (UK), DSM (Netherlands), DowDuPont (US), Ingredion (US), Arla Foods (Denmark), Tate & Lyle (UK), and Ajinomoto (Japan).