The Nutraceutical Ingredients Market is s steadily expanding, encouraged by a growing need for functional meals and supplements as well as a emphasize the importance of health awareness. The aging population, increased awareness of chronic ailments, and advancements in extraction technology are some of the factors driving this rise. Innovative ingredients and sustainable sourcing procedures are gaining traction in the market, signaling the potential for a healthier future.
It is estimated that the market for nutritious components would reach US$ 118.99 billion by 2033, up from US$ 53.61 billion in 2023. The probiotics nutraceutical product type is predicted to hold the biggest market share in terms of value in the nutraceutical ingredient market for the duration of the forecast period.
The demand for functional food components is increasing
It is anticipated that within the projected time frame, the government’s heightened focus on combating undernutrition and hunger in emerging nations will encourage the market expansion for nutraceutical ingredients. The growing recognition in both the public and private sectors of the benefits of nutraceutical components is one of the main factors driving the increase in demand for the products.
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The main forces behind industry growth include innovation, sufficient funding, regulatory support through the adoption of conductive policies, and tax incentives. The market for nutraceutical ingredients is changing in emerging nations due to the rising need for vitamins, minerals, and functional meals and drinks. The market for nutraceutical components is growing as health-conscious customers choose to prioritize preventative care above curative ones.
The market for nutraceutical ingredients is growing as a result of consumer interest in nutraceuticals and health supplements being impacted by rising hospitalization costs, as well as increasing knowledge of preventive care and information availability. Rising vitamin deficiencies among the expanding population as a result of consumers’ busy lifestyles and shorter mealtimes is another reason driving the growth of nutraceutical components.
The market for nutraceutical ingredients is rising due to the increased desire to use premium food and supplement components to improve the nutritional value of products. Increased consumer inclinations towards naturally derived nutraceutical ingredients, such as extracts from herbs and plants, would probably facilitate market growth. Natural nutraceutical ingredients are expected to become more in demand worldwide due to the rising trend of self-treatment and the increasing popularity of homoeopathic treatments.
Key Points from the Nutraceutical Ingredients Market
- The market is expected to surpass US$ 118.99 billion by 2033.
- An increase in the prevalence of chronic diseases.
- Demand for nutraceutical items such as power gummies, which are chewable nutritional supplements with a variety of health advantages, is projected to be driven by innovation and new product development.
- Nutraceutical ingredients market is expected to grow at a CAGR of 8.3% during the forecast period 2023 to 2033.
- Asia Pacific dominated the nutraceutical ingredients market.
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Key Development in the Nutraceutical Ingredients Market
- June 2022 – DSM announced the acquisition of Prodap, a firm that provides animal nutrition, services, and technology. This acquisition adds to DSM’s extensive animal feeding knowledge and services. Specifically, for the company’s existing Verax animal management system and Sustell intelligent sustainability services. The acquisition also broadens the company’s market presence in Brazil.
- November 2020 – Ingredion signed a deal to purchase the remaining portion of Verdient Foods Inc. that it did not already own. With this acquisition, Ingredion be able to accelerate net sales growth, expand manufacturing capability, and co-create customers to meet rising consumer demand for plant-based protein.
- May 2022 – Tate & Lyle announced the completion of its acquisition of Nutriati, an ingredient technology firm that produces chickpea protein and flour. They previously had a distribution arrangement in 2021 with whom they previously had a supply of chickpea protein and flour. This transaction also includes Nutriati’s assets, intellectual property, and liabilities. This purchase expands the company’s ingredient portfolio.
- December 2022 – Neutralities, a startup brand owned by Pune-based Shover Foods International, India, increased its product line with a move into nutraceuticals. Nutraceutical products have been developed to support good health and immunity. According to the company, it chose to launch its products in capsule form because gummy supplements include less vitamins and minerals. Furthermore, the company says that the components are vegan, sugar-free, and have been authorized by India’s Food Safety and Standards Authority (FSSAI).
- November 2021 – Archi Med purchased SUANFARMA, a key manufacturer and distributor of active nutraceutical components and pharmaceuticals, to outsource important products abroad, boosting sales and profits.
Key players:
- BASF SE
- ADM
- Ingredion
- DSM NV
- Cargill
- Tate & Lyle
- Ajinomoto
- Roquette Freres
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Key Segments
by Product:
- Probiotics
- Prebiotics
- Vitamins
- Amino acids
- Carotenoids
- Phytochemicals & plant extracts
- Protein
- EPA/DHA
- Minerals
- fiber & carbohydrates
by Form:
- Dry Form
- Liquid Form
by Application:
- Functional food
- Functional beverages
- Dietary supplements
- Personal care
- Animal Nutrition
by Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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