The nutraceutical ingredients market encompasses bioactive compounds that provide health benefits beyond basic nutrition. These ingredients are used in functional foods, beverages, dietary supplements, and personal care products. The global nutraceutical ingredients market size valued at USD 105.2 billion in 2024, showcases a remarkable growth projection, anticipated to escalate to USD 136.1 billion by 2029, indicating a robust compound annual growth rate (CAGR) of 5.3% during the forecast period.
The Rising Demand for Nutraceuticals: How Preventive
Healthcare is Shaping Consumer Choices
Growing awareness and emphasis on preventive healthcare
among consumers have contributed hugely to the demand for dietary supplements
and functional foods fortified with nutraceutical ingredients. Additionally,
scientific research is also playing an extremely important role as numerous
studies have pointed out possible health benefits of nutraceutical
ingredients and attributed them to disease prevention and management.
An extensive review conducted in 2021, for example, combined the results of
seven different studies involving 491 adults in India. In these studies, the
effects of six to eight weeks of ashwagandha extracts on stress and anxiety
were compared to placebos. Additional studies involving 250 adults in the US
and India confirmed the significant reduction in stress and anxiety reported by
participants who received ashwagandha. Moreover, ashwagandha extracts made from
its leaves that contain substances like triethylene glycol have been linked to
improved sleep in mice. This effect is assumed to be brought about by altering
the brain’s GABA receptors, which control the activity of nerve cells linked to
both relaxation and stress. Such studies not only validates traditional claims
but also builds up consumer confidence and acceptance of these nutraceutical
ingredients.
Request
Custom Data to Address your Specific Business Needs
Social media’s influence has also helped raise people’s
interest in and knowledge of these ingredients. Social media platforms such as
Youtube and Instagram facilitate the rapid sharing of personal testimonials and
health trends, which shapes consumer preference. Celebrities and influencers
often flaunt products containing nutraceutical ingredients, further boosting
the popularity of these ingredients. Furthermore, regulatory support and
improvements in extraction technologies have made the production process more
accessible and affordable for manufacturing companies.
Key Nutraceutical
Ingredients Market Growth Drivers
- Rising
Health Consciousness: Consumers are becoming more health-conscious and
seeking products that offer added health benefits. This trend has boosted
the demand for nutraceutical ingredients in food and beverage products.
- Aging
Population: The global aging population is more prone to chronic
diseases and is seeking preventive healthcare solutions, leading to
increased consumption of nutraceutical products.
- Demand
for Functional Foods and Beverages: There is a growing trend of
incorporating nutraceutical ingredients into functional foods and
beverages, providing added value and health benefits.
- Increase
in Chronic Diseases: The rise in lifestyle-related diseases such as
obesity, diabetes, and cardiovascular diseases has led to a greater focus
on preventive healthcare, boosting the nutraceutical market.
- Technological
Advancements: Innovations in extraction and formulation technologies
have enhanced the bioavailability and efficacy of nutraceutical
ingredients, driving market growth.
The Dominance of Food Applications in the Nutraceutical
Ingredients Industry
Since more people are becoming aware of the positive impacts
of these nutraceutical ingredients to their physical and mental well-being,
consumer preferences are shifting more and more in favour of functional foods
enhanced with nutraceutical ingredients. An article published in November 2023
in Food Navigator Asia claims that the idea of “punk nutrition” in China is a
prime example of this trend, where consumers are willing to spend money on
health-supporting products even in the face of stressful work environments.
This includes splurging on nutrient-dense foods like probiotic or prebiotic
biscuits and seasonal drinks with extra health benefits. This market segment is
very competitive, which encourages innovation in the direction of products with
distinctive value propositions and shelf presence.
Moreover, the food segment benefits from its widespread
appeal and integration into daily diets, making it accessible to a broader
consumer base compared to other applications. Manufacturers are tapping into
this trend by creating innovative food products tailored to specific health
needs, such as boosting immunity, improving digestion, and promoting
cardiovascular health. By focusing strategically on food fortification,
manufacturers are not only satisfying consumer demand for convenient health
solutions but also setting their products apart and increasing their market
competitiveness.
Europe
Nutraceutical Ingredients Market Set for Significant Growth
Increased public and private spending on preventive care
indicates that Europeans are becoming more aware of the importance of
preventive healthcare. For instance, the European Commission reports that
spending on preventive care increased to 6.0% of all health spending in the EU
in 2021 from 2.9% in 2019, indicating a shift in emphasis towards proactive
health maintenance.
Probiotics are a well-known category of nutraceutical
ingredients that are widely recognised and used throughout Europe, according to
the International Probiotics Association Europe. There is a high level of
awareness as even among those who do not take probiotics, 56% are familiar with
the term. One of the factors driving this adoption is the belief, held by
consumers and often reinforced by the advice of medical experts, that
probiotics improve general health and well-being. Significant portions of the
populations in Germany, Spain, and Italy have indicated that they regularly
consume probiotic foods and supplements, indicating a sizable market base.
According to a 2022 consumer survey by the International
Probiotics Association Europe, 41% of Italians, 38% of Germans, and 44% of
Spanish people are active consumers of either probiotic foods or supplements.
This trend is indicative of a broader trend in Europe towards using
nutraceutical ingredients to support overall health and well-being.
Proteins, By Type, Accounted for the Highest Nutraceutical
Ingredients Market Share
Proteins are important for human health in that they provide
for muscle-building purposes, repair of tissues, the production of enzymes, and
in the immune system. With such a high nutritional value, they are incorporated
into all kinds of products: food and beverages, dietary supplements, or animal
feed. According to an article by Glanbia PLC, Ireland, in December 2021, soy
and dairy headed global fortification volumes. This is because they are
cost-effective and available, making them nutritionally complete. From sports
nutrition to infant formulas, versatility underpins soy and dairy’s market
leadership. Furthermore, plant-based proteins such as pea and wheat further
pursue the demand for non-GMO and allergen-free options.
Top Nutraceutical
Ingredients Companies
- Cargill,
Incorporated (US)
- ADM
(US)
- International
Flavors & Fragrances Inc. (US)
- BASF
SE (Germany)
- Arla
Foods amba (Denmark)
- Associated
British Foods plc (UK
- Ingredion
(US)
- Tate
& Lyle (UK)
- Ajinomoto
Co., Inc. (Japan)
Make
an Inquiry to Address your Specific Business Needs
No comments:
Post a Comment