Nutraceutical Ingredients Market Size to Reach USD 277.46 Billion in 2028 | Increasing Need to Enhance the Nutritional Value of Products with High-Quality Food and Supplement Ingredients is Driving Industry Growth, says Emergen Research

VANCOUVER, BC, March 24, 2022 /PRNewswire/ -- The global nutraceutical ingredients market is expected to reach a market size of USD 277.46 Billion in 2028 and register a CAGR of 6.8% over the forecast period, according to latest analysis by Emergen Research. This growth can be attributed to the increasing need to enhance the nutritional value of products with high-quality food and supplement ingredients. Increasing awareness among consumers regarding nutritional enrichment is driving growth of nutraceutical ingredients market. Increasing demand for natural immunity-boosting products has resulted in the increasing demand for nutraceutical ingredients. Increasing demand for functional food owing to the health benefits provided by them has helped in the market growth.

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Increasing investments of nutraceutical manufacturers for the advancement of nutraceutical ingredients and products is expected to boost the market growth. Availability of raw materials in developing countries such as India is supporting the development of the market in those countries. Growing awareness programs regarding the benefits of nutraceutical ingredients by the government and private stakeholders are key factors supporting the growing demand for the products. Increasing consumer preferences toward naturally derived nutraceutical ingredients consisting of herbal and botanical extracts are expected to boost market growth.

Major companies in the nutraceutical ingredients market include

Associated British Foods plc, Arla Foods, DSM, Ingredion Incorporated, Tate & Lyle, Ajinomoto Co., Inc., Chr Hansen Holding A/S, Glanbia plc, Cargill, Inc. and Archer-Daniels-Midland Company.

Some Key Highlights in the Report 

• In June 2020, Cargill launched PlantEver, which is a new plant-based protein brand for consumers in China. The product is offering two-plant based products as alternative for beef patty and a chicken nugget alternative. The products are expected to meet the growing demand for nutritious and great tasting alternative protein options among consumers in China.
• Dry segment accounted for largest revenue share in 2020. Increasing need to preserve the color and flavor of food & beverage products is driving the utilization of dry forms of nutraceutical ingredients in the food & beverage industries.
• Probiotic segment revenue is expected to register a rapid CAGR during the forecast period. Consumption of probiotic yogurts and yogurt drinks is considered beneficial as they address health problems, such as irritable bowel syndrome, digestive disorders, bowel cancer, or stomach allergies, which is driving growth of probiotics.
• Food segment accounted for a significantly large revenue share in the nutraceutical ingredients market in 2020. Increasing need to enhance the nutritional value of food products is projected to boost the utilization of nutraceutical ingredients in food industries during the forecast period.
• Asia Pacific accounted for largest revenue share contribution to global nutraceutical ingredients market in 2020. Increasing cost of hospitalization in the region has resulted in consumers looking for cost-effective alternatives such as health supplements and nutraceuticals as there is a shift from curative to preventive, which is expected to boost the market growth in the region.

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Emergen Research has segmented global nutraceutical ingredients market on the basis of form, type, application, and region:

• Form Outlook (Revenue, USD Billion; 2018–2028)
• Liquid
• Dry
• Type Outlook (Revenue, USD Billion; 2018–2028)
• Proteins and Amino Acids
• Probiotic
• Prebiotic
• Vitamins
• Minerals
• Carotenoids
• Phytochemical & Plant Extracts
• Omega 3 Fatty Acids
• Fibers & Specialty Carbohydrates
• Others
• Application Outlook (Revenue, USD Billion; 2018–2028)
• Beverages
• Food
• Animal nutrition
• Personal Care
• Dietary Supplements

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• Regional Outlook (Revenue, USD Billion; 2018–2028)
• North America
  a. US
  b. Canada
  c. Mexico
• Europe
  a. Germany
  b. UK
  c. France
  d. Italy
  e. Spain
  f. Denmark
  g. Ireland
  h. BENELUX
  i. Rest of Europe
• Asia Pacific
  a. China
  b. India
  c. Japan
  d. South Korea
  e. Australia
  f. Rest of APAC
• Latin America
  a. Brazil
  b. Rest of LATAM
• Middle East & Africa
  a. Saudi Arabia
  b. UAE
  c. South Africa
  d. Rest of MEA

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SOURCE Emergen Research