According to the current analysis of Reports and Data, the globalNutraceutical Ingredients Marketwas valued at USD 164.3 billion in 2019 and is expected to reach USD 266.9 billion by the year 2027, at a CAGR of 6.8%. Nutraceutical ingredients are derived from sources such as animal, plant, microbial, and synthetic, which provide health benefits, adding the primary nutritional value and functional benefits to various applications such as food, beverages,dietary supplements, animal nutrition, and personal care products. The industry comprises two principal segments: functional foods and nutritional supplements.
The growth of the industry is attributed to the growing consumer demand for fortified food beverages, the increasing number of incidences of chronic diseases, and mandates on food fortification by government organizations due to inadequate levels of vitamins and minerals in the human body. The growth of the market is restricted due to higher costs of fortified products and different regulatory frameworks in different countries for nutraceutical ingredients; however, the high raw material production cost for nutraceuticals product may limit the consumers to avail its features. Consumers are likely to have better options to switch for low-cost alternative proteins. Limited quality nutraceutical manufacturing has increased the need to fill demand and supply gap. Also, the product supply through the lab-to-market pipeline is generally time-consuming. Increased competition in the market, lack of awareness, and advertisement about product benefits may prove to be hindrances to the market growth.
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Competitive Landscape:
The research report offers details about leading companies in the global Nutraceutical Ingredients market along with global position, financial standing, license agreement, products and services portfolio and revenue contribution of each market player. Key players in the market are focusing on adopting various strategies such as mergers and acquisition, business expansion plans, new product launches, partnerships, collaborations, joint ventures to enhance their product base and gain robust footing in the market.
Some of the Leading Market Players Are Listed Below:
- Cargill (US),
- BASF (Germany),
- ADM (US),
- Omega Protein Corporation (US),
- DSM (Netherlands),
- Ingredion (US),
- Arla Foods (Denmark),
- Tate Lyle (UK),
- Ajinomoto (Japan),
- DowDuPont (US)
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Nutraceutical Ingredients Market Segmentation based on Types:
- Probiotics
- Proteins Amino Acids
- Phytochemicals Plant Extracts
- Fibers Specialty Carbohydrates
- Omega 3 fatty acids
- Vitamins
- Prebiotic
- Carotenoids
- Minerals
- Others
Nutraceutical Ingredients Market Segmentation based on Application:
- Food
- Snacks
- Confectionary
- Dairy
- Bakery
- Meat and meat products
- Baby food
- Others
- Beverages
- Energy drinks
- Juices
- Health drinks
- Personal care
- Animal Nutrition
- Dietary Supplements
Nutraceutical Ingredients Market Segmentation based on Regions:
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., France, Italy, Spain, Benelux, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
- Latin America (Brazil, Rest of Latin America)
- Middle East Africa (Saudi Arabia, UAE, South Africa, Rest of Middle East Africa)
Key Features of the global Nutraceutical Ingredients Market:
- The report offers detailed estimations at the regional level with manufacturers, consumption, sales and import/export dynamics.
- The report provides accurate details related of the manufacturers/vendors in the market, company overview, pricing analysis, financial standing, product portfolio, and gross profit of leading companies.
- Company profiling with prevalent expansion strategies, revenue generation, and recent developments.
- Optimum strategic initiatives for new players in the market.
- Manufacturing processes, suppliers, cost, rates of production and consumption, transport mode and cost structuring, and value chain analysis.
- The study also includes supply chain trends, including elaborate descriptions of the latest technological development
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