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The growing popularity of probiotic dietary supplements among consumers has fueled the market's expansion for nutraceutical ingredients.
PORTLAND, OR, US, March 31, 2023 /einpresswire.com / -- Allied Market Research published a report, titled, "nutraceutical ingredients market by Type (Probiotics, Vitamins, Minerals, Proteins, Dietary Fibers, Others), by Form (Dry, Liquid), by Application (Dietary supplements, Functional Food and Beverage, Animal Nutrition, Others): Global Opportunity Analysis and Industry Forecast, 2022-2031." According to the report, the global nutraceutical ingredients industry generated $163.9 billion in 2021, and is estimated to reach $327.3 billion by 2031, witnessing a CAGR of 7.3% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.
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Growing customer preference for natural food products, increase in popularity of probiotic dietary supplements, rising concerns of consumers about preventative healthcare and the effectiveness of these substances on their health, increase in consumer preference for functional foods, and surge in incidence of chronic diseases among the population propel the growth of the global nutraceutical ingredients market. However, high cost of production of nutraceutical ingredients hinder the market growth.
Key Players Are:
The major players analyzed for global nutraceutical ingredients industry are Amway Corporation, AOR Inc., Archer Daniels Midland, Cargill Incorporated, Danone, EID Parry, General Mills, Herbalife International of America Inc., Innophos, Matsun Nutrition, Mead Johnson, Nestle SA, Natrol, Royal DSM, and Valensa International.
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By form, the nutraceutical ingredients market is divided into dry and liquid. The liquid segment is growing at a moderate rate during the forecast period. Ingredients for liquid nutraceuticals can be produced easily and affordably. Since they are easier to consume than dry products, liquid products are expected to grow more quickly in the near future. Manufacturing beverages, animal feed, and personal care products uses liquid form of substances because of their high compatibility with other ingredients. Personal care product demand is rising as a result of rising consumer disposable income, which will fuel segment growth for liquids over the forecast period.
Regional Outlook
Based on region, Asia-Pacific is anticipated to manifest the fastest CAGR of 8.1% during the forecast period, 2021-2031 due to the increased participation of major pharmaceutical and food and beverage manufacturers in the production of nutraceutical ingredients in the region. However, North America held the largest market share in 2021, accounting for around one-third of the global nutraceutical ingredients market, and is likely to lead the trail throughout the forecast period. This is due to the increasing demand for nutraceuticals with medicinal advantages in the region. The other regions discussed in the report are Europe and LAMEA.
Reason to Buy:
✅ Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the global Nutraceutical Ingredients Market.
✅ Highlights key business priorities in order to guide the companies to reform their business strategies and establish themselves in the wide geography.
✅ The key findings and recommendations highlight crucial progressive industry trends in the Nutraceutical Ingredients Market, thereby allowing players to develop effective long-term strategies in order to garner their market revenue.
✅ Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
✅ Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those restraining the growth to a certain extent.
✅ Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation, and industry verticals.
Inquiry Before Buying:
The nutraceutical ingredients market is analyzed based on type, form, application, and region. By type, the nutraceutical ingredients market is divided into probiotics, vitamins, minerals, proteins, dietary fibers, and others. Further, proteins segment is bifurcated into plant proteins and animal proteins. Among these, the probiotics segment occupied the major nutraceutical ingredients market share of the market in 2021, and is projected to maintain its dominance during the forecast period. Due to growing awareness of the health advantages of probiotics, the segment is predicted to maintain its notable growth pace.
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