Global Nutraceutical Ingredients Market was valued at US$ 160 Billion in 2020
A comprehensive overview of the Nutraceutical Ingredients market is recently added by UnivDatos Market Insights to its humongous database. The Nutraceutical Ingredients report has been aggregated by collecting informative data of various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the Nutraceutical Ingredients market. Nutraceutical Ingredients report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates Nutraceutical Ingredients at the global and regional levels. Global Nutraceutical Ingredients Market was valued at US$ 160 Billion in 2020 and is anticipated to reach US$ 227 billion by 2027 displaying an elevated CAGR of 7% over the forecast period (2021-2027).
Market Overview
Nutraceuticals are essential food constituents that provide nutritional benefits as well as medicinal effects. The benefits of these foods are due to the presence of active compounds such as carotenoids, collagen hydrolysate, and dietary fibers. Nutraceuticals have been found to positively affect cardiovascular and immune system health and have a role in infection and cancer prevention.
A rise in the aging population coupled with the need for a nutritious diet has led to changes in eating patterns. Consumers’ concerns regarding nutrient inadequacy tend to be general, rather than concern about a specific health condition or nutrient/component in their diet. As per the World Health Organization, 1.9 billion adults are overweight or obese, while 462 million are underweight. Moreover, globally in 2020, 149 million children under 5 were estimated to be stunted (too short for age), 45 million were estimated to be wasted (too thin for height), and 38.9 million were overweight or obese.
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COVID-19 Impact
The COVID-19 pandemic adversely impacted all the industries due to the disruptions in the supply chain, shortage of raw materials, and reduced per capita spending. But consumers were increasingly inclined towards the consumption of the nutrition enriched health food options as nutrient supplements were prescribed to patients who have survived extreme illness, such as severe Covid-19, or were in ICU. As per a survey by Pronto Consult, a firm that specializes in doctor perception studies and pharma market insights in India and the Middle East, found that out of 7,000 bills for medical purchases that were reviewed for February, around 20% or 1,400 bills, showed the purchase of protein supplements.
The Nutraceutical Ingredients Market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
By Type, the market is primarily bifurcated into
• Prebiotics
• Probiotics
• Amino Acids & Proteins
• Omega-3 Fatty Acids
• Vitamins
• Minerals
• Carotenoids
• Plant Extracts & Phytochemical
• Specialty Carbohydrates & Fibers
• Others (Chondroitin, Glucosamine, and Polyols)
The probiotics segment gathered a major market share of the Nutraceutical Ingredients in 2020 and grabbed X% market share. The market of this segment is expected to witness robust growth due to the growing number of patients with a digestive disorders. As per CDC, Each year 62 million Americans are diagnosed with a digestive disorder. The incidence and prevalence of most digestive diseases increase with age.
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By Form, the market is primarily bifurcated into
• Dry
• Liquid
The dry segment grabbed the major market share and dominated the market in 2020. The key factors attributed to the growing share of this segment are the Rising prevalence of diseases related to vitamin and mineral deficiency is leading to the growing demand for nutraceutical ingredients. As per the Centers for Disease Control and Prevention, at least 50% of children worldwide younger than 5 years of age suffer from vitamin and mineral deficiencies.
By Application, the market is primarily bifurcated into
• Food
• Beverages
• Personal Care
• Animal Nutrition
• Dietary Supplements
• Others
The dietary supplements segment grabbed a considerable market share in 2020 and grabbed X% market share. Moreover, the market of this segment is expected to witness robust growth in the forecast period to reach a market valuation of USD X MN by 2027.
Nutraceutical Ingredients Market Geographical Segmentation Includes:
· North America
· Europe
· Asia-Pacific
· Rest of the World
Based on the estimation, the North America region grabbed a major market share in 2020. The demand for Nutraceutical Ingredients in North America is on the rise on account of the rising consumer awareness about the nutrient's insufficiency due to improper food consumption, an emerging number of malnutrition suffered people, etc., However, the Asia-Pacific region is expected to witness an exponential CAGR in the forthcoming years.
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The major players targeting the market includes
• Cargill Incorporated
• Associated British Foods
• Arla Foods
• Kerry Group
• Chr. Hansen
• Kyowa Hakko
• DSM
• Ingredion Incorporated
• Tate & Lyle PLC
• Ajinomoto Co., Inc
Competitive Landscape
The degree of competition among prominent regional companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Nutraceutical Ingredients Market. The leading players have been analyzed by using research methodologies for getting insight views on global competition.
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Key questions resolved through this analytical market research report include:
· What are the latest trends, new patterns, and technological advancements in the Nutraceutical Ingredients Market?
· Which factors are influencing the Nutraceutical Ingredients Market over the forecast period?
· What are the global challenges, threats, and risks in the Nutraceutical Ingredients Market?
· Which factors are propelling and restraining the Nutraceutical Ingredients Market?
· What are the demanding global regions of the Nutraceutical Ingredients Market?
· What will be the global market size in the upcoming years?
· What are the crucial market acquisition strategies and policies applied by global companies?
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