(I-BusinessNews.Com, February 24, 2020 ) The report “Nutraceutical Ingredients Market by Type (Probiotics, Proteins & Amino Acids, Phytochemicals & Plant Extracts, Fibers & Specialty Carbohydrates), Application (Food, Beverages, Animal Nutrition, Dietary Supplements), Form and Region – Global forecast 2025″, is projected to grow from USD 152.0 billion in 2019 to USD 228.0 billion by 2025, recording a compound annual growth rate (CAGR) of 7% during the forecast period. The major factors driving the growth of the nutraceutical ingredients market include increasing consumer demand for fortified food & beverages, rising incidences of chronic lifestyle diseases, and mandates on food fortification by government organizations due to inadequate levels of vitamins and minerals in the human body.
Browse 87 market data Tables and 49 Figures spread through 199 Pages and in-depth TOC on “Nutraceutical Ingredients Market – Global forecast 2025”.
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Market Dynamics
Growth in the Demand for Fortified Food Owing to the Increasing Health Consciousness Amongst Consumers
In recent years, most countries have recognized lifestyle-related diseases to be a major problem. This has resulted in an increasing consumer consciousness toward healthy food products, in turn, fueling the market for nutritive products. The rising aging population, increased life expectancy rates, and increasing instances of chronic diseases have further been driving changes in eating patterns. Fortified food products have been one of the fastest-growing health and wellness food & beverage categories worldwide, followed by naturally healthy and organic food products. According to the International Food Information Council (IFIC), milk formula, energy drinks, probiotic yogurt, juice drinks, sports drinks, cereals, and biscuits were among the top-performing functional global health and wellness food categories in 2013. Consumers today do not perceive food products just as a means to combat hunger, but also to provide essential nutrients to the body, to be able to prevent nutrition deficiency and also improve physical & mental well-being. According to a survey conducted by the International Food Information Council (IFIC), in 2009, 87% and in 2011, 89% of the consumers in the US agreed that certain foods have health benefits beyond their basic nutrition.
Increasing incidences of chronic diseases
According to the WHO, by 2020, chronic diseases will account for almost three-quarters of all deaths worldwide, and that 71% of deaths due to ischemic heart disease (IHD), 75% of deaths due to stroke, and 70% of deaths due to diabetes will occur in developing countries. The number of people in the developing world with diabetes will increase by more than 2.5-fold, from 84 million in 1995 to 228 million by 2025. On a global basis, 60% of the burden of chronic diseases will occur in developing countries. Globally, there is a significant rise in the population suffering from chronic ailments, such as obesity, diabetes, blood pressure, and cardiovascular diseases. This has led to people becoming more conscious of their eating patterns. The link between diet and health is significant, and people are opting for healthier food. Consumers are also looking for options that provide the right combination of nutrition and taste. Fortified food ingredients cater to this pressing need by providing food formulators with ingredients offering specific functionalities and healthier alternatives. Hence, the entire health and wellness movement strengthens the demand for nutraceutical ingredients.
Product-Based and Technological Innovations in the Nutraceutical Ingredients Industry
Personalized healthcare technologies are being rapidly adopted by various nutraceutical ingredient manufacturers to formulate better-suited and customized end products for consumers. Consumer product companies are now increasingly collecting data to enable a proper analysis of purchasing behaviour and lifestyle to provide consumers with tailored options in accordance with their purchasing patterns. Epigenetics and nutrigenomics have identified that every individual has different nutritional requirements, and they respond to food in different ways. This provides a huge market opportunity for nutraceutical end-product manufacturers, whereby, linking a diet to a genome not only results in boosting health, but also reduces the chance of developing adverse health conditions, such as cardiovascular diseases, obesity, diabetes, or inflammatory bowel diseases. Such corroborated usage of technology with a dietary design is further expected to present unforeseen market growth opportunities for nutraceutical ingredient manufacturers.
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The Asia Pacific is projected to be the fastest-growing region in the nutraceutical ingredients market during the forecast period.
The Asia Pacific is projected to be the fastest-growing region in the nutraceutical ingredients market during the forecast period. The market in the region is driven by rising incomes, increasing purchasing power, and surge in consumer demand for nutritional and healthy products. Further, busy lifestyles have encouraged the consumption of convenience health food products, which is projected to drive the demand in this region.
Major vendors in the nutraceutical ingredients market include Cargill (US), BASF (Germany), ADM (US), Omega Protein Corporation (US), DSM (Netherlands), Ingredion (US), Arla Foods (Denmark), Tate & Lyle (UK), Ajinomoto (Japan), DowDuPont (US), Chr. Hansen (Denmark), Kyowa (Japan), Glanbia (Ireland), Fonterra (New Zealand), Associated British Foods (UK), Sigma-Aldrich (US), and Evonik (Germany).
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