According to a new research report by Global Market Insights Inc., the global Nutraceutical Ingredients Market size is expected to exceed USD 75.10 billion by 2028. The significant growth of fiber-rich products along with high nutritional supplement products is boosting the market growth. The increasing prevalence of gastrointestinal diseases, lifestyle diseases, and rising personal care spending will prompt the need for dietetic nutrition.
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Vitamin products market reached USD 7.55 billion in 2021. High consumption of vitamins by aging populations along with increase in intake vitamin supplements on a regular basis to ensure health & fitness is anticipated to propel business growth. Various health benefits of vitamins have shifted public interest towards consumption of vitamins and include them in their diet to avoid health issues.
As per market analysis, some key findings of the nutraceutical ingredients market report consist of:
- The amino acids product is projected to grow at a CAGR of over 7.5% over the forecast timeframe owing to multiple uses of amino acids in industries, such as animal feed and dietary supplement and foods & beverages.
- The personal care application is predicted to surpass USD 8.80 billion by the end of 2028 owing to increasing demand for natural, organic & chemical-free ingredients in the personal care segment.
- The liquid form is predicted to surpass USD 22.10 billion by the end of 2028 due to its simple as well as cost-effective manufacturing techniques.
- Major players in the nutraceutical ingredients market are focused on implementing strategic initiatives such as expansion and acquisition to cater the rising demand for nutraceutical ingredients across the globe.
The dry form of nutraceutical ingredients market is anticipated to witness a growth of over 6.5% in the forecasted period. In dietary supplements, nutraceuticals are offered in powder, capsule, and tablet forms. Tablets & capsules have a long shelf life & stability and are cost-effective, drive their demand. The dry form of nutraceutical ingredients is easy to manufacture and has low transportation & storage costs. The increased demand for nutraceuticals supplements is propelling dry form market growth.
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Europe nutraceutical ingredients market reached USD 12.45 billion in 2021. Highly educated & well-off European population is driving the demand for healthy products. The high influence of sports in European population is driving supplements and functional food & beverage market growth. Nutraceuticals are becoming an important part of European lifestyle due to the increasing prevalence of lifestyle diseases and consumer behaviour shift from reactive to preventive healthcare.
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Nutraceutical Ingredients Market
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Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider. Offering syndicated and custom research reports, growth consulting and business intelligence services, Global Market Insights, Inc. aims to help clients with penetrative insights and actionable market data that aid in strategic decision making.
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