CHICAGO, May 7, 2019 /PRNewswire/ -- According to the new market research 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", published by MarketsandMarkets™, the Nutraceutical Ingredients Market 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.
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The personal care segment is projected to be the fastest-growing segment in the nutraceutical ingredients market during the forecast period.
The nutraceutical ingredients market is segmented, on the basis of application, into food, animal nutrition, dietary supplements, personal care, and beverages. The personal care segment is projected to be the fastest-growing segment in the nutraceutical ingredients market during the forecast period. This is attributed to the changing consumer lifestyles, increasing inclination towards personal grooming, and the rise in per capita income, particularly in developing regions.
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198 – Pages
The probiotics segment is projected to account for the largest market share in the nutraceutical ingredients market during the forecast period.
The nutraceutical ingredients market is segmented, on the basis of type, into probiotics, proteins & amino acids, phytochemicals & plant extracts, fibers & specialty carbohydrates, omega-3 fatty acids, vitamins, prebiotics, carotenoids, minerals, and others. The probiotics segment is projected to be a leading segment in the nutraceutical ingredients market. This is attributed to the health benefits associated with probiotic-based functional foods and the participation of international organizations in the R&D approvals. Further, the increasing use of probiotics in feed to promote gut function and overall immunity of livestock is projected to drive its demand in the coming years.
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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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