Nutraceutical Ingredients Market Projected to Reach $33.6 Billion by 2018 - New Report by MarketsandMarkets
(PRWEB) December 10, 2014 -- According to the report “Nutraceutical Ingredients Market by Type (Probiotics, Proteins, Plant Extracts, Minerals, Vitamins, Fibers, Carotenoids & Others) by Application (Functional Foods & Beverages, Supplements, Animal Nutrition, Personal Care) - Global Trends & Forecasts to 2018”, the nutraceutical ingredient market is estimated to grow from $23.8 Billion in 2013 to $33.6 Billion in 2018 with a CAGR of 7.2% from 2013 to 2018.
Browse 131 market data tables and 35 figures spread through 312 pages and in-depth TOC on “Nutraceutical Ingredients Market."
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Nutraceutical ingredient industry is an emerging one with growing health concerns of people, and awareness regarding the availability of nutraceutical products that helps to prevent various chronic diseases. The developing nations such as China, India, Russia, Mexico, Brazil etc are the major participants in the growth of nutraceutical ingredient market. As the economy of these countries is flourishing, the disposable income of people is expected to increase more in future and the growing health awareness is adding to spend towards health products. Balanced diet, weight management activities etc are rolling up as a part of routine for the upcoming generation. This factor is influencing the market for nutraceutical products which is directly having a positive impact on the ingredient market.
Another factor affecting the ingredient market is the reluctance towards intake of medicines. If the medicine is served in the form of food or as food supplement, the perception of medication gets away from the minds of people. Therefore, they prefer having food that promotes heath benefits rather than the medicines. This factor gives a direction to the nutraceutical ingredient market as application in the field of food and beverages seems to get encouragement. Hence, the scope for application is broadened.
The report also throws light on many restraining factors and opportunities for nutraceutical ingredient industry. The major types that have been taken into consideration are Prebiotics, Probiotics, Amino Acids, peptides & Proteins, Omega 3 & structured lipids, Phytochemicals & plant extracts, Minerals, Vitamins, Fibers & specialty carbohydrates, Carotenoids & Antioxidants and Others. Fibers & specialty carbohydrates are expected to capture the highest market share with plant extracts & phytochemicals experiencing the highest growth rate in future. The major applications of includes functional food, functional beverages, dietary supplements, animal nutrition and personal care.
The agenda of the analyst briefing is to discuss various qualitative factors such as market drivers, restraints, opportunities, winning imperative and degree of competition in the market.
Dietary supplements hold the largest market share whereas functional beverages expected to grow with highest rate. Dietary supplements form the major application of nutraceutical ingredients as earlier the nutraceutical were served as pharmaceutical products. Hence, the majority of ingredients were served in the form of tablets, capsules, etc. In most of the nations, people are not aware of concept of functional food and beverages. However, the concept is getting familiar with growth and development in the economy. The market for dietary supplements is expected to reach $13.0 billion by 2018 whereas functional beverages is expected to experience the highest growth rate of 7.4% from 2018.
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