(PRWEB) April 02, 2014
According to the report “Nutraceutical Ingredients Market by Type & Application - 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.
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Nutraceutical ingredients market is an emerging sector with various stake holders such as raw material suppliers, processors, product manufacturers and end-use consumers. The product includes functional food, beverages, dietary supplements, animal nutrition and personal care. The nutraceutical product and ingredients market are inter-dependent on each other as any shift in one will have a direct impact on the other. Growing awareness and reliability on the nutraceutical products is offering a strong consumer base for the market. Nutraceutical ingredients are essential for various health purposes and prevent chronic diseases that may occur due to lack of required nutrients in the body.
Fibers & specialty carbohydrates: Most widely used ingredient; phytochemicals & plant extracts are expected to experience promising growth in future
The major nutraceutical ingredients include Prebiotics, Probiotics, Amino acids, peptides & proteins, omega 3 & structured lipids, phytochemicals & plant extracts, Minerals, Vitamins, Fibers & specialty carbohydrates, carotenoids & antioxidants. These ingredients are obtained from the various plant sources, suppliers, poultry farms etc and are served in the form of functional food, beverages, personal care products and supplements to the consumers. With changing lifestyles, consumers are tilted towards healthy diet and are more concerned about the consumption of healthy nutrients due to fear of deficiency and chronic diseases. Therefore, the market for these ingredients is getting a push and is served with wide opportunities.
Asia-pacific: Dominant market for nutraceutical ingredients
On the whole, the market for Asia-pacific is a dominant one with highest growth rate and share. The market holds the power because of ever growing population and urbanization in various developing nations of the region. The market for Asia-Pacific is expected to experience growth of 7.4% from 2013 to 2018. The four most potential nations for nutraceutical ingredients industry are India, China, Brazil and Russia.
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 2013 to 2018.
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