Nutraceutical products contain nutritional value, protein, fibers, amino acid, antioxidants, probiotics, which are consumed in the form of functional food, medicines, and personal care products. Nutraceutical products refer to items that can supplement the nutritional elements that are lacking and lost in the human body.
The essential nutrients in the nutraceutical products are vitamins, minerals, fiber, lactic acid bacteria, protein, lecithin, EPA, DHA, collagen, chondroitin, etc. Nutraceutical ingredients are the constituent elements of the human body and are indispensable nutrients for maintaining good health.
Global Nutraceutical Market projected to grow with a noteworthy rate over the estimated period, 2020-2027. The major driving forces of the Nutraceutical market are increasing chronic diseases, government reinforcement on food, consumers seeking alternatives to better health, nutritional drinks, and foods that help in maintaining their weight, diet, and digestive health. The demand for nutraceutical is rising due to its versatile nature, based on which it is used in various applications such as animal food, personal care, pharmaceuticals, and food and beverages.
Moreover, the improvement in people’s quality of life, more and more attention paid to daily dietary supplements. Dietary supplements occupy the absolute mainstream position among all nutritional health products. Along with the aging of the population, the related industries such as pension and medical care are booming. Additionally, nutrition and health products that improve sleep, laxatives, increase bone density, assist in lowering blood lipids, hangover, and protect liver function also have a significant growth in the nutraceutical market.
The nutraceutical market is growing due to the continuous improvement of per capita income level and the constant emphasis on nutrition and medical care, and health care products. Along with social progress and economic development, human beings are increasingly concerned about their health. At the same time, the regulatory system of the industry has changed. It has also fully released the market vitality, and the supply and demand for healthy food have been increasing.
Personal care sector demand has been increased due to organic ingredients present in cosmetics products. The female population considers beauty as a significant aspect to look young and fit. Owing to these factors, the demand for natural ingredients that are present in personal care products is rising as they have antioxidants, which help in reducing fine lines, blemishes, anti-aging, and pigmentation. Additionally, the natural extract like sandalwood, purple corn in beauty products helps in building the trust of the consumers and leads to emerging demand in the market. Therefore, it helps in creating a massive demand for personal care products demand in the global nutraceutical market.
About 70% of the consumer believe that along with nutrition, taste and flavor are more essential attributes in any food. Despite having the same formula label, different protein choices can result in products with different functions and tastes. Therefore, considering the final product, protein solutions specifically designed to meet the specific texture and flavor of nutrition, food, and beverages are customized according to the consumer requirement.
Based on Type, the global Nutraceuticals market classified into Probiotics, Proteins, Amino acids, Phytochemicals & Plant Extracts, and Fibers & Specialty Carbohydrates. The Probiotics segment expected to boost the demand in the forecast years from 2020-2027. Due to the growing demand for probiotics in the cosmetics industry to reduce anti-aging and restore the natural balance of the skin, and in the food and beverages industry, to improve gut function and improves the immunity.
Based on the Application, the global nutraceuticals market segmented into Food and Beverages, Animal Nutrition, Dietary supplements, and Animal Nutrition. The Dietary supplements segment is expected to boost during the forecast period owing to the changing needs of the consumer lifestyle and looking for a healthier substitute for protein and fiber and nutrients available in a balanced amount.
Based on geography, the global Nutraceutical market segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. The Asia Pacific has captured a significant share in 2019 and will witness to cater the largest share in forecast year. Due to this, more and more consumers are using high-protein products as an essential supplement to their diet to obtain a dual experience of taste and nutrition. The demand for neutracosmetics has also increased due to anti-aging concerns. Also, in developing economies like China and India, the demand for nutraceuticals has emerged due to their concerns towards natural ingredients present in the products like Neem Extract and purple corn used in cosmetics and medicines lead to an increase in the demand of the Asia Pacific Nutraceuticals market.
Companies such as Cargill, BASF, ADM, Omega Protein Corporation, DSM, Ingredion, Arla Foods, Tate & Lyle, Ajinomoto, DowDuPont, Chr. Hansen, Kyowa, Glanbia, Fonterra, Associated British Foods, Sigma-Aldrich, and Evonik are key prominent players in the global nutraceuticals Market.