Axiom MRC has updated all it's market research reports with the Economic Impact Analysis of COVID19 Pandemic on the market. Our team of analyst are following Comprehensive Three Dimensional (3D) Research Methodology along with large number primary interviews with key industry participants to bring insightful market reports to meet the current market requirements.
Nutraceutical is a term used for refreshed foods which is obtained from food sources that not only increase the diet but also delivers supplementary health advantages along with the essential nutritional value present in foods.
Nutraceutical ingredients are precise foods or drinks that propose health benefits because of the presence of active ingredients. Nutraceuticals enhance health, delay the aging process, avert chronic diseases, rise the life expectancy, and assist the structure or function of the body. Health benefits achieved by the nutraceutical ingredients are much more obliging than the simple nutritional food products offer. These health advantages are associated to physiological or mental, dipping the risk of chronic diseases other than delivering basic nutritional functions, promoting growth, and improving the performance of body.
Rising occurrence of severe diseases is likely to accelerate the global nutraceutical ingredients market. Fundamental characteristics comprising deterrence from hardening of heart arteries and cholesterol, blood clotting & inflammation reduction will fuel the market. Rising concern about longer life span and latent application scope in animal nutrition and food & beverage industry is anticipated to push the product demand.
Shifting consumer preferences & demographics together with increasing R&D activity is projected to drive nutraceutical ingredients market. Increasing geriatric & obese population, type 2 diabetes patients & expenses associated to health & personal care will further offer lucrative opportunities for the market.
The study analyses Global Nutraceutical Ingredients market based on type, application and geography.
The various types of nutraceutical ingredients include probiotics, proteins & amino acids, phytochemical & plant extracts, fibers & specialty carbohydrates, omega-3 fatty acids, vitamins, prebiotic, carotenoids, minerals. Probiotics, when consumed in adequate amounts, have necessary effects on the human body such as enhanced gut health and condensed intestinal inflammation. Probiotics play a vital role in preventive healthcare as they prevent the occurrence of diseases by strengthening the immune system. Thus, rising awareness regarding preventive healthcare is expected to benefit the overall market growth over the forecast period.
Similarly, the major aspects fueling the growth of global omega-3 fatty acid market include growing demand of omega-3 polyunsaturated fatty acids in pharmaceuticals and functional foods, rising awareness towards healthcare and chronic diseases, and expanding application profiling of omega-3. Several pharmaceutical companies have already been using higher concentrations of omega-3 in pharmaceutical drugs, and in future, more companies are expected to enter the market of omega-3 drugs.
Moreover, nutraceutical ingredients find applications in functional foods, functional beverages, dietary supplements, animal nutrition, personal care etc. Functional beverage industry is the largest functional food sector. It is also the fastest growing market in the food sector. This high demand toward functional beverages is the results of convenient content, size, shape, and appearance of the containers, as well as ease of distribution and storage conditions for the refrigerated and shelf-stable products thus increasing the demand for nutraceuticals in functional beverages industry.
Geographically, the study is comprised of the key countries of North America, Europe, Asia-Pacific and Rest of the World. Asia-Pacific region is likely to dominate the market holding majority of the share and the highest growth rate projected in the forecast period. Consumer preferences for functional foods and beverages has been one of the decisive factors accelerating the growth of the market in this region. Developing nations like India, China, etc. are anticipated to record high growth for the market over the forecast period. The economy is projected to improve in the coming years in regions with an increase in disposable income and this would boost the market, as people tend to spend a good amount of their income on health-related aspects. The population growth rate in the Oceania nations such as Australia and New-Zealand is not very high.
The key competitors of this market include Cargill, DuPont, Kerry Group, BASF SE, ADM, Associated British Foods PLC, DSM N.V., Ingredion Inc., Arla Foods, Tate & Lyle PLC, Ajinomoto Inc., Mead Johnson Nutrition Company, Kraft Heinz Company, PepsiCo., GlaxoSmithKline and among others.
The study analyses Global Nutraceutical Ingredients market based on type, application and geography. The various types of nutraceutical ingredients include probiotics, proteins & amino acids, phytochemical & plant extracts, fibers & specialty carbohydrates, omega-3 fatty acids, vitamins, prebiotic, carotenoids, minerals. Moreover, nutraceutical ingredients find applications in functional foods, functional beverages, dietary supplements, animal nutrition, personal care etc. Geographically, the study is comprised of the key countries of North America, Europe, Asia-Pacific and Rest of the World. Asia-Pacific region is likely to dominate the market holding majority of the share and the highest growth rate projected in the forecast period.
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