Nutraeutical Ingredient Market Scope
Nutraceutical is defined as the substance which provides the nutritional value to the diet. It is widely used in the prevention and treatment of disease. Nutraceutical ingredient is widely used in functional food, functional beverages, dietary supplements, animal nutrition, personal care, among others. There is a huge demand for Nutraceutical ingredient, due to the increasing usage nutraceutical ingredient in personal care products. For instance, in 2015, according to The International Trade Administration, the total United States exports in personal care and cosmetics subsector totaled more than USD 10.4 billion. Hence, increasing usage nutraceutical ingredient in personal care products and the rising number of incidences of chronic diseases are some of the major factors which affect the growth of the market in the future.
According to AMA, the Global Nutraeutical Ingredient market is expected to see growth rate of 7.2%
Research Analyst at AMA estimates that United States Vendors will contribute to the maximum growth of Global Nutraeutical Ingredient market throughout the predicted period.
Cargill (United States), BASF (Germany), ADM (United States), Omega Protein Corporation (United States), DSM (Netherlands), Ingredion (United States), Arla Foods (Denmark), Tate & Lyle (United Kingdom), Ajinomoto (Japan) and DowDuPont (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are Chr. Hansen (Denmark), Kyowa (Japan), Glanbia (Ireland), Fonterra (New Zealand), Associated British Foods (United Kingdom), Sigma-Aldrich (United States) and Evonik (Germany).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
Segmentation Overview
The study have segmented the market of Global Nutraeutical Ingredient market by Type (Probiotics, Proteins & Amino Acids, Phytochemicals & Plant Extracts, Fibers & Specialty Carbohydrates and others), by Application (Functional food, Functional Beverages, Dietary supplements, Animal Nutrition and Personal Care) and Region with country level break-up.
On the basis of geography, the market of Nutraeutical Ingredient has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Leaders and their expansionary development strategies
In January 2019, the Koninklijke DSM N.V. (Netherlands) Company has formed a joint venture with Nenter & Co., Inc. (China) company and has acquired more than 75% stake in it to upsurge vitamin E production in China. Hence, this acquisition enabled the company to strengthen its nutraceutical ingredients portfolio in China.
In October 2018, the Cargill Incorporated (United States) company has launched of Latitude, which is a sustainable, plant-based alternative source of Omega-3, for fish feed applications. Hence, this launch will help to increase the product portfolio of the company.
IIn July 2017, Food Safety and Standards Authority of India has directed the food business operators (FBOs) involved in manufacturing of health supplements and nutraceuticals, foods for special dietary use and for special medical purposes and functional and novel foods, governed under the Nutraceutical Regulation, to stop using14 ingredients lacking scientific data for safe usage. Hence, it may act hamper for market growth.
Market Drivers
- Growing consumer demand for fortified food & beverage and rising number of incidences of chronic diseases
- Increasing Usage of Nutraceutical Ingredient in Various Application
Opportunities
- Product-Based as well as Technological Innovations in the Nutraceutical Ingredients Industry
- Growing Demand from Emerging Market such as China, India, Brazil, Philippines, among others
Restraints
- Higher Costs of Fortified Products Dissuading Large-Scale Usage
Challenges
- Issue related to Consumer Skepticism Associated With Nutraceutical Products
Key Target Audience
Nutraceutical Ingredients Manufacture, Research and Development (R&D) Companies, Research Organization, Federal Agencies and Others