The report “Nutraceutical Ingredients Market by Type (Probiotics, Proteins & Amino Acids, Phytochemicals & Plant Extracts, Fibers & Specialty Carbohydrates), Application (Food, Beverages, Animal Nutrition, Dietary Supplements), Form and Region – Global forecast 2025″, is projected to grow from USD 152.0 billion in 2019 to USD 228.0 billion by 2025, recording a compound annual growth rate (CAGR) of 7% during the forecast period. The major factors driving the growth of the nutraceutical ingredients market include increasing consumer demand for fortified food & beverages, rising incidences of chronic lifestyle diseases, and mandates on food fortification by government organizations due to inadequate levels of vitamins and minerals in the human body.

The probiotics segment is projected to account for the largest market share during the forecast period.

The probiotics segment dominated the nutraceutical ingredients market in 2019. Health benefits associated with probiotic-based functional foods and the participation of international bodies in the R&D approvals are projected to drive the demand for probiotics in the nutraceutical ingredients market.  Further, increasing use of probiotics in feed to promote gut function and overall immunity of livestock are projected to drive the demand for probiotics in the coming years. Additionally, probiotics are also used in cosmetic products to restore the natural balance of the skin.

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The Asia Pacific is projected to account for the largest market share in the nutraceutical ingredients market during the forecast period

The Asia Pacific market accounted for the largest share in the nutraceutical ingredients market. This is attributed to the presence of a large consumer base for food, beverages, dietary supplements, personal care products, and feed. Further, rising incomes, increasing purchasing power, and growing consumer demand for nutritional & health products are projected to offer promising prospects for the growth and diversification of the nutraceutical industry in the region. Additionally, the increasing prevalence of health-related problems is projected to drive the market for nutraceutical ingredients.

Key Market Players

Key vendors in the global nutraceutical ingredients market include Cargill (US), BASF (Germany), ADM (US), Omega Protein Corporation (US), DSM (Netherlands), Ingredion (US), Arla Foods (Denmark), Tate & Lyle (UK), Ajinomoto (Japan), DowDuPont (US), Chr. Hansen (Denmark), Kyowa (Japan), Glanbia (Ireland), Fonterra (New Zealand), Associated British Foods (UK), Sigma-Aldrich (US), and Evonik (Germany). These players have broad industry coverage and strong operational and financial strength; they have grown organically and inorganically in the recent past.

The personal care segment in the nutraceutical ingredient market is projected to be the fastest growing segment during the forecast period

The personal care segment is projected to be the fastest-growing segment in the nutraceutical ingredients market during the forecast period. This is attributed to the changing consumer lifestyles, increasing inclination towards personal grooming, and the rise in per capita income, particularly in developing countries. Protein, probiotic, prebiotic, vitamins, and carbohydrates are the most commonly used nutraceutical ingredients in personal care products, such as hair conditioners, skin lotions, face powders, and lip care products.