Asia Pacific nutraceuticals market valued USD 59.55 billion in 2016 and is estimated to reach USD 89.63 billion by 2021, growing at a CAGR of 8.52% in the forecast period of 2016 to 2021.
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The Asia Pacific market is projected to grow at the highest CAGR in the forecast period with rapid growth in the functional food & beverage industries in developing countries such as India and China. The growing health awareness and rising cases of various chronic diseases such as blood pressure, diabetes, and rickets in this region are also driving the market.
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The word nutraceutical is derived from “nutrient” (nourishing food component) and “pharmaceutical” (medical drug), it is a broad term which describes product obtained from food sources with added health benefits along with the basic food values. Dietary supplements not only fulfil the daily nutrient requirement but also prevents disease and boost physical performance.
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People can improve their health through supplement food or by the consumption of food that is fortified. Due to changing lifestyle there is an increase in gut complications as well such as, Crohn’s disease, ulcerative colitis, gluten therapy resistant celiac, irritable bowel syndrome and nutraceuticals deals with them also.
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Due to lack of nutritional intake in regular food, it is observed that in developing nations, mortality because of nutrition related factors is high. A shift is observed between consumers from synthetic supplements to natural or organic ingredients.
The market growth is restricted because of lack of awareness in the developing countries about these nutraceutical ingredients.
The market is divided on the basis of types into prebiotics, probiotics, proteins & amino acids, fibres & specialty carbohydrates, vitamins, phytochemicals & plant extracts, minerals, carotenoids, Omega-3 fatty acids and others. Based on application the market is further segmented into animal nutrition, functional food, dietary supplements, functional food beverages and personal care.
Dietary supplements segment leads the application market while photochemical & plant extracts is the fastest growing division.
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The key players in the market are E. I. du Pont de Nemours and Company, General Mills, Inc., Cargill, Royal DSM N.V., Groupe Danone S.A., Incorporated, BASF SE and Archer Daniels Midland Company.
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