Growing prevalence of chronic diseases and ageing population contribute to the growth of the Nutraceutical Ingredients Market in the coming years.
According to MarketIntelReports' “Global Nutraceutical Ingredients Industry Market Research Report”:
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Nutraceutical ingredients add nutritive value to the food we consume. They are used in industries like food & beverages, animal feed, and pharmaceuticals.
The main factor which drives the growth of nutraceuticals is the increasing awareness about consumption of healthy food. The Nutraceutical Ingredients Market has applications in the pharmaceutical industry due to its properties like preventing chronic diseases, anti ageing, cancer and health improvement.
The dietary food supplement has phytochemicals which have antioxidant activities that prevent cancer. Growing expense in healthcare and the preference for nutritional diets enhance the growth of the market.
Scope & Regional Forecast of the Nutraceutical Ingredients Market
Asia Pacific dominates the Nutraceutical Ingredients Market. This is due to the rise in healthcare spending.
Countries like China and India are the main countries having a larger share of nutraceutical brands. The growing geriatric populations is also another factor which propels the growth of the industry.
Increasing prevalence of chronic diseases and growth of ageing population drives the demand for new food supplements. The properties of nutraceutical ingredients prevent ageing in people.
This enhances the growth of the market in the future.
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Medicinal nutraceutics is quite necessary in the modern world. The demand for preventive healthcare and growth in medical treatment stimulates the demand for bioactive nutrients.
Cosmeceuticals have nutraceuticals like vitamins and antioxidants which protect the skin from infections. Demand for the antioxidants and vitamins creates new opportunities for the market.
Segmentations & Key Players Involved in the Nutraceutical Ingredients Market
The Nutraceutical Ingredients Market can be broken down into various segments as follows:
- Product Type- Lutein, Zeaxanthin, Minerals, Polyphenols and flavonoids
Probiotics, Specialty carbohydrates and fibers, Specialty fatty acids.
- Application- Functional foods, Functional beverages, Dietary supplements, Animal nutrition (for meat and milk), and Cosmeceuticals.
- Region- North America, Europe, China, Japan, Middle East & Africa, India, South America, and Others.
Some of the key players involved in the Nutraceutical Ingredients Market are as follows:
- Balchem Corporation
- Kyowa Hakko
- Tate & Lyle
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