Active Nutraceutical Ingredients Market Overview
An overview of conceptual frameworks, analytical approaches of the Active Nutraceutical Ingredients market is the main objective of the report, which further consists of the market opportunity and insights of the data involved in the making of the respective market. The Active Nutraceutical Ingredients market is expected to grow at a significant rate in the near future.
The global Active Nutraceutical Ingredients market is estimated to reach at a value of US$ xx Mn by the end of 2020 and expected to reach at a value of US$ xx Mn by 2028 with a significant CAGR of xx%
Active Nutraceutical Ingredients Market Definition
The term “Nutraceuticals'' can be referred to as the types of foods or drinks that, along with the accretion of definite active ingredients, can prove beneficial for health apart from the elementary nutritional values other foods usually offer. The health gains offered by the nutraceuticals could be physiological or psychological, further eliminating the risk of severe illnesses other than just providing basic nutritional purpose, promoting overall growth, and rejuvenating the performance of body and/or psyche.
Moreover, the active nutraceutical ingredients market consists of two primary segments—functional foods and dietary supplements. On the whole, functional foods depicts the bigger segment. Basically, functional foods comprises the products that are sold as processed foods and beverages such as soups, cereals, fortified juices, soy food, and orally administered pharmaceutical dosage forms. On the other side, dietary supplements comprises all products that a consumer can buy without a prescription.
Active Nutraceutical Ingredients Market Dynamics
The continuously growing health consciousness among the masses across the world, thereby rising demand of fortified foods is majorly projected to boost the growth of the global active nutraceutical ingredients market in the near future. As per the survey conducted by the International Food Information Council (IFIC), in 2019, although the majority of the population say they simply try to eat healthy in general, 23% of consumers say they actively seek out foods or follow a diet for additional health benefits.
In addition, there is a massively developing prevalence of various chronic diseases and disorders among the population, worldwide, including the deadly coronavirus which has hit millions globally, which in turn escalates the need for foods which helps in the overall growth and improvement in the well-being of an individual. Attributing to which, the global active nutraceutical ingredients market is projected to observe huge breakthroughs in the forthcoming future.
Moreover, in the present-day world, the community, especially the working population, are forced to adopt an unhealthy lifestyle due to their hectic schedule and desk-bound jobs, which further elevates the number of diseases among the society. Such factors also accelerate the demand of fortified foods in the global market, therefore propelling the growth of the global active nutraceutical ingredients market over the forecast period.
Furthermore, the initiatives taken by the governments and regulatory authorities, across the world, for increasing awareness regarding good health and benefits of fortified foods is also playing a positive role in augmenting the growth of the global active nutraceutical ingredients market in the given timeframe. Additionally, the convenience and easy accessibility of these products owing to the growing number of distribution channels worldwide, such as numerous retail stores as well as online stores is also playing a vital role in supporting the rising demand of active nutraceutical ingredients in the global market, therefore the global active nutraceutical ingredients market is estimated to witness substantial growth in the coming years.
Active Nutraceutical Ingredients Market Segmentation
The global active nutraceutical ingredients market is segmented on the basis of ingredient type, application, and region. On the basis of the ingredient type, the active nutraceutical ingredients market is segmented into prebiotic, probiotic, proteins, vitamins, minerals, OMEGA 3 Structured Lipids, Phytochemicals & Plant Extracts, and Fibers and specialty Carbohydrates. The application active nutraceutical ingredients market segment is divided into functional foods, functional beverages, dietary supplements, animal nutritions, cosmetics, baby products, and others.
Active Nutraceutical Ingredients Market Key Players
The global active nutraceutical ingredients market is dominated by Cargill, Incorporated,E. I. Du Pont De Nemours and Company, BASF SE, Archer Daniels Midland Company, Associated British Foods PLC, and Ajinomoto Co., among others.
Active Nutraceutical Ingredients Market Regional Overview and Analysis
Asia Pacific maintains an exciting position in the global nutraceutical ingredients market that is majorly driven by India. The country is also anticipated to be the rapidly growing country in the region for active nutraceutical ingredients owing to the altering dietary patterns and lifestyles of consumers all around the country. The consumer preference is changing swiftly owing to the rising awareness about nutrition and health consciousness.
Further, the high hospitalization costs and increasing situations of unaffordability is also promoting the principle of “Prevention is better than cure” and thereby, boosting the demand of consumers for fortified foods, additional supplements and other nutrients such as proteins, vitamins and minerals, to maintain their well-being.
Moreover, consumers in the region are now pleased and willing to spend an extra amount for fortified products, owing to the increasing disposable income of consumers, which has assisted manufacturers of active nutraceutical ingredients to find a significant market opportunity to a greater extent. Additionally, developing nations like China, India, and many others may render enormous growth for the market in the forecast period.
Although the community growth rate of the oceanic nations such as New-Zealand and Australia is not very high. Yet, the active nutraceutical ingredients are gaining a much higher momentum in the global market and achieving considerable market share with a raised count of geriatric population shifting to nutraceutical products over medicines, to avert old-age diseases.
MMC Overview on Active Nutraceutical Ingredients Market Report
The non-identical approach of Meridian Market Consultants stands with conceptual methods backed up with the data analysis. The novel market understanding approach makes up the standard of the assessment results that give a better opportunity for the customers to put their effort.
A research report on the Active Nutraceutical Ingredients market by Meridian Market Consultants is an in-depth and extensive study of the market based on the necessary data crunching and statistical analysis. It provides a brief view of the dynamics flowing through the market, which includes the factors that support the market and the factors that are acting as impedance for the growth of the market.
Furthermore, the report includes the various trends and opportunities in the respective market in different regions for a better understanding of readers that helps to analyze the potential of the market. The report is titled as ‘Active Nutraceutical Ingredients Market: Opportunity Analysis and Future Assessment 2020-2028’.
Factors that are benchmarked while estimating the market
Various factors that are benchmarked while estimating the market growth includes (but not restricted to):
New product designs and launches
Current product compliance
Concerns for use of Active Nutraceutical Ingredients
Advantage of Active Nutraceutical Ingredients
Actions taken by the manufacturer and respective regulatory authorities also impact the market growth of the segment. These factors are understood at regional level and in major countries globally for providing regional insights of the product segment in the report. This helps our clients to make informed decisions.
A mix of top-down and bottom-up approach is followed to arrive and validate our market value estimations. For a product segment like wherein one/two manufacturer(s) dominates the market, it’s products sales, previous growth rates and market expansion plans are considered to generate market share in the global market.