Global Nutraceutical Ingredients Market: Market Outlook
The term ‘Nutraceutical Ingredients’ was coined in the late 1980s to define products that have a medicinal benefit. This fast-growing sector includes functional foods (such as vitamin-enriched products), sports drinks, nutritional supplements, and medically formulated foods. Nutraceutical Ingredients, functional food ingredients, and nutritional supplements are important for balanced health and disease risk reduction. While many of bioactive is known to render the expected beneficial effects, the mechanisms involved are varied and may work separately or together in providing the effects. Functional foods are defined as products that look like traditional foods but have proven physiological benefits. However, nutraceutical ingredients are commodities extracted from foods but are used in the healing form of medicines, tablets or solutions and again purify demonstrated physiological benefits.
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Global Nutraceutical Ingredients Market: Market Dynamics
The quality of life in terms of revenue, expenditure, and lifestyle has enhanced economic progress. Though, it has also thrown up a major challenge in the form of lifestyle diseases. The first object of this lifestyle variation has been food habits. Consumption of junk food has increased widely, which has led to many diseases related to nutritional shortages. Nutraceutical ingredients can play a significant role in controlling them. No wonder more and more people are turning to Nutraceutical ingredients. The nutraceutical ingredients are much-needed in food-related products and industries. Today’s consumers are highly conscious about their health and fitness owing to these consumers highly preferring healthy ingredients in the food and beverage products. While buying any food product consumers are looking for the ingredients used in the food products and buy accordingly. These are the factors creating a huge demand for nutraceutical ingredients.
Global Nutraceutical Ingredients Market: Market Segmentation
Based on type, Global Nutraceutical Ingredients Market has been segmented as,
- Amino Acids & Proteins
- Omega-3 Fatty Acids
- Plant Extracts & Phytochemical
- Specialty Carbohydrates & Fibers
- Others (Chondroitin, Glucosamine, and Polyols)
Based on form, Global Nutraceutical Ingredients Market has been segmented as,
Based on Application, Global Nutraceutical Ingredients Market has been segmented as,
- Animal nutrition
- Dietary supplements
- Personal care
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Global Nutraceutical Ingredients Market: Key Players
Some of the key players are engaged in the global nutraceutical ingredients market are Nestle, Tate & Lyle PLC, Omega Protein Corporation, Archer Daniels Midland Company, BASF SE, ABF Ingredients, Glanbia plc, KYOWA HAKKO U.S.A., INC., Ajinomoto, DuPont de Nemours, Inc., and others. These key players are looking for new opportunities through strategic business developments in the global nutraceutical ingredients market.
Opportunities for the key players in the global Nutraceutical Ingredients market
Nutraceuticals are the products that offer health as well as medicinal benefits, including the prevention and treatment of diseases. North American consumers are highly health-conscious and prefer healthy food products. North American consumers have high disposable income and are ready to spend on healthy food products, which boost the growth of the global nutraceutical ingredients market. European consumers are well known for their food habits, consumers of Europe always sets a new trend in the food and beverage industry. The region has a strong traditional background of food inventions. Whereas consumers have a high demand for nutritional food products which boost the growth of the global nutraceutical ingredients market.