Nutraceutical Ingredients Market Size, Share, Industry, Forecast and outlook (2024-2031)

Nutraceutical Ingredients Market is segmented By Product Type (Probiotics, Proteins and Amino Acids, Phytochemical & Plant Extracts, Fibers & Specialty Carbohydrates, Omega-3 Fatty Acids, Vitamins, Prebiotic, Carotenoids, Minerals, Others), By Form (Dry, Liquid), By Health Benefits (Cognitive Health, Gut Health, Heart Health, Bone Health, Immunity, Nutrition, Weight Management, Others), By Application (Food & Beverage), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031

Nutraceutical Ingredients Market Size

The Global Nutraceutical Ingredients Market reached USD 174.5 billion in 2022 and is projected to witness lucrative growth by reaching up to USD 327.5 billion by 2030. the global nutraceutical ingredients market is expected to exhibit a CAGR of 8.4% during the forecast period (2024-2031).  Nutraceutical ingredients are those present in a variety of food and beverage items that provide health advantages owing to the presence of active compounds.

Nutraceutical substances increase a person's health, immunity, postpone the aging process, prevent chronic illnesses, and maintain body composition. Moreover, nutraceutical compounds supplement the fundamental nutritional needs of malnourished youngsters. 

Furthermore, the nutraceutical ingredients market size is growing rapidly because of the following factors increasing awareness about the health benefits of nutraceutical ingredients, rising demand for functional food products, growing consumer interest in preventive healthcare and wellness products, increasing demand for functional foods and dietary supplements, and growing prevalence of chronic diseases and lifestyle-related disorders.

Nutraceutical Ingredients Market Scope

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Nutraceutical Ingredients Market Dynamics and Trends

Rise in the Launch of Nutraceutical Ingredient Products

The rise in the launch of nutraceutical ingredient products is one of the significant drivers that help the market to grow during the forecast period. For instance, on December 17, 2022, Nutrilitius expanded its portfolio with the launch of nutraceuticals to promote good health and wellness.

Nutrilitius, an online platform that sells high-quality nuts and dried fruits in India, has expanded its product line by incorporating nutraceuticals. The nutraceutical product line has been designed to support excellent health and immunity.

Since gummy supplements include less vitamins and minerals, Nutrilitius has decided to launch its products in capsule form. These nutraceuticals, which are backed by clinical research, can be eaten as part of a regular dietary regimen. The ingredients are vegan, sugar-free, and FSSAI-certified. The completed goods have been thoroughly tested to assure their quality, efficacy, safety, and purity.

Increase Awareness About Health Benefits of Nutraceutical Ingredients 

There is a growing awareness among people about the benefits of nutraceuticals and their role in promoting good health. This is driving the growth of the global nutraceutical ingredients market.

For instance, The benefits of nutraceuticals ingredients are infinite, and new applications for them are being found on a daily basis. Nutraceuticals ingredients have the ability to cure a wide range of diseases and maladies, from physiological to psychological wellness. Nutraceuticals ingredients have been used to promote general health, increase energy, reduce anxiety, improve mental clarity, and avoid chronic illnesses, among other things. Drug-related side effects will stymie market expansion.

High Regulatory Stringent Laws Associated with Nutraceuticals   

Nutraceutical products have a high demand, but there are certain factors restraining market growth. These include the highly stringent and complex regulatory structure for commercialization, limited harmonized provisions on the composition of these products, and different opinions among government bodies on the type of ingredients to be allowed and about quantity. 

Additionally, the global markets exhibit limited harmonized provisions on the composition of these products, and the different opinions among government bodies on the type of ingredients to be allowed and what quantity further challenge the harmonization aspect.

Nutraceutical Ingredients Market Segment Analysis

The global nutraceutical ingredients is segmented based on product type, form, health benefits, application and region.

The Probiotics Product Type  Segment Accounted for Approximately 32.9% of the Nutraceutical Ingredients Share

Probiotics are live beneficial bacteria and/or yeasts that exist naturally in the body. However, there are two types of bacteria that are always present in and on the body healthy bacteria and harmful bacteria.

 Probiotics are helpful microorganisms that assist keep your body healthy and functioning properly. Probiotics are living microorganisms that have been shown to improve health when taken or administered to the body. They can be found in yoghurt and other fermented foods, as well as nutritional supplements and cosmetics.

For instance, in February 2023, The Archer-Daniels-Midland Company, often known as ADM, announced the launch of a new production facility in Valencia, Spain, with a USD 30 billion investment to hasten post- and probiotic production to meet a three-fold increase in product demand over the next five years. The move will allow ADM to scale its goods while increasing output by five times, resulting in 50 metric tonnes of capacity yearly. According to the business, it will be the first facility in the world to produce postbiotics and probiotics under the same roof.

Source: DataM Intelligence Analysis (2024)

Nutraceutical Ingredients Market Geographical Share

North America Accounted for Approximately 38.4% of the Market Share in 2022.

North America is estimated to hold about 38.4 % of the total market share throughout the forecast period. The large market share of this region is attributed due to the presence of high nutraceutical product manufacturers, the growing vegan population, consumer awareness of nutraceutical products, and high investments in the research & development of food processing equipment.

For instance, Wellness Natural Inc., the parent company of the SimplyProtein brand, has raised D 8.5 billion in Series B capital to support its North American development. The company also intends to expand its internet operations, increase marketing expenses, and offer new items. SimplyProtein makes gluten-free, low-sugar snack bars, energy bites, and other plant-based protein products. 

Source: DataM Intelligence Analysis (2024)

Nutraceutical Ingredients Market Companies

The major global players in the nutraceutical ingredients market include Associated British Foods, Arla Foods, DSM, Ingredients, Tate & Lyle, Ajinomoto, CHR. Hansen, Kyowa Hakko Kirin Group, Glanbia Plc, and Fonterra Co-Operative Group Limited.

COVID-19 Impact on Nutraceutical Ingredients Market

Russia Ukraine Conflict Analysis

The Russia-Ukraine conflict is estimated to have a moderate impact on the global nutraceutical ingredients, owing to the low prevalence and absence of key market players in this region. however, the impact of the import and export of nutraceuticals is expected to have little influence over the global nutraceutical ingredients growth over the forecast period.

By Product 

• Probiotics
• Proteins and Amino Acids
• Phytochemical & Plant Extracts
• Fibers & Specialty Carbohydrates
• Omega-3 Fatty Acids
• Vitamins
• Prebiotic
• Carotenoids
• Minerals
• Others 

By Form  

• Dry
• Liquid 

By Health Benefits 

• Cognitive Health 
• Gut Health
• Heart Health
• Bone Health
• Immunity
• Nutrition
• Weight Management
• Others

By Application 

• Food 
• Beverages
• Others

By Region

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • The U.K.
  • France
  • Spain
  • Italy
  • Rest of Europe
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
• Middle East and Africa

Key Developments

• In March 2022 - Tate & Lyle and ChemPartner Pharmatech got an agreement in which Tate & Lyle paid USD 237 billion for Quantum Hi-Tech Biological, a Chinese prebiotic dietary fiber manufacturer. The goal of this strategic purchase was to increase the company's market share for dietary fibre products in China and Asia.
• In February 2022, ABF Ingredients, a division of Associated British Foods, purchased Fytexia Group. Pyrexia Group developed active components for a variety of dietary supplements. The acquisition's primary goal was to broaden ABFI's product range in the pharmaceutical, nutritional, and food industries.

Why Purchase the Report?

• To visualize the global nutraceutical ingredients market segmentation based on product type, form, health benefits, application and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development. 
• Excel data sheet with numerous data points of nutraceutical ingredients market level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.

The global nutraceutical ingredients report would provide approximately 53 tables, 54 figures and 195 pages.

Target Audience 2024

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies