Future of Nutraceuticals: Bioactive Ingredient Market Trends
Future of Nutraceuticals: Bioactive Ingredient Market Trends
Archana Aher
The bioactive ingredient market is expected to be valued at US$ 186.73 billion in 2023 and is likely to surpass US$ 395.73 billion by 2033. The sales of bioactive ingredients are projected to record a CAGR of 7.8% during the forecast period (2023 to 2033).
Dietary supplements are preferred by customers as they are made with natural components that improve health and wellness. As a result of the increased demand for natural-based ingredients, the adoption of bioactive compounds is expected to surge in a diverse range of food products.
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Further, growing focus on food safety issues has raised awareness for transparency and traceability. Hence, key players such as such as Cargill, Incorporated, CP Kelco, Ingredients AG, and Ingredion Incorporated are providing labeled products to capitalize on growing clean label trends.
Subsequently, increasing use of macronutrients including fibers, carbs, proteins, and fats in various ready-to-mix & eat products is driving the demand in the market. On the back of these factors, the bioactive ingredient market is projected to surpass US$ 55.4 Bn by the end of 2032.
Key takeaways from market study
Based on product type, the antioxidants segment is expected to witness highest growth over the forecast period (2022-2032).
North America bioactive ingredient market is expected to witness a lucrative growth rate of 6.8% CAGR during the assessment period.
East Asia is anticipated to account for 17.8% in the global bioactive ingredient market through 2032.
Based on application, functional food & beverages is anticipated to account for around 25.6% of the market share over the forecast period.
“Key bioactive ingredient producers are actively exploring the applications through various research institutions, public research universities, and crop institutes across the globe. Also, increased demand for packaged and healthy food products is propelling the demand in the market.” says a lead analyst at Future Market Insights.
Competitive landscape
The global bioactive ingredient market is expected to be consolidated. Key players in the market are focusing on expansion of their product line to strengthen their foothold in the industry. Expansion in emerging economies such as India and China is a key strategy adopted by leading players to increase their revenue.
Some of the key players operating in the bioactive ingredient market are Dupont, Royal DSM, Cargill Inc., Archer Daniels Midland, BASF, Koninklijke DSM N.V., AJINOMOTO CO., INC, Arla Foods, FMC Corporation, Ingredion Incorporated, Roquette Frères S.A., Kerry Inc, Total Nutrition, Inc, Danone SA, Nestlé SA Valio Limited i-Health, Inc. and others
