Elaborated by Transparency Market Research is expected to be worth USD 20.8 billion in 2012 and is further expected to reach USD 29.5 billion in 2017, growing at a CAGR of 7.3% from 2012 to 2017.
Nutraceutical ingredients are fundamental elements needed for various health purposes, especially to prevent chronic diseases that may occur to a human due to nutrient deficiency in the body. Nutraceutical market is considered to be the largest body building segment estimated at USD 9.5 billion in 2012, and further expected to maintain its global growth and lead position in terms of revenue until 2017.
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This market is one of the present-day emerging sectors in the world. It includes aspects such as dietary supplements, processors, raw material suppliers, end-use consumers, and product manufacturers. It also has products including functional food, beverages, personal care, and animal nutrition. The major drivers of the nutraceutical ingredients market include elements such as probiotics, peptides & proteins, phytochemicals & plant extracts, prebiotics, fibers & specialty carbohydrates, amino acids, omega 3 & structured lipids, minerals, vitamins, carotenoids & antioxidants. All these ingredients are acquired from different suppliers, plant sources, poultry farms, and are further served to multiple outlets in the form of beverages, functional food, personal care products and supplements to consumers across the globe. It is also due to specialty fibers and carbohydrates being the most widely used ingredients, plant extracts and phytochemicals are expected to witness a rise of promising growth within this market in the near future.
The primary growth of the nutraceutical ingredients market is due to the reliability and awareness of the nutraceutical products and the ever-increasing customer base worldwide. Nonetheless, the nutraceutical ingredients market and product market are akin to one another. Shifts in either of the market will involuntary cause a direct impact on the other. Certainly, due to a rapid growth in consumption of nutraceutical ingredients and products worldwide, several developing economies and regions have boosted the growth of nutraceutical ingredient market today.
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The world has witnessed a rising economic prosperity of this market in emerging nations such as China, India, Brazil, Poland, South Korea, Mexico, South Africa, and Russia. However, the Asia-Pacific of all the regions is expected to enjoy 37.5% of the total revenue share in this market in 2017 which is then succeeded by the growth seen in North America.
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The nutraceutical ingredient market is becoming popular and getting a drive ahead in various economic nations due to its wide served opportunities. With consumers flocking towards healthy diet plans, healthy nutrients regime and changing lifestyles, the worldwide markets for Nutraceutical Ingredients in USD million is popular due to segments such as controlling diabetes, body building, pain relief, and weight control. The body building market was followed by weight control in 2011; similarly, the controlling diabetes sect had showed 16.5% revenue share in 2011, becoming the third largest segment in the world.
According to the industry best market research reports forecast provided for the period 2012 through 2017, the comprehensive analytics of this market is geographically noticed for locales like Western Europe, North America, Asia-Pacific, Eastern Europe, Latin America, and MEA. Especially, the Asia-Pacific and North America nutraceutical ingredients market is expected to hold a market share of 30.4% and 39.2% respectively in 2017. In addition, the dietary supplement market will be the rapidly growing market for the forecast period 2012 to 2017. It will provide health benefits to the body and help in healing and prevention of diseases.
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