Health Ingredients Market Insights
The global health ingredients market is expected to grow at a significant CAGR of 7.3% over the forecast period. This growth is mainly attributed to the rising adoption of healthy food coupled with increasing demand from various end user industries such as animal feed, fortified food & beverages and pharmaceutical among others. Along with this, increasing aging population and growing awareness of urban consumers towards function specific food are likely to stimulate the market growth.
Moreover, the rising incidence of chronic diseases is anticipated to foster demand over the coming years. However, lack of knowledge related to consumption of helpful probiotics & prebiotics coupled with stringent government regulations associated with adherence of quality standards is projected to affect the profitability of market.
Health Ingredients Market: Type/ Function Insights
On the basis of type, the industry is segmented into vitamins, minerals, prebiotics, probiotics, plant & fruit extracts, enzymes and proteins among others. The market for protein is expected to occupy the highest share owing to rising application in weight management, dietary supplements, and sports drinks among others.
The market is segmented into joint health management, heart/cardiovascular health management, weight management, immunity enhancement, gut health management, eye health management, and brain health management among others.
Health Ingredients Market: Source Insights
By source, the industry is segmented into plant, animal, synthetic and microbial. The plant segment is anticipated to register a significant growth over the forecast period as it has high source of proteins & vitamins and is easily available. Moreover, increased preference of consumers towards plant-based product rather than meat-based is also projected to boost market over the forecast period.
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Health Ingredients Market: Application Insights
Yeast Market finds its application in food & beverages, animal feed, personal care and pharmaceutical sectors. The pharmaceutical segment is anticipated to dominate the market over the forecast period owing to rising incidence of chronic diseases coupled with growing demand for functional supplements.
The food & beverages segment is anticipated to occupy the highest share over the years due to increasing demand for fortified foods & beverages. Moreover, rising government initiative for food fortification is also likely to stimulate market growth.
Health Ingredients Market: Regional Insights
Europe occupied the largest share of this market since the past few years. This can be attributed to growing adoption of health specific food. Along with this, rising awareness about prebiotics and probiotics are projected to boost market over the coming years.
Asia Pacific is also expected to emerge as a key revenue generating region. This can be associated with the growing aging population. Moreover, increasing demand for nutritional food & beverages by urban population is also anticipated to favour the regional market.
Health Ingredients Market: Vendor Landscape
The report contains a chapter dedicated to vendors operating in the market, covering raw material manufactures, equipment developers, manufacturers, and distributors. The report provides these insights on a regional level. This section of the report entails contact details, experience, products manufactured/supplied, and geographical presence of companies.
Health Ingredients Market: End-Use Landscape
The end-use landscape entails a list of current and prospective consumers prevailing across the regions. This section provides company addresses, contact details, products, and regional presence of companies who are purchasing or are likely to purchase health ingredients over the coming years. Some leading consumers of this market are The Procter & Gamble Company, Johnson & Johnson, and GlaxoSmithKline.
Health Ingredients Market: Market Share & Competitor Analysis
The global market for this product is expected to be significantly large due to the presence of numerous manufacturers. The key players include Archer Daniels Midland Company (The U.S.), Koninklijke DSM N.V. (Netherlands), BASF SE (Germany), Ingredion Incorporated (The U.S.), Kerry Group plc (Ireland), Associated British Foods plc (U.K.), Arla Foods (Denmark) and Lonza Group Ltd. (Switzerland).
In December 2017, DSM, the global nutritional ingredients player acquired BioCare Copenhagen A/S.
In October 2017, Neovia, a global feed group based in France, announced to acquire Epicore, a North American company specializing in the manufacture of larval feed and probiotics.
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