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Bioactive Ingredients – New Revenue Pockets
The increasing acceptance of plant-derived products in the market is a major driver for the increase in the market for phytochemicals & plant extracts in the future. The consumers in developed nations such as the U.S., Germany, and others, are moving towards these products with increasing health concerns and awareness about plant-derived products.
Phytochemicals & Plant Extracts: Expected to Enjoy A Significant Market Share in the Future
Continuous focus of research & development towards plant-derived bioactive ingredients is resulting in progress in the field and application areas. The current market scenario signifies that plant extracts & phytochemicals have gained importance in the personal care industry, with a range of herbal products entering into the market. The concept of cosmeceuticals is emerging with personal care products being served to the customers as medicines, in order to safeguard them from skin diseases and the ill-effects of chemically-prepared personal care products.
Asia-Pacific: Dominant Market With Emerging Opportunities
In the bioactive ingredients market, Asia-Pacific has emerged as a dominant market with the largest share and the highest growth rate in the near future. The rate of urbanization in the various growing economies of the Asia-Pacific region is very high and the population is expected to grow at a significant rate in nations such as India and China. The economy is expected to improve in the future, resulting in an increase in the disposable income. As the disposable income of people is expected to rise, they will most likely spend a portion of their income towards health benefits, which will in turn, create a market for bioactive products. This market will result in high demand for bioactive ingredients.
The growth rate of the in Oceania is not very high. However, bioactive ingredients are gaining a market share with more and more aged people preferring bioactive products over conventional medicines in order to prevent diseases that come with old age.
Functional Beverages: Untapped Potential
Functional beverages are expected to experience the highest growth rate in the coming years, among the entire application market for ingredients. The revenue from the product market is very high; however the bioactive ingredients are gaining a market share in the functional beverages segment. The wider the application of ingredients in the functional beverages sector, the more will be the growth prospects for ingredients in the application market.
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