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Nutraceutical Ingredients Changing Lifestyles of the People
The global market for nutraceutical ingredient is expected to grow at a rate of 7.2% from 2013 to 2018. Asia-pacific forms the dominant market in the field of nutraceutical ingredients and this can be owed to continuously growing population, urbanization, increasing disposable income, and changing lifestyles of the people. Taking in consideration the ingredient type, fibers and specialty carbohydrates are estimated to acquire the largest share due to wide applications. In future, plant extracts & phytochemicals are expected to experience the highest growth due to regular improvisation in applications of plant extracts and phytochemicals in nutraceutical industry.
Based on the application, functional beverages are expected to experience highest growth due to wider availability of market and convenience factor to the consumers.
The nutraceutical ingredient is a fragmented market with large number of players capturing a small ratio in the overall market. The market is occupied by few large and many small & medium players. However, the major players identified in the nutraceutical ingredient market includes DuPont (U.S.A), Royal DSM (Netherlands), Cargill (U.S.A), ADM (U.S.A) and BASF (Germany).
Nutraceutical Ingredient Market: Market Share, 2012
Source: Industry Journals, Company Presentations, MarketsandMarkets Analysis
The top five players of nutraceutical ingredient industry capture a share of 35.2% whereas other players capture a huge share of 64.8%. DuPont is identified as the major player among all the nutraceutical ingredient manufacturers. The wide product portfolio of the company and tendency to serve the major application market makes it a major player in nutraceutical ingredients market. The continuous expansion and development activities of the company is leading its path towards enlarging its presence at the various parts of world, especially in the developing nations of Asia-pacific.
Nutraceutical Ingredient Market by Type (Probiotics, Proteins, Plant Extracts, Minerals, Vitamins, Fibers, Carotenoids & Others) by Application (Functional Foods & Beverages, Supplements, Animal Nutrition, Personal Care) - Global Trends & Forecasts to 2018
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