HOME › Research Insight › Nutraceutical Ingredients Market- New Revenue Pockets
Nutraceutical Ingredients Market- New Revenue Pockets
Phytochemicals & Plant Extracts: Expected To Enjoy A Significant Market Share In Future
The increasing acceptance of plant-derived products in the market is major driver for increase in market for phytochemicals & plant extracts in future. With increasing health concerns and awareness regarding the benefits of plant derived products, the consumers in developed nations such as U.S., Germany etc are tilting towards these products for securing health and protecting body from various diseases. Continuous focus of research & development towards plant-derived nutraceutical ingredients is resulting in progress in the field and increasing applications. As the current market scenario portrays that the plant extracts and phytochemicals have gained importance in the personal care industry with range of herbal products entering into the market. The concept of cosmeceuticals is emerging with personal being served to the customers as medicines, in order to safeguard them from skin diseases and even the ill effects of the chemically prepared personal care products.
Asia-Pacific: Dominant Market With Emerging Opportunities
In nutraceutical ingredient market, Asia-pacific has come up as a dominant market with largest share and highest growth rate in coming years. This is because of the major factors that is driving the economy of region and are having direct impact on nutraceutical product market, moving to ingredient market. The rate of urbanization in the various growing economies of Asia-pacific is very high and even the population is expected to grow with a significant rate in nations such as India, China etc. The economy is expected to improve in the future of various nations in the region, resulting in increase in disposable income. As the disposable income of people is expected to rise, they tend to spend a ratio of their income towards health benefits that creates market for nutraceutical products resulting in high demand for nutraceutical ingredients.
On the other side, the economies of Oceania are experiencing aging population, which is coming up as major driver in countries such as Australia, New-Zealand etc. The population growth rate in the region is not very high, however nutraceutical ingredients are gaining market share with more and more old people preferring nutraceutical products over medicines in order to prevent old-age diseases.
Functional Beverage: Untapped Potential
Functional beverages are expected to experience the highest growth rate in coming years among the entire application market for ingredients. The revenue from product market is very high; however the nutraceutical ingredients are still seeking for existence in functional beverages market. The wider will be the application of ingredients in the functional beverages sector, more will be the growth prospective for ingredients in ingredient application market.
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
North - Dominion Plaza,
17304 Preston Road,
Suite 800, Dallas, TX 75252