NUTRACEUTICAL INGREDIENTS MARKET ANALYSIS

Market Concentration and Competitive Landscape

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Expanding applications in diverse product categories

Nutraceutical ingredients are not only limited to regular supplements anymore. Innovative food and beverage manufacturers have found highly versatile applications for various functional ingredients across many consumer product categories. For instance, probiotic yogurt drinks and energy bars fortified with vitamins, minerals, proteins and fibers are gaining wide acceptance. Similarly, herbal extracts and prebiotics are being incorporated in healthy snacks, cereals, juices and dairy alternatives. This allows companies to grab market share through novel offerings for health-conscious shoppers. Even traditional packaged food and beverage segments are recognizing emerging opportunities and incorporating nutraceutical ingredients to enhance their products' nutritional profiles and appeal to modern lifestyles. The adaptable nature and diverse functional benefits of ingredients like turmeric, omega-3, botanical extracts, and plant sterols & stanols, among others, have facilitated their incorporation into both food and supplement formulations. Furthermore, the clean label trend provides additional opportunities for manufacturers to highlight real ingredients on packaging. As consumers spend more on self-care amid the pandemic, such multifunctional products have benefitted. This driver signals continued growth potential for ingredients that can creatively address nutritional needs across an expanding range of goods.