NUTRACEUTICAL INGREDIENTS MARKET ANALYSIS

High research and development costs pose a significant challenge for the growth of the global nutraceutical ingredients market. Developing new nutraceutical ingredients requires extensive research to validate health claims and ensure product safety and efficacy. Clinical trials and regulatory approvals involved in this process make R&D a costly affair.  The research process starts with identifying plant/food sources with potential health benefits and isolating and characterizing the active compounds. Scientists then study the exact mechanisms of action of these compounds within the human body and determine effective dosage levels. Comprehensive testing is done on animals before moving to different phases of human trials. Each phase of clinical testing on humans involving hundreds of participants further drives up costs. Additionally, obtaining new product approvals from regulatory bodies like FDA in the US and FSSAI in India involves preparing and submitting extensive documentation which is both time and resource intensive.

Market Opportunities: Untapped emerging markets

Untapped emerging markets present a huge opportunity for growth in the global nutraceutical ingredients market. These emerging economies have large, young populations with increasing disposable incomes and a growing focus on health and wellness.  Countries such as India, Brazil, Indonesia and others in Southeast Asia, Latin America and Africa are expected to see strong economic development and expansion of middle-income consumers in the coming years. As awareness about preventative healthcare rises and diets shift to include more nutritious foods, demand for supplements containing nutraceutical ingredients will surge.