Nutraceutical Ingredients Market, By Form (Dry and Liquid), By Product Ingredients (Vitamins, Prebiotics and Probiotics, Proteins and Amino Acids, Omega Fatty 3 acids, Minerals, Carotenoids, Fibers & Specialty Carbohydrates, Phytochemicals & Plant Extracts, and Other Ingredients), By Application (Functional Food, Functional Beverages, Dietary supplements, Animal Feed, and Others), By Geography (North America, Latin America, Asia Pacific, Europe, Middle East, and Africa)

Published In : Jun 2024

Code : CMI1080

Pages :312

Formats :

Excel and PDF

Industry : Food Ingredients

Regional Analysis

Nutraceutical Ingredients Market Regional Insights

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North America has been dominating the global nutraceutical ingredients market over the past few years owing to high health consciousness and increased adoption of healthy lifestyles among consumers in the region. The region is expected to account for 39.8% of the market share in 2024. Countries like the U.S. and Canada have seen significant rise in the consumption of nutritional supplements and functional foods products. This has encouraged major nutraceutical brands and supplement manufacturers to strengthen their presence in the region. The region is also home to some of the largest nutraceutical companies globally who are continuously investing in product innovation and new product development. Stringent regulations regarding the usage of natural ingredients benefits the suppliers as well, helping North America maintain its leading position.

The Asia Pacific region has emerged as the fastest growing market for nutraceutical ingredients globally. Rapidly changing consumer eating habits, increasing health expenditures, and growing focus on preventive healthcare are the major factors driving demand. Countries like India, China, Japan, and South Korea are anticipated to offer lucrative opportunities with their growing middle-class populations and rising disposable incomes. The region has also witnessed the proliferation of local nutraceutical brands in the past few years who rely on imports to fulfil their requirements. This dependence on imports is gradually decreasing with local suppliers improving their capabilities. The development of native plant sources and investments in extraction technology by regional players will further help Asia Pacific become a dominant sourcing hub. Strong governmental support through initiatives focused on herbal medicines and traditional ingredients also ensures a positive outlook for nutraceutical suppliers targeting this high potential market. Overall, Asia Pacific's favorable industry ecosystem and rising health-conscious consumer base makes it an attractive investment destination for global nutraceutical players.