nForming Nutraceutical Ingredient Market Smart Book

The nForming Nutraceutical Ingredient Market Smart Books offer a comprehensive compilation of data pertaining to historical revenue, user volume, prices, and other pertinent information for each segment. This includes Ingredient Type, end-user application, and product form, with coverage at both regional and country levels. The data spans the past three years and provides projections up until 2030. The smart book also provides extensive information on the leading suppliers and their corresponding market shares in the nutraceutical ingredient market. The nutraceutical ingredient market comprises a range of qualitative factors, including significant growth drivers, opportunities, and challenges.

Nutraceutical Ingredient Market Growth Opportunities

Growing New Product Development in the Asia-Pacific Region

The Asia-Pacific region is expected to experience an increase in demand for the nutraceutical industry. This can be attributed to the emerging nutraceutical trends in the region, such as the growing opportunities for developing new products focused on hair and gut health. Additionally, there is a notable consumer preference for omega-3 products in South Korea. The hair, skin, and nail supplement is an essential component of women’s health products.

However, with the increasing availability of specialized hair loss products, businesses are recognizing the opportunities to specifically address this issue. India’s Soul Strips has recently identified potential opportunities in the South East Asia (SEA) market for hair loss supplements. The company intends to launch Repair, an oral dissolvable hair fall control strip for women, in the Middle East region, followed by expansion into the Southeast Asian markets, with a specific focus on Thailand, Malaysia, and Singapore.

Additionally, DyDo DRINCO, a Japanese company, has expressed its intention to venture into the health foods sector with a specific focus on catering to the needs of the elderly demographic. Based on the insights provided by Blackmores, Swisse, and Herbs of Gold, it can be observed that the nutraceutical market in Australia is poised for growth, with a specific focus on mental health and sleep aid products.

Additionally, consumers are displaying a preference for purchasing larger value packs and increasing the size of their overall purchases. Therefore, the increasing advancements in the nutraceutical industry within the region are anticipated to drive market expansion.

Read more opportunities of nutraceutical ingredient market in the Smart Book.

Nutraceutical Ingredient Market Trends

Urban populations worldwide are increasingly acknowledging the importance of prioritizing their health and fitness. The nutraceutical industry currently presents a significant opportunity for growth. Consequently, it is expected that the industry will undergo substantial growth. Manufacturers and marketers in the nutraceutical industry have devised innovative strategies to educate consumers about their products, highlighting their benefits and applications in medical and preventive healthcare.

Various initiatives are currently being undertaken by industry stakeholders in an independent capacity. These efforts encompass a renewed focus on elevating product quality standards, enhancing transparency, and adopting competitive pricing strategies for innovative solutions. In July 2023, the collaboration between Natac Group and IFFE Biotech will leverage their scientific expertise and advanced methodologies to facilitate continuous product development. The recently established group will lead significant research and development initiatives, supported by a robust scientific division that ensures ongoing innovation and adaptability to meet evolving customer demands.

The Business Plan of the united group aims to achieve a revenue generation exceeding 28.5 million euros by the year 2023. This will contribute to the growth of nutraceuticals within the health and wellness industry.

Moreover, numerous nations are implementing a range of strategies to attract investors and entrepreneurs.

• The Food Safety Authority of India (FSSAI) is preparing to introduce regulations for nutraceuticals in India that are in line with international standards, with the aim of promoting the participation of aspiring entrepreneurs in this sector. Once these policies are implemented, they will create favorable conditions for significant foreign investment, particularly from emerging companies, resulting in a substantial increase in the industry’s valuation within a relatively brief period.
• Additionally, the government of South Korea is currently engaged in a five-year initiative to establish comprehensive regulations for the rapidly growing field of personalized nutrition.

Read all major trends of nutraceutical ingredient market in the smart book.

Nutraceutical Ingredient Market Competition Analysis

The nutraceutical ingredients market on a global scale is characterized by intense competition, as numerous companies of varying sizes strive to secure their respective shares in the market. Below are several prominent companies in the market, accompanied by their projected market share for the year:

Leaders of Nutraceutical Ingredient Market:

• DSM N.V.
• BASF SE
• Cargill, Inc.
• Ingredion Incorporated
• Archer Daniels Midland Company (ADM)
• Associated British Foods Plc

These companies have established themselves as market leaders by virtue of their robust research and development capabilities, diverse product portfolios, and extensive global presence. The company is making significant investments in emerging technologies and innovative products, enabling them to sustain their market position.

In addition to the mentioned prominent companies, there exists a range of smaller enterprises that are also exerting a notable influence on the nutraceutical ingredient market. These companies frequently prioritize the development of specialized products or catering to specific market segments. With the ongoing expansion of the nutraceutical ingredient market, it is anticipated that there will be an increase in the number of new participants entering the market.

Following are some of the developments from the nutraceutical ingredient market

In February 2023, KND Labs, a well-established manufacturer of nutraceutical components specializing in hemp-derived cannabinoids, announced a significant partnership with ReaGenics, an Israeli-based plant molecular harvesting company. The partnership will provide KND Labs with a new commercial platform, enabling the expansion of its product offerings in the global nutraceutical and ingredient markets.

In December 2022, Shover Foods International, an Indian company headquartered in Pune, made an acquisition to enhance its product portfolio by incorporating the startup brand Nutrilitius. A wide range of nutraceutical products have been developed to promote optimal immune function and overall well-being. The company asserts that, due to the comparatively lower vitamin and mineral content found in gummy supplements, it has made the strategic decision to introduce its services in the form of pills. The company further asserts that the components are devoid of sugar and adhere to vegan standards, having obtained approval from India’s Food Safety and Standards Authority (FSSAI).

Pharmactive Biotech Products, S.L.U., has recently disclosed a strategic alliance with Nutraconnect Pte., Ltd. of Singapore. This collaboration aims to provide advanced nutraceutical ingredient in the Asia-Pacific region, with the exception of Australia and New Zealand. The partnership is founded on scientific research and innovation. Pharmactive will offer clean-label botanical extract ingredient, while Nutraconnect will function as the driving force behind the region’s growth.

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Nutraceutical Ingredient Market’s Key Suppliers

• Arla Foods Ingredients Group P/S (Denmark)
• Ingredion (US)
• Tate & Lyle (UK)
• Associated British Foods Plc (UK)
• Ajinomoto Co., Inc. (Japan)
• DSM N.V. (Netherland)
• CHR Hansen Holdings A/S. (Denmark)
• Kyowa Hakko Bio Co., Ltd. (Japan)
• Glanbia Plc (Ireland)
• Cargill Incorporated (US)
• ADM (US)
• International Flavors & Fragrances, Inc. (US)
• Fonterra Co. Operative Group Limited (New Zealand)
• BASF SE (Germany)
• Kerry Groups (Ireland)

Nutraceutical Ingredient Market Segmentation: