Global Nutraceuticals and Processing Technologies Market: Overview
The wide-ranging benefits of nutraceuticals in terms of the high nutritional value they impart to foods and beverages and the effectiveness they promise in preventing and treating a number of diseases have led to an increased interest in the field of nutraceuticals and processing technologies in the past few years. The global demand for nutraceuticals-rich products has significantly increased in the past few years and the trend is to continue to remain popular in the near future as well.
Analysts estimate that the rise in consumer base for nutraceutical products will lead to an encouraging rise in investment towards research and development and the number of companies participating in the market will also rise. On a whole, the market will witness dynamic changes in its growth prospects in the years to come, and an extension in set of applications that the market for nutraceuticals presently serves.
This report on the global nutraceutical and processing technologies market gives a detailed account of the market and its key segments in the present scenario and forecasts their growth prospects over the period between 2016 and 2024. The report includes an analysis of forces that are significantly influencing the overall growth dynamics of the market, including the promising growth drivers and opportunities, trends, and challenges. The report also presents an overview of the regulatory framework of the market and a detailed analysis of the competitive landscape of the market.
Global Nutraceuticals and Processing Technologies Market: Drivers and Restraints
The market for nutraceutical and processing technologies has witnessed growth at a significant pace in the past few years. Key factors attributed to this are the vast rise in the prevalence of chronic diseases such as diabetes and the significant rise in the number of obese people on a global front. The market accounts for less than 10% of the overall valuation of the global food industry, but the market is considered highly lucrative owing to the high costs of products and a substantial rise in demand from consumers.
The global consumer is becoming increasingly aware of the vast health benefits associated with the use of nutraceuticals, such as delayed ageing, improved life expectancy, and prevention of chronic diseases. Such rise in consumer awareness coupled with the increased affordability of nutraceutical-rich products, especially across key emerging economies, are expected to fuel market’s growth over the report’s forecast period.
However, the high cost structure of nutraceuticals and associated products is expected to emerge as a restraint for the growth of the market, especially across certain cost-sensitive regional markets. Pressures to reduce costs of products in the nutraceutical and processing technologies market, which are commonly associated with high manufacturing cost and expensive raw material, will hamper the profit margins of companies operating in the market.
Global Nutraceuticals and Processing Technologies Market: Segmentation
The report segments the global nutraceuticals and processing technologies market on the basis of criteria such as end use, application, and geography. The key uses of nutraceuticals are found across dietary supplements, functional foods, and medicinal foods. Key applications of nutraceuticals are found across areas such as pain relief, body building, weight control, and diabetes control. On the basis of geography, the market for nutraceuticals and processing technologies across region such as North America, Europe, Asia Pacific, Middle East, and Africa is analyzed in the report.
Companies Mentioned in the Report
The market is expected to present promising growth opportunities to companies who can practice proper business partnership models, and target the right consumers with the right products. Some of the key vendors operating in the market are BASF Group, Johnson and Johnson group, Cadbury, Bayer Healthcare, Cargill, Jordan Cereals, Clif Bar & Company, and Herbal Life International of America.