Due to the growing need for essential supplements that provide therapeutic, medicinal, and pharmacological benefits besides providing nutrition; the demand for nutraceutical products has rapidly increased across the globe. Nutraceutical ingredients are basic essential elements required for the body’s immunity. They are highly effective in the prevention of chronic diseases, which may occur due to nutrient deficiency in the body. These ingredients are found in diverse forms ranging from naturally occurring substances and chemical compounds to bioactive substances. However, their purpose to promote health and well-being and prevent diseases remains the same across all forms.
Key factors driving the global nutraceutical ingredients market are the rising reliability of and awareness about nutraceutical products and rapidly expanding customer base across the globe. In addition; increasing geriatric population along with the rising prevalence of chronic illnesses has spurred alarms relating to health of the global population. These factors are anticipated to fuel the market for nutraceuticals and nutraceutical ingredients significantly from 2017 to 2025. The shift in consumer preference for healthier food products while shopping, in order to meet their nutritional needs, is fueling the global neutraceuticals market. Food products containing nutraceutical ingredients help in the prevention of nutrient deficiency as well as various disorders. Owing to increase in the number of clinical evidences supporting health benefits of neutraceuticals and rapid rise in the consumption of nutraceutical products worldwide, the nutraceutical ingredients market is expanding rapidly across developing economies.
At present, developed countries are not the only geographies to witness high demand for nutraceutical ingredients. The concept of nutraceutical ingredients and related food products is rapidly emerging in developing countries also. Countries such as China and India are primary consumers of nutraceutical ingredients for production of different food supplemental and pharmaceutical products. These countries are witnessing increasing per capita income, growing adoption of sedentary lifestyle, and rising demand for nutritional food. These developing countries are estimated to offer a significant opportunity for growth of the nutraceutical ingredients market in the near future. Nutraceutical ingredients are used in applications such as functional food and beverages, dietary supplements, personal care products, and animal nutrition products. Based on element, the nutraceutical ingredients market can be segmented into prebiotics, fibers & specialty carbohydrates, probiotics, peptides & proteins, phytochemicals & plant extracts, minerals, vitamins, carotenoids & antioxidants, amino acids, omega 3, and structured lipids.
Geographically, the global nutraceutical ingredients market can be segmented into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. Growing population and rapid urbanization in emerging economies of Asia Pacific are expected to drive the nutraceutical ingredients market in the region during the forecast period. Developing countries in the region are likely to witness rising demand for nutraceuticals in the next few years.
Key players operating in the global nutraceutical ingredients market are Cargill Inc., E.I. du Pont de Nemours and Company, Tate and Lyle North America Inc., BASF SE, Archer Daniels Midland Company, Ajinomoto Co., Inc., Koninklijke DSM N.V., Associated British Foods plc., Ingredion Incorporated, Danisco A/S, and NutraMarks, Inc.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
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- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.