Global Health Ingredients Market Poised for Significant Growth, Reaching USD 146.3 Billion by 2027
DUBLIN, July 13, 2023
DUBLIN, July 13, 2023 /PRNewswire/ --The "Health Ingredients Market - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The global market for health ingredients is anticipated to experience substantial growth in the coming years, with a projected value of USD 146.3 billion by 2027.
According to the latest report, the market is estimated to be valued at USD 100.5 billion in 2022, growing at a CAGR of 7.8% during the forecast period.
Health ingredients play a pivotal role in providing unique health benefits and aiding in the treatment and prevention of various health conditions. The most commonly used health ingredients include vitamins, proteins, probiotics, prebiotics, functional carbohydrates, enzymes, minerals, and nutritional lipids. The demand for functional foods fortified with health ingredients has witnessed significant growth in recent years, driven by an aging population and increasing consumer awareness, particularly in developing countries.
Among the different types of health ingredients, the probiotics starter culture segment is expected to achieve the highest compound annual growth rate (CAGR) throughout the forecast period. Probiotics have gained significant attention for their digestive benefits, immune system enhancement, weight management support, and other health advantages. Studies have shown that probiotics can effectively alleviate symptoms of irritable bowel syndrome (IBS) and improve overall gut health. This growing awareness about the health benefits of probiotics is expected to drive the market in the coming years.
The plant-based segment, categorized by source, is projected to hold the largest market share during the forecast period. The increasing adoption of veganism, growing health consciousness, and rising concerns for animal welfare have significantly influenced the demand for plant-based foods. According to the Good Food Institute, plant-based food sales reached $7.4 billion in 2021, growing at a rate three times faster than overall food sales.
In terms of application, the food segment is anticipated to achieve the highest market share throughout the forecasted period. Health ingredients are used as food additives or supplements to offer functional benefits such as immune system support, digestion aid, mental health promotion, beauty enhancement, and cardiovascular health improvement. These ingredients play a crucial role in treating and preventing digestive disorders, including irritable bowel syndrome, bloating, constipation, diarrhea, heartburn, reflux, and flatulence.
- Increased Consumption of Fortified Foods Due to Growing Health Consciousness to Drive Market Growth
- China and Proteins Accounted for Largest Shares in 2021
- India to Grow at Highest CAGR During Forecast Period
- Europe Dominated Health Ingredients Market Across All Applications in 2022
- Proteins Segment to Account for Largest Share by 2027
- Plant-Based Segment to Account for Largest Share by 2027
- Food Application Accounted for Largest Share in 2022
- Shift in consumer preference from nutrition-based to health-specific food
- Increasing instances of chronic diseases
- Rising demand for fortified food and beverage products
- R&D and expansion of production capacity to enhance applicability and accelerate growth
- Pricing complexities related to newly introduced health ingredients
- Rising instances of allergies and intolerances related to soy ingredients
- Shift toward plant-based health ingredients
- Consumer awareness of micronutrient deficiencies
- Complexities related to integration and adulteration issues in health ingredients for functional food products
- Adherence to stringent international quality standards and regulations
The report profiles several key players in the health ingredients market, including:
- Archer Daniels Midland Company
- Associated British Foods PLC
- International Flavors & Fragrances Inc.
- Kerry Group PLC
- BASF SE
- Cargill Incorporated
- Arla Foods
- Tate & Lyle
- Royal FrieslandCampina N.V.
- Glanbia PLC
- CHR Hansen Holdings A/S
- Fonterra Co-Operative Group Limited
- Balchem Inc.
- Martin Bauer
- Roquette Freres
- Divi's Laboratories
- Nutraceuticals Group
- Conagen, Inc.
- Beneo Gmbh
- Sydler India Pvt. Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/83bj8y
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