Image courtesy of Global Market Insights
With consumers worldwide turning more and more health conscious, food and ingredient manufacturers are focusing on launching products targeted toward the wellness needs of people of all ages. This escalation for fortified and functional foods has paved the way for the growth of the nutraceutical ingredients industry.
The soaring concerns over improper nutrition and the intensifying rate of obesity have led to changes in meal consumption trends. In addition, changing lifestyle patterns and the multifold increased consumption of junk food have resulted in an influx of new diet health paradigms. Besides obesity, heart disease continues to be a leading cause of death in most developing countries worldwide, followed by osteoporosis, cancer and arthritis among many others.
To that end, nutraceutical ingredients are gaining widespread prominence in combating present-day major health issues, delaying the aging process and increasing life expectancy. The increasing global population and emerging health trends have led to the introduction of several food products for modifying and maintaining the normal physiological functions in humans, in turn making the food industry a research-oriented sector.
Consequently, the nutraceutical ingredients market outlook is expected to remain positive, strongly supported by the rising number of research activities to bring enhancements in plant-based ingredients and naturally derived pharmaceuticals. To illustrate, in December 2021, Roquette disclosed its plans for building an Innovation Center in the U.S. with an investment of $25 million. The new state-of-the-art facility, located in Pennsylvania, will help in advancing the research of nutraceutical active pharmaceutical ingredients (APIs) for improving the speed to market.
As per estimates from Global Market Insights Inc., the nutraceutical ingredients market size will exceed an annual revenue of over $75.1 billion by 2028. The increasing intake of supplements is further making way for innovative breakthroughs—say for instance—half powder, half liquid capsules, allowing consumers to leverage the maximum potential of vitamins.
Collective Inclination for Probiotics to Accelerate Nutraceutical Ingredients Demand
On account of their prolific importance in countering specific gastrointestinal conditions and improving skin conditions as well as urinary and vaginal health, probiotics are currently revolutionizing the food and supplements industry. The swiftly expanding lactose intolerant population has led to a rise in the demand for vegetarian products, subsequently leading to a higher intake of non-dairy probiotics.
Lately, with the rising influx of product innovations, dried and HRB probiotics have gained immense traction for human consumption. The growing technological advances in the production of probiotics, along with the enhancements in nanotechnology, immobilization and microencapsulation techniques are also expected to play a crucial role in the nutraceutical ingredients industry expansion.
The use of probiotics is soaring to considerable heights in verticals like cosmetics apart from wellness and nutrition. To cite an instance, in May 2022, DSM merged with Switzerland-based flavors and fragrance provider, Firmenich. Through the collaboration, the companies will enhance the nutritional profiles of foods with probiotics, vitamins and lipids while innovating in clean-label products and plant-based foods.
Increasing Emphasis on Production Expansion and Investment Initiatives to Augment Nutraceutical Ingredients Market Share
Considering its plans of increasing the capacity for vitamin A powder to meet the higher vitamin A acetate production demand, BASF in July 2022 expanded its volume for world-scale vitamin A formulation at its Verbund site, located in Ludwigshafen.
This state-of-the-art facility is fully integrated for vitamin production at the site for supporting and further expanding the production of top-quality vitamin A powder products to cater to the animal nutrition industry. The close integration of this powder plant facility into BASF’s Verbund is expected to ensure efficient use of resources and the best-in-class CO2 footprint.
2. ADM invests in starch production for accelerating carbohydrate solutions
In order to cater to the rising demand from industrial customers and food and beverage sectors for plant-based ingredients, leading food commodities provider ADM in May 2022 substantially invested in its starch production facility. This initiative is part of its mission of accelerating the carbohydrate solutions platform, BioSolutions. This Minnesota-based project is anticipated to be completed by the third quarter of 2023.
In the years ahead, the nutraceutical ingredients industry is likely to depict strong growth across most parts of the world, as companies continue to implement result-oriented strategies. To illustrate, Cargill in April 2022 expanded its RadiPure pea protein across India and the Middle East, Turkey, and Africa (META) in a bid to help food and beverage manufacturers across these regions in responding to the evolving marketplace trends.
Additionally, the thriving focus of supplement manufacturers on forging innovations in order to maximize the formula’s bioavailability will augment the consumption of nutraceutical ingredients.
Deepak Bandal is senior SEO executive for Global Market Insights.
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