Latest Innovation in Global Nutraceutical Ingredients Market

The nutraceutical ingredients market is estimated to be valued at USD 162.1 billion in 2020 and is projected to reach USD 227.5 billion by 2025, at a CAGR of 7.0%. The growth of the nutraceutical ingredients market is driven by the growth in the demand for fortified food owing to the increasing health consciousness amongst consumers.

The key players in the nutraceutical ingredients market include Associated British Foods (Uk), Arla Foods (Denmark), DSM (Netherlands), Ingredion Incorporated (US), Tate & Lyle PLC (UK), Ajinomoto Co., Inc. (Japan), Tate & Lyle (Ireland), Chr. Hansen (Denmark), Kyowa Hakko Kirin Group (Japan), Glanbia plc (Ireland), Fonterra Co-operative Group Ltd. (New Zealand), Cargill (US), ADM (US), DuPont (US), BASF (Germany) are the players that hold a significant share in the nutraceutical ingredients market.

Associated British Foods (UK) is a major player in the nutraceutical ingredients market. Associated British Foods was previously known as Food Investments Ltd. and changed its name in 1982. The company is engaged in the processing and manufacturing of food, ingredients, and retailing. It operates through five business segments, namely, sugar, agriculture, retail, grocery, and ingredients. The ingredients segment manufactures bakers’ yeast, bakery ingredients, and yeast extracts. The company offers nutraceutical ingredients through the ingredients segment.

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The organization operates through its subsidiaries, such as AB Agri (UK), AB Mauri (UK), ABF Vista (UK), ABF Ingredients (UK), ABITEC Corporation (US), SPI Pharma (US), and Ohly (Germany). Among all subsidiaries of the company, ABF Ingredients (UK), ABITEC Corporation, and Ohly (Germany) holds significant market positions in the Americas, Europe, and Asia. SPI Pharma (US), is one of the prominent suppliers to the pharmaceutical, nutraceutical, and animal health products worldwide.

DSM is a global science-based company operating in the health, nutrition, and materials business. The company operates through five segments—nutrition, materials, innovation center, corporate activities, and partnerships. Its nutrition segment includes DSM Nutritional Products and DSM Food Specialties. The nutrition and food specialty segment of the company caters to different end-use application industries, such as food, feed, nutraceutical, infant nutrition, personal care, and pharmaceutical.

The company offers nutritional supplements, such as vitamins, carotenoids, nutritional lipids, omega acids, premixes, and astaxanthin for both human and animal nutrition. These products are developed under its DSM Nutritional Products business. The company offers its nutraceutical ingredient products for the dietary supplements and food & beverage industry.

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DSM offers feed additives through its animal nutrition & health division, which falls under the DSM Nutrition Products business. It offers a wide range of products that include carotenoids, eubiotics, vitamins, and feed enzymes for various animal species, such as aquaculture, poultry, ruminants, swine, and companion animals. The company operates in more than 40 countries with over 100 commercial production facilities.

According to a survey conducted by the International Food Information Council (IFIC), in 2009, 87% and in 2011, 89% of the consumers in the US agreed that certain foods have health benefits beyond their basic nutrition. This shows the consumers’ increasing interest in learning more about functional and fortified food products. In 2013, according to the Business Development Bank of Canada, "health concerns are rising, and health awareness is growing among Canadian consumers and will continue to accelerate as the population ages, with 25% of the population over the age of 65 by 2031." According to a study conducted by the United Nations Department of Economic and Social Affairs, in 2013, the rise in the aging population, coupled with increasing incidences of chronic diseases, has led to changes in eating patterns. Consumers’ concerns regarding nutrient inadequacy tend to be general in nature, rather than concern on a specific health condition or nutrient/component in their diet. Among the consumers who are concerned with nutrient inadequacy in food products, only 16% were concerned with the inadequacy of one or more specific nutrients without regard to general nutrient inadequacy. Most consumers are concerned about general health issues resulting from nutrient insufficiency, rather than one specific health problem. For nearly all the nutrients or food components surveyed, at least 6 in 10 consumers believed they get enough to meet their needs. Omega-3 fatty acids are the exception, as only 50% of consumers believed they get enough omega-3s to meet their needs