Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Global Nutraceuticals Market projected to trigger by the rise in demand for fortified food due to the growing health consciousness among consumers
The global Nutraceuticals market expected to grow with a substantial CAGR during the forecast period, 2020-2027. With the increase of disposable income and health attention, stimulated by consumer demand, the nutraceuticals industry will have significant market potential in the future. Extraction of natural ingredients like Neem, Basil, Mango, Honey, Purple corn is used in medicines, healthcare products, and personal care products that lead to increasing demand for nutraceuticals products in the market.
Some healthy nutritional food companies are developing a new product that continually meets the diverse needs of consumers. Owing to, ensure quality and focused on technological improvements to produce high-quality nutritional health foods. Along with this, the technology of nutrition and health products industry closely related to biomedical technology. By applying biomedical technology to the nutrition and health products industry, will significantly improve the further development and expansion of the industry.
Moreover, fitness awareness across the globe is gradually increasing, and people pay more attention to the choice of health supplements they are using to maintain body weight or muscle gain to ensure significant effects of exercise. Therefore, this leads to an increase in the nutraceuticals market share.
Types Overview in the Global Nutraceuticals Market
Based on the type, global Nutraceuticals market classified into Probiotics, Proteins, Amino acids, Phytochemicals & Plant Extracts, and Fibers & Specialty Carbohydrates. The probiotics sector expected to witness the bolster market growth due to the increasing concerns among elderly consumers segment related to their skin. Probiotics add antioxidants in the cosmetics product, which provide a natural glow to the skin and helps in reducing aging signs. Thus, probiotics in the nutraceutical sector expected to emerge as the largest segment in the forecast period from 2020-2027.
Application Overview in the Global Nutraceuticals market
Based on the Application, the Global Nutraceuticals market segmented into Food and Beverages, Animal Nutrition, Dietary supplements, and Animal Nutrition. Among them, the Dietary supplements segment expected to lead the market growth in the forecast period. It is owing to the fitness strategy followed by consumers across the globe. People consider health as their primary concern and wanted to maintain nutritional supplements in their bodies to manage body weight or increase body mass. Additionally, the food and beverage sector has captured significant share during 2019 due to continuous innovation in the industry, which helps in enhancing the taste and flavor along with nutritional value required in the food and beverages.
Regional Overview in the global Nutraceuticals Market
Based on geography, the global Nutraceuticals market segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. Asia Pacific region witnessed growth in 2019 and expected to capture the largest share in 2020-2027. Owing to changing consumer lifestyles and increasing disposable income helps in the consumption of nutraceutical products. With an increase in the purchasing power, consumers are taking health as their primary concern, would influence the demand and supply of the Asia Pacific nutraceuticals market.
Global Chia seeds Market: Competitive Landscape
Companies such as Cargill, BASF, ADM, Omega Protein Corporation, DSM, Ingredion, Arla Foods, Tate & Lyle, Ajinomoto, DowDuPont, Chr. Hansen, Kyowa, Glanbia, Fonterra, Associated British Foods, Sigma-Aldrich, and Evonik are key prominent players in the global nutraceuticals Market.