Asia Pacific Nutraceutical Ingredients Market was at USD 74.65 billion in 2018 and is determined to reach USD 140.18 billion, recording a CAGR of 7.29% throughout the outlook period 2020-2025.
Nutraceutical is a term used to refer to fortified foods or foods obtained from dietary sources that not only supplement the diet, but also provide additional health benefits. Other terms used for nutraceuticals are medical foods, functional foods, and branded foods, etc. Companies have begun to include new ingredients in nutraceuticals such as plant sterols, polyphenols, probiotics, and fatty acids. They help provide medical benefits and treat or prevent disease by improving health conditions. They are gluten-free and do not include synthetic colors and flavors, which makes them a healthy option over conventional products. The health benefits derived from nutritional supplements are much more effective than primary nutritional food products. These health benefits include reducing the risk of chronic diseases other than physical or psychological contact, restoring basic nutritional functions, stimulating growth, and increasing functions of the body or mind.
Market Drivers and Restraints:
The increase in the incidence of chronic diseases has caused changes in the eating habits of people. Consumers' concerns about nutrient insufficiency tend to be general in nature, rather than being concerned with a specific health condition or specific nutrient/component in their diet, regardless of general nutrient deficiency. Consumers are concerned about general health problems that result from nutrient deficiencies, rather than a specific health problem. For almost every nutrient or food component studied, at least 6 out of 10 consumers believed they had enough to meet their needs. Omega-3 fatty acids are the exception, as only 50% of consumers believe they are getting enough omega-3s to meet their needs. Nutraceutical ingredients find a wide variety of applications, such as functional foods and beverages, animal nutrition, pharmaceuticals, and personal care products. However, the inclusion of nutraceutical ingredients in food and beverage products, food products, pharmaceuticals, and personal care products results in higher prices for these finished products. This, in turn, leads to less adoption of these products, retarding market growth. In recent years, there has been an increase in demand for healthy alternatives to consumables as consumers are becoming more aware of good nutrition. Nutraceutical ingredients, when added to any type of food and beverage product, result in the formation of functional foods and beverages, which in some way confer a health benefit.
The Asia Pacific Nutraceutical Ingredients market is segmented by Types, Form, Health Benefit, and Application.
The market, by type, has been segmented into pre and probiotic, protein, mineral, vitamin, carotenoid, fiber, and phytochemicals. The probiotics segment is expected to be the largest segment during the foreseen period.
The APAC nutraceutical ingredients market, by application, has been segmented into food, dietary supplement, and animal nutrition. The Dietary Supplements segment is expected to experience the fastest growth, per application, during the forecast period.
Based on form, the market is mainly bifurcated into dry and liquid. Several nutraceutical ingredients used in dry form are vitamins, amino acids, prebiotic and probiotic premixes, proteins, and certain minerals such as zinc and folic acid. These ingredients are extracted in dry form from various sources. For example, vitamin C is extracted from the acerola plant, protein powder, and fibers and amino acids from the hemp plant.
Based on the health benefit, the local market is separated into gut health, heart health, bone health, immunity, nutrition, and weight management.
Although Coronavirus had its worst impact on the F&B sector, it is touted to act positively for the nutraceutical ingredients market. The increasing emphasis on improving immunity and disease resistance among consumers is supposed to boost sales of dietary supplements, which will promote the nutraceutical ingredients business in the Asia Pacific and the whole world going ahead.
The Asia Pacific Nutraceutical Ingredients market has been categorized based on geography into China, Taiwan, South Korea, India, Japan, Australia, and New Zealand. The Asia-Pacific nutraceutical ingredients market is entirely driven by India, which accounted for almost 31.5% of the market share in 2019. The country is also expected to be the fastest-growing country in the region in nutraceutical ingredients due to changes in lifestyles and diets and increased awareness of nutrition. Additionally, rising hospital costs are also driving consumer demand for supplements and other nutrients such as vitamins and minerals to maintain their health. Consumers across the country are now willing to spend the additional amount on fortified products, which has increasingly helped nutraceutical ingredient manufacturers find substantial market opportunities.
Ajinomoto Co. Inc. had the largest share of the Asia Pacific Nutraceutical Ingredients Market in terms of sales and revenue in 2021.
Major players in the Asia Pacific Nutraceutical Ingredients Market include Nestle Sa., Ajinomoto Co. Inc., General Mills, Inc., Dean Foods Company, Danone Sa, Associated British Foods Plc, Basf Se, Glaxosmithkline Plc, Dupont De Nemours & Company, Ingredion Incorporated, Royal Dsm N.V., Archer Daniels Midland Company, Arla Foods Deutschland Gmbh, E.I.D.-Parry (India) Ltd, Pepsico Inc, and Cosucra Group Warcoing SA.
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3.1 Executive Summary
3.2 Key Inferences
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1.2 Dry Form
5.1.3 Liquid Form
5.1.5 Y-o-Y Growth Analysis, By Form
5.1.6 Market Attractiveness Analysis, By Form
5.1.7 Market Share Analysis, By Form
5.2.2 Pre and Probiotic
5.2.9 Y-o-Y Growth Analysis, By Type
5.2.10 Market Attractiveness Analysis, By Type
5.2.11 Market Share Analysis, By Type
5.3.3 Dietary Supplement
5.3.4 Animal Nutrition
5.3.5 Disease Risk Assessment
5.3.6 Other Applications
5.3.7 Y-o-Y Growth Analysis, By Application
5.3.8 Market Attractiveness Analysis, By Application
5.3.9 Market Share Analysis, By Application
5.4 Health Benefit
5.4.2 Gut Health
5.4.3 Heart Health
5.4.4 Bone Health
5.4.7 Weight Management
5.4.8 Y-o-Y Growth Analysis, By Health Benefit
5.4.9 Market Attractiveness Analysis, By Health Benefit
5.4.10 Market Share Analysis, By Health Benefit
6. Geographical Analysis
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
184.108.40.206 By Geographical Area
220.127.116.11 By Form
18.104.22.168 By Type
22.214.171.124 By Application
126.96.36.199 By Health Benefit
6.1.4 Market Attractiveness Analysis
188.8.131.52 By Geographical Area
184.108.40.206 By Form
220.127.116.11 By Type
18.104.22.168 By Application
22.214.171.124 By Health Benefit
6.1.5 Market Share Analysis
126.96.36.199 By Geographical Area
188.8.131.52 By Form
184.108.40.206 By Type
220.127.116.11 By Application
18.104.22.168 By Health Benefit
6.5 South Korea
7.1 PESTLE analysis
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8.Market Leaders' Analysis
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 E. I. du Pont de Nemours and Company
8.3 BASF SE
8.4 Archer Daniels Midland Company
8.5 Associated British Foods plc
8.6 Koninklijke DSM N.V.
8.7 Ingredion Incorporated
8.8 Ajinomoto Co. Inc.
8.9 Arla Foods
8.10 Tate & Lyle PLC
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10.Market Outlook and Investment Opportunities
a) List of Tables
b) List of Figures