Bioactive Ingredients Market Expected to Witness Strong Growth Owing to Rising Need for Packaged Food Products Among Consumers Worldwide
Bioactive Ingredients Market Overview:
The bioactive ingredients market can expect to capture a 7.3 percent growth between 2022 and 2030, touching almost USD 51.73 billion by 2030.
Bioactive Ingredients Market Growth Boosters:
The Bioactive Ingredients Market value is bolstered by the surging application scope in various end-use sectors including pharmaceutical, nutraceuticals, animal feed, and personal care, to mention a few. The surging focus on preventive healthcare among consumers has bolstered the sales of different products that contain high levels of bioactive ingredients like carotenoids etc.
The market size is also augmented by the rising inclination towards natural and organic ingredients among consumers, which compels the manufacturers to use bioactive ingredients in their products.
Bioactive Ingredients Market Opportunities:
Latin America and numerous emerging markets present attractive opportunities to the top brands, given the exploding population that is concerned about their personal wellness. The mushrooming elderly populace worldwide further present lucrative opportunities, as use of healthy-aging ingredients in various products continues to mount. The heightened popularity of numerous online channels also helps the players to bolster their consumer reach.
Top Key Players:
Cargill Inc. (US), Archer Daniels Midland Company (US), Koninklijke DSM N.V. (Netherlands), AJINOMOTO CO. INC (Japan), Ingredion Incorporated (US), FMC Corporation (US), Arla Foods amba (Denmark), E. I. du Pont de Nemours and Company (US), BASF SE (Germany), Roquette Frères (France), Mazza Innovation Ltd (Canada), Sabinsa Corporation (US), Nuritas (Ireland), Vytrus Biotech (Spain), Kuehnle AgroSystems (US)
Bioactive Ingredients Market Segment Overview:
Depending on ingredient type, the bioactive ingredients industry caters to carotenoids, prebiotic & amino acid, probiotic, phytoextract, omega three fatty acids, and more.
Major applications of bioactive ingredients are pharmaceuticals & nutraceuticals, food & beverages, animal feed, personal care, and others.
Key sources of bioactive ingredients are animal, microbial, and plant.
Regional Analysis:
Asia Pacific will be the leading market for Bioactive Ingredients Market in the years to come, thanks to the rising consumer awareness as well as mounting inclination towards natural and healthy products. People in the region are increasingly opting for healthy food that caters to every need for essential nutrients within the body. Animal feed developers are working on obtaining more output from the animals, owing to which they make use of various nutritious ingredients in animal feed, which can enhance the demand for bioactive ingredients in subsequent years. Plus, soaring awareness level regarding bioactive ingredients among medical professionals, and the thriving personal care sector that make extensive use of bioactive ingredients in products further augment the bioactive ingredients market position in the region.
Europe will, however, garner the fastest growth rate between 2020 and 2027, on account of the surging health care spending and the rise in lifestyle diseases. Surge in people’s inclination towards organic and natural ingredients instead of synthetic ingredients also bolsters the market worth in the region. Inadequacy in nutrition uptake owing to the prevailing hectic lifestyles and surge in co-prescription of regular drugs with bioactive ingredients foster the market demand. The flourishing nutraceutical and pharmaceutical industries in the region boost the growth rate of the European market as well.
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