New York, NY, March 30, 2017 --(PR.com
)-- Axiom MRC published a Global report on the Nutraceutical Ingredients Market. The market is dominated by key companies such as Cargill Inc, Du Pont, BASF SE, ADM Company, Associated British Foods PLC, DSM N.V., Ingredion Incorporated, Arla Foods, Tate & Lyle PLC, Ajinomoto Inc. among others. The Global Nutraceutical Ingredients Market is estimated to grow at a CAGR of 6.7% from 2018 to 2023 to reach USD 44501.7 million by 2023.
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The Global Nutraceutical Ingredients Market is mainly segmented by Type of Ingredients, Application and Geography. On the basis of types of ingredient, the market is segmented into Prebiotics, Probiotics, Omega-3 Fatty Acids, Amino Acids, Minerals, Vitamins, Phytochemicals and Plant Extract, Specialty Fibers and Carbohydrates, Carotenoids and Others which include Glucosamine, Chondroitin, etc. Further the market is segmented on the basis of applications such as, Functional Food, Functional Beverages, Dietary Supplements, Animal Nutrition and Personal Care. The market is studied for various countries of key regions such as North America, Europe, Asia-Pacific and Rest of the World which include Latin America, Middle East and Africa.
The Asia-Pacific market was estimated to be the fastest growing market due to improving economic conditions and high standard of living which is driving the growth of nutraceutical ingredients market. Functional Food is the largest application market of the nutraceutical ingredients. Phytochemicals & Plant Extract ingredients is the largest ingredients segment and growing at a fastest growth rate globally.
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The report includes market size estimated in terms of value (in USD million) and volume (in tonne) for the base year 2016 and projected from 2017 to 2023. The report also includes detailed analysis of market drivers, restraints, regulatory, key trends and market competitive landscape of the nutraceutical Ingredients market.
The factors driving the global nutraceutical ingredients market are Increasing chronic disease, increase in life expectancy & healthy awareness among consumers, growth of nutraceutical ingredients applications and Increase in demand from emerging countries. The factors hindering the market growth are Strict regulatory standards in different countries, Highly expensive R&D, etc.
Axiom MRC estimated and forecasted the global nutraceutical ingredients market through its Qual-Quant data modeling tool, which is an in-house developed tool based on the fundamentals such as Top Down and Bottom Up approaches. The data model compares ingredients market, food processing, beverage etc. markets to estimate and validate the qualitative and quantitative findings across various countries. It also allows to analyze the market value chain in comparison with main market i.e. global ingredients market to arrive at holistic and factual findings of the markets.
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