The Health Ingredients Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Health Ingredients Global Market Report 2024, The health ingredients market size has grown strongly in recent years. It will grow from $105.6 billion in 2023 to $114.35 billion in 2024 at a compound annual growth rate (CAGR) of 8.3%. The growth in the historic period can be attributed to cultural and ethnic health traditions, advancements in nutritional science, increased consumer health awareness, rising demand for functional foods, changing dietary patterns.
The health ingredients market size is expected to see strong growth in the next few years. It will grow to $157.25 billion in 2028 at a compound annual growth rate (CAGR) of 8.3%. The growth in the forecast period can be attributed to growing health consciousness, aging population demands, evolving consumer lifestyles, expansion of functional foods market, global health crisis response.. Major trends in the forecast period include rise in beauty-boosting ingredients, enhanced sports nutrition ingredients, incorporation of antioxidant-rich ingredients, utilization of ancient and traditional ingredients, exploration of sustainable sources.
The growing number of heart diseases and obesity-related problems is expected to propel the growth of the health ingredient market going forward. Heart diseases refer to heart and blood vessel problems, whereas obesity-related diseases refer to the consequences of having a body mass index of 30 or more. Incorporating health ingredients such as omega-3 fatty acids into meals helps to prevent or cure heart diseases by altering the production of substances in the body that lead to such conditions. For instance, in March 2022, according to World Obesity Atlas 2022 report, the estimated global number of people with obesity (Class I, II, and III) ≥30kg/m2 is expected to increase to 892 million by 2025 Furthermore, in December 2022, according to data published by New York government, in the United States, heart disease claims the lives of about 697,000 people annually, or 1 in every 5 fatalities where around 805,000 Americans experience a heart attack each year among which 605,000 of these result in a first-time heart attack, while previous heart attacks cause 200,000. Therefore, the growing number of heart diseases and obesity-related problems is driving the growth of the health ingredient market.
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The health ingredients market covered in this report is segmented –
1) By Type: Vitamins, Minerals, Probiotic Starter Cultures, Prebiotics, Plant And Fruit Extracts, Enzymes, Nutritional Lipids, Functional Carbohydrates, Proteins
2) By Source: Plant-Based, Animal-Based, Microbial-Based., Other Sources
3) By Function: Weight Management, Immunity Enhancement, Gut Health Management, Joint Health Management, Heart Or Cardiovascular Health Management, Eye Health Management, Brain Health Management, Other Functions
4) By Distribution Channel: Supermarket, Retail Store, Online Sales
5) By Application: Food And Beverages, Pharmaceuticals, Animal Feed, Personal Care
Product innovation is a key trend gaining popularity in the health ingredients market. Major companies operating in the health ingredient market are developing innovative products to sustain their position in the market. For instance, in August 2022, Youtheory, a US-based health, wellness, and fitness company, launched a new line of liquid nutrient packets and capsules that included K2D3, B12B6, and Ashwagandha. These simple-to-take capsules and ready-to-drink sachets offer a daily serving those aids in supporting overall mental and physical well-being. B12B6 liquid mix with complementary tablets helps boost brain health and vitality in a portable, easy-to-carry packet ideal for your hectic lifestyle. The KSM-66 organic full-spectrum extract, the most clinically backed Ashwagandha on the market, is used in the Youtheory Ashwagandha liquid and pill recipe. With the help of Youtheory K2D3, the body can use calcium effectively for several processes involved in regular metabolism. Additionally, K2 and D3 support each other in stimulating bone formation and cardiovascular health.
The health ingredients market report table of contents includes:
1. Executive Summary
2. Health Ingredients Market Characteristics
3. Health Ingredients Market Trends And Strategies
4. Health Ingredients Market – Macro Economic Scenario
5. Global Health Ingredients Market Size and Growth
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26. South America Health Ingredients Market
27. Brazil Health Ingredients Market
28. Middle East Health Ingredients Market
29. Africa Health Ingredients Market
30. Health Ingredients Market Competitive Landscape And Company Profiles
Top Major Players:
- Cargill Incorporated
- Archer Daniels Midland Co
- BASF SE
- Evonik Industries AG
- Associated British Foods PLC
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