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Nutraceutical Ingredients Market worth USD 261.7 billion by the year 2027 | MarketsandMarkets

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MarketsandMarkets™
Nutraceutical Ingredients Market worth USD 261.7 billion by the year 2027 | MarketsandMarkets

The nutraceutical ingredients market refers to the industry that supplies various ingredients used in the production of nutraceutical products. Nutraceuticals are functional foods or dietary supplements that provide health benefits beyond basic nutrition. These products contain bioactive compounds derived from natural sources, such as plants, animals, and microorganisms, which promote health and well-being.


The nutraceutical ingredients market has experienced significant growth in recent years due to increasing consumer awareness and interest in preventive healthcare and overall wellness. Consumers are becoming more conscious of their dietary choices and are seeking products that can enhance their health and address specific health concerns.


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The global nutraceutical ingredients market is estimated to grow from USD 185.2 billion in 2022 to USD 261.7 billion by 2027. The compound annual growth rate is 7.2%. 


APAC is projected to account for the highest CAGR in the nutraceutical ingredients market during the forecast period.

Nutraceutical ingredients is projected to increase at a rapid rate in the APAC region due to a surge in demand and the presence of a large consumer base for food, beverages, dietary supplements, personal care products, and feed. This large consumer base being the reason for the highest market growth, as population in these regions increases.


The key players in this market include Associated British Foods Plc (UK), Arla Foods Ingredients Group P/S (Denmark), DSM (Netherland), Ingredion (US), Tate & Lyle (UK), Ajinomoto Co., Inc. (Japan), CHR Hansen Holdings A/S. (Denmark), Kyowa Hakko Bio Co., Ltd. (Japan), Glanbia Plc (Ireland), Fonterra Co. Operative Group Limited (New Zealand), Cargill Incorporated (US), ADM (US), International Flavors & Fragrances, Inc. (US), BASF SE (Germany) and Kerry Groups (Ireland). Strategic partnerships were the dominant strategy adopted by the key players, followed by expansions and new product launches. These strategies have helped them to increase their presence in different regions and industrial segments. These players in this Market are focusing on increasing their presence through agreements and collaborations. These companies have a strong presence in North America, Asia Pacific and Europe. They also have manufacturing facilities along with strong distribution networks across these regions.

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