The global Health Ingredients market size was valued at USD 100.5 billion in 2022 and is expected to expand at a CAGR of 7.8 Percent during the forecast period, reaching USD 146.3 billion by 2027. Healthy ingredients are being used on a large scale in the food and beverage industry.
The demand for health ingredients such as omega-3, vitamins, omega-6, and probiotics is increasing due to consumers' changing lifestyles, shifting demographics, and growing nutrition and health concerns. As people focus more on fitness, well-being, and holistic nutrition, there is a rapid expansion in the demand for these health ingredients.
Among the different types of health ingredients, protein supplements are projected to have the highest market share in terms of value throughout the forecast period. The COVID-19 pandemic has contributed to the growth of protein supplement intake as people look to strengthen their immune systems. A survey conducted by Glanbia PLC in the US revealed an increase in the consumption of protein bars to maintain health and immunity during the pandemic.
In terms of sources, plant-based health ingredients are expected to dominate the market during the forecast period. Changing consumer preferences, especially a shift from meat-based products to plant-based alternatives, is a significant driver for the market. Plant-based ingredients serve as a major source of vitamins, proteins, and other health components for vegans and individuals with animal-derived ingredient allergies.
The pharmaceutical products segment is projected to achieve the highest compound annual growth rate (CAGR) among different applications. Health ingredients are incorporated into pharmaceutical products to provide various benefits, including antioxidant action, blood sugar control, osteoporosis prevention, heart health, stress reduction, beauty enhancement, and weight management.
The Asia Pacific (APAC) region is expected to account for the highest market share in the forecast period. With a large population of millennials and their increasing focus on fitness, the APAC region presents significant growth opportunities for health ingredients. This population actively seeks innovative products and plays a crucial role in consuming dietary supplements to achieve optimal nutrition.
The major players covered in the Health Ingredients market report are:
Archer Daniels Midland Company (ADM), Associated British Foods PLC, International Flavors & Fragrances Inc., Kerry Group PLC, DSM, BASF SE, Cargill Incorporated, Ingredion, Arla Foods, Tate & Lyle, Lonza, Royal FrieslandCampina N.V., Glanbia PLC, CHR Hansen Holdings A/S, and Probi. These companies have adopted strategies such as strategic partnerships, expansions, and new product launches to increase their presence in different regions and sectors.
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