Bioactive Ingredients Market Overview:
The bioactive ingredients market is expected to grow at a considerable rate of 7.3 percent, reaching a market value of USD 51.73 billion.
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.
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.
Segment Overview:
The global bioactive ingredients market has been segmented based on ingredient type, application, source, and region.
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.
North America stands as a highly profitable market for bioactive ingredients. The US stands at the vanguard of the North American market, while Canada is making rapid progress at the same time. The US market benefits largely from the soaring number of awareness programs introduced by various non-profit organizations, combined with the existence of a humungous pool of renowned players. The thriving cosmetic industry and its emergence as a key end-user in the region also facilitate market demand.
Key Contenders:
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) are the Key Bioactive Ingredients Market Players.
The global industry is rife with numerous brands that spend substantially on research and development, while undertaking strategies like expansions, product launches, agreements, acquisitions, partnerships as well as mergers. Such strategies help the brands firms bolster their positions and also enhance the market value in the process.
Recent Developments:
April 2022: Purina Pro Plan Veterinary Supplements confirms that Calming Care, its probiotic brand that facilitates calmness among dogs, is now also for cats. Calming Care is a popular product among owners with cats experiencing anxiety including placing or hiding. It is a probiotic supplement that has a strain of good bacteria that helps cats and dogs in maintaining calm behavior.
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