Nutraceutical Ingredients Market Size

Nutraceutical Ingredients Market Size

Nutraceutical Ingredients Market was valued at USD 50.2 billion in 2023 and is predicted to showcase around 5.5% CAGR from 2024 to 2032.

The market growth is due to the expanding geriatric and obese population across the globe. The growing preference for balanced diets on account of the higher prevalence of chronic diseases and the surge in concerns pertaining to longer life spans are also some promising drivers accelerating the market penetration.

The rising consumer awareness regarding healthy diet consumption has led to an increase in food & food ingredients demand, thereby driving the nutraceutical ingredients market size. Food products that meet the growing consumer expectations of a healthy lifestyle have gained tremendous popularity over recent years, especially during the COVID-19 crisis. As health and nutrition continue to be the top priority among pandemic-weary consumers, the demand for functional food items is only expected to advance in the foreseeable future.
 

The substantial growth of a fiber-rich diet coupled with high nutritional supplement consumption is boosting the industry growth. The increasing prevalence of lifestyle diseases, gastrointestinal diseases, and increased personal care expenditure will induce the need for dietetic nutrition. Furthermore, shifting consumer perception toward dietary products along with the benefits such as control of cholesterol levels & blood sugar and improved bowel health is set to surface lucrative opportunities for the nutraceutical ingredients market.
 

The increasing consumer consciousness toward therapeutic products has led to the incorporation of probiotic cultures in various food products. The increasing product usage in food applications including yogurt-type drinks, berry soups, fruit juices, and cereal & soy-based fermented products will stimulate the human probiotic ingredients market. The rising consumption of dietary supplements including probiotics with beneficial effects on chronic diseases and the immune system will fuel the nutraceutical ingredients market outlook.