Bioactive Ingredient Market Is Forecast To Reach $51.71 Billion By 2024 | Market Research Report
The global bioactive ingredient market is expected to reach USD 51.71 billion by 2024, according to a new report by Grand View Research, Inc. Increasing disposable income coupled with growing health awareness among consumers is expected to aid the market growth. Their functional properties are capable of acting on the human metabolism physiology by providing potential health benefits.
The extraction of these bioactive compounds from original sources provides ample opportunities for adding value to food products and also improves the dietary patterns of the changed consumer’s lifestyle. They also help in preventing diseases related to heart, cancer, degenerative forms and Alzheimer’s.
Marine environment is a significant source for yielding bioactive components. Consumption of long-chain fatty acids by some fish species is strongly associated with protection from coronary heart diseases (CHD). Fish Origin Omega 3 PUFA oil are claimed to have a lot of health benefits related to a person’s diet.
Recently, it has been reported that there is an increasing demand for fish oils and fish oil fortified products across various regions. Marine organisms are potentially identified for calcium, antioxidants, anti-hypertensive proteins, selenium, and chitin. Their usage in functional food segment is regarded as the most important part and is expected to affect the overall market over the next eight years.
However, extraction of medicines derived from plants is affecting the environment by causing deforestation and is expected to affect the industry critically over the forecast period. Also, to meet the rising consumer’s interest for these products, manufacturers is putting a lot of pressure on the marine organisms.
Recent technological advances such as microencapsulation are adopted for protecting bioactive ingredients from unwanted reactions and oxidation. There is a rising demand among manufacturers to find suitable solutions that provide higher productivity and adequate quality of the final products.
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Further key findings from the report suggest:
- Fibers were the leading product segment and accounted for over 25% of global revenue in 2015. The effectiveness of fibers and rising awareness regarding its benefits are the primarily attributed reasons for this scenario.
- Functional food & beverage product segment is expected to witness the highest CAGR of 7.4% over the forecast period. The consumers owing to its potential health benefits prefer this segment.
- Asia Pacific was the leading consumer and accounted for over 35% of total revenue in 2015. The region is also expected to witness the highest growth of 7.5% over the next eight years. Changing lifestyle coupled with rising health consciousness among people particularly in China and India is drive the regional growth.
- Key industry participants include Mazza Innovation Ltd., Sabinsa Corporation, Ingredion Incorporated, BASF, Cargill Inc, Ajinomoto Co. Inc, Archer Daniel Midland Company and DuPont.
Grand View Research has segmented the bioactive ingredient market on the basis of product, application and region:
Global Bioactive Ingredients Product Outlook (Revenue, USD Billion, 2014–2024)
- Fiber
- Vitamins
- Omega 3 PUFA
- Plant extracts
- Minerals
- Carotenoids & antioxidants
- Probiotics
- Other types
Global Bioactive Ingredients Application Outlook (Revenue, USD Billion, 2014–2024)
- Functional food & beverages
- Dietary supplements
- Clinical Nutrition
- Personal care
- Other products
