September 18, 2019
Worldwide food supplement ingredients market is expected to surpass US $2.2 billion by the year 2024, according to the latest research available at Market Study Report LLC, report provides extensively data on market share, growth, trends and forecasts for the period 2018-2024.
Increasing prevalence of chronic diseases due to adoption of unhealthy lifestyle, coupled with growing awareness regarding the benefits of supplement food ingredients are likely to augment the market growth. These products contain amino acids, omega-3 and numerous vitamins which supplement for the nutritional deficiencies caused by excessive consumption of processed food, hence triggering the product demand.
Based on the product type, vitamin-based food supplement ingredients market is presumed to witness 7% growth by the year 2024. Vitamins play an important role in red blood cells formation, neurological functions and DNA synthesis. These are widely used for reducing homocysteine levels and for treating cardiovascular diseases, thereby triggering the product demand.
As per the product form, food supplement ingredients market from powder segment was worth US $140 million in 2017. The powdered form is known to provide better texture, quality and taste as compared to conventional supplements. Increasing consumption of energy powders by sport persons will boost the segmental growth.
Considering the end use spectrum, food supplement ingredients market from pregnant women segment is predicted to register 6.5% growth over the forecast period. Surging cases of childbirth defects due to hectic lifestyle and increase in the number of working women will foster the product demand. These products provide essential nutrients like folic acid, iodine, calcium and iron, which reduce the chances of neural tube defects in infants.
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Based on the regional landscape, food supplement ingredients market in Europe is led by UK, France, and Germany and was worth US $175 million in 2017, owing to the ability of the product to aid weight management and prevent chronic diseases such as high blood pressure and diabetes.
The key players operating in the food supplement ingredients market include Nestle, BASF SE, Nutri-Force Nutrition, Groupe Danone S.A., Amway, Sunfood Nutraceuticals, and Pfizer Consumer Healthcare among others.