Chicago, IL—The Nutraceutical Ingredients Market is projected to grow from $152 billion in 2019 to $228 billion by 2025, according to a press release regarding a market research report from MarketsandMarkets.
Major factors driving the growth of the market include increasing consumer demand for fortified food and beverages, rising incidences of chronic diseases, and government mandates on food fortification, the press release says.
- CAGR of 7%
- Personal care segment is projected to grow faster than dietary supplements, food or beverages, thanks to a trend towards personal care.
- Probiotics is projected to take the largest market share, beating out proteins, plant extracts, omega-3s, and vitamins, among others. The health benefits associated with probiotics, particularly with regard to gut function, are driving this segment.
- The Asia Pacific region will grow the fastest, thanks to rising incomes and purchasing power.
A few of the major vendors in this area, the release says, include Cargill, Arla Foods, Chr. Hansen, Kyowa, and Glanbia.
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