Nutraceutical Ingredients

Published November 2023

Nutraceuticals, according to the widely accepted definition, are types of foods or drinks that, through addition of certain active ingredients, can offer health benefits beyond the basic nutritional values other foods offer. Health benefits could be physiological or mental, reducing the risk of chronic diseases beyond providing basic nutritional functions, promoting growth, and enhancing the performance of body and/or mind.

The nutraceuticals market is comprised two principal segments — functional foods and dietary supplements. Overall, functional foods represented the larger segment, as most regional nutraceutical markets primarily focus on functional food delivery forms. North America has traditionally been the largest market for dietary supplements, and it will maintain the leadership in driving the segment’s development.

World consumption of nutraceutical ingredients is projected to grow at 4%-5% per year on a volume basis over 2023– 28. Demand is led by North America, Western Europe, mainland China and Southeast Asia and Oceania, while growth will be driven by developing economies, primarily the Indian Subcontinent, mainland China, Central and South America and Central and Eastern Europe.

The following pie chart shows consumption of nutraceutical ingredients in the major regions (by volume):

In general, growth in the consumption of nutraceutical ingredients is driven by the aging population, rising awareness of health and wellness among consumers, changing lifestyles and increasing disposable income. In addition, the outbreak of COVID-19 has driven surging demand for immune-boosting ingredients over the past three years, which has led to an increased supply, supported by significant investments and acquisitions.

For more detailed information, please see the table of contents listed below.

S&P Global’s Specialty Chemicals Update Program – Nutraceutical Ingredients is the comprehensive and trusted guide for anyone seeking information into this industry. This latest report details global and regional information, including

Key Benefits

S&P Global’s Specialty Chemicals Update Program – Nutraceutical Ingredients has been compiled using primary interviews with key suppliers and organizations, and leading representatives from the industry in combination with S&P Global’s unparalleled access to upstream and downstream market intelligence and expert insights into industry dynamics, trade and economics.

This report can help you

• Identify the competitive environment and key players
• Assess key issues facing both suppliers and their end-use customers
• Understand industry integration strategies
• Keep abreast of industry structure changes, regulatory requirements and other factors affecting profitability
• Identify new business opportunities and threats
• Follow important commercial developments
• Recognize trends and driving forces influencing specialty chemical markets