Transparency Market Research’s new market research report, titled ‘Nutraceutical Ingredients Market – Global Industry Analysis, Market Size, Share, Growth And Forecast 2007 – 2017’, states that the global nutraceutical ingredients market is expected to reach US$29.5 billion by 2017 from a market value of US$20.8 billion in 2012.

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Due to the rising need for essential products that provide therapeutic, medicinal, or pharmacological benefits besides providing nutrition, the demand for nutraceutical products has rapidly increased across the globe. According to the study report, the market is growing at an impressive CAGR of 7.3% from 2012 to 2017. Nutraceutical ingredients are basic elements required for accomplishing various purposes related to health.

These ingredients are highly effective when it comes to prevention of chronic diseases that may occur due to nutrient deficiency in the body. The study reports nutraceutical ingredients as the key functional constituents of nutraceuticals. These ingredients are found in diverse forms, ranging from naturally occurring substances, chemical compounds, to bioactive substances. However, their purpose to promote health, well-being, and prevent diseases remains common across all these forms.

The main growth factor of the nutraceutical ingredients market is the reliability and awareness of the nutraceutical products and the rapidly increasing customer base across the globe. In addition, the growing geriatric population, coupled with the rising incidence of chronic diseases, has spurred numerous concerns pertaining to health in the global population. Such concerns have fuelled the market for nutraceuticals and nutraceutical ingredients to a great degree. According to the study, today, more consumers are picking healthier food products while shopping. The focus is shifting from mere hunger satisfaction to meeting nutritional needs.

Food products packed with nutraceutical ingredients help in the prevention of nutrient deficiency and fight various disorders in the body. Owing to the rapid growth in the consumption of nutraceutical ingredients and products worldwide, the demand from the nutraceutical ingredients market is growing rapidly across developing economies.

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At present, developed countries aren’t the only regions to have high demand for nutraceutical ingredients; the concept of nutraceutical ingredients and related food products is also rapidly emerging in the developing regions. These developing regions have a significant scope of development and exploration in the nutraceutical ingredients market in the near future. Nutraceutical ingredients find their use in applications such as functional food and beverages, dietary supplements, personal care products, as well as the animal nutrition industry.

The report also discusses elements such as prebiotics, fibers and specialty carbohydrates, probiotics, peptides and proteins, phytochemicals and plant extracts, minerals, vitamins, carotenoids and antioxidants, amino acids, omega 3, and structured lipids as some of the major drivers responsible for growth of this market.

Moreover, the report lays forth a detailed landscape of the nutraceutical ingredients industry by analyzing regional markets such as North America, Eastern Europe, Western Europe, Latin America, Asia Pacific, and MEA for the forecast period 2007-2017. According to the study report, the Asia Pacific and North America nutraceutical ingredients markets are expected to hold a market share of 30.4% and 39.2%, respectively, by 2017. Growth of the nutraceutical ingredients market in Asia Pacific and North America will be due to the rapid growth of the dietary supplements market until 2017.