The global Health Ingredients market witnessed remarkable growth, reaching a value of USD 100.5 billion in 2022. It is projected to expand at a robust CAGR of 7.8% during the forecast period, aiming to reach USD 146.3 billion by 2027. The food and beverage industry has embraced the use of healthy ingredients on a large scale, driving the market’s growth.
Consumers’ increasing adoption of healthier lifestyles, shifting demographics, and a heightened focus on nutrition and well-being have fueled the surge in demand for health ingredients. Awareness of the significance of fitness, holistic nutrition, and overall health has played a crucial role in this trend.
Among the various types of health ingredients, protein supplements are expected to dominate the market, holding the highest market share in terms of value throughout the forecast period. The COVID-19 pandemic has further accelerated the consumption of protein supplements as individuals strive to strengthen their immune systems. A survey conducted by Glanbia PLC in the US highlighted the rising consumption of protein bars, which have become a popular choice for maintaining health and enhancing immunity during these challenging times.
Plant-based health ingredients are poised to lead the market, serving as a primary source of vitamins, proteins, and essential nutrients for vegans and individuals with allergies to animal-derived ingredients. The shift towards plant-based alternatives is driven by evolving consumer preferences and a conscious effort to adopt sustainable and compassionate food choices.
The pharmaceutical products segment is expected to experience the highest compound annual growth rate (CAGR) among various applications. Health ingredients play a pivotal role in the development of pharmaceutical products, offering a wide range of benefits, including antioxidant properties, blood sugar regulation, osteoporosis prevention, heart health, stress reduction, beauty enhancement, and weight management.
The market for health ingredients is rapidly expanding, driven by consumers’ desire for a healthier lifestyle. With protein supplements taking the lead, plant-based alternatives gaining traction, and the pharmaceutical industry embracing health ingredients, we anticipate substantial growth and innovation in this dynamic market.
In the forecast period, the Asia Pacific (APAC) region is expected to hold the highest market share. With a significant population of millennials actively focused on fitness, the APAC region presents tremendous growth opportunities for health ingredients. This population’s strong inclination towards innovative products and their reliance on dietary supplements to achieve optimal nutrition contribute to the region’s potential.
The key players in the Health Ingredients market include Archer Daniels Midland Company (ADM), Associated British Foods PLC, International Flavors & Fragrances Inc., Kerry Group PLC, DSM, BASF SE, Cargill Incorporated, Ingredion, Arla Foods, Tate & Lyle, Lonza, Royal FrieslandCampina N.V., Glanbia PLC, CHR Hansen Holdings A/S, and Probi. These companies have implemented strategies such as strategic partnerships, expansions, and new product launches to strengthen their presence in different regions and sectors.
The Asia Pacific (APAC) region is expected to account for the highest market share in the forecast period. With a large population of millennials and their increasing focus on fitness, the APAC region presents significant growth opportunities for health ingredients. This population actively seeks innovative products and plays a crucial role in consuming dietary supplements to achieve optimal nutrition.
The major players covered in the Health Ingredients market report are:
Archer Daniels Midland Company (ADM), Associated British Foods PLC, International Flavors & Fragrances Inc., Kerry Group PLC, DSM, BASF SE, Cargill Incorporated, Ingredion, Arla Foods, Tate & Lyle, Lonza, Royal FrieslandCampina N.V., Glanbia PLC, CHR Hansen Holdings A/S, and Probi. These companies have adopted strategies such as strategic partnerships, expansions, and new product launches to increase their presence in different regions and sectors.