Bioactive ingredients refer to phytochemical compounds found in vegetables, fruits and cereals which are capable of modifying metabolic processes and promoting better health. They have numerous beneficial properties such as enhancing antioxidant, anti-inflammation and anti-microbial activities, and inhibiting or inducing gene expression, enzymes and receptor activities. Owing to these factors, they are extensively being used in health supplements, functional foods and beverages, and personal care products. The new research report by IMARC Group, titled “Bioactive Ingredients Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, estimates that the global bioactive ingredients market was worth more than US$ 33 Billion in 2018.
The continuous research and development along with ongoing product innovations by the manufacturers aimed to achieve a competitive edge over the existing players have contributed towards a significant growth of the market. In addition, the growing prevalence of chronic diseases, on account of sedentary lifestyle and various environmental factors, has led the consumers to shift towards disease prevention rather cure, in turn, boosting the market growth. Further, the escalating applications of bioactive ingredients in various industries, such as personal care, food and beverage, healthcare and medicine, etc., are bolstering the demand for these ingredients across the globe. Moreover, inflating disposable incomes, rising healthcare expenditure and increasing awareness regarding the benefits of bioactive ingredients are some of the other factors stimulating the growth of the market. However, price skimming practices by the manufacturers along with absence of stringent regulations are some of the challenges faced by the global bioactive ingredients market. Looking forward, the market value is projected to cross US$ 49 Billion by 2024, at a projected CAGR of 6.8% over the forecast period.
- On the basis of type, fibers are the most popular type of bioactive ingredients. Other major ingredients include vitamins, omega-3 PUFA, minerals, carotenoids and antioxidants, probiotics and plant extracts.
- Based on application, dietary supplements represent the leading segment, accounting for the largest market share. Other major application segments are functional beverage, personal care and animal nutrition.
- On a geographical front, the market has been segmented into Asia Pacific, Europe, North America, Latin America, and Middle East and Africa. Currently, Asia Pacific dominates the market, holding the majority of the market share.
- The competitive landscape of the bioactive ingredients market has also been examined with some of the key players being Cargill, Archer Daniel Midland, BASF SE, Arla Foods, Ajinomoto, Ingredion Incorporated, FMC Corporation, Roquette, Mazza Innovation Ltd., and Sabinsa Corporation.
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