According to the latest report by IMARC Group, titled "Bioactive Ingredients Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the global bioactive ingredients market reached a value of US$
45.5 Billion in 2022. Bioactive ingredients are nutritional biomolecules that typically occur in small quantities in various food items, such as nuts, cereals, tea, fruits, and vegetables. Some of their common forms include glycosylated, esterified, hydroxylated, polyphenols, vitamins, omega-3 fatty acids, and carotenoids. Bioactive ingredients contain essential macro and micronutrients, antioxidants, anti-inflammatory, and anti-microbial traits. These compounds also exhibit the capacity to modulate one or more metabolic processes, thereby promoting good health. Along with this, bioactive ingredients help in building a strong immunity system and reducing the risks of developing various chronic diseases, such as cancer, diabetes, and Alzheimer’s.
Global Bioactive Ingredients Market Trends:
The global bioactive ingredients market is primarily being driven by the rising instances of lifestyle-related diseases and the growing consciousness toward individual health and wellness. This, in turn, is facilitating the demand for nutraceuticals that are formulated using these compounds. In line with this, the increasing awareness regarding the associated benefits of bioactive ingredients is further catalyzing their adoption in the manufacturing of cosmetic and functional food and beverage products, which is supporting the market growth. Additionally, rapid urbanization and industrialization, along with inflating disposable incomes, particularly in emerging economies, have increased the demand for alcoholic beverages, wherein bioactive ingredients are used for brewing and distilling processes. This is acting as a major growth-inducing factor.
Moreover, manufacturers are considerably investing in research and development (R&D) activities to introduce innovative product variants, including beta-carotene made from natural bioactive ingredients, which aids in reducing the risks of allergic reactions, thereby catalyzing the market growth. Apart from this, key players are adopting advanced technologies, such as microencapsulation, to protect the bioactive ingredients from oxidation and unwanted reactions. This, in turn, is creating a positive outlook for the market. Besides this, the demand for bioactive ingredients has also increased during the coronavirus disease (COVID-19) pandemic to improve immunity and decrease the morbidity associated with the illness, which is further creating lucrative opportunities for the market players. Looking forward, the market is expected to grow at a CAGR of 7.1% during 2023-2028.
- Based on ingredients type, the market has been segmented as fibers, vitamins, omega-3 PUFA, minerals, carotenoids and antioxidants, probiotics, plant extracts and others. Currently, fibers dominate the market, holding the largest share.
- On the basis of application, dietary supplements represent the largest segment. Other major segments include functional beverages, personal care and animal nutrition.
- Region-wise, the market has been segmented into Asia Pacific, North America, Europe, Middle East and Africa, and Latin America. Amongst these, Asia Pacific is the leading market, accounting for the majority of the market share.
- The competitive landscape of the market has also been examined with some of the key players being Archer Daniel Midland, Cargill, BASF SE, AJINOMOTO CO, Arla Foods, FMC Corporation, Ingredion Incorporated, Mazza Innovation Ltd., Roquette and Sabinsa Corporation.
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