Health Ingredients Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
The global health ingredients market is projected to grow at a CAGR of 5.87% during the forecast period (2020 - 2025)
Populations across the globe are getting older and with age, the risk of developing diseases associated with bones and joints is also increasing. Musculoskeletal conditions are the leading cause of morbidity worldwide leading to heavy dependence on supplements and other treatment methods. Vitamins and minerals including, calcium, vitamin D, vitamin C are consumed on a large scale to reduce the risk of developing bone and health conditions. Vitamin D is an essential component for building and maintaining strong, healthy bones and teeth. However, the demand for natural health ingredients is rising among a large proportion of the population today. For example, Omya AG which is a producer of industrial minerals offers its Calcipur range of natural calcium carbonates. This all-round ingredient optimizes production processes and formulations but is also a supreme fortification agent. These natural ranges of calcium carbonates are naturally sourced and posses high bioavailability, supporting bone health as well as the proper functioning of muscles and nerves. The ingredient is used in a number of food products such as bakery, cereals, dairy and non-dairy beverages, and others.
The Asia-Pacific is one of the largest markets for health ingredients globally mainly attributable to leaping urbanization in the region has led to a majority of population suffer from vitamin and mineral insufficiency, which has given an opportunity to the major manufacturers of dietary supplements and functional foods and beverages to expand their footprints and strengthen their position as a leader among the regional market. For example, in order to address the growing demand for functional ingredients, several bioactive ingredient manufacturers are expanding their product lines. For instance, the Chinese ingredient company, Shenzhen Qianhai Xiaozao Technology Co. Ltd, initiated the production of algae omega-3 with highly refined EPA ingredients, thereby expanding their bioactive ingredient offerings. Also, several Australian biotech companies are dedicating themselves to the development and production of high purity ingredients for the betterment of human health. For example, Marinova specializes in the manufacturing of fucoidan compounds, i.e. highly bioactive polysaccharides derived from select species of brown seaweed.
The global health ingredients market is highly fragmented, with the presence of numerous global and regional players operating in the market. Key players, in the global health ingredients market are Archer Daniels Midland Company, BASF SE, Koninklijke DSM, Corbion N.V., Kerry Inc., Cargill Inc., Rousselot BV., Ingredion Incorporated among others.