The global bioactive ingredients market size is expected to reach USD 67.56 billion by 2028 according to a new study by Polaris Market Research. The report “Bioactive Ingredients Market Share, Size, Trends, Industry Analysis Report, By Source (Plant, Animal, Microbial); By Type; By Application; By Region; Segment Forecast, 2021 – 2028” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The demand for bioactive ingredients has increased owing to the increasing disposable income of consumers, growing inclination towards health and wellness, and rising demand for immunity-boosting food and dietary supplements. The outbreak of COVID-19 has resulted in increased consumption of nutraceuticals, especially vitamins and probiotics.
Growing awareness associated with nutrition, public initiatives against the spread of COVID-19, and trends towards preventive healthcare are expected to boost the market growth. However, the market has been impaired due to operational challenges, disruption of the supply chain, and workforce impairment during the pandemic.
Market players are developing new innovative products to cater to growing consumer demand. In June 2019, BASF introduced three new bioactive ingredients aimed towards the beauty and wellness industry. The product utilizes the unique properties of the rambutan tree and is used in skin and hair products for enhanced hydration and rejuvenation.
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The different applications of bioactive ingredients include animal feed, dietary supplements, functional food & beverages, personal care, pharmaceutical, and others. The dietary supplements segment is expected to grow at a significant rate during the forecast period. Increasing concerns regarding healthy living and wellness have encouraged consumers to turn towards dietary supplements.
Industry players are increasingly introducing dietary supplements to cater to the growing consumer demands. These players also offer customized offers according to specific requirements of consumers for a healthier and more balanced lifestyle.
Some major industry participants include Ajinomoto Co., Inc., FMC Corporation, Koninklijke DSM N.V., Arla Foods amba, BASF SE, Cargill Inc., E. I. du Pont de Nemours, and Company, Mazza Innovation Ltd, Ingredion Incorporated, Archer Daniels Midland Company, Sabinsa Corporation, and Roquette Frères.
Polaris Market Research has segmented the bioactive ingredients market report on the basis of source, type, application, and region:
Bioactive Ingredients, Source Outlook (Revenue, USD Billion, 2016 – 2028)
Bioactive Ingredients, Type Outlook (Revenue, USD Billion, 2016 – 2028)
- Amino Acids
- Probiotics and Prebiotics
- Omega-3 Fatty Acids
- Plant Extracts
Bioactive Ingredients, Application Outlook (Revenue, USD Billion, 2016 – 2028)
- Animal Feed
- Dietary Supplements
- Functional Food & Beverages
- Personal Care
Bioactive Ingredients, Regional Outlook (Revenue, USD Billion, 2016 – 2028)
- North America
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa