Increase stress on healthy eating and foods supplements which enhance body function have widened the market for nutraceuticals. Market Research Future, which concentrates on market reports related to Food, Beverages Nutrition sector among others, have lately issued a report on this market. The Nutraceutical Market is estimated to be worth USD 319.6 billion in revenues while expanding at a CAGR of 6.70% by 2023.
Global Key Players and Competition Analysis
The important players in the nutraceuticals market global are GlaxoSmithKline Plc, Archer-Daniels-Midland Company, E. I. du Pont de Nemours and Company, BASF SE to name a few of the competitors in the segment.
The market for nutraceuticals globally has been segregated into Ingredients, types and distribution channel. The category of ingredients includes probiotics, vitamins and minerals, omega-3, protein and peptides and others. Omega-3 will probably observe the maximum growth rate trailed by probiotics in the coming years. The types of nutraceuticals are functional foods, functional beverages, and dietary supplements. Centered on type, dietary supplements are projected to observe the utmost growth rate of 6.88% on an international level.
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The international industry for nutraceuticals has been observing unceasing growth during the forecast period due to its high levels of nutritional and medicinal points culminating in growing uses of nutraceuticals in numerous industries. In terms of volume and value, The North American market is expected to control the nutraceuticals market capturing the chief sector share of 36.69%. Similarly, the Asia Pacific region is estimated to grow at a rate of 7.82 per cent in the forecast period.
Corporations are trying to gain access to a considerable portion of the market share as early as possible with operative business plans that can fill this gap and control of the dynamics of the rivalry in the market. The entrance of advanced companies is creating a swiftly -developing a trend which is volume intensive.
Browse the market data and information spread across 97 pages with 85 data tables and 20 figures of the report “Nutraceuticals Market Research Report- Forecast till 2023” in-depth alongside table of content (TOC) at: https://www.marketresearchfuture.com/reports/nutraceuticals-market-2181
Jan 2018 A division of Murugappa Group, Parry Nutraceuticals, has entered into a JV with Synthite Industries Ltd to expand the business as an algae company which is value-added. The 50-50 joint venture will built on Parry Nutra’s Spirulina cultivation forte and Synthite’s extraction competences, thereby making this association a great tactical fit for both the partners. The joint venture will construct a manufacturing facility in India with an investment of approximately Rs 40 crore for the manufacturing of Phycocyanin, a blue pigment which is naturally taken from Spirulina. Phycocyanin which is extracted from Spirulina, which has a distinguishing deep blue colour. It offers outstanding stability and tractability for use in a range of food and beverages.