How Bio-Based Natural Supplements Boosted Growth in the Nutraceutical Ingredients Industry

Key takeaways:

• Introduction
• Health benefits of different nutraceutical ingredients
• Evolving dynamics of the industry

Nutraceuticals are a group of food products that offer a wide range of health and wellness benefits in addition to those provided by normal dietary items. Derived from two words, viz., nutrition and pharmaceuticals, the term ‘nutraceutical’ was first coined by Dr. S. DeFelice in 1989 as an umbrella term for a subset of foods that have a higher proportion of vitamins, minerals, amino acids, and other important compounds that have a therapeutic effect on certain diseases and ailments.

The idea of holistic and natural healthcare has been an important component of ancient medical studies and approaches practiced in countries like India, China, Egypt, Japan, etc. As a result, concepts such as food-based nutrition have been quite popular in these regions for a long time. However, in Western countries, the demand for nutraceuticals has gradually grown in the past few years due to the increasing awareness regarding the importance of immunity building, balanced diets, and healthy lifestyles. Additionally, the rising preference for non-invasive medical treatments has led many people to adopt innovative methods and products that boost nutrition organically. The nutraceutical ingredients industry, which accounted for $163.9 billion in 2021, is anticipated to gather a revenue of $327.3 billion by 2031 due to this shift in the healthcare sector.

Increased use of nutraceutical ingredients in holistic medicine manufacturing creating new growth opportunities

As per a survey done by Acme-Hardesty Co., a leading sustainable bio-based ingredients supplier, nearly 50% of adults in the United States of America take at least one prescription drug. Another research done by U.S. Pharmacopeia Convection shows that 80% of Americans take some form of dietary supplement. These studies highlight the dependence of people in the country on different pharmaceuticals for health and well-being. Naturally, the North American region presents huge opportunities for nutritional supplement manufacturing companies and the nutraceutical ingredients industry to cater to the demands of people suffering from different ailments and diseases.

To address these demands, leading companies in the sector are developing different nutraceutical ingredients to manufacture advanced supplements that act as effective therapeutic agents. One major reason behind the increasing preference for nutraceuticals is their ability to strengthen the immunity system without causing side effects on the body. In the post-pandemic period, people increasingly focus on developing a robust immune system that acts as a solid defense mechanism against various pathogens and viruses. Also, nutrition-based food products are rich in various trace minerals such as copper, zinc, carotenoids, and polyphenols which aid in treating eye disorders and improving the retina health significantly. Medical studies have shown that frequent consumption of food items rich in different nutraceutical ingredients reduced the possibility of Age-Related Macular Degeneration (AMD) in patients.

Along with this, the antioxidant properties of nutrition-based food items improve the overall functioning of the heart, thus minimizing the chances of cardiovascular ailments. Moreover, the nutraceutical ingredients present in these products help regulate blood sugar and body sugar levels, thereby making them an ideal source of nutrition for diabetic people. In addition, minerals such as omega-3, iron, magnesium, and vitamins B and D have been proven to be beneficial for people suffering from Alzheimer’s disease. Hence, many companies are developing nutraceuticals that feature these compounds in correct amounts to address the increasing prevalence of such mental health disorders across the globe.

Increasing investments in R&D activities creating favorable conditions for the growth of the industry

Over the years, several pharmaceutical companies have proactively invested in R&D activities related to manufacturing innovative nutraceutical ingredients to solidify their position in the sector. On the other hand, certain players are partnering with their peers to expand their business operations across the globe. For instance, in December 2021, ÄKTA, a major nutraceutical brand, signed a collaboration agreement with Sundyota Numandis Group, a probiotics manufacturer. Through this deal, ÄKTA announced its entry into the Indian market. The press release issued by the company also stated that the company will be manufacturing various nutraceuticals by sourcing ingredients from local producers, thus contributing to the growth of the regional economy. These strategic alliances are expected to help not just the business involved, but the entire industry in the long run.

In summary, the growing shift from conventional medicines to bio-based nutraceuticals has played an important role in the growth of the landscape across the globe, especially in North America. The various health benefits offered by these nutrition-based food items are predicted to maximize the revenue share of the market in the coming period.

Get in touch with our experts for insights on the various factors influencing the nutraceutical ingredients industry.

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