Market Trends of Global Bioactive Ingredients Industry
Rising Healthcare Expenditure
- Chronic diseases like obesity, diabetes, hypertension, cardiovascular diseases, and other diseases are increasing worldwide due to changing environments, changing food preferences, and increased consumption of processed food. Consumers are becoming more aware of such problems and are willing to pay for preventive healthcare products. Due to rising disposable income and an increased working population, consumers are willing to pay for dietary supplements to help their regular diet.
- Dietary supplements like vitamins, minerals, omega, and prebiotic supplements are in demand worldwide due to their health benefits. Due to this, the bioactive ingredients market is growing. The market players are launching new and innovative ingredients to use in dietary supplements, due to which its demand among market players is increasing.
- In September 2022, The FrieslandCampina company launched Biotis GOS-OP High Purity in the Asia-Pacific region (APAC). Using the company's high-level galactooligosaccharides (GOS) ingredient, it hopes to fill the market gap and fuel supplement innovation relating to prebiotics.
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Asia Pacific is the Fastest Growing Market
- Several old-age populations are present in countries like China, Japan, and others. Because of this, the demand for dietary supplements is increasing in the region. According to World Bank data from 2021, 30% population of Japan is age 65 or above. Demand for dietary ingredients in the region is increasing due to dietary preferences changes.
- Additionally, in India and Australia, the demand for protein supplements is increasing as consumers become more fitness conscious. Consumers are opting to join gyms and fitness centers. Protein supplements provide good pre and postworkout nutrients. Because of this, the demand for protein ingredients is growing in the region.
- Additionally, due to the increasing trend of vegan food and supplements, the market players are launching plant extracts to use in supplements. For instance, in February 2021, Manipal Natural Private Limited launched a new nutraceutical and herbal extracts manufacturing facility in Banglore, India.
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