Global Nutraceutical Industry
The global nutraceutical ingredients market is forecast to record yearly growth in excess of 7% to reach almost $24 billion in 2015, according to research from Freedonia. The greatest growth will come from ingredients with clinically confirmed health benefits that can be used in a wide rang of dietary supplements, drinks, foods, and nutritional preparations for children and adults. Market growth across developing nations is expected to be faster in terms of consumption and production compared with developed nations.
Nutraceuticals are used in the prevention of potential disease and the healing of already existing diseases. According to Transparency Research, the nutraceuticals product industry is classified broadly according to functional beverages, functional food, and dietary supplements. Market growth is fuelled by dietary supplement segment expansion. The protein and peptides sector of the dietary supplement market is expected to record strong growth in the coming years. The non-herbal market segment of the dietary supplement sector is also forecast to record strong growth between 2012 and 2017. In the functional food market sector, the omega fatty acid fortified food market segment is predicted to record moderate growth.