- Ingredients like antioxidants, probiotics, vitamins and fibers are being used to enrich a huge range of food and beverage products, leading to market growth at a CAGR of 7.03 percent from 2014-2018
Recent research from TechNavio points to the popularity of functional foods as a major contributor to steady growth of the Global Nutraceutical Market, which is expected to be worth US$33 billion by 2018, growing at a CAGR of 7.03 percent.
“There are a few major drivers in the global nutraceutical market, the most important of which is the increase in use of nutraceutical ingredients in enriched foods and beverages, which combined account for 43 percent of the global market,” say TechNavio analysts.
Antioxidants, fibers, probiotics and other products used to provide pharmacological or medical benefit all fall under the nutraceutical umbrella. These compounds are being used to enrich foods and beverages beyond their basic nutritional value, in order to help improve health and protect against disease.
Global Nutraceutical Ingredients Market Segmentation by Type 2013
Because of this trend towards functional foods, TechNavio is also reporting growth in the Global Antioxidants Market, which is growing at a CAGR of more than 4 percent from 2014-2018.
In addition to being a major component in functional foods, awareness of antioxidants in emerging markets such as China and India have given the global industry a boost. Developing economies are becoming more health conscious as a result of increasing illness, rising populations and rising disposable income. Emerging nations such as China and India have strong domestic demand for food and supplements rich in antioxidants.
To determine the scenario for these vendors in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
If you are interested in more information on this topic and our upcoming research on the Global Nutraceutical Market and Global Antioxidants Market please send an e-mail to media@TechNavio.com
About TechNavio
TechNavio is a leading technology research and advisory company with a global coverage. We focus on emerging technology trends that can shape the market. We identify and explain these trends to our customers to help them take better decisions.
TechNavio models the trends using a mix of quantitative and qualitative tools in its proprietary research methodologies. We build forecasts across market segments and geographies based on the trends identified. These forecasts and analysis are used to help our customers identify new and existing opportunities in their markets. We also help customers assess their competitive position in a changing market scenario.
TechNavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape of the Global Takaful Market and Takaful Market in Malaysia. Our analysts obtain the information using a combination of the bottom-up and top-down approaches, besides using in-house market modeling tools. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
Decision makers and influencers in sales & marketing, strategy, product and R&D teams rely on research from TechNavio. We have a large and growing base of happy customers worldwide. Our customers include technology suppliers, end users, consulting companies, investment firms and research institutes.
Founded in 2003, TechNavio has about 200 analysts globally. We cover more than 500 technologies across 80 countries. Our analysts are closely monitoring the market every day by talking to all the industry participants. We have proprietary databases that provide us with a complete perspective of the market. TechNavio develops over 2000 pieces of research deliverables every year.
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