Global Bioactive Ingredients Market is valued at approximately USD 160.54 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 7.9 % over the forecast period 2022-2029. Bioactive ingredients are a group of vital compounds made by living things such as plants and animals because humans cannot synthesize them. The anti-inflammatory, anti-microbial, anti-allergic, and antiviral activities of bioactive substances have a positive impact on human health. Also, it lessens the risk of respiratory conditions, Alzheimer’s, cancer and metabolic disorders, diabetes, cataracts, and age-related functional decline. The rising disposable income, coupled with the changing lifestyle and rapid globalization are some factors that are propelling the market demand across the globe.
The surging demand for functional food and beverages as bioactive ingredients are byproducts of a variety of naturally extracted essential substances from fruits and vegetables which is one of the major driving factors that is augmenting the market growth globally. According to Statista, in 2021, the worldwide functional food and beverage market was estimated to value around USD 281.14 billion, which is anticipated to grow and reach USD 529.66 billion by the year 2028. Thereby, these aforementioned factors are exhibiting a positive influence on market growth. Moreover, rising use of beauty care products, as well as the growing awareness of healthcare supplements are presenting various lucrative opportunities over the forecasting years. However, the contamination of bioactive ingredients with its end-products and lack of licensing & patent protection guidelines are major challenging factors for the market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Bioactive Ingredients Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. The Asia Pacific dominated the market in terms of revenue, owing to the surging demand for functional ingredients, along with the rising disposable income. Whereas, Europe is expected to grow with the highest CAGR during the forecast period, owing to factors such as the rising inclination toward dietary supplements, as well as increasing use of beauty care products in the market space.
Major market players included in this report are:
Archer Daniels Midland Company (ADM)
Ajinomoto Co, Inc.
Owen Biosciences, Inc.
Mazza Innovation Ltd.
Recent Developments in the Market:
? In June 2019, BASF announced the introduction of a new range of bioactive ingredients for beauty market. The product uses the unique properties of rambutan to hydrate and rejuvenate skin and revitalize hair.
Global Bioactive Ingredients Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Product, Application, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Omega 3 PUFA
Carotenoids & Antioxidants
Functional Food & Beverage
Rest of the World