Northbrook, IL 60062 -- (SBWIRE) -- 05/31/2023 -- The health ingredients market was estimated at USD 100.5 billion in 2022, and it is projected to grow at a compound annual growth rate (CAGR) of 7.8% to reach USD 146.3 billion by 2027. This article explores the key factors contributing to this growth and highlights the various segments and regions driving the market forward.

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In recent years, the market for health ingredients has witnessed significant growth, driven by consumers' changing lifestyles, shifting demographics, and expanding nutrition and health concerns. With a focus on fitness, well-being, and holistic nutrition, the demand for health ingredients such as omega-3, vitamins, omega-6, and probiotics has been rapidly expanding.

The Protein Supplements Segment: Meeting the Demand for Immune System Strengthening
Protein supplements, as a type of health ingredient, are projected to have the highest market share in terms of value throughout the forecast period. The COVID-19 pandemic has further accelerated the intake of protein supplements, as people strive to strengthen their immune systems. A survey conducted by Glanbia PLC in the US revealed an increase in the consumption of protein bars for health maintenance and immune system support. The demand for protein continues to rise, driven by both the growing human population and the versatile and functional properties of proteins.

The Plant-Based Segment: A Shift towards Health and Sustainability

The market for plant-based health ingredients is projected to have the highest market share during the forecast period. Changing consumer preferences from meat-based products to plant-based alternatives is one of the main drivers of this growth. Plant-based health ingredients serve as a major source of vitamins, proteins, and other essential nutrients for vegans and consumers with allergies to animal-derived ingredients. In 2020, the alternative protein market witnessed significant investment, with a total of $3.1 billion invested in plant-based meat, dairy-free products, fermentation, and cultivated meat. Of this, $2.1 billion was specifically invested in vegan meat, egg, and dairy products. This shift towards plant-based options aligns with the growing emphasis on health and sustainability.

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The Pharmaceutical Products Segment: Harnessing the Power of Health Ingredients

The pharmaceutical products segment is projected to achieve the highest CAGR throughout the forecasted period. Health ingredients play a vital role in pharmaceutical products, offering a wide range of benefits such as antioxidant action and cell protection, blood sugar level control, osteoporosis prevention, heart health, anti-stress properties, beauty enhancement, and weight management. The integration of health ingredients into pharmaceutical formulations provides consumers with added value and supports their overall well-being.

The Asia Pacific Region: A Thriving Market Fueled by Millennial Consumers

Asia Pacific (APAC) is expected to account for the highest market share during the forecast period. This region boasts an unparalleled population of millennials, with 1.1 billion millennials making up 24% of the population. The active fitness enthusiasts among millennials, coupled with their constant search for innovative products, have contributed to the increased consumption of dietary supplements in the region. By 2030, it is estimated that 75% of consumers in the Association of Southeast Asian Nations (ASEAN) will be millennials and Gen Z individuals. This demographic trend indicates a significant growth potential for health ingredients in the APAC region, supporting millennials in their pursuit of optimal nutrition.

Key Market Players:

The key players in this market include Archer Daniels Midland Company (ADM) (US), Associated British Foods PLC (UK), International Flavors & Fragrances Inc. (US), Kerry Group PLC (Ireland), DSM (Netherlands), BASF SE (Germany), Cargill Incorporated (US), Ingredion (US), Arla Foods (Denmark), Tate & Lyle (UK), Lonza (Switzerland), Royal FrieslandCampina N.V. (Netherlands), Glanbia PLC (Ireland), CHR Hansen Holdings A/S, (Denmark), and Probi (Sweden).

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