Buying Bioactives
The bioactive ingredients market is estimated to grow from $23.8 billion in 2013 to $33.6 billion in 2018.
According to the reprot published by MarketsandMarkets, the bioactive ingredients market is an emerging sector, with various stakeholders such as raw material suppliers, processors, product manufacturers, and end-use consumers. The products include functional food, beverages, dietary supplements, animal nutrition, and personal care items. The bioactive products and ingredients market are inter-dependent on each other, the report notes, as any shift in one will have a direct impact on the other. Growing awareness and reliability on bioactive products is offering a strong consumer base for the market.
The major bioactive ingredients include prebiotics, probiotics, amino acids, peptides & proteins, omega-3 & structured lipids, phytochemicals & plant extracts, minerals, vitamins, fibers & specialty carbohydrates, carotenoids & antioxidants. These ingredients are obtained from the various plant sources, suppliers, poultry farms, etc., and are served in the form of functional foods, beverages, personal care products, and supplements to the consumers. With changing lifestyles, consumers are turning to healthy diets and are more concerned about the consumption of healthy nutrients. This is also due to a fear of nutrient deficiency and chronic diseases. Therefore, the market for these ingredients is getting a push and is served with wide opportunities.
On the whole, the market in the Asia-Pacific region dominates, with the highest growth rate and share. The market holds power here because of the ever-growing population and urbanization in various developing nations of the region. The market here is expected to experience a growth of 7.4% from 2013 to 2018.The four nations with the most potential in the bioactive industry are India, China, Brazil, and Russia.
Dietary supplements form the major application of bioactive ingredients as earlier it served as pharmaceutical products. Hence, the majority of ingredients were served in the form of tablets, capsules, etc. In most of the nations, people are not aware of concept of functional food and beverages. However, the concept is gaining a degree of wider familiarity, with the growth and development of the economy. The market for dietary supplements is expected to reach $13.0 billion by 2018, whereas that for functional beverages is expected to experience the highest growth rate of 7.4% from 2013 to 2018.
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