Demand for Nutraceutical Ingredients to Reach $21.8bn by 2013

By Mike Stones, 12-Nov-2009 LA Times

 

Global demand for nutraceutical ingredients is tipped to reach $21.8bn by 2013, according to a new study by research firm The Freedonia Group.

Its report, World Nutraceutical Ingredients, identifies the most promising growth categories as soy protein nutrients, functional food and beverage additives lutein, lycopene, omega-3 fatty acids, probiotics and phytosterols and vitamins A, E and D.
Also included in its most promising category are the essential minerals calcium and magnesium, the herbal extracts ginkgo biloba, saw palmetto and the non-herbal extracts glucosamine, chondroitin and coenzyme Q10.

 

Functional foods

The United States will remain the biggest global consumer of nutraceutical ingredients over the next five years, predicts the report. This reflects its ever widening range of functional foods and beverages, nutritional preparations and natural medicines.
North American demand for nutraceutical ingredients will rise from a market value of $3824m last year to $4890m by 2013, predicts the report. Annual growth in the market will dip slightly from 7.7 per cent last year to 5 per cent in four years.

China and India are expected to be the fastest growing markets for nutraceutical ingredients as their strong growth fuels the development of their food, beverage and drug production capabilities.

“China will remain the largest worldwide producer (of nutraceutical ingredients) based on its extensive fine chemicals industry and aggressive pursuit of export opportunities,” according to a statement from the company. “Additionally, as economic growth promotes the expansion of its food, beverage and pharmaceutical industries, China will pass the United States as the leading consumer of nutracuetical ingredients after 2013.”

 

Nutrients and minerals

Global demand for nutrients and minerals will reach $12.6bn by 2013; a 6.4 per cent increase on last year’s level.

The fastest growth will be exhibited by soy proteins and isoflavones, psyllium and resistant maltodextrin fibres, omega-3 fatty acids, probiotics, carotenoids, calcium and magnesium, said the report.

See the complete article at the LA Times