Published Date : 20 Jul 2023
The global bioactive ingredients market size surpassed USD 46.71 billion in 2022 and is projected to rise USD 82.40 billion by 2030, anticipated to grow at a CAGR of 7.9 percent during the projection period from 2022 to 2030.
The rising trend of veganism is one of the major factors driving the growth of the global bioactive ingredients market. Furthermore, for gut health and well-being, people prefer natural and organic foods. Bioactive substances are widely employed in the majority of health and dietary supplements. Animal feed makers gain increased production from their animals when nutritious components are used in their feed, which is driving the worldwide bioactive ingredients market. The worldwide bioactive ingredients market is being propelled ahead by rising awareness of bioactive compounds among healthcare practitioners and a thriving personal care industry that includes bioactive ingredients into their products.
Asia-Pacific is the largest segment for the bioactive ingredients market in terms of region. China and India are dominating the bioactive ingredients market in the Asia-Pacific region. The spike in demand for functional ingredients is one of the key reasons driving the growth of the Asia-Pacific bioactive ingredients market. As a result, market participants are releasing novel bioactive component products. To expand their market presence, market players are implementing business growth methods.
Europe region is the fastest growing region in the bioactive ingredients market. The UK hold the highest market share in the Europe bioactive ingredients market. Growing demand for organic and natural components, as well as rising healthcare spending, are propelling the European bioactive ingredients market forward. People are avoiding synthetic substances due to increased health concerns. This has a direct impact on the region's demand for bioactive substances. Furthermore, the presence of a large number of industry players is assisting in the advancement of the bioactive ingredients market in Europe.
Bioactive Ingredients Market Report Scope:
|Market Revenue in 2023
|USD 50.4 Billion
|Projected Forecast Revenue in 2030
|USD 82.40 Billion
|Growth Rate from 2022 to 2030
|CAGR of 7.9%
|2022 To 2030
|North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa
Growing concerns regarding infections and allergies
The global bioactive ingredients market is growing due to consumer shifts towards a healthy lifestyle and rising worries about allergies caused by additional compounds. Organic food consumption may lower the incidence of allergic illness, obesity, or overweight, but the evidence is inconclusive due to possible residual variables, as organic food users generally live healthy lifestyles. Thus, this factor is driving the growth of the global bioactive ingredients market.
Lack of consumer awareness
People are not aware about bioactive ingredients. This is due to lack of efforts by market players and government agencies for the promotion of benefits provided by bioactive ingredients. As a result, lack of awareness is hindering the expansion of worldwide bioactive ingredients market.
Rising health consciousness among consumers
The global bioactive ingredients market is growing due to rising consumer health consciousness and increased healthcare spending. The market for bioactive ingredients is rising due to increased consumer knowledge of health issues, growing focus on fitness and the urbanization of developing nations. Thus, rising health consciousness among consumers is creating lucrative opportunities for the growth of global bioactive ingredients market.
Lack of favorable regulations
The lack of regulatory framework to verify health claims as well as the strict standards and intensive regulatory verification for the use of food additives are few of the factors that act as challenges for the growth of global bioactive ingredients market over the forecast period.
Demetrix, a biotechnology company that develops bioactive ingredients, declared in March 2022 that it would begin commercial production of cannabigerol in 2022. The initial worldwide clients in the nutrition and personal care sectors have agreed to purchase more than 70% of total output this year, resulting in multimillion dollar income in 2022. This is the first of several successful commercial production runs Demetrix will complete this year to support an expanding external consumer base.
Mazza Innovation and BASF signed a deal in 2018 to offer BASF with particular plant extracts for the development of novel cosmetic products. Mazza uses its patented PhytoClean process to create plant extracts. This one-of-a-kind, water-based extraction process focuses on bioactive while being exceedingly environmentally friendly.
Major Key Players:
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