New York, June 15, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Bioactive Ingredients Global Market Report 2023" - https://www.reportlinker.com/p06466539/?utm_source=GNW
, Sensient Technologies, Nuritas Ltd., Kerry Group plc, Royal FrieslandCampina N.V., Chr. Hansen A/S, Neptune Wellness Solutions Inc., and Evonik Industries AG.
The global bioactive ingredients market is expected to grow from $41.97 billion in 2022 to $45.28 billion in 2023 at a compound annual growth rate (CAGR) of 7.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The bioactive ingredients market is expected to reach $60.6 billion in 2027 at a CAGR of 7.6%.
The bioactive ingredients market consists of sales of polyphenols and flavonoids.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Bioactive substances, also known as functional ingredients, are molecules derived from dietary sources such as fruits, cereals, and vegetables and have a particular biological effect on the body. These substances may provide a variety of health advantages, such as immune system booster, anti-inflammatory, antioxidant, anti-cancer, and impacts.
North America was the largest region in the bioactive ingredients market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in bioactive ingredients report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main products of bioactive ingredients include fiber, vitamins, omega 3 PUFA, plant extracts, minerals, cartenoids and antioxidants, probiotics and others.Vitamins are a class of nutrients required for healthy cell growth, function and development.
They are produced from various sources including plant, animal and microbial, that are applied in functional food and beverage, dietary supplements, clinical nutrition, personal care and others.
Increasing adoption of organic and natural ingredients is expected to propel the growth of the bioactive ingredients market going forward.Ingredients that are derived from nature and manufactured without synthetic chemicals or genetically modified organisms (GMOs) are referred to as organic and natural ingredients.
Customers have become more aware of the possible health benefits of natural and organic chemicals, and many products include these ingredients.Since bioactive compounds are derived from natural sources and typically marketed as organic or natural, they appeal to health-conscious clients.
For instance, in May 2022, according to Organic Trade Association (OTA), a US-based membership-based trade group for the organic food sector, demand surged to nearly record levels in nearly every aisle of organic foods, driving up 2020 U.S. organic food sales by a record 12.8 percent to a new high of $56.4 billion. Nearly 6% of the food sold in the US in 2020 was considered to be organic. Therefore, the increasing adoption of organic and natural ingredients is driving the growth of the bioactive ingredients market.
Product innovations are a key trend gaining popularity in the bioactive ingredients market.Major companies operating in bioactive ingredients are developing innovative products to sustain their position in the market.
For instance, in April 2022, Demetrix, Inc., a US-based biotechnology business that specializes in developing and manufacturing bioactive compounds, announced the commercial-scale launch of a novel bioactive component, Arete-G, which is the company’s proprietary CBG and a rare cannabinoid present in the cannabis sativa plant. In vitro experiments using the Chorioallantoic Membrane Vascular Assay (CAMVA) and the Bovine Corneal Opacity and Permeability (BCOP) assay were used to assess CBG for eye discomfort. Neither of the CBG formulations examined (1% CBG cream or 10% CBG in caprylic/capric triglyceride) was found to be an irritant in the BCOP assay or CAMVA.
In January 2023, Société La Biochimie Appliquée SA, a France-based manufacturer of natural active ingredients acquired a majority stake in BioActor for an undisclosed amount.Through this investment, Solabia is expected to get access to a greater variety of ingredients and BioActor’s expertise, improving the position of its nutrition segment in this quickly expanding sector.
BioActor is a Netherlands-based developer of natural and bio active ingredients for various industries.
The countries covered in the bioactive ingredients market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
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