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Boston, MA -- (SBWIRE) -- 05/06/2014 -- Bioactive Ingredients & Product Market by Ingredient (Probiotics, Proteins, Plant Extracts, Minerals, Vitamins, Fibers, Carotenoids), by Product (Functional Foods, & Beverage, Dietary Supplements, Animal Nutrition, Personal Care) - Global Trends & Forecast to 2018
The market for bioactive ingredients is projected to experience a growth rate of 7.2% by 2018 to touch $33.6 billion. This estimation is attributed to the widening bioactive industry, which is a result of increased consumer awareness and health concerns. The Asia-Pacific region is the dominant market with increasing population, urbanization, and disposable income in countries such as India, China, and Thailand. In countries such as Australia, the aging population is generating market opportunities for bioactive. The improvement in the quality of ingredients with clinically-proven ingredients & products entering the market is gaining trust of the consumers and is another factor driving the bioactive ingredients market.
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Based on type, phytochemicals & plant extracts prove to be the most adopted ingredients with the highest projected growth rate. The increasing dependence on plant products, along with growing awareness are the drivers of global market for phytochemicals & plant extracts. In regions such as North America and Europe, the consumers are turning towards plant products and prefer consuming bioactive ingredients derived from plants.
Along with the use of phytochemicals in functional food & beverages or as supplements, the presence of these ingredients is also growing in the personal care industry. Herbal creams, shampoos, and soaps are gaining a widening market due to their characteristics of safeguarding and enhancing skin and hair.
In the current market scenario, fibers & specialty carbohydrates are expected to have the largest market share due to their wide application.
Functional beverages are the growing application market for bioactive ingredients, whereas dietary supplements hold the largest market share in the same market.
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