Food Supplement Ingredients Market Share
Vitamin B12 based food supplement ingredients market to amass extensive returns by 2024, U.S. to remain a pivotal regional ground for industry stakeholders
The global food supplement ingredients market is projected to gain massive momentum in the decades to come, perhaps attributed to the growing prevalence of nutritional decencies worldwide. The requirement of nutrients however, as a rule, stands different for various individuals. Say for instance, children and older adults require more nutrients and so do pregnant women. As per the World Health Organization, around 250 million preschoolers are vitamin A deficient and so are substantial proportion of pregnant women.
The report by WHO further states that nearly 250,000 -500,000 children with vitamin A deficit become blind every year, while half of them die within 12 months of losing their eye sight. The robust deficiency of vitamins and other nutrients have led to the massive requirement of food supplement ingredients in the form of probiotics, tablets, capsules, powder gels or liquids that are known to fulfill the need for nutritional enrichment. This in consequence, would majorly impel the global food supplement ingredients market share in the years to come.
The need for dietary food supplements due to the rising trend of veganism
Over the last few years, the benefits of healthy living followed by concerns surrounding animal safety have driven several millennials to pursue a vegetarian or vegan diet. Although the idea of a 100% meat-free diet sounds quite appealing, it can bar one from acquiring certain nutrition that cannot be gained from plant-based foods. A Finnish study found that following a balanced diet varies among vegans, while some followed a balanced diet other showed signs of dietary deficiency.
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The study further revealed that Vitamin D levels were below the recommended value among a quarter of the vegan groups. Nutrients like Vitamin B12, Creatine, Vitamin D3 and DHA are extremely high in meat-based foods, which vegans exclude themselves from. However, dietary supplements that provide the above-mentioned content can help vegans maintain a healthy lifestyle, without having to give up a plant-based diet, which would quite overtly, augment the food supplement ingredients market size.
Citing an instance, deficiency of vitamin B12 which is high in animal liver and organ meats, can lead to serious health concerns, especially among the geriatric population. However, vegans can easily consume the same in the form of food supplement ingredients, commonly available as capsules, tablets or powders. According to Global Market Insights, Inc., vitamin B12 based food supplement ingredients industry share was pegged at an appreciable $60 million in the year 2017. The prevalence of dietary deficiencies owing to the rapid adoption of a vegan lifestyle and the massive requirement of vitamin B12 to ensure uninterrupted production of DNA, nerves, and blood cells in the human body will thus propel vitamin B12 based food supplement ingredients market.
How has the United States fared in the global food supplement ingredients market?
In terms of the regional spectrum, the United States is anticipated to emerge as one of the most crucial geographies for the global food supplement market. The regional growth can be aptly credited to the escalating prevalence of chronic diseases like diabetes, heart attacks, and arthritis. Estimates by the Centers for Disease Control and Prevention in 2017 suggest that over 100 million people in the United States are diagnosed with diabetes or prediabetes, stemming from obesity.
This has quite overtly led to the requirement of food supplement ingredients like proteins, Vitamin D and Omega-3 fatty acids that can help with weight loss. Driven by their robust deployment to prevent the onset of conditions like diabetes and heart diseases, the U.S. food supplement ingredients market size is likely to register a CAGR of 7% over 2018-2024.
As the demand for nutritional supplements increases across a slew of verticals, the commercialization graph of the global food supplement ingredients market is likely to observe an incline. As per reliable estimates, food supplement ingredients industry size may be pegged at $2 billion by 2024.
Author Name : Krithika Krishnan