Wilmington, Jun 25, 2020 (Issuewire.com) - Axiom Market Research & Consulting published a report on the impact of COVID-19 on the global nutraceutical ingredients market. The study covers economic indicators analysis by major countries and impact on nutraceutical ingredients market of respective countries along with GDP, food & beverage expenditure, government policies, business investments, key marketing strategies etc. The global nutraceutical ingredients market was projected to grow at a CAGR of 4.78% over the forecast period of 2020 to 2026. The global market is estimated and forecasted in terms of revenue (USD million) ad volume (KT) generated by the Nutraceutical ingredients market.
The global nutraceutical ingredients market is analyzed on the basis of type, application and geography. The various types of nutraceutical ingredients include probiotics, proteins & amino acids, phytochemical & plant extracts, fibers & specialty carbohydrates, omega-3 fatty acids, vitamins, prebiotic, carotenoids, minerals. These products find applications in functional foods, functional beverages, dietary supplements, animal nutrition, personal care etc. The global nutraceutical ingredients market is studied across major countries of North America, Europe, Asia Pacific and Rest of the World.
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Shifting consumer preferences for functional foods and beverages has been one of the significant factors pushing the growth of the market. Moreover, rising prevalence of obesity and mounting awareness on preventive healthcare are anticipated to act as key drivers for the growth of the global nutraceutical ingredients market. Rising health awareness among consumers of all age groups in both developed and developing economies and the inclination toward personalized nutrition also add to the market growth. However, stringent government regulations are expected to restrict the growth of the global nutraceuticals market during the forecast period.
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The major player active in this market are BASF SE (Germany), Associated British Foods PLC (The United Kingdom), DSM N.V. (Netherlands), Ingredion (The United States), Arla Foods (Denmark), Tate & Lyle PLC (The United Kingdom), Ajinomoto Inc. (Japan, )Cargill (The United States), Kerry Group (Ireland), DuPont (The United States), PepsiCo. (The United States), Archer Daniels Midland (The United States).
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