People have developed the habit of shifting from synthetic food ingredients to organic foods and ingredients, obtained from natural sources. In this regards, nutraceuticals food or its food products perform important role in controlling the diseases via fulfilling all the health benefits. Nutraceutical ingredients can assist in prevention or treatment of many diseases (mitigating of gastrointestinal (GI) tract problem), as it is manufactured from raw herbals and lots of rapidly growing industries are reported to synthesize these natural products.
Rising occurrence of severe diseases is likely to accelerate the global nutraceutical ingredients market. Fundamental characteristics comprising deterrence from hardening of heart arteries and cholesterol, blood clotting & inflammation reduction will fuel the market. Rising concern about longer life span and latent application scope in animal nutrition and food & beverage industry is anticipated to push the product demand. Furthermore, a decline in the consumption of poultry, meat and seafood products across the globe is likely to boost the demand for nutraceutical ingredients market over the estimated timeframe.
Global concerns regarding the COVID-19 pandemic have heavily impacted the food and beverage industry and the mentality of consumers, given the health risks. Moreover, factors such as consumer uncertainties, demand-supply volatility, trade and logistics, raw material supply and on the economic front, although prices of F&B products and agricultural produce have remained stable, a prolonged outbreak of COVID-19 will lead to economic instability and food inflation. While the short-term impacts are more evident, it is yet to be understood what impacts and what magnitude of impact the outbreak of COVID-19 will have on the supply chain in the long term.
The exclusive COVID-19 Impact Analysis report by Axiom MRC explores the outbreak of COVID-19, its impact on the global and regional economies, and its implications on the food & beverage sector. The report studies the effect of the pandemic on the global economy by evaluating factors like consumption, GDP, business investment, key players marketing strategies, key supply and demand-side factors and governmental policies & decisions.
The global Nutraceutical Ingredients industry is analysed based on type, application and geography. Probiotics, proteins & amino acids, phytochemical & plant extracts, fibers & specialty carbohydrates, omega-3 fatty acids, vitamins, prebiotic, carotenoids, minerals are the Nutraceutical Ingredients covered in the report. These ingredients find applications in functional foods, functional beverages, dietary supplements, animal nutrition, personal care etc. The global Nutraceutical Ingredients market is studied across various key countries of regions such as North America, Europe, Asia Pacific and Rest of the World. Asia-Pacific region is likely to dominate the market holding majority of the share and the highest growth rate projected in the forecast period. Consumer preferences for functional foods and beverages has been one of the decisive factors accelerating the growth of the market in this region.
The key competitors of this market include Cargill, DuPont, Kerry Group, BASF SE, ADM, Associated British Foods PLC, DSM N.V., Ingredion Inc., Arla Foods, Tate & Lyle PLC, Ajinomoto Inc., Mead Johnson Nutrition Company, Kraft Heinz Company, PepsiCo., GlaxoSmithKline and among others.
The repercussion of the COVID-19 necessitates a speculative future for economies and industries. Amongst continuous and constant developments, Axiom team of experts will bring to you timely updates about the Global Economic Impact of COVID-19.
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