Additives and Supplements Market Research Reports, Analysis & Trends
Additives and supplements industry comprises companies that produce, manufacture and sell the extra nutritional supplements in the form of powder, liquids or solid foods in packaged solutions.
Nutritional supplements include vitamins, minerals, herbs, meal supplements, sports nutritional products, natural food supplements and other related products used to boost the nutritional content of the diet. The US is the largest market for nutritional supplements, followed by Western Europe and Japan. The health consciousness and disposable income are growing on a global scale, especially in the urban sector, so simultaneously the worldwide consumption of nutritional supplements and the industry producing it is expected to enjoy a significant growth rate in the near future.
The dietary supplement industry on the other hand is expected to be the world's fastest growing market during the five year period between 2012 and 2017 and the market of North America's nutraceutical market is expected to grow to approximately 40% and the Asia-Pacific market to grow approximately 30%. According to Freedonia Group, the global nutraceutical ingredients market is expected to grow at 7.2% annually to reach $23.7 billion by the end of 2015. Whereas the Global Business Intelligence (GBI) forecasts the global nutraceutical market to reach over $180 billion by the end of 2017 at CAGR 4.9%. Globally Vitamin D market has grown significantly during 2007-2010 as the penetration of vitamin D market is quite high in countries such as Israel and Belgium compared to other countries like France and Denmark and the market expects to see a considerable amount of growth and revenue in near future.
Current Market Trends in Additives and Supplements
According to Euromonitor, the global Vitamin and supplement market is worth over $68 billion. Although the industry has been competitive but showing somewhat slower growth rate in the recent years, where majority of the blame is on the economic crisis, regulation difficulties and the overabundance of products in more mature markets, the specific market is expected to see a good turnover of good revenue in the near future. Vitamins and dietary supplements are the non-drug and non-hormone based products that are consumed orally in the form of pills, powders or liquids and also by intravenously through injections. The main function of these drugs is to supplement the diet.
Vitamin supplements account for over $8.5 billion in the overall US supplements market, over half of the sales are accounted from the sales of multivitamins. And the global market for food additives is expected to grow steadily over the next five years, in which the expected growth is going to be due to the increased demand from F&B industry and increasing awareness and demand of functional food additives.
Major Players In Additives and Supplements Sector
Major players in the additives and supplements industry include DSM, Ajinomoto Co. Inc, Evonik, Lextron Inc, Archer Daniels Midland Company, ROQUETTE, CJ, Shandong China STEVIA Inc., Baolingbao Biology Co., Ltd., Pharmaceutical Co., Ltd. Shandong Foton, Rizhao Jin Hesheng Group Co., Ltd, BASF SE, Cargill Inc, and Chr. Hansen A/S.