ID: MRFR/CnM/1405-HCR | 137 Pages | Published By Anshula Mandaokar on March 2023
Nutrition Chemicals Market OverviewThe animal nutrition segment market is expected to register a CAGR of over 5.90% to reach to around USD 17.4 billion by end of 2030.
Nutrition chemicals are being widely used as additives in food to boost the nutritious value of food required for human, plants, and animals, extend the shelf life of the products, and provide taste, color, and texture to the products. These chemicals find use in various applications including pharmaceuticals, animal nutrition, food, cosmetics & personal care, and agriculture, among others.
Animal and agriculture nutrients chemical products are used to improve the dietary requirements of animals and plants. Some of the commonly used animal nutrition chemical products to improve the nutritious value of animal feed includes organic acids, enzymes, vitamins, and glycinates, among others. The use of nutrition chemicals as a nutritional supplement is increasing in animal feed to maintain the balance of protein, vitamins, and other nutritious minerals in livestock diet. Plant nutrition chemical includes nitrogen, phosphate, potassium, calcium, magnesium, sulfur, iron, copper, and others. All these chemicals act as a booster for plants which are absorbed by roots to help them grow and provide food to humans and animals.
The demand for nutrition chemicals is primarily driven by its use as a nutritional supplement in the food & beverage industry. The increase in the consumption of nutritious food products due to the evolving dietary habits of on-the-go consumers is likely to drive the growth of the global nutrition chemicals market. Also, increasing preference for sports and energy drinks as a source of nutrition is fueling the demand for nutrition chemicals, especially in developing economies such as India, China, and Brazil.
Furthermore, the rapidly expanding healthcare industry due to rising health awareness, coupled with high per capita disposable incomes is propelling the growth of the nutrition chemicals market. The surging demand for dietary supplements from athletes and the working class as a result of hectic work schedules are expected to offer lucrative opportunities to market players in the coming years.
The consumption of nutrition chemicals is also increasing in the cosmetics and personal care industry with the increasing focus on personal grooming coupled with high purchasing power.
Global Nutrition Chemicals Market Share, by Application, 2018 (%) Source: MRFR Analysis
Regional Analysis
The market in North America accounted for the largest share of the global nutrition chemicals market in 2018 as a result of surging demand for packaged food and beverages. The application of nutrition chemicals is increasing in beverages due to the rising demand for health and energy drinks. Moreover, the growing healthcare industry with the increasing geriatric population is driving the growth of the nutrition chemicals market in North America. Also, increasing demand for corn, cereals, and other corn products is fueling the growth of the agricultural industry in the US, which, is likely to fuel the demand for nutrition chemicals.
Asia-Pacific was the fastest-growing market for nutrition chemicals in 2018 and is expected to register a significant CAGR during the review period. The market growth can be attributed to rising demand for nutrition-rich food and beverages for improved health. The growing pharmaceuticals industry with increased spending on nutritional supplements as a result of growing health concerns is fueling the demand for nutrition chemicals. Increasing consumption of processed meat and animal byproducts has driven by the growth of the meat industry, which, has resulted in increased demand for animal feed and thus, nutrition chemicals in Asia-Pacific.
The European market is likely to witness significant growth during the review period with the increasing consumption of packaged food products and beverages due to convenience and improved shelf life. Additionally, the expanding cosmetics and personal care industry with the rising demand for UV-resistant skincare products are likely to propel the growth of the nutrition chemicals market during the review period.
The markets in Latin America and the Middle East & Africa are expected to exhibit considerable growth concerning the change in consumption patterns and increasing demand for nutritional supplements.
Segmentation
The global nutrition chemicals market has been segmented by grade, application, and region.
Based on form, the market has been bifurcated into liquid and powder.
Based on application, the global nutrition chemicals market has been segregated into pharmaceuticals, animal nutrition, food & beverage, cosmetics & personal care, agriculture, and others.
Based on the region, the nutrition chemicals market has been divided into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
Key Players
Some of the key players in the global nutrition chemicals market are BASF SE (Germany), DuPont de Nemours, Inc. (US), Evonik Industries (Germany), Lonza Group AG (Switzerland), Vertellus Holdings LLC (US), TATA Chemicals (India), Azelis group (Italy), DSM (Netherlands), Cargill Inc. (US), Solvay SA (Belgium), Jubilant Life Sciences (India), and Stepan Company (US).Recent Development
Satvam focuses on offering 100 % chemical-free nutrition and is happy to launch Satvam Nutrition to deal with the requirement of chemical-free nutrition among the people.
Bothe the contracts were founded with prominent companies, which are leading in their sectors:
Intended Audience
Report Attribute/Metric | Details |
---|---|
Market Size | USD 17.4 billion |
CAGR | 5.90% |
Base Year | 2021 |
Forecast Period | 2022 to 2030 |
Historical Data | 2019 & 2020 |
Forecast Units | Value (USD Billion) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | Form, Application and Region |
Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
Key Vendors | BASF SE (Germany), DuPont de Nemours, Inc. (US), Evonik Industries (Germany), Lonza Group AG (Switzerland), Vertellus Holdings LLC (US), TATA Chemicals (India), Azelis group (Italy), DSM (Netherlands), Cargill Inc. (US), Solvay SA (Belgium), Jubilant Life Sciences (India), and Stepan Company (US) |
Key Market Opportunities | surging demand for dietary supplements from athletes and the working class as a result of hectic work schedules are expected to offer lucrative opportunities |
Key Market Drivers | The increase in the consumption of nutritious food products due to the evolving dietary habits of on-the-go consumers is likely to drive the growth |
The global nutrition chemicals market is estimated to generate revenues of around USD 17.4 BN by end of 2030.
The animal nutrition segment is projected to register over 5.90% CAGR during the review period, 2022-2030.
Increasing preference for sports and energy drinks as a source of nutrition.
North America holds the largest share in the global nutrition chemicals market followed by Asia Pacific and Europe, respectively.
DuPont de Nemours, Inc. (US), BASF SE (Germany), Evonik Industries (Germany), Vertellus Holdings LLC (US), Lonza Group AG (Switzerland), TATA Chemicals (India), DSM (Netherlands), Azelis group (Italy), Cargill Inc. (US), Jubilant Life Sciences (India), Solvay SA (Belgium), and Stepan Company (US), are some of the major players operating in the global nutrition chemicals market.