World demand for nutraceutical chemicals will increase over ten percent per year to $11.2 billion in 2004, supplying a $162 billion nutritional products industry. Functional food additives will generate the fastest growth spurred new products, growing price flexibility and an increasing number of health conscious consumers. Global demand for herbal and related extracts will advance at a strong pace as constraints on health care availability and drug expenditures promote the use of alternative medicines. Isolated soy proteins, oat bran, psyllium and calcium will provide the best opportunities among nutrients and minerals based on proven health benefits and broadening end-use applications. Vitamins A, C and E will fare best in the global marketplace among high volume bulk vitamins due to increasing end-user preferences for higher value-added natural formulations. These and other trends are presented in World Nutraceuticals, a new study from The Freedonia Group, Inc., a Cleveland-based industrial market research firm.
Through 2004, Asia/Pacific, Latin America and Africa/Mideast will provide the fastest growth opportunities for nutraceutical chemicals, reflecting rising consumer income levels, increasing investment in both bulk and end-use product industries, and expanding per capita consumption of nutritional and herbal products. China will see the most impressive jump in nutraceutical consumption and production levels based on improving economic prosperity. The US, Japan and major West European countries will remain the largest global producers and consumers of nutraceutical chemicals.
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World demand for nutrients and minerals will increase more than 5 percent annually to $3 billion in 2004. Soy and fiber nutrients for liquid meal substitutes, energy-boosting shakes, sports beverages and fortified foods will provide the strongest growth opportunities based on consumer preferences to obtain nutritional requirements through normal dietary practices.
Herbal extracts will generate fast-paced growth in worldwide demand. Compounds indicated for cholesterol and blood pressure reduction (garlic), enhanced physical and mental stimulation (gingko biloba and ginseng), immune system stimulation (echinacea and goldenseal), depression (St. John’s Wort) and benign prostate problems (saw palmetto) will fare particularly well in the worldwide marketplace due to evolving morbidity patterns. Among all nutraceutical chemicals, functional food additives will see the strongest growth.
World Nutraceuticals (published 06/2000, 336 pages) is available for $4600 from The Freedonia Group, Inc., 767 Beta Drive, Cleveland, OH 44143-2326. For further details, please contact Corinne Gangloff by phone 440.684.9600, fax 646.0484 or e-mail pr@freedoniagroup.com. Full text is also available online through commercial database companies and the www.freedoniagroup.com Web site.
Please attribute information from this news release to The Freedonia Group (Cleveland, OH) and include, if possible, the price of the report. We would also appreciate a copy of the article or publication in which we appear.
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