Cargill and Archer Daniels Midland Company (ADM) are Key Players in Nutraceutical Ingredients Market

The global nutraceutical ingredients market size is projected to grow from USD 152.0 billion in 2019 to USD 228.0 billion by 2025, recording a compound annual growth rate (CAGR) of 7% during the forecast period. Increasing demand for fortified food due to the growing health consciousness among consumers, rising incidences of chronic diseases, and mandates on food fortification by government organizations are factors that are projected to drive the growth of the nutraceutical ingredients market.

Key nutraceutical ingredients players include Cargill (US), BASF (Germany), ADM (US), Omega Protein Corporation (US), DSM (Netherlands), Ingredion (US), Arla Foods (Denmark), Tate & Lyle (UK), Ajinomoto (Japan), DowDuPont (US), Chr. Hansen (Denmark), Kyowa (Japan), Glanbia (Ireland), Fonterra (New Zealand), Associated British Foods (UK), Sigma-Aldrich (US), and Evonik (Germany). Expansion was a dominant strategy adopted by major players, followed by new product launch. This has helped them to increase their presence in different regions and expand their product portfolio.

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Cargill is engaged in the manufacturing and marketing of food, agricultural, financial, and industrial products, and services. The company operates through five business segments—agriculture services, food ingredients & applications, origination & processing, risk management & financial, and industrial. It offers a wide range of nutraceutical ingredients including alginates, biopolymers (xanthan gum and scleroglucan), carrageenan, galactomannans (LBG), and pectin, to the food, pharmaceutical, and cosmetics industries. The company is developing innovative products to cater to the increasing demand for nutraceutical products. For instance, in 2018, the company launched Latitude, a sustainable and plant-based alternative source of Omega-3 for fish feed applications. Latitude reduces dependency on marine ingredients, including forage fish, and provides assurance against environmental degradation and overfishing of the oceans.

Archer Daniels Midland Company (ADM) produces food & beverage ingredients, feed & feed ingredients, industrial ingredients, biofuels, and naturally derived alternatives to industrial chemicals. The company operates through five segments—agricultural services, oilseeds processing, corn processing, wild flavors and specialty ingredients, and others. The company offers nutraceutical ingredients through its wild flavors and specialty ingredients segment. The diversified product offerings of the company and its extensive geographical reach as well as strong business strategies, make ADM one of the leaders in the nutraceutical market. The company has focused on product expansion as one of its key strategies. For instance, in 2018, the company expanded Onavita algal DHA powder to its line of omega-3 product solutions. The new omega-3 powder increases the portfolio of health and wellness ingredients, such as probiotics, vitamins, botanical extracts, and nutritional oils.

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