SRI Consulting Releases 2008 Nutraceutical Ingredients Report
U.S. Consumption of Probiotics Leads Global Growth
MENLO
PARK, CA. April 10, 2008 — While food has been used for a long time to improve health (around 400 BC Hippocrates said, “Let food be your remedy.”), now modern knowledge of health is being used to improve food. In recent years scientific evidence has revealed that bioactive dietary components benefit health in ways that extend beyond meeting basic nutritional needs and food and nutrition science has moved from simply identifying and correcting nutritional deficiencies to nutraceuticals, foods that promote optimal health and reduce the risk of certain debilitating diseases.
Today, SRI Consulting (SRIC) released its Nutraceutical Ingredients report that focuses on the business environment and market dynamics of the nutraceutical industry, providing comprehensive and timely information on producers, products, prices, trends and opportunities.
According to SRIC’s 318 page report, in 2007 the nutraceuticals market in the U.S., Western Europe, Japan and China is estimated at $134.5 billion at the retail level and is poised to grow at a compounded annual growth rate of 6.3% during 2007-2012 to exceed $182 billion in 2012. Functional foods represent the largest and fastest growing segment worldwide, with sales estimated at approximately $96.7 billion for 2007 and projected to reach $135 billion by 2012. The global dietary supplement segment was approximately $37.7 billion in 2007 and is expected to reach $47.6 billion by 2012.
RJ Chang, Director of SRIC’s Specialty Chemicals Update Program (SCUP) commented, “Despite evidence that live and active cultures contribute beneficially to digestive health, the U.S. market has been underdeveloped compared with other parts of the world.” Dr. Chang added, “U.S. consumers’ perception of the usefulness of these cultures in gut health in general has been far behind Europe, Southeast Asia and Japan. Now, this is changing.”
SRIC’s Nutraceutical Ingredients report states that U.S. sales of probiotic foods are projected to grow from $698 million in 2007 by an average annual growth rate of 10% to reach $1.1 billion in 2012. The report covers the principal nutraceutical segments: functional foods and dietary supplements. It presents nine major product segments: vitamins, amino acids/peptides/proteins, specialty carbohydrates, fibers, carotenoids, probiotics, specialty fatty acids, polyphenols, flavonoids, minerals, and sterols/stanols.
For more information about SRIC’s Nutraceutical Ingredients report contact R.J. Chang, +1 650 384 4307, rjchang@sriconsulting.com or visit www.sriconsulting.com.
About SRI Consulting
SRI Consulting (SRIC) is the world’s leading business research service for the global chemical industry. Publishing for almost 60 years, SRI Consulting is the preeminent source for in-depth business and process analysis. This report was developed by the Specialty Chemicals Update Program (SCUP) that provides continuous research focusing on the industry and business environment and market dynamics for more than thirty major specialty chemical segments.
SRI Consulting’s headquarters are located in Menlo Park, California with offices in The Woodlands, Texas; Zürich, Switzerland; Tokyo, Japan; and Beijing, China. SRI Consulting is a division of Access Intelligence, LLC. Additional information is available at www.sriconsulting.com.
SRI Consulting (SRIC) is a trade name and a registered trademark of SRI International, used under license. |
