Newark, May 11, 2023 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 22.2 billion in 2022 energy ingredients market will reach USD 41.8 billion by 2032. Due to the rising popularity of protein-based foods such cold cuts, margarine, bakery goods, yogurt, milk sausages, and spreads, the industry is growing and experiencing strong demand. According to a report published on a marketplace connecting vendors and buyers, 37% of consumer snacks contained proteins in September 2022. The growth is being encouraged by the items' increasing appeal to elderly and health-conscious customers alike.
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Key Insight of the Energy Ingredients Market
Europe is anticipated to expand at the fastest CAGR of 7.9% over the projection period.
Europe is expected to grow at the fastest CAGR of 7.9% over the forecast period. In the upcoming years, customers will be drawn to these substances thanks to the growing practice of "nutrition declaration" on the product's box or label. For instance, Prinova Europe introduced enduracarb, a high-purity trehalose component, for athletic endurance in May 2022. The slow-acting, double-sugar component is made to power muscles for extended periods of time. Additionally, the market will expand due to advantages like improved cognitive performance, better attention, and quicker reaction times that are primarily brought on by caffeine.
In the energy ingredients market, supplements segment is anticipated to expand at the fastest CAGR of 8.1% over the projection period.
Supplements segment is expected to grow at the fastest CAGR of 8.1% over the forecast period. With a rising number of supplement releases including compounds such as taurine and caffeine, market players will have more options to improve current products with other energy-based ingredients. According to William Reed Ltd., roughly 80% of Americans utilize energy-based dietary supplements such as thiamine, riboflavin, and niacin. Furthermore, a shift in consumer lifestyle and increased awareness of health and wellness products are expected to drive the segment's growth in the near future.
In the energy ingredients market, creatine segment is anticipated to expand at the fastest CAGR of 13.2% over the projection period.
Creatine segment is expected to grow at the fastest CAGR of 13.2% over the forecast period. Numerous sports nutrition products and supplements, such as pre-workout supplements, protein powders, and energy bars, contain creatine. Because of this, the market for energy compounds has seen a rise in the demand for creatine. Additionally, a lot of consumers are searching for natural and organic supplements and sports nutrition products to replace conventional ones. Given that it is a naturally occurring substance, creatine is a preferred option for people seeking natural energy ingredients.
Market Dynamics
Driver
Caffeine and B vitamins, two common constituents in energy drinks, are known to provide a number of health advantages, including enhanced cognitive function and higher energy. The demand for goods containing these substances is projected to increase as more people become aware of these advantages. Additionally, consumers now have easier access to a variety of energy products and supplements thanks to the growth of e-commerce. This has helped make energy components more visible and made it simpler for customers to locate and buy items that include these compounds.
Opportunity
It is anticipated that the trend toward health and wellness will continue, with more customers seeking out goods with practical advantages. This offers the energy ingredients industry the chance to create goods that not only raise energy levels but also encourage health and wellbeing. Additionally, the market for energy ingredients has a chance to develop new plant-based sources of energy like green tea, yerba mate, and matcha as consumers' interest in plant-based diets grows.
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Some of the major players operating in the energy ingredients market are:
• ILHWA CO., LTD.
• Applied Food Sciences, Inc. (AFS)
• Naturalin Bio-Resources Co., Ltd.
• Changsha Huir Biological-Tech Co., Ltd.
• Sinochem Pharmaceutical Co., Ltd.
• KOEI KOGYO CO., LTD
• Aarti Industries Ltd.
• BASF SE
• Spectrum Chemical Mfg. Corp.
• RFI Ingredients
• Korea Ginseng Corporation
• Orkla
Key Segments cover in the market:
By Application
• Food
• Beverage
• Supplements
• Others
By Product
• Ginseng
• Creatine
• Taurine
• Caffeine
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