January 28/Dallas/PRNewswire -- According to the report "Nutraceutical Ingredient Market by Type (Probiotics, Proteins, Plant Extracts, Minerals, Vitamins, Fibers, Carotenoids & Others) by Application (Functional Foods & Beverages, Supplements, Animal Nutrition, Personal Care) - Global Trends & Forecasts to 2018" by MarketsandMarkets, the nutraceutical ingredient market is estimated to grow from $23.8 billion in 2013 to $33.6 billion in 2018 with a CAGR of 7.2% from 2013 to 2018.

On the whole, the market for Asia-pacific is a dominant one, with the highest growth rate and share. The market holds the power because of an ever-growing population and urbanization in various developing nations of the region. The market for Asia-Pacific is expected to experience growth of 7.4% from 2013 to 2018. The four most potential nations for nutraceutical ingredient industry are India, China, Brazil and Russia.

Dietary supplements hold the largest market share, whereas functional beverages are expected to grow at the highest rate.

The market for dietary supplements is expected to reach $13.0 billion by 2018, and functional beverages are expected to experience the highest growth rate (7.4%) from 2013 to 2018.