There is no standard definition for nutraceutical ingredients at a global level, and definition for ‘nutraceuticals’ differs in accordance with region and their industrial applications. Therefore, for the purpose of this study, nutraceutical ingredients are defined as ingredients, derived from various sources such as animal, plant, microbial, and synthetic, which provide health benefits, adding the basic nutritional value and functional benefits to various applications such as, food, beverages, dietary supplements, animal nutrition, and personal care products.

Visionary leaders are the leading market players in terms of new developments such as product launches, innovative technologies, and the adoption of growth strategies. These players have a broad product offering that caters to most of the regions globally. Visionary leaders primarily focus on acquiring the leading market position through their strong financial capabilities and their well-established brand equity.

Dynamic Differentiators are established players with very strong business strategies. However, they have a weaker product portfolio compared to the visionary leaders. They generally focus only on a specific type of technology related to the product.

Innovators in the competitive leadership mapping are vendors that have demonstrated substantial product innovations as compared to their competitors. The companies have focused on product portfolios. However, they do not have very strong growth strategies for their overall business, when compared with the visionary leaders.

Emerging companies have niche product and service offerings. Their business strategies are not as strong as that of the established vendors. The emerging vendors include the new entrants in the market, emerging in terms of product portfolio and geographic reach, and require time to gain significant traction in the market.