The Functional Food Ingredients Market was valued at approximately USD 4.3 Billion in 2023 and is expected to grow at a robust CAGR of around 11.2% during the forecast period (2024-2032)
Rising Health Concerns Is Escalating The Demand For Functional Food Ingredients Market Globally
Functional foods ingredients offer a health benefit beyond basic nutrition for the improvement of outer or inner health. The Academy of Nutrition and Dietetics categorizes the three main functional foods such as natural products (vegetables, fruits, grains, dairy, fish, and meat), enriched or fortified foods, and synthesized food ingredients like prebiotics. The increasing prevalence of chronic diseases is augmenting the consumer shift towards healthier food alternatives. In addition, the Rising consumer interest, and high awareness of immunity-enhancing properties of proper diet and food habits, are some of the key factors fueling the growth of the global functional food ingredients market. Moreover, the increase in functional food ingredient product sales is burgeoning the growth of the functional food ingredients market. However, some of the restraints in the market are adherence to the international quality standards & regulations and lack of awareness about functional ingredients such as prebiotics and probiotics in developing countries.
The surge in the Functional Food Ingredients Market is on account of the rising chronic and lifestyle diseases all over the world. In addition, the rising sales of functional food products are intensifying the growth of Functional Food Ingredients.
Detailed analysis of key driver of Functional Food Ingredients Market browses through.
UnivDatos Market deliver a comprehensive analysis of the Type, Health Benefits, Application, Source, and Region
Based on Type, the market is fragmented into Probiotics, Proteins & amino acids, Phytochemicals & plant extracts, Prebiotics, Fibers & specialty carbohydrates, Omega-3 fatty acids, Carotenoids, Vitamins, and Minerals. The protein & amino acids segment garners a significant share of the functional food ingredient market in 2020. The functional food ingredients such as prebiotics, omega-3 fatty acids, proteins, minerals, fibers, and phytochemicals are mainly derived from plant sources. Plant-based proteins are a major source of protein for vegetarians and vegans. Their low carbon footprint, high nutritional profile, and low price are major factors driving their consumption. Plant-based sources such as Soy, corn, pulses, millet, sorghum, sunflower seeds, wheat, groundnuts, barley, and beans are highly enriched in amino acid content. The increasing inclination of consumers toward natural and plant-based products has been encouraging the demand for plant-based food amino acids.
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Based on Health Benefits, the market is segmented into Gut health, Cardiovascular health, Bone health, Immunity, Nutritive health, Weight management, and Other health benefits. The Nutritive Health segment garners a significant share of the functional food ingredient market in 2020. The increasing awareness among the population concerning the health benefits of probiotics and prebiotics is intensifying the segment growth. Moreover, the rising demand for dietary supplements and rising disposable income are further generating lucrative functional food ingredients market growth opportunities.
Based on Application, the market is bifurcated into Food and Beverages. The Beverages segment holds the largest share in 2020 and is expected to register the highest CAGR in the upcoming period. Many Functional food ingredients for example minerals, vitamins, and proteins are used in energy drinks. Numerous energy drinks have been developed by manufacturing companies to deliver specific health benefits, for example promoting heart health, energy-boosting, and improving immunity.
Based on the Source, the market is bifurcated into Natural and Synthetic. The Natural segment is further segmented into Animal, Microbial, and Plant. The Natural segment holds the largest share in 2020 and is expected to register the highest CAGR in the upcoming period owing to a high preference towards food ingredients in natural form, rising consumer demand for natural ingredients. Moreover, the rising health benefits coupled with ingredients obtained from natural sources are also fueling the functional food ingredients market.
North America to Grab Lion’s Share
North America will dominate the Functional Food Ingredients market on account of the increase in demand for high-priced fortified nutritional food & beverage products in the region. The application of food ingredients is estimated to increase at a faster pace in the region due to its demand among consumers. In addition, the changing customers' lifestyles are also propelling the growth of the functional food industry in the North American region. In addition, the rising awareness of functional food ingredients due to the rising food allergies is also deriving the market growth.
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According to UnivDatos , the key players with a considerable market share in the Global Functional Food Ingredients Market are Amway, Archer Daniels Midland Company, Arla Foods, BASF SE, Cargill Inc, DSM NV, General Mills Inc, Herbalife, Ingredion Incorporated, and Kerry Group PLC. These companies are investing heavily on Functional Food Ingredients to increase their customer base.
In May 2021, Cargill launched a new probiotic product named EpiCor, which is a dried yeast fermentate clinically shown in dietary supplement trials to beneficially modulate the gut microbiota and provide immune system support.
In February 2021, Cargill and Manna Tree invested in Evolve BioSystems, Inc., which would help the company continue commercializing next-generation probiotics capable of addressing a widespread deficiency in the infant gut microbiome.
In September 2020, ADM launched Arcon T textured pea proteins, Prolite MeatTEX textured wheat protein, and Prolite MeatXT non-textured wheat protein. These highly functional protein solutions would improve the texture and density of meat alternatives and are particularly useful for achieving consumer-preferred, meat-like texture. It would be easier for the company to overcome the barrier by creating better-tasting products with improved texture and color.
In February 2020, Grupo Arcor and Ingredion Incorporated entered into a joint venture, which would help companies’ manufacture expertise, complementary geographic footprints, and commercial capabilities to broaden food & beverage ingredient offerings to customers in Argentina, Chile, and Uruguay.
“Global Functional Food Ingredients Market” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for the market players. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on different parameters. This will help companies in the formulation of go to market strategies and identifying the blue ocean for its offerings.
Market Segmentation:
By Type (Probiotics, Proteins & amino acids, Phytochemicals & plant extracts, Prebiotics, Fibers & specialty carbohydrates, Omega-3 fatty acids, Carotenoids, Vitamins, and Minerals)
By Health Benefits (Gut health, Cardiovascular health, Bone health, Immunity, Nutritive health, Weight management, and Other health benefits)
By Application (Food and Beverages)
By Source (Natural and Synthetic)
By Region (North America, Europe, Asia-Pacific, Rest of the World)
By Company (Amway, Archer Daniels Midland Company, Arla Foods, BASF SE, Cargill Inc, DSM NV, General Mills Inc, Herbalife, Ingredion Incorporated, and Kerry Group PLC.)
Key questions answered in the study:
What are the current and future trends of the Functional Food Ingredients industry?
How the industry has been evolving in terms of Health Benefits, Application, Type, and Health Benefits?
How the competition has been shaping across the countries followed by their comparative factorial indexing?
What are the key growth drivers and challenges for the Functional Food Ingredients industry?
What are the customer orientation, purchase behavior, and expectations from the Functional Food Ingredients firms across various regions?
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