NEW YORK, May 20, 2024 /PRNewswire/ — The global functional food ingredients market size is estimated to grow by USD 53.14 bn from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost 7.38% during the forecast period.
For more insights on the forecast market size and historic data (2018 – 2022) – Download Free sample report in a minutes
|
Forecast period |
2024-2028 |
|
Base Year |
2023 |
|
Historic Data |
2018 – 2022 |
|
Segment Covered |
Product (Probiotics and prebiotics, Proteins and amino acid, Dietary fibers, Vitamins and minerals, and Others), Application (Food and beverages, Pharmaceuticals, and Others), and Geography (APAC, North America, Europe, Middle East and Africa, and South America) |
|
Region Covered |
APAC, North America, Europe, Middle East and Africa, and South America |
|
Key companies profiled |
Ajinomoto Co. Inc., AMCO Proteins, Archer Daniels Midland Co., Arla Foods amba, Associated British Foods Plc, BASF SE, Bio Botanica Inc., Cargill Inc., Chr Hansen Holding AS, Cooperatie Koninklijke Cosun UA, Givaudan SA, Ingredion Inc., International Flavors and Fragrances Inc., Kemin Industries Inc., Kerry Group Plc, Koninklijke DSM NV, Omega Protein Corp., Sudzucker AG, Symrise AG, and Tate and Lyle PLC |
Key Market Trends Fueling Growth
The global functional food ingredients market is driven by the rising demand for omega-3 fatty acids, with sources shifting from fish to algae, krill, and GM plants. Omega-3 aids in disease prevention and FDA approval of alternative sources fuels growth. Key trends include organic food, plant-based products, e-commerce, texture and stability improvement, and nutritional value enhancement. Applications span sauces, soups, baked goods, and pharmaceuticals. Technologies like high-pressure processing and microwave extraction are used for production. Other trends include vitamin D supplements, prebiotics, probiotics, and nutrigenomics for various health conditions.
Market Challenges
- The global functional food ingredients market growth is challenged by high costs of functional foods, including nutraceuticals and medical foods. Prices are 30%-500% higher due to distribution, storage, and transportation expenses, complex extraction processes. Key trends include demand from chronic diseases, micronutrient deficiencies, and health-conscious consumers for ingredients like antioxidants, probiotics, fibers, vitamins, and minerals. Regulations, technological advancements, and the animal feed industry also impact the market.
Research report provides comprehensive data on impact of trend, driver and challenges – Buy Report
Segment Overview
This functional food ingredients market report extensively covers market segmentation by
- Product
- 1.1 Probiotics and prebiotics
- 1.2 Proteins and amino acid
- 1.3 Dietary fibers
- 1.4 Vitamins and minerals
- 1.5 Others
- 2.1 Food and beverages
- 2.2 Pharmaceuticals
- 2.3 Others
- 3.1 APAC
- 3.2 North America
- 3.3 Europe
- 3.4 Middle East and Africa
- 3.5 South America
1.1 Probiotics and prebiotics- The functional food ingredients market in 2023 is primarily driven by the probiotics and prebiotics segment, with chronic diseases and micronutrient deficiencies fueling the demand. The middle class and government fortification programs are key consumers, while technological conditions and legislative regulations shape market trends. Probiotic strains like Lactobacillus, Bifidobacterium, and Enterococcus, found in yogurt, buttermilk, and Greek yogurt, are in focus due to their health benefits. International food regulations ensure safety and quality of minerals, fiber, vitamins, flavonoids, and other nutrients, including conjugated linolenic acid, beta-carotene, lutein, zeaxanthin, quercetin, kaempferol, catechins, and anthocyanidins. Antioxidant and anti-inflammatory properties are sought after for energy drinks, proteins in sports drinks, and creatine, branch-chained amino acids for health-conscious consumers. Fibers, amino acids, and probiotic ingredients are essential for the dietary supplements and animal feed industries. Technology advances in probiotic strains improve gut health, immune system, and cognitive function. Probiotic supplements and clean labels are consumer preferences. Allergies and plant-based proteins are also market considerations.
For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2018 – 2022) – Download a Sample Report
Research Analysis
The Functional Food Ingredients Market encompasses a wide range of components derived from High-hydrostatic pressure, Ultrasound-assisted extraction, Microwave-assisted extraction, Pulsed electric field, and Supercritical fluids. These techniques are employed to extract Carotenoids, such as Beta-carotene, Lutein, and Zeaxanthin, as well as Minerals, Fiber, Vitamins, Flavonoids like Quercetin, Kaempferol, Catechins, and Anthocyanidins, and Conjugated linolenic acid. These ingredients play a crucial role in addressing Chronic diseases and Micronutrient deficiencies, particularly among the Middle class. Government fortification programs and Technological conditions facilitate the production and distribution of Fortified food. However, Legislative regulations and International food regulations must be adhered to ensure safety and efficacy. Probiotic strains are also gaining popularity in the market for their health benefits.
Market Research Overview
The Functional Food Ingredients Market encompasses a wide range of products derived from various sources, including probiotics, proteins, and carbohydrates. These ingredients offer numerous health benefits, such as improving digestive health, enhancing muscle growth, and reducing inflammation. Nutrients like carotenoids, flavonoids, and omega-3 fatty acids are also integral to this market. Cardiovascular health is a significant focus, with fibers and antioxidants playing crucial roles. The market is driven by consumer preferences for healthier options and the increasing awareness of the connection between diet and overall wellness. Ultrasonic processing, fermentation, and other advanced technologies are used to extract and preserve these functional ingredients, ensuring their efficacy and bioavailability. The market is expected to grow significantly due to the rising demand for functional foods and beverages, as well as the increasing acceptance of natural and organic products.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Product
- Probiotics And Prebiotics
- Proteins And Amino Acid
- Dietary Fibers
- Vitamins And Minerals
- Others
- Application
- Food And Beverages
- Pharmaceuticals
- Others
- Geography
- APAC
- North America
- Europe
- Middle East And Africa
- South America
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/
SOURCE Technavio
