In 2022, the Functional Food Ingredients Market had a market value of USD 90.3 Billion, and it is projected to reach USD 100.7 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.8% during the forecast period. The market's expansion is anticipated due to several factors, including the increasing prevalence of chronic illnesses, growing consumer demand for health and wellness products, and rising public awareness regarding the advantages of functional foods. The demand for functional food ingredients is also driven by the need for convenient and portable food options.
Functional foods are food products that provide additional health benefits beyond basic nutrition. These foods contain functional food ingredients, which are added to enhance their nutritional value and promote health benefits. Examples of these ingredients include prebiotics, probiotics, fiber, vitamins, minerals, proteins, and other bioactive substances.
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Major Companies:
- Archer Daniels Midland Company
- BASF SE
- Cargill, Incorporated
- Danone S.A.
- DuPont de Nemours, Inc.
- FrieslandCampina
- Ingredion Incorporated
- Kerry Group
- Nestlé S.A.
- Tate Lyle Plc.
Market Overview:
In the food and beverage sector, all businesses involved in the processing, packaging, or distribution of raw food materials are included. In addition to medications, this industry touches all human-made products, including fresh and packaged meals, alcoholic and nonalcoholic beverages.
Since the Covid-19 outbreak has caused a financial depression, consumers are trying to conserve their money as much as possible. To do this, consumers are buying more generic things and cooking their own meals instead of eating out. In order to reduce the cost of goods sold, attract more customers, and increase profit margins, food processing companies are becoming more creative.
As a result of obesity, the global food and beverage industry is experiencing tremendous growth. As consumers' desire for healthy foods has increased, so has their demand for more detailed nutrition data. Both of these changes have caused companies to launch lower-calorie foods and tighten their control over how their brands are perceived.
The global Functional Food Ingredients market is segmented into:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Further market segmentation
Type Outlook:
- Probiotics
- Prebiotics
- Proteins
- Fibers
- Vitamins Minerals
- Others
Application Outlook:
- Bakery Confectionery
- Dairy Products
- Meat, Poultry, Seafood Products
- Beverages
- Others
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