Fort Collins, Colorado, Feb. 19, 2024 (GLOBE NEWSWIRE) -- The Functional Food Ingredients Market was valued at USD 103.9 Billion in 2023 and is anticipated to grow CAGR at 5.7% to reach USD 170.6 Billion by 2032.
The South Australian Food Innovation Center defines functional ingredients as bioactive compounds used to manufacture functional food products. These compounds can be sourced from primary food produce, inorganic foods, and marine sources. The market for functional foods has been growing recently due to the extra nutritional benefits they provide consumers and those from regular food.
The increasing demand for functional food ingredients is driven by the rising awareness of health-conscious consumers who are seeking healthier food options. According to Colorado State University, functional foods can be divided into three categories. The first category consists of conventional foods such as fruits, vegetables, legumes, grains, nuts, fish, and other similar products. The second category includes modified foods, divided into fermented foods and fortified juices, while the third includes isolated or synthesized food ingredients.
Functional foods are becoming increasingly popular as they are known to prevent health problems, cure deficiencies, and provide essential nutrients such as dietary fibers. The demand for functional foods is also driven by the growing trend of people investing in these products to meet their health and fitness needs.
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Segmentation Overview:
The global functional food ingredients market has been segmented into product, health benefits, type, application, and region. Probiotics are in high demand in the functional food ingredients market due to their numerous health benefits, particularly for digestive health. They are live bacteria that can improve gut health, increase energy levels, help with lactose intolerance, and treat allergies and diseases like diarrhea, vaginal & urinary tract infections, and acne. Nutritive health is significant in the functional foods market's health benefits segment. Functional foods are popular for health and fitness enthusiasts as they provide a rich source of vitamins, minerals, healthy fibers, and fat. They help maintain good health, cure deficiencies, and promote the health and growth of the consumer.
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Functional Food Ingredients Market Report Highlights:
- The global functional food ingredients market growth is anticipated at a CAGR of 5.7% by 2032.
- Functional ingredients are bioactive compounds derived from primary food produce, inorganic foods, and marine sources. They provide extra nutritional benefits, prevent health problems, cure deficiencies, and provide essential nutrients. Functional foods can be conventional, modified, or isolated/synthesized food ingredients. The demand for functional foods is driven by health-conscious consumers seeking healthier food options to meet their fitness needs.
- North America dominates the functional food ingredients market. Demand for healthy food options is growing, especially since the pandemic. Functional beverages are in high demand as they offer on-the-go nutrition and support immune health and energy.
- Some prominent players in the functional food ingredients market report include Kerry Group, ADM, BASF SE, DSM, Tate & Lyle, Cargill Incorporated, Roquette Freres, Kemin Industries, Stratum Nutrition, Arla Foods, and others.
Industry Trends and Insights:
- BASF SE plans to divest its shares in two joint venture companies in Korla, China, by late 2023. This move is part of BASF's global strategy for 1,4-butanediol (BDO) due to increased competitive pressure and global overcapacities in BDO value chains.
- Tate & Lyle PLC and Cryptobiotix conducted a first-of-its-kind study that found unique and potentially beneficial interactions between certain low and no-calorie sweeteners, such as stevia, and the human gut microbiota.
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Functional Food Ingredients Market Segmentation:
By Product: Probiotics, Proteins and Amino Acids, Prebiotics, Vitamins, Fibers & Specialty Carbohydrates, and Others
By Health Benefits: Nutritive Health, Gut Health, Cardiovascular Health, Immunity, Weight Management, and Others
By Type: Natural and Synthetic
By Application: Food & Beverages, Personal Care, Pharmaceuticals, Animal Feed, and Others
By Region: North America, Latin America, Europe, Asia Pacific, the Middle East and Africa.
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