Dublin, May 16, 2024 (GLOBE NEWSWIRE) -- The "Functional Food Ingredients - Global Strategic Business Report" has been added to ResearchAndMarkets.com's offering.
The global market for Functional Food Ingredients estimated at US$96.4 Billion in the year 2023, is projected to reach a revised size of US$161 Billion by 2030, growing at a CAGR of 6.6% over the analysis period 2023-2030.
Natural Functional Food Ingredients, one of the segments analyzed in the report, is projected to record 7% CAGR and reach US$100 Billion by the end of the analysis period. Growth in the Synthetic Functional Food Ingredients segment is estimated at 6% CAGR for the next 8-year period.
The U.S. Market is Estimated at $29.5 Billion, While China is Forecast to Grow at 9% CAGR
The Functional Food Ingredients market in the U.S. is estimated at US$29.5 Billion in the year 2023. China, the world's second largest economy, is forecast to reach a projected market size of US$21.3 Billion by the year 2030 trailing a CAGR of 9% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 5.5% and 5.8% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 5% CAGR.
Key Market Trends & Drivers
- Focus Grows on Natural Foods and Clean Label
- Consumers Focus on Less Processed Foods Drives Market Prospects
- Increasing Prevalence of Chronic & Lifestyle Diseases Enhances Consumer Spending on Functional Foods & Boosts Demand for Ingredients
- Growing Prominence of Functional Foods & Drinks in Weight Management Augurs Well for Market Demand
- Plant-Centric Demand to Buoy Functional Foods & Drinks Ingredients Market
- Plants in Convenient Formats
- Plant Milk for Digestive Wellness
- Probiotics Remain the Preferred Ingredient for Gut Health Foods
- Role of Probiotics in Management of Diseases
- Prebiotics: An Important Ingredient Promoting Gut Health, Brain Health, and Immunity
- Potential Role of Prebiotics and Probiotics in Prevention & Treatment of Coronavirus Infections
- Manufacturers of Prebiotic Ingredients See Major Opportunities
- Growing Role of Prebiotic Ingredients in Functional Foods
- Rising Awareness of Brain-Gut Connection and Resultant Focus on Maintaining Gut Health Drive Demand for Prebiotic Ingredients
- Dairy Industry: A Major Consumer of Prebiotic Ingredients
- Trend towards Higher Fiber Consumption Drives Demand for Prebiotic Fibers
- Percentage Prebiotic Fiber Content in Select Foods
- Prebiotics and Probiotics: Working Together to Improve Digestive Health
- More Natural, Organic and Functional Versions to Drive Energy Drinks Growth
- Antioxidants Gain Importance in Functional Beverages
- Soy-based Functional Ingredients Become Mainstream
- Carotenoids Find Growing Use in Functional Foods & Beverages
- Myriad Benefits of Beta Carotene Drive Applications in Health and Functional Foods
- Omega-3 Emerges as a Popular Heart-Healthy Ingredient, Driving Demand for Marine Functional Food Ingredients
- Alternative Sources of Omega-3
- Robust Demand for Nutraceuticals & Supplements Creates a Strong Foundation for the Growth of Astaxanthin
- Astaxanthin Finds Role in COVID-19 Management
- Protein-Fortified Products Rise in Demand
- Rice Protein Emerges as a Latest Functional Ingredient
- Dietary Fat Emerges as a New Ingredient for Functional Food & Drinks
- High Demand for Functional Ingredients in Snack Foods
- Rising Consumer Interest in Fruit-based Functional Ingredients
- Rising Demand for Natural Ingredients in Functional Foods
- Endurance, Cardiovascular, Bone Health, and Other Wide Ranging Benefits Drive Robust Demand for Protein-Based Products
- Mood Enhancers Gain Momentum
- Innovations Drive Market Expansion
- Nanotechnology Evolves as a Boon for Functional Food Manufacturers
- Nanoencapsulation Improves Delivery and Bioavailability
- Demographic and Macro Factors Influencing Growth in Functional Food Ingredients Market
- Ballooning Global Population
- Millennials Focus on Health & Wellness
- Focus of Young Working Women on Healthy Living
- Urbanization Trend
- Burgeoning Middle Class Population
- Complexities and Challenges: Integration and Adulteration of Functional Food Products
Company Coverage:
- BASF
- Cargill, Inc.
- Archer Daniels Midland Company
- Ashland Global Holdings, Inc.
- Associated British Foods PLC
- Chr. Hansen Holding A/S
- Corbion NV
- Arla Foods Ingredients Group P/S
- Avebe Group
- Biocatalysts Ltd.
- Bio Actives Japan Corporation
- DMH Ingredients, Inc.
- AmTech Ingredients LLC
- Bioseutica
- ANAGENIX
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 649 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $96.4 Billion |
| Forecasted Market Value (USD) by 2030 | $161 Billion |
| Compound Annual Growth Rate | 7.6% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/6u6z50
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