Chicago, Dec. 15, 2023 (GLOBE NEWSWIRE) -- The global market for functional food ingredients is a dynamic and rapidly evolving sector within the broader food industry. Functional foods are those that provide health benefits beyond basic nutrition, often due to the addition of specific ingredients with proven physiological benefits. Growing awareness of the link between diet and health has fueled interest in functional foods. Consumers are actively seeking products that offer added health benefits, such as improved digestion, immunity, or heart health. Manufacturers are investing in research and development to identify and incorporate novel functional ingredients into their products. This includes probiotics, prebiotics, omega-3 fatty acids, antioxidants, and other bioactive compounds.
Functional food ingredients market size in terms of revenue is anticipated to reach $137.1 billion by 2026, growing at a CAGR of 6.8% from 2021-2026 according to a latest report published by MarketsandMarkets™. The usage of functional food ingredients in the manufacturing of functional food & beverage products is expected to provide nutritive health benefits, prevent/resist chronic diseases, or act as energy boosters. The addition of functional food ingredients aids in the provision of nutritive benefits, over and above the basic nutritive capacities of traditional food products.
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Functional Food Ingredients Industry major players covered in the report, such as:
- Cargill, Incorporated
- BASF SE
- Archer Daniels Midland Company
- DuPont, Arla Foods
- Kerry Group
- Ajinomoto Co., Inc.
- Koninklijke DSM N.V.
- Ingredion Incorporated
- Tate & Lyle PLC
- Chr. Hansen Holding A/S
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The research report categorizes the market into the following segments:
Functional Food Ingredients Market by Type
- Probiotics
- Proteins & amino acids
- Phytochemicals & plant extracts
- Prebiotics
- Fibers & specialty carbohydrates
- Carotenoids
- Vitamins
Functional Food Ingredients Market by Health Benefits
- Gut health
- Cardiovascular health
- Cardiovascular health
- Immunity
- Nutritive health
- Weight management
- Other health benefits
Functional Food Ingredients Market by Application
- Food
- Infant food
- Dairy products
- Bakery products
- Confectionery Products
- Snacks
- Other food applications (breakfast cereal and flours)
- Beverages
- Juices
- Health drinks
Functional Food Ingredients Market by Region
- North America
- Europe
- Asia Pacific (APAC)
- South America
- Rest of the World (RoW)
The key stakeholders in the Functional Food Ingredients Market include:
- Food and Beverage Manufacturers: These companies are at the forefront of incorporating functional ingredients into their products. They engage in research and development to create innovative formulations that cater to specific health and wellness needs.
- Ingredient Suppliers: Suppliers of functional food ingredients provide the raw materials necessary to produce functional foods. This category includes suppliers of probiotics, prebiotics, vitamins, minerals, antioxidants, and other bioactive compounds.
- Research and Development Institutions: Academic institutions and research organizations contribute significantly to the functional food industry. They conduct studies to identify new functional ingredients, validate health claims, and explore the potential benefits of incorporating specific compounds into food products.
- Regulatory Bodies: Government agencies and regulatory bodies play a crucial role in shaping the functional food ingredients market. They establish guidelines, standards, and regulations to ensure the safety, efficacy, and accurate labeling of functional foods.
- Consumers: Consumers are a central stakeholder group as they drive demand for functional foods. Their preferences, health awareness, and willingness to adopt healthier dietary habits influence the market's direction and growth.
- Healthcare Professionals: Nutritionists, dietitians, and healthcare professionals play a role in recommending functional foods to individuals with specific health concerns. Their endorsement can significantly impact consumer choices.
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This report provides insights on the following pointers:
- Market Growth: The functional food ingredients market has experienced steady growth globally, driven by increasing consumer awareness of health and wellness.
- Consumer Demand: Consumers are actively seeking functional foods with added health benefits, leading to a surge in demand for products promoting aspects such as digestive health, immunity, and weight management.
- Innovation in Ingredients: Ongoing research and development efforts have focused on discovering and incorporating innovative functional ingredients. Probiotics, omega-3 fatty acids, plant-based proteins, and adaptogens are among the key ingredients gaining attention.
- Personalized Nutrition: The trend towards personalized nutrition has influenced the development of functional foods tailored to individual health needs. Companies are exploring customization based on factors such as age, gender, and specific health concerns.
- Clean Label Products: Consumers are increasingly inclined towards clean label products, seeking transparency in ingredient lists and avoiding artificial additives. This has led to a rise in natural and minimally processed functional food options.
- E-commerce Growth: The growth of e-commerce has provided a convenient platform for consumers to access a wide variety of functional food products. Online channels have also facilitated the entry of niche and specialty products into the market.
- Health and Wellness Focus: The global focus on health and wellness, especially in the wake of the COVID-19 pandemic, has further propelled the demand for functional foods. Consumers are looking for products that not only taste good but also contribute to their overall well-being.
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