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Global Functional Food Ingredients Market Share, Forecast: By Source: Natural, Synthetic; By Type: Vitamins, Minerals, Proteins and Amino Acids, Prebiotics and Probiotics, Omega-3 and Fatty Acids, Phytochemicals and Plant Extracts, Others; By Application; Regional Analysis; Market Dynamics; Competitive Landscape; 2024-2032
Global Functional Food Ingredients Market Outlook
The global functional food ingredients market size reached a value of about USD 112.73 billion in 2023. The market is further estimated to grow at a CAGR of 6.60% in the forecast period of 2024-2032 to reach a value of around USD 200.29 billion by 2032.
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Rising Demand for Functional Beverages to Propel the Market Growth of Functional Food Ingredients
Based on application, the consumption of functional beverages, especially by millennials, is significantly growing, thereby driving the functional food ingredients market demand. The growing popularity of functional drinks can be attributed to the multiple benefits associated with their consumption, such as improved concentration and attention, reduced stress and anxiety, ability to support a good sleep and boost the immune system, and improved digestion.
The functional beverages are available in several types, such as dairy-based beverages, probiotic drinks, energy drinks, sports drinks, meal replacers, caffeinated beverages, and vegetable and fruit beverages. The high intake of sports drinks and energy drinks by sports persons and ordinary people to boost their physical stamina is contributing to the market growth.
Moreover, the shift from carbonated drinks to healthy functional beverages by consumers and their easy availability via brick and mortar stores and online platforms is invigorating the market expansion. The initiatives taken by market players to innovate better ingredients to meet the demands of consumers are likely to aid the market growth over the forecast period.
Market Segmentation
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The functional food ingredients are bioactive compounds used in the manufacture of functional food products. They offer health benefits beyond basic nutrition and are obtained from sources like primary produce, marine sources, microorganisms, and inorganic raw materials. There are different functional food ingredients like vitamins, proteins, minerals, and fatty acids, among others.
The functional food ingredients market, by source, is bifurcated into:
- Natural
- Synthetic
Based on type, the market is segmented into:
- Vitamins
- Minerals
- Proteins and Amino Acids
- Prebiotics and Probiotics
- Omega-3 and Fatty Acids
- Phytochemicals and Plant Extracts
- Others
On the basis of application, the market is divided into:
- Food
- Infant Food
- Dairy Products
- Bakery and Snacks
- Meat and Seafood
- Others
- Beverages
The regional markets for functional food ingredients can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
Increasing Occurrence of Chronic Diseases and Lifestyle Disorders to Drive the Market Growth of Functional Food Ingredients
The increasing health consciousness among consumers and the improved living standards are resulting in the consumption of food with functional ingredients. The pandemic has accelerated the consumer shift towards food products with functional ingredients as now, people are more concerned about boosting their immunity and maintaining their health. The rising levels of obesity, increasing occurrences of cardiovascular diseases, and diabetes, among others, are leading to the growing preference for functional foods, thereby propelling the functional food ingredients market growth. Moreover, restaurants are rapidly reinventing food with functional ingredients on menus due to the changing consumer habits.
The government initiatives towards fighting widespread malnutrition among children and women are also fuelling the market growth of functional food ingredients. For instance, in 2018, the Government of India, under the National Nutrition Mission, decided to introduce fortified rations, which include vitamin- and supplement-added wheat and rice in 118 districts to improve nutrition outcomes among children and women.
Additionally, the growing technological advancements, like the use of artificial intelligence to systematically discover bioactive ingredients that address specific health needs, are expected to further augment the market growth over the forecast period.
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Key Players in the Global Functional Food Ingredients Market
The report gives a detailed analysis of the following key players in the global market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- Arla Foods Ingredients Group P/S
- Ajinomoto Co., Inc.
- Ingredion Incorporated
- Tate & Lyle PLC
- Kemin Industries, Inc.
- Beneo
- A&B Ingredients, Inc.
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Source |
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| Breakup by Type |
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| Breakup by Application |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Region
7 Industry Opportunities and Challenges
8 Global Functional Food Ingredients Market Analysis
8.1 Key Industry Highlights
8.2 Global Functional Food Ingredients Historical Market (2018-2023)
8.3 Global Functional Food Ingredients Market Forecast (2024-2032)
8.4 Global Functional Food Ingredients Market by Source
8.4.1 Natural
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2023)
8.4.1.3 Forecast Trend (2024-2032)
8.4.2 Synthetic
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2023)
8.4.2.3 Forecast Trend (2024-2032)
8.5 Global Functional Food Ingredients Market by Type
8.5.1 Vitamins
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2023)
8.5.1.3 Forecast Trend (2024-2032)
8.5.2 Minerals
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2023)
8.5.2.3 Forecast Trend (2024-2032)
8.5.3 Proteins and Amino Acids
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2018-2023)
8.5.3.3 Forecast Trend (2024-2032)
8.5.4 Prebiotics and Probiotics
8.5.4.1 Market Share
8.5.4.2 Historical Trend (2018-2023)
8.5.4.3 Forecast Trend (2024-2032)
8.5.5 Omega-3 and Fatty Acids
8.5.5.1 Market Share
8.5.5.2 Historical Trend (2018-2023)
8.5.5.3 Forecast Trend (2024-2032)
8.5.6 Phytochemicals and Plant Extracts
8.5.6.1 Market Share
8.5.6.2 Historical Trend (2018-2023)
8.5.6.3 Forecast Trend (2024-2032)
8.5.7 Others
8.6 Global Functional Food Ingredients Market by Application
8.6.1 Food
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2018-2023)
8.6.1.3 Forecast Trend (2024-2032)
8.6.1.4 Breakup by Food Type
8.6.1.4.1 Infant food
8.6.1.4.2 Dairy products
8.6.1.4.3 Bakery and Snacks
8.6.1.4.4 Meat and Seafood
8.6.1.4.5 Others
8.6.2 Beverages
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2018-2023)
8.6.2.3 Forecast Trend (2024-2032)
8.7 Global Functional Food Ingredients Market by Region
8.7.1 Market Share
8.7.1.1 North America
8.7.1.2 Europe
8.7.1.3 Asia Pacific
8.7.1.4 Latin America
8.7.1.5 Middle East and Africa
9 Regional Analysis
9.1 North America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.1.3 Breakup by Country
9.1.3.1 United States of America
9.1.3.2 Canada
9.2 Europe
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
9.2.3 Breakup by Country
9.2.3.1 United Kingdom
9.2.3.2 Germany
9.2.3.3 France
9.2.3.4 Italy
9.2.3.5 Others
9.3 Asia Pacific
9.3.1 Historical Trend (2018-2023)
9.3.2 Forecast Trend (2024-2032)
9.3.3 Breakup by Country
9.3.3.1 China
9.3.3.2 Japan
9.3.3.3 India
9.3.3.4 ASEAN
9.3.3.5 Australia
9.3.3.6 Others
9.4 Latin America
9.4.1 Historical Trend (2018-2023)
9.4.2 Forecast Trend (2024-2032)
9.4.3 Breakup by Country
9.4.3.1 Brazil
9.4.3.2 Argentina
9.4.3.3 Mexico
9.4.3.4 Others
9.5 Middle East and Africa
9.5.1 Historical Trend (2018-2023)
9.5.2 Forecast Trend (2024-2032)
9.5.3 Breakup by Country
9.5.3.1 Saudi Arabia
9.5.3.2 United Arab Emirates
9.5.3.3 Nigeria
9.5.3.4 South Africa
9.5.3.5 Others
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyer’s Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Competitive Landscape
11.1 Market Structure
11.2 Company Profiles
11.2.1 Arla Foods Ingredients Group P/S
11.2.1.1 Company Overview
11.2.1.2 Product Portfolio
11.2.1.3 Demographic Reach and Achievements
11.2.1.4 Certifications
11.2.2 Ajinomoto Co., Inc.
11.2.2.1 Company Overview
11.2.2.2 Product Portfolio
11.2.2.3 Demographic Reach and Achievements
11.2.2.4 Certifications
11.2.3 Ingredion Incorporated
11.2.3.1 Company Overview
11.2.3.2 Product Portfolio
11.2.3.3 Demographic Reach and Achievements
11.2.3.4 Certifications
11.2.4 Tate & Lyle PLC
11.2.4.1 Company Overview
11.2.4.2 Product Portfolio
11.2.4.3 Demographic Reach and Achievements
11.2.4.4 Certifications
11.2.5 Kemin Industries, Inc.
11.2.5.1 Company Overview
11.2.5.2 Product Portfolio
11.2.5.3 Demographic Reach and Achievements
11.2.5.4 Certifications
11.2.6 Beneo
11.2.6.1 Company Overview
11.2.6.2 Product Portfolio
11.2.6.3 Demographic Reach and Achievements
11.2.6.4 Certifications
11.2.7 A&B Ingredients, Inc.
11.2.7.1 Company Overview
11.2.7.2 Product Portfolio
11.2.7.3 Demographic Reach and Achievements
11.2.7.4 Certifications
11.2.8 Others
12 Industry Events and Developments
List of Key Figures and Tables
1. Global Functional Food Ingredients Market: Key Industry Highlights, 2018 and 2032
2. Global Functional Food Ingredients Historical Market: Breakup by Type (USD Billion), 2018-2023
3. Global Functional Food Ingredients Market Forecast: Breakup by Type (USD Billion), 2024-2032
4. Global Functional Food Ingredients Historical Market: Breakup by Health Benefits (USD Billion), 2018-2023
5. Global Functional Food Ingredients Market Forecast: Breakup by Health Benefits (USD Billion), 2024-2032
6. Global Functional Food Ingredients Historical Market: Breakup by Application (USD Billion), 2018-2023
7. Global Functional Food Ingredients Market Forecast: Breakup by Application (USD Billion), 2024-2032
8. Global Functional Food Ingredients Historical Market: Breakup by Source (USD Billion), 2018-2023
9. Global Functional Food Ingredients Market Forecast: Breakup by Source (USD Billion), 2024-2032
10. Global Functional Food Ingredients Historical Market: Breakup by Region (USD Billion), 2018-2023
11. Global Functional Food Ingredients Market Forecast: Breakup by Region (USD Billion), 2024-2032
12. North America Functional Food Ingredients Historical Market: Breakup by Country (USD Billion), 2018-2023
13. North America Functional Food Ingredients Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Europe Functional Food Ingredients Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Europe Functional Food Ingredients Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Asia Pacific Functional Food Ingredients Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Asia Pacific Functional Food Ingredients Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Latin America Functional Food Ingredients Historical Market: Breakup by Country (USD Billion), 2018-2023
19. Latin America Functional Food Ingredients Market Forecast: Breakup by Country (USD Billion), 2024-2032
20. Middle East and Africa Functional Food Ingredients Historical Market: Breakup by Country (USD Billion), 2018-2023
21. Middle East and Africa Functional Food Ingredients Market Forecast: Breakup by Country (USD Billion), 2024-2032
22. Global Functional Food Ingredients Market Structure.
Key Questions Answered in the Report
In 2023, the market attained a value of nearly USD 112.73 billion.
The market is assessed to grow at a CAGR of 6.60% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach almost USD 200.29 billion by 2032.
The major market drivers include the expanding distribution channels, increasing demand for functional beverages, multiple benefits of functional food ingredients, and incorporation of functional food ingredients in restaurant dishes by creating innovative menus.
The key trends guiding the growth of the market include the increasing occurrence of chronic diseases and lifestyle disorders, rising health consciousness, favourable government initiatives, and the use of technology to efficiently deliver better ingredients or functional ingredient-based products.
The significant sources of functional food ingredients include natural and synthetic.
The various types of functional food ingredients include vitamins, minerals, proteins and amino acids, prebiotics and probiotics, omega-3 and fatty acids, phytochemicals and plant extracts, among others.
The different applications of functional food ingredients include food and beverages.
The major players in the market are Arla Foods Ingredients Group P/S, Ajinomoto Co., Inc., Ingredion Incorporated, Tate & Lyle PLC, Kemin Industries, Inc., Beneo, and A&B Ingredients, Inc., among others.
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