Global Functional Food Ingredients Market Size to Reach USD 204.84 Billion in 2032 | Emergen Research

Vancouver, Oct. 17, 2023 (GLOBE NEWSWIRE) -- The global functional food ingredients market size is expected to reach USD 204.84 Billion in 2032 and register a steady revenue CAGR of 6.9% during the forecast period, according to the latest analysis by Emergen Research. Increasing prevalence of chronic diseases is a key factor driving market revenue growth. Functional foods are fortified, enriched, and improved foods that give health advantages in addition to basic nutrients, such as vitamins and minerals, when ingested in effective amounts on a regular basis. Functional food prevents nutritional deficiencies, and stimulates growth and development. According to the World Health Organization (WHO), 41 million people every year die due to chronic diseases, globally.

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In addition, rising consumption of nutritive convenience and fortified food is another factor driving revenue growth of the market. Fortification of essential nutrients with staple food elements reduced the prevalence of nutrient-deficient health disorders such as anemia, rickets, goiter, and birth abnormalities. Functional foods are high in essential nutrients such as vitamins, minerals, healthy fats, and fiber. Moreover, increasing partnerships among major companies is also expected to drive market revenue growth during the forecast period. For instance, on 3 October 2022, Teijin announced the establishment of Teijin Meguro Institute to advance the company's Research & Development (R&D) of probiotics for use in functional foods.

The new company provided functional food ingredients that meet the demands of health-conscious consumers, by leveraging its predecessor's expertise in probiotics, which are microorganisms that benefit human health by improving the balance of intestinal lactic acid bacteria, etc., and the prebiotics that feed them. However, high cost associated with functional food ingredients is the key factor, which could restrain market revenue growth. The taste of functional food ingredients may vary and as a result, individual may find the flavors or textures unappealing, which affect their willingness to incorporate into their diets.

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Scope of Research

Major Companies and Competitive Landscape

The global functional food ingredients market is fragmented with large and medium-sized market players accounting for the majority of revenue. Major players are deploying various strategies, entering into mergers and acquisitions, strategic agreements and contracts, developing, testing, and introducing more effective functional food ingredients in the market. Some major players included in the global functional food ingredients market report are:

• Cargill, Incorporated
• BASF SE
• ADM
•  DuPont
• Arla Foods Amba
• Kerry Group plc.
• Ajinomoto Co., Inc.
• DSM
• Ingredion
• Tate & Lyle

Strategic Development

• On 4 April 2023, Insempra, a biology-powered startup that helps businesses to build better products with nature, announced the launch of its first functional ingredient, a biotechnologically produced, 100% natural Alpha-Ionone taste and fragrance ingredient for food and cosmetics market applications. Alpha-ionone is an aroma molecule found in essential oils extracted mostly from natural sources such as raspberries, almonds, and blackberries.

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Some Key Highlights From the Report

• The probiotics segment accounted for largest revenue share in the global functional food ingredients market in 2022. This is due to rising demand for probiotics since these provide various health benefits, such as improved gut microbiota stability and composition and increased resistance to pathogen infection. Probiotics are prospective functional foods since these provide more health advantages and assist to balance the bacterial imbalance produced by antibiotic use. In addition, antibiotics kill both healthy and bad bacteria, resulting in gas, cramps, and diarrhea. Probiotics help to maintain a healthy balance of bacteria in the gut and assist the microbiome repopulate after conditions disrupt the microbiome.
• The plant segment is expected to register steadily fast revenue growth rate in the global functional food ingredients market during the forecast period. This is due to rising demand for plant-based functional food ingredients since plant sterols, phytosterols, and stanols are natural chemicals found in plants that help to decrease cholesterol levels in the human body. Plant-based protein is an excellent nutritious supplement for all age groups, from children to the elderly , which also contains additional nutrients such as fibers and digestive enzymes.
• The online retail segment is expected to account for significantly large revenue share in the global functional food ingredients market during the forecast period. This is attributed to factors, such as no additional costs, as products can be shipped directly from sellers to the customers. Low product costs, discounts available throughout the year, and online retailers providing detailed product information, such as ingredient lists, nutritional content, and usage instructions, helps consumers to make informed purchasing decisions.

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For the purpose of this report, Emergen Research has segmented the global functional food ingredients market on the basis of type of ingredient, source, health benefit, application, certifications and labels, distribution channel, and region:

• Type of ingredient Outlook (Revenue, USD Billion; 2019–2032)

• • Probiotics
  • Proteins & Amino Acids
  • Phytochemicals & Plant Extracts
  • Prebiotics
  • Fiber & Specialty Carbohydrates
  • Carotenoids
  • Vitamins

• Source Outlook (Revenue, USD Billion; 2019–2032)

• • Animal
  • Plant
  • Microbial

• Health Benefit Outlook (Revenue, USD Billion; 2019–2032)

• • Gut Health
  • Cardiovascular Health
  • Immunity
  • Nutritive Health
  • Weight Management
  • Other Health Benefits

• Application Outlook (Revenue, USD Billion; 2019–2032)

• • Food
    • Infant Food
    • Dairy Products
    • Bakery Products
    • Confectionery Products
    • Snacks
    • Other Food Applications
  • Beverages
    • Juices
    • Health Drinks

• Certifications and Labels Outlook (Revenue, USD Billion; 2019–2032)

• • Organic
  • Non-Genetically Modified Organisms (GMO)
  • Gluten-Free

• Distribution Channel Outlook (Revenue, USD Billion; 2019–2032)

• • Online

• Regional Outlook (Revenue, USD Billion; 2019–2032)
  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • UK
    • France
    • Spain
    • BENELUX
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of APAC
  • Latin America
    • Brazil
    • Rest of LATAM
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • Israel
    • Rest of Middle East & Africa
• • Retail Stores

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