Functional food ingredients Helps with good weight management, baby health, and the prevention of problems like high blood pressure. Functional food ingredients are becoming increasingly popular among younger people who are more concerned about their health and well-being.
The functional food ingredients market study analyses the market from 2016 to 2026, with a projection period of 2018 to 2028 and 2018 as the base year. This study on functional food ingredient includes a detailed analysis of the market, including statistical and subjective data, as well as significant market drivers, opportunities, and restraints that have a positive or negative impact on the global market. Market drivers, obstacles, and opportunities for a country-level market in the relevant regional segments have been given exclusive treatment. The report includes a competitive analysis of the industry's leading competitors, as well as in-depth information on the market's competitive landscape and current strategies and products that will aid or affect the market in the coming years.
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Probiotic segment dominated the market in 2018 In the next years, it is likely to follow a similar pattern.
The probiotic category dominated the market in terms of different varieties in 2018. Probiotics are a category of microorganisms that, when added to food, provide customers with health benefits. Probiotics dominate the market for functional food components because they provide a variety of nutritional benefits in addition to basic nutritional value.
During the predicted period, the food segment grew at the fastest rate.
There is a growing preference for a healthier diet that not only satisfies hunger but also boosts immunity. Furthermore, product innovation in terms of variation offerings and flavours creates considerable prospects for the expansion of functional food ingredient applications.
The naturals segment dominated the market in 2018 and is anticipated to continue on this path in the following years
Because of the growing customer desire for natural components, food items in their natural state are increasingly used. Furthermore, the overall market for functional food components is being driven by the increased health benefits associated with ingredients produced from natural sources.
Market Segmentation for Functional Food Ingredients
By Type
• Probiotics
• Prebiotics
• Proteins Amino Acids
• Phytochemicals Plant Extracts
• Fibres Specialty Carbohydrates
• Vitamins
• Minerals
By Application
• Food
• Beverage
During the forecast period, the Asia-Pacific region is expected to increase at the fastest rate.
The Asia Pacific functional food ingredient market is predicted to develop at the quickest rate over the forecast period. This is primarily due to the increasing popularity of probiotic-containing foods and beverages. Consumers choose to purchase beverage goods that help youngsters and the elderly digest their food.
During the projected period, the market for functional food components in Europe is expected to rise at a high rate.
Because of rising health concerns related to stress, overwork, sleeplessness, degeneration, and depression, European consumers prefer healthy diets. Concerns over genetically modified crops are also leading to an increase in demand for vegetable protein as an alternative. As a result, there has been an increase in demand for functional food ingredients over time.
The leading companies in the global market for functional food ingredients are: Archer Daniels Midland Company, Cargill Incorporated, BASF SE, E.I. DuPont de Nemours and Company, Koninklijke DSM N.V., Ingredion Incorporated, Tate Lyle, Associated British Foods, New Asia Ingredients Pvt Ltd. among others. To attract more attention from clients, the players have increased the number of new product innovations and releases.
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Recent Happenings
➜ Kerry Group, an Irish food manufacturer, announced in July 2021 that it will acquire Biosearch Life for USD150 million. Kerry Group will be able to increase its healthy ingredient portfolios, such as probiotics and omega-3, as a result of this acquisition.
➜ BASF SE, Azelis, and BASF will form a collaboration in Greece for health components and colourants in the food and beverage and dietary supplement markets in September 2020.
➜ Kerry's nutritional plant protein portfolio, pevesa Biotech, was expanded in September 2020 to strengthen its position in non-allergic and organic plant protein ingredients.
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