Functional Food Ingredients Market Size to Reach USD 154.37 Billion in 2028 Due to Growing Consumer Awareness of Health Benefits Associated with Ingredients Derived from Natural Sources, According to Reports and Data
NEW YORK, April 1, 2022 /PRNewswire/ — The global functional food ingredients market size is expected to reach $154.37 billion in 2028 and register a revenue CAGR of 6.6% over the forecast period, according to the latest Reports and Data report. The increased focus on credible labeling and certifications that fuel the demand for functional food ingredients is expected to drive the market revenue growth. Food and beverage manufacturers and nutraceutical makers are focusing on organic, clean, natural, non-GMO and other certifications to boost the sale of their products. The demand for natural, organic and own-brand products is increasing due to the increase in the number of health-conscious consumers and the increase in consumer purchasing power.
The prevalence of chronic non-communicable diseases, such as high blood pressure, cardiovascular disease and type 2 diabetes, has increased dramatically, raising concerns about rising health care costs and reduced life quality. Modern lifestyles have also been linked to mental health issues like depression, lack of concentration, and memory loss. As a result, consumers are focusing on consuming healthy and nutritionally rich products to prevent these diseases, which is expected to create significant opportunities for players operating in the global functional food ingredients market.
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Some highlights of the report
- The probiotics segment is expected to grow at a significant revenue CAGR during the forecast period. Probiotics are a type of microorganisms which, when added to food products, provide several health benefits, such as preventing diarrhea, improving mental health conditions, reducing the severity of allergies and eczema, strengthening the immune system and various other benefits.
- Energy drinks contain functional food ingredients like minerals, vitamins and proteins. Several energy drinks have been developed by food and drink manufacturers to provide certain specific health or medical benefits, such as improved heart health, improved immunity, and improved energy. Suppliers are looking to use new constituents in functional foods that can better meet consumer needs. For example, sports drink suppliers are expanding their ingredient choices to enhance sports nutrition, which is expected to give a major boost to the global market.
- The market in Asia Pacific is expected to register a rapid revenue growth rate in the global functional food ingredients market over the forecast period, which can be attributed to rising consumer disposable income and growing population in the region.
- In September 2020, ADM launched Arcon T Textured Pea Protein, Prolite MeatTEX Textured Wheat Protein and Prolite MeatXT Non-Textured Wheat Protein. These functional protein solutions would help improve the texture and density of meat substitutes and achieve a texture similar to that of consumers’ favorite meat.
- The major companies profiled in the market report are Cargill, Inc., BASF SE, Archer-Daniels-Midland Company, Arla Foods amba, Kerry Group plc, Ajinomoto Co., Inc., Blattmann Schweiz AG, Ingredion Incorporated, Tate & Lyle PLC, and Euroduna Food Ingredients GmbH.
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For this report, Reports and Data has segmented the global functional food ingredients market based on type, source, health benefits, application, and region:
- Type Outlook (Revenue, USD Billion; 2018-2028)
- Proteins and amino acids
- Phytochemical and plant extracts
- Special fibers and carbohydrates
- Omega-3 fatty acids
- Source Outlook (Revenue, billion USD; 2018-2028)
- Healthcare Benefits Outlook (Revenue, USD Billion; 2018-2028)
- gut health
- Cardiovascular health
- Bone health
- nutritious health
- weight management
- Application Outlook (Revenue, USD Billion; 2018-2028)
- baby food
- Dairy and milk-based products
- Baked goods
- Confectionery Products
- Meat and meat products
- Energy drinks
- Health Drinks
- Regional Outlook (Revenue, USD Billion; 2018-2028)
- North America
1. United States
8. Rest of Europe
- Asia Pacific
4. South Korea
5. Rest of APAC
- Latin America
2. Rest of LATAM
1. Saudi Arabia
3. South Africa
5. Rest of the MEA
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