The global functional ingredients market is estimated to be valued at US$ 76.79 billion in 2022 and is expected to exhibit a CAGR of 6.6% over the forecast period from 2023 to 2030, according to a new report by Coherent Market Insights.
Market Overview:
Functional ingredients are substances that provide specific health benefits when consumed. They are widely used in the food and beverage industry, pharmaceuticals, and cosmetics. These ingredients offer nutritional advantages such as enhanced energy, improved digestion, and immune system support. The growing awareness regarding the importance of a healthy lifestyle and the increasing demand for natural ingredients are driving the market for functional ingredients.
Market Key Trends:
The key trend in the functional ingredients market is the increasing demand for seaweed extracts. Seaweed extracts are rich in vitamins, minerals, and antioxidants, making them a popular choice among health-conscious consumers. These extracts offer various health benefits, including improved gut health, weight management, and reduced inflammation. Furthermore, seaweed extracts are also used in the production of cosmetic products as they provide anti-aging and skin nourishing properties. The rising popularity of sustainable and plant-based ingredients is expected to further drive the demand for seaweed extracts in the functional ingredients market.
Key Players in the Market:
Archer Daniels Midland Company, Cargill, Incorporated, E. I. du Pont de Nemours and Company, Ingredion Incorporated, Koninklijke DSM N.V., Tate & Lyle plc, FMC Corporation, and Omega Protein Corporation are some of the key players operating in the global functional ingredients market. These players are focusing on product innovation and strategic collaborations to gain a competitive edge in the market.
Segment Analysis:
The functional ingredients market can be segmented based on type, application, and region. In terms of type, the market can be divided into probiotics, prebiotics, proteins & amino acids, fibers & specialty carbohydrates, vitamins, minerals, botanicals, and others. Among these, the probiotics segment is expected to dominate the market during the forecast period. Probiotics are live microorganisms that provide health benefits when consumed in adequate amounts. They have gained popularity due to their ability to improve gut health and promote overall well-being. With consumers becoming more health-conscious and the increasing awareness about the importance of gut health, the demand for probiotics is expected to significantly contribute to the growth of the functional ingredients market.
Key Takeaways:
The global functional ingredients market is projected to witness high growth, exhibiting a CAGR of 6.6% over the forecast period of 2023-2030. The increasing consumer inclination towards a healthy lifestyle, coupled with the rising prevalence of chronic diseases, is driving the demand for functional ingredients. Functional ingredients offer various health benefits, such as improved digestion, enhanced immunity, and weight management, which make them highly desirable among health-conscious consumers. Additionally, the growing aging population and the increasing disposable income of consumers are further fueling the market growth.
In terms of regional analysis, North America is expected to be the fastest-growing and dominating region in the functional ingredients market. The region has a well-established food and beverage industry, along with a high demand for functional and fortified products. The growing awareness about the benefits of functional ingredients, combined with the presence of key players in the region, is contributing to the market growth. Furthermore, the Asia Pacific region is also anticipated to witness significant growth due to the changing dietary habits, increasing disposable income, and rapid urbanization in countries like India and China.
Key players operating in the functional ingredients market include Archer Daniels Midland Company, Cargill, Incorporated, E. I. du Pont de Nemours and Company, Ingredion Incorporated, Koninklijke DSM N.V., Tate & Lyle plc, FMC Corporation, and Omega Protein Corporation. These companies focus on product innovation, strategic partnerships, and mergers and acquisitions to gain a competitive edge in the market. Their strong distribution networks and extensive product portfolios enable them to cater to the diverse needs of consumers and maintain their market dominance.
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The global Functional Ingredients Market size is expected to value at USD 96.1 billion by 2026.
The market is subject to witness a substantial growth due to the rising health consciousness along with the growing need for healthy and comfort foods.
Functional ingredients are commonly termed as natural ingredients that consists of energy boosters, health enriching elements, and disease averting characteristics.Such advantages of functional ingredients are generating massive demand in food and beverage industry, thus boosting growth of the industry in coming years.
Globally, the functional ingredients market is predicted to grow at CAGR of 5.9% in forecast period, providing numerous opportunity for market players to invest for research and development in the market.Request a Free Sample Copy of Functional Ingredients Market Report @ https://www.millioninsights.com/industry-reports/functional-ingredients-market/request-sampleRising health awareness among consumers and changing food patterns across the globe are some of the key factors driving demand for the high nutrient content diet.
Other factors responsible for driving growth of the functional ingredients industry are increasing personal expenditure, rise in urbanization and preference for fortified convenience foods with high nutritional content.
Shifting focus towards food products with high nutritional content by younger population in their regular diet routine is propelling growth the market over the forecast period.
The market is subject to witness a substantial growth due to the rising health consciousness along with the growing need for healthy and comfort foods.
Functional ingredients are commonly termed as natural ingredients that consists of energy boosters, health enriching elements, and disease averting characteristics.
Such advantages of functional ingredients are generating massive demand in food and beverage industry, thus boosting growth of the industry in coming years.
This Research will help you to understand the Volume, growth with Impacting Trends.
Click HERE To get SAMPLE PDF (Including Full TOC, Table & Figures) @ https://www.millioninsights.com/industry-reports/functional-ingredients-market/request-sample Rising health awareness among consumers and changing food patterns across the globe are some of the key factors driving demand for the high nutrient content diet.
Other factors responsible for driving growth of the functional ingredients industry are increasing personal expenditure, rise in urbanization and preference for fortified convenience foods with high nutritional content.
The global Functional Ingredients Market size is expected to value at USD 96.1 billion by 2026.
The market is subject to witness a substantial growth due to the rising health consciousness along with the growing need for healthy and comfort foods.
Functional ingredients are commonly termed as natural ingredients that consists of energy boosters, health enriching elements, and disease averting characteristics.Such advantages of functional ingredients are generating massive demand in food and beverage industry, thus boosting growth of the industry in coming years.
Other factors responsible for driving growth of the functional ingredients industry are increasing personal expenditure, rise in urbanization and preference for fortified convenience foods with high nutritional content.
Shifting focus towards food products with high nutritional content by younger population in their regular diet routine is propelling growth the market over the forecast period.
Functional ingredients are proved to be vital for the treatment of obesity management.Request Sample Copy of This Market Research @ https://www.millioninsights.com/industry-reports/functional-ingredients-market/request-sampleApplications of the functional ingredients further extends to pharmaceutical sector as a coating material due to properties such as lower viscosity, large solid content, and higher water solubility.
