Market Overview:
Due to the health benefits associated to functional food ingredients, the market is growing at an incremental pace of development on the global stage. Market Research Future, a firm which specializes in market reports related to the Food, Beverages & Nutrition sector among others, recently forecasted in its report on ‘Global Functional food ingredients Market Research Report- Forecast to 2023’ that the market will demonstrate an exceptional CAGR % while achieving good growth rapidly in the forecast period.
Functional food offers extra micronutrients, which include vitamins, minerals, fatty acids, and other essential elements. They are the medicated foods, which helps to enhance immunity systems and minimizes the chances of chronic diseases such as diabetes, cardiac diseases, cancer, obesity, and others. Therefore, the associated health benefits of functional food ingredients have propelled the growth of the market.
Furthermore, growing health and wellness trends among consumers and increasing awareness about the benefits of functional food ingredients is fueling the demand for the product. Moreover, effective promotional strategy also plays a key role in creating product awareness and reaching the right consumer base, consequently increasing profit generation possibilities. However, high cost of raw materials and stringent government regulations may hinder the growth of the market.
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Latest Industry Updates:
Nov 2017 DuPont Nutrition & Health announces to set up a new venture to develop new microbiome science-based solutions. The Microbiome Venture is expected to play a key role in DuPont’s business growth strategy. Through this development, the company aims to strengthen its position in microbiome market.
Sep 2017 Evonik launched new type of Omega-3 products for dietary supplements.
Sept 2017 Yakult announced the launch of its new probiotic products which is under a development stage. The company focuses on satiating the rising demand of health and functional food segment.
Oct 2016 Ingredion Incorporated launched a new line of dietary fibers, the VERSAFIBE, to be used by food and beverages manufacturers. The product is versatile, process stable, insoluble resistant starch ingredients which can deliver fiber and help in reducing calories and carbohydrates in low moisture applications such as breads, crackers, cookies, pastas, noodles and extruded products.
Market Segmentation:
The global functional food ingredients market has been divided into type, application, and region.
Based on Type: Carotenoids, Dietary Fibers, Minerals, Fatty Acids, Vitamins, and Prebiotics & Probiotics, and Others
Based on Application: Bakery & Cereals, Dairy Products, Frozen & Chilled Foods, Beverages, and Others
Based on Region: North America, Europe, Asia Pacific, and ROW.
Top Key Players:
The key players profiled in functional food ingredients market report are Cargill Incorporated (U.S.), Koninklijke DSM N.V. (The Netherlands), Associated British Food PLC (U.K.), E.I. Du Pont De Nemours & Company (U.S.), Tate & Lyle PLC (U.K.), BASF SE (Germany), Ingredion Incorporated (U.S.), Ajinomoto Co., Inc. (Japan), Kerry Group Plc (Ireland), Archer Daniels Midland Company (U.S.), and Arla Food (Denmark) among many others.
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Intended Audience
- Natural functional food manufacturers
- Raw material suppliers
- End users (food industry)
- Retailers and wholesalers
- E-commerce companies
- Traders, importers and exporters
Regional Analysis:
The global functional food ingredients market is segmented into North America, Europe, Asia Pacific, and Rest of the World (RoW). Among these, Asia Pacific is estimated to retain its dominance over the forecast period 2017-2023. This is attributed to the increasing awareness about the healthy food habits and increasing disposable income of consumers. North America is estimated to account for majority of the market share in the global functional food ingredients market in 2017, and it is projected to expand at a high pace during the review period. Also, the new product development by the key manufacturers of functional food ingredients is projected to be one of the significant reasons for the rising growth in the North America.
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