According to the latest report published by Acute Market Reports “Functional food ingredients market” – Growth, Future Prospects and Competitive Analysis, 2019-2029,” the Functional food ingredients market is expected to expand at a CAGR of 8.5 % from 2021 to 2029.
Technological advancement in food and beverage sector has significant growth ensuring research and innovation in past few years. The conviction to develop functional foods first emerged in Japan in the 1980s when faced with escalating health-care costs. The Ministry of Health and Welfare initiated a regulatory system to approve certain foods with documented health benefits (Arai, 1996). Functional foods are ingredients that offer health benefits that extend beyond their nutritional value. Some types contain supplements or other additional ingredients designed to improve health. Functional foods can be grouped into three categories; functional packaged foods, functional beverages and functional fresh foods. Some examples include foods fortified with vitamins, minerals, probiotics, or fiber. Nutrient-rich ingredients like fruits, vegetables, nuts, seeds, and grains are often considered functional foods as well. There is increasing demand for functional food across the globe. The change in lifestyle, rise in income levels and adoption of healthy consumption are the key factors of the functional food ingredients market. The functional food inhibits disease, and includes health boosting properties which in turn provide them with wide range of applications. Key applications of functional food are food and beverages, personal care, pharmaceuticals, animal feed. Various benefits such as they prevent nutrient deficiencies, protect against disease and promote proper growth and development. In addition to enjoying a variety of healthy whole foods, you can include more fortified foods in your diet to fill any nutritional gaps and support better health. A functional ingredient is a bioactive compound that can be used in the manufacture of functional food products. These bioactive compounds can be obtained from a variety of sources such as primary produce, marine sources, microorganisms and inorganic raw materials.
Browse the full report at: https://www.acutemarketreports.com/report/functional-food-ingredients-market
The functional food sales topped over $260 billion, in February 2020 in the United States. The North America dominates the market in regional analysis. The Asia Pacific is the second largest market as there is large population with increasing awareness with respect to healthy eating patterns. The developing countries play an important role in demand of functional food. The Europe is also emerging as people ensure living a healthy life style.
There is tremendous rise in consumption of nutritious food products to ensure good health. The natural and organic food items are largely dominated by the market. The rise in demand has increased from past few decades, the diet food has also attracted the healthy consumers across various regions. The weight loss or management is a health benefit consumers are interested in getting from foods. About one-third of Americans listed increased energy, cardiovascular health, healthy aging or digestive health by use of functional food. In 2020 the global launches of functional food grew by 7.7 %. The pandemic has increased the social awareness of consuming healthy food products and beverages. Functional food was on demand to ensure good health and improve immunity. The pandemic lowered the manufacturing. The supply chain was hampered. However, post pandemic period is expected to raise the sales due to watch on eating patterns and eased manufacture and logistical issues. There is continuous investment on research and development to introduce new products. The development of functional food is complex, expensive and uncertain. However various efforts are made by research and innovation focusing on identifying methods of cost efficient production.
The key players in this industry include DuPont de Nemours, Archer Daniels Midland Company, Cargill Incorporated, BASF SE, Royal Ingredients Group, Kerry Group, Tate & Lyle, Arla Foods, Ajinomoto, Koninklijke DSM N.V, Roquette Frères, Kemin Industries.
Key Market Movements:
- Functional food ingredients market is developing significantly with an expected CAGR of 8.5 % from 2021 – 2029.
- Innovation and research of various nutritive products play a vital role in growth of market.
- Key applications of functional food are food and beverages, personal care, pharmaceuticals, animal feed.
- The pandemic has neutral impact on the industry.
- North America, Europe & Asia Pacific dominates the market in the regional analysis.
- The market drives as cost efficient method of production are adopted.
- The key players in this industry include DuPont de Nemours, Archer Daniels Midland Company, Cargill Incorporated, BASF SE, Royal Ingredients Group, Kerry Group, Tate & Lyle, Arla Foods, Ajinomoto, Koninklijke DSM N.V, Roquette Frères, Kemin Industries.
- The key strategies applied by these companies include creating chemistry to sustain the business, research and innovation, managing portfolios for investments in research and development.
Functional food ingredients market is segmented into:
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|By Covid-19 Impact Segment (2019–2029; US$ Mn)|
*Complete segmentation list is on the report page
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