Functional Food Ingredients Market: Increasing Spending on Health Benefitting Foods to Boost Market

The global functional food ingredients market is consolidated in nature with a few players operating in it across the globe, stated a new market research study by Transparency Market Research. The leading players in the market, such as Cargill, Inc., Associated British Foods PLC, and BASF SE are anticipated to collectively hold a large share of the overall market throughout the forecast period. In order to sustain in the fierce competition and enhance their market penetration, the key players are focusing on advertising and marketing activities. In addition to this, innovations and developments in this field is estimated to encourage the growth of the global functional food ingredients market in the next few years. Furthermore, the rising number of mergers and acquisitions and strategic partnerships are anticipated to generate promising growth opportunities for the market players throughout the forecast period. 

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According to the market research study by Transparency Market Research, in 2016, the global market for functional food ingredients was worth US$20.35 bn and is likely to reach a value of US$32.40 bn by the end of 2024. As per the report, the market is predicted to register a healthy 6.0% CAGR between 2016 and 2024. 

Increasing Demand for Functional Food Ingredients to Drive North America Market 

In the last few years, North America led the global functional food ingredients market by holding a large share of the market. The rising demand for functional food ingredients, owing to the rising number of restaurants is projected to encourage the growth of the North America market in the next few years. Furthermore, Latin America and Asia Pacific are estimated to witness a healthy growth in the next few years. The increasing contribution from Brazil, India, and China is estimated to enhance the growth of these regions in the next few years. In addition to this, the rising disposable income of consumers and the increasing working class populations are some of the other key factors, which are predicted to accelerate the growth of Asia Pacific and Latin America throughout the forecast period. 

On the basis of ingredients, the global market for functional food ingredients has been categorized into carotenoids, essential oils, vitamins, minerals, probiotics, omega 3 and 6 fatty acids, prebiotics and dietary fibre, hydrocolloids, soy protein, and proteins and amino acids. The rising demand for functional foods and beverages across the globe is anticipated to enhance the growth of the overall market in the next few years. In addition, the rising awareness among consumers regarding the benefits is likely to enhance the growth of the market in the near future. 

Rising Awareness among Consumers to Encourage Market Growth 

The increasing cases of chronic cases and the rising health awareness among consumers concerning the benefits of making use of functional food ingredients are some of the key factors that are projected to enhance the growth of the market in the next few years. In addition to this, the growing demand for fortified beverages and food products is another major factor, which is estimated to accelerate the growth of the market in the near future. On the flip side, the vulnerability to the seasonal changes and the rules and regulations for food safety are projected to restrict the growth of the global functional food ingredients market throughout the forecast period. Nonetheless, the rising opportunities in developing economies are projected to encourage the growth of the overall market throughout the forecast period.

Functional Food Ingredients Market Expected to Reach US$32.40 bn by 2024

The global functional food ingredients market is consolidated in nature with a few players operating in it across the globe, stated a new market research study by Transparency Market Research. The leading players in the market, such as Cargill, Inc., Associated British Foods PLC, and BASF SE are anticipated to collectively hold a large share of the overall market throughout the forecast period. In order to sustain in the fierce competition and enhance their market penetration, the key players are focusing on advertising and marketing activities. In addition to this, innovations and developments in this field is estimated to encourage the growth of the global functional food ingredients market in the next few years. Furthermore, the rising number of mergers and acquisitions and strategic partnerships are anticipated to generate promising growth opportunities for the market players throughout the forecast period. 

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According to the market research study by Transparency Market Research, in 2016, the global market for functional food ingredients was worth US$20.35 bn and is likely to reach a value of US$32.40 bn by the end of 2024. As per the report, the market is predicted to register a healthy 6.0% CAGR between 2016 and 2024. 

Increasing Demand for Functional Food Ingredients to Drive North America Market 

In the last few years, North America led the global functional food ingredients market by holding a large share of the market. The rising demand for functional food ingredients, owing to the rising number of restaurants is projected to encourage the growth of the North America market in the next few years. Furthermore, Latin America and Asia Pacific are estimated to witness a healthy growth in the next few years. The increasing contribution from Brazil, India, and China is estimated to enhance the growth of these regions in the next few years. In addition to this, the rising disposable income of consumers and the increasing working class populations are some of the other key factors, which are predicted to accelerate the growth of Asia Pacific and Latin America throughout the forecast period. 

On the basis of ingredients, the global market for functional food ingredients has been categorized into carotenoids, essential oils, vitamins, minerals, probiotics, omega 3 and 6 fatty acids, prebiotics and dietary fibre, hydrocolloids, soy protein, and proteins and amino acids. The rising demand for functional foods and beverages across the globe is anticipated to enhance the growth of the overall market in the next few years. In addition, the rising awareness among consumers regarding the benefits is likely to enhance the growth of the market in the near future. 

Rising Awareness among Consumers to Encourage Market Growth 

The increasing cases of chronic cases and the rising health awareness among consumers concerning the benefits of making use of functional food ingredients are some of the key factors that are projected to enhance the growth of the market in the next few years. In addition to this, the growing demand for fortified beverages and food products is another major factor, which is estimated to accelerate the growth of the market in the near future. On the flip side, the vulnerability to the seasonal changes and the rules and regulations for food safety are projected to restrict the growth of the global functional food ingredients market throughout the forecast period. Nonetheless, the rising opportunities in developing economies are projected to encourage the growth of the overall market throughout the forecast period.

Functional Food Ingredients Market Driven by Growing Demand for Fortified Beverages & Food

The global functional food ingredients market is consolidated in nature with a few players operating in it across the globe, stated a new market research study by Transparency Market Research. The leading players in the market, such as Cargill, Inc., Associated British Foods PLC, and BASF SE are anticipated to collectively hold a large share of the overall market throughout the forecast period. In order to sustain in the fierce competition and enhance their market penetration, the key players are focusing on advertising and marketing activities. In addition to this, innovations and developments in this field is estimated to encourage the growth of the global functional food ingredients market in the next few years. Furthermore, the rising number of mergers and acquisitions and strategic partnerships are anticipated to generate promising growth opportunities for the market players throughout the forecast period.

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According to the market research study by Transparency Market Research, in 2016, the global market for functional food ingredients was worth US$20.35 bn and is likely to reach a value of US$32.40 bn by the end of 2024. As per the report, the market is predicted to register a healthy 6.0% CAGR between 2016 and 2024. 

Increasing Demand for Functional Food Ingredients to Drive North America Market

In the last few years, North America led the global functional food ingredients market by holding a large share of the market. The rising demand for functional food ingredients, owing to the rising number of restaurants is projected to encourage the growth of the North America market in the next few years. Furthermore, Latin America and Asia Pacific are estimated to witness a healthy growth in the next few years. The increasing contribution from Brazil, India, and China is estimated to enhance the growth of these regions in the next few years. In addition to this, the rising disposable income of consumers and the increasing working class populations are some of the other key factors, which are predicted to accelerate the growth of Asia Pacific and Latin America throughout the forecast period. 

On the basis of ingredients, the global market for functional food ingredients has been categorized into carotenoids, essential oils, vitamins, minerals, probiotics, omega 3 and 6 fatty acids, prebiotics and dietary fibre, hydrocolloids, soy protein, and proteins and amino acids. The rising demand for functional foods and beverages across the globe is anticipated to enhance the growth of the overall market in the next few years. In addition, the rising awareness among consumers regarding the benefits is likely to enhance the growth of the market in the near future. 

Rising Awareness among Consumers to Encourage Market Growth 

The increasing cases of chronic cases and the rising health awareness among consumers concerning the benefits of making use of functional food ingredients are some of the key factors that are projected to enhance the growth of the market in the next few years. In addition to this, the growing demand for fortified beverages and food products is another major factor, which is estimated to accelerate the growth of the market in the near future. On the flip side, the vulnerability to the seasonal changes and the rules and regulations for food safety are projected to restrict the growth of the global functional food ingredients market throughout the forecast period. Nonetheless, the rising opportunities in developing economies are projected to encourage the growth of the overall market throughout the forecast period.

Functional Food Ingredients Market Growing at a CAGR of 6.0% between 2016 & 2024

The global functional food ingredients market is consolidated in nature with a few players operating in it across the globe, stated a new market research study by Transparency Market Research. The leading players in the market, such as Cargill, Inc., Associated British Foods PLC, and BASF SE are anticipated to collectively hold a large share of the overall market throughout the forecast period. In order to sustain in the fierce competition and enhance their market penetration, the key players are focusing on advertising and marketing activities. In addition to this, innovations and developments in this field is estimated to encourage the growth of the global functional food ingredients market in the next few years. Furthermore, the rising number of mergers and acquisitions and strategic partnerships are anticipated to generate promising growth opportunities for the market players throughout the forecast period. 

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According to the market research study by Transparency Market Research, in 2016, the global market for functional food ingredients was worth US$20.35 bn and is likely to reach a value of US$32.40 bn by the end of 2024. As per the report, the market is predicted to register a healthy 6.0% CAGR between 2016 and 2024. 

Increasing Demand for Functional Food Ingredients to Drive North America Market 

In the last few years, North America led the global functional food ingredients market by holding a large share of the market. The rising demand for functional food ingredients, owing to the rising number of restaurants is projected to encourage the growth of the North America market in the next few years. Furthermore, Latin America and Asia Pacific are estimated to witness a healthy growth in the next few years. The increasing contribution from Brazil, India, and China is estimated to enhance the growth of these regions in the next few years. In addition to this, the rising disposable income of consumers and the increasing working class populations are some of the other key factors, which are predicted to accelerate the growth of Asia Pacific and Latin America throughout the forecast period. 

On the basis of ingredients, the global market for functional food ingredients has been categorized into carotenoids, essential oils, vitamins, minerals, probiotics, omega 3 and 6 fatty acids, prebiotics and dietary fibre, hydrocolloids, soy protein, and proteins and amino acids. The rising demand for functional foods and beverages across the globe is anticipated to enhance the growth of the overall market in the next few years. In addition, the rising awareness among consumers regarding the benefits is likely to enhance the growth of the market in the near future. 

Rising Awareness among Consumers to Encourage Market Growth 

The increasing cases of chronic cases and the rising health awareness among consumers concerning the benefits of making use of functional food ingredients are some of the key factors that are projected to enhance the growth of the market in the next few years. In addition to this, the growing demand for fortified beverages and food products is another major factor, which is estimated to accelerate the growth of the market in the near future. On the flip side, the vulnerability to the seasonal changes and the rules and regulations for food safety are projected to restrict the growth of the global functional food ingredients market throughout the forecast period. Nonetheless, the rising opportunities in developing economies are projected to encourage the growth of the overall market throughout the forecast period.

Functional Food Ingredients Market: Rising Awareness among Consumers to Encourage Market Growth

The global functional food ingredients market is consolidated in nature with a few players operating in it across the globe, stated a new market research study by Transparency Market Research. The leading players in the market, such as Cargill, Inc., Associated British Foods PLC, and BASF SE are anticipated to collectively hold a large share of the overall market throughout the forecast period. In order to sustain in the fierce competition and enhance their market penetration, the key players are focusing on advertising and marketing activities. In addition to this, innovations and developments in this field is estimated to encourage the growth of the global functional food ingredients market in the next few years. Furthermore, the rising number of mergers and acquisitions and strategic partnerships are anticipated to generate promising growth opportunities for the market players throughout the forecast period. 

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According to the market research study by Transparency Market Research, in 2016, the global market for functional food ingredients was worth US$20.35 bn and is likely to reach a value of US$32.40 bn by the end of 2024. As per the report, the market is predicted to register a healthy 6.0% CAGR between 2016 and 2024. 

Increasing Demand for Functional Food Ingredients to Drive North America Market 

In the last few years, North America led the global functional food ingredients market by holding a large share of the market. The rising demand for functional food ingredients, owing to the rising number of restaurants is projected to encourage the growth of the North America market in the next few years. Furthermore, Latin America and Asia Pacific are estimated to witness a healthy growth in the next few years. The increasing contribution from Brazil, India, and China is estimated to enhance the growth of these regions in the next few years. In addition to this, the rising disposable income of consumers and the increasing working class populations are some of the other key factors, which are predicted to accelerate the growth of Asia Pacific and Latin America throughout the forecast period.

On the basis of ingredients, the global market for functional food ingredients has been categorized into carotenoids, essential oils, vitamins, minerals, probiotics, omega 3 and 6 fatty acids, prebiotics and dietary fibre, hydrocolloids, soy protein, and proteins and amino acids. The rising demand for functional foods and beverages across the globe is anticipated to enhance the growth of the overall market in the next few years. In addition, the rising awareness among consumers regarding the benefits is likely to enhance the growth of the market in the near future. 

Rising Awareness among Consumers to Encourage Market Growth 

The increasing cases of chronic cases and the rising health awareness among consumers concerning the benefits of making use of functional food ingredients are some of the key factors that are projected to enhance the growth of the market in the next few years. In addition to this, the growing demand for fortified beverages and food products is another major factor, which is estimated to accelerate the growth of the market in the near future. On the flip side, the vulnerability to the seasonal changes and the rules and regulations for food safety are projected to restrict the growth of the global functional food ingredients market throughout the forecast period. Nonetheless, the rising opportunities in developing economies are projected to encourage the growth of the overall market throughout the forecast period.

Functional Food Ingredients Market: Innovations and Advancements to Encourage Growth

The global functional food ingredients market is consolidated in nature with a few players operating in it across the globe, stated a new market research study by Transparency Market Research. The leading players in the market, such as Cargill, Inc., Associated British Foods PLC, and BASF SE are anticipated to collectively hold a large share of the overall market throughout the forecast period. In order to sustain in the fierce competition and enhance their market penetration, the key players are focusing on advertising and marketing activities. In addition to this, innovations and developments in this field is estimated to encourage the growth of the global functional food ingredients market in the next few years. Furthermore, the rising number of mergers and acquisitions and strategic partnerships are anticipated to generate promising growth opportunities for the market players throughout the forecast period.

Request Sample For More Information @ https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=10751

According to the market research study by Transparency Market Research, in 2016, the global market for functional food ingredients was worth US$20.35 bn and is likely to reach a value of US$32.40 bn by the end of 2024. As per the report, the market is predicted to register a healthy 6.0% CAGR between 2016 and 2024.

Increasing Demand for Functional Food Ingredients to Drive North America Market

In the last few years, North America led the global functional food ingredients market by holding a large share of the market. The rising demand for functional food ingredients, owing to the rising number of restaurants is projected to encourage the growth of the North America market in the next few years. Furthermore, Latin America and Asia Pacific are estimated to witness a healthy growth in the next few years. The increasing contribution from Brazil, India, and China is estimated to enhance the growth of these regions in the next few years. In addition to this, the rising disposable income of consumers and the increasing working class populations are some of the other key factors, which are predicted to accelerate the growth of Asia Pacific and Latin America throughout the forecast period.

On the basis of ingredients, the global market for functional food ingredients has been categorized into carotenoids, essential oils, vitamins, minerals, probiotics, omega 3 and 6 fatty acids, prebiotics and dietary fibre, hydrocolloids, soy protein, and proteins and amino acids. The rising demand for functional foods and beverages across the globe is anticipated to enhance the growth of the overall market in the next few years. In addition, the rising awareness among consumers regarding the benefits is likely to enhance the growth of the market in the near future.

Rising Awareness among Consumers to Encourage Market Growth

The increasing cases of chronic cases and the rising health awareness among consumers concerning the benefits of making use of functional food ingredients are some of the key factors that are projected to enhance the growth of the market in the next few years. In addition to this, the growing demand for fortified beverages and food products is another major factor, which is estimated to accelerate the growth of the market in the near future. On the flip side, the vulnerability to the seasonal changes and the rules and regulations for food safety are projected to restrict the growth of the global functional food ingredients market throughout the forecast period. Nonetheless, the rising opportunities in developing economies are projected to encourage the growth of the overall market throughout the forecast period.  

Functional Food Ingredients Market Expected to Reach US$32.40 bn by 2024

The vendor landscape of the market for functional food ingredients is a consolidated one. Three companies, Associated British Foods PLC, Cargill, Inc., and BASF SE are dominating the market, according to a report published by Transparency Market Research. These three companies collectively account for the 52.8% of the total market share of functional food ingredients market in 2015. There are other local players as well in various regions worldwide who have fierce competition with these key players.

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The report by Transparency Market Research observed the consolidated nature of the global functional food ingredients market owing to the aggressive and effective marketing strategies adopted by the leading players. Acquisitions and merger with local players is also another contributing factor towards the consolidated nature of the said market.

The revenue of the global functional food ingredients market was valued at US$20.35 bn in 2016 and the market is expected to reach US$32.40 bn towards the end of the forecast period of 2016-2024. The market is anticipated to expand at a CAGR of 6.0 % during the forecast period.

Developing Economies to Emerge as the Most Promising Markets

North America accounts for dominant share in the market, with the market in Europe occupying the next spot. Countries such as India, Brazil, and China are of high-value to the players in the global functional food ingredients industry. Intense economic growth of the region along with the ever-expanding working class population, who now has more disposable income to spend, have made the region a lucrative market for the industry. Furthermore, relaxed rules and regulations in the Latin American and Asia Pacific countries would further bolster the growth of the global functional food ingredients market. The region of Asia Pacific and Latin America would, thus, continue to be immensely important for the manufacturers of functional food.

It is also forecasted that the demand for functional food is to surpass the demand for functional beverage. Despite ease of manufacturing and consumption, functional foods are gaining popularity owing to their health benefits. The segment of probiotics is anticipated to be the leading one as more and more manufacturing companies are incorporating probiotic bacteria in various products. Most of the dairy products such as yoghurt are being incorporated with probiotic bacteria.

Growing Health Awareness to Fuel Growth

The most important factor contributing towards the growth of the global functional food ingredients market is the advantages of functional foods over conventional diets and regular food products. According to the report, research carried out in the recent past has revealed the effectiveness of functional foods. Amidst increasing concern and awareness for personal health, consumers are gradually shifting their preferences towards healthy foods of high-value nutrition from junk and convenience food. More consumers are now seen stocking up healthy functional foods of high-nutritive value.

However, stringent regulations and strict scrutiny concerning the food industry continue to pose a challenge for the overall expansion of the global functional food ingredients market. Various regulatory bodies such as Food and Drug Administration, United Nations’ Food and Agriculture Organization are continuously monitoring the use of chemicals in food. These factors pressurize manufacturers to get approvals for the distribution and production thereby delaying the whole process.

Functional Food Ingredients Market: Growing Health Awareness to Fuel Growth

Global Functional Food Ingredients Market: Snapshot

The increasing demand for health benefitting foods that is needed beyond basic nutrition to promote optimal health is currently the cornerstone of the development of functional food ingredients market. The growing awareness among a large population demographic regarding the consumption of nutritive food rather than only satisfying taste and appeal considerations is providing a strong basis for the growth of players in the market. As a result, consumers are opting for nutritive convenience foods and nutritionally fortified foods in place of traditional convenience and junk foods. In particular, in developed economies, the changing perception of food cabinet as a medical cabinet is leading to an increasing number of consumers stocking up on wholesome foods. Hence, functional foods are increasingly becoming a commonality in the kitchens of health-savvy consumers.

Download PDF Brochure @ https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=10751

Increasing product innovations complemented with the development of novel chemicals to enhance the taste and appeal of functional food is further giving an impetus to the functional food ingredients market. Furthermore, the easy availability of a large variety of functional foods is favoring the growth of this market.

However, the market is challenged by stringent regulatory agencies that have a lengthy approval process before food is available for commercial sales. These mandates are based on the safety norms in place for foods to be suitable for consumption for varied social demographics and varied age groups. Accredited agencies such as the UN’s FAO and FDA are constantly monitoring the use of colors and chemicals in foods, especially for new markets such as the global functional food ingredients market. As such, product manufacturers are under pressure to obtain approvals prior to manufacture and distribution, which adds up to the time taken for the final product to be available for commercial sales.

In terms of revenue, the global market for functional food ingredients is projected to be worth US$32.4 bn by 2024 increasing from US$19.38 bn in 2015 at a CAGR of 6.0% between 2016 and 2024.

Rising Disposable Incomes and Increasing Spending on Health Benefitting Foods to Boost Functional Food Ingredients Market in Asia Pacific and Latin America

North America stood as the largest market for functional food in 2015 accounting for US$6.99 bn revenue of the overall market. The region is displaying a robust demand for functional foods in comparison to functional beverages due to their increasing availability in restaurants and eating joints.

However, the emerging economies of Asia Pacific and Latin America are currently offering tremendous growth opportunities for players in the functional food ingredients market. Countries such as China, India, Brazil, and other nations that are in similar state of intense economic growth have a large working class population with disposable incomes and are spending heftily on healthy foods and nutritional supplements. This is expected to translate into great opportunities for manufacturers of functional food ingredients and also due to relatively relaxed regulations in Latin America and Asia Pacific.

Demand for Functional Foods to Remain High from Functional Beverages Segment

The demand for functional foods is expected to outdo the demand for functional beverages. Although beverages have been popular due to ease of manufacturing and can be modified to myriad tastes, functional foods are displaying a greater demand for health reasons.

Some of the leading players operating in the global functional food ingredients market are Associated British Foods PLC, Cargill Incorporated, Archer Daniels Midland Company, BASF SE, DMH Ingredients, Ajinomoto Co. Inc., Kerry Group PLC, Ingredion Incorporated, E.l. Du Pont De Nemours and Company, Arla Foods, and Koninklijke Dsm N.V.

Functional Food Ingredients Market: The Biggest Trends to Watch out for 2016-2024

The vendor landscape of the market for functional food ingredients is a consolidated one. Three companies, Associated British Foods PLC, Cargill, Inc., and BASF SE are dominating the market, according to a report published by Transparency Market Research. These three companies collectively account for the 52.8% of the total market share of functional food ingredients market in 2015. There are other local players as well in various regions worldwide who have fierce competition with these key players.

Download exclusive Sample of this report: https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=10751

The report by Transparency Market Research observed the consolidated nature of the global functional food ingredients market owing to the aggressive and effective marketing strategies adopted by the leading players. Acquisitions and merger with local players is also another contributing factor towards the consolidated nature of the said market.

The revenue of the global functional food ingredients market was valued at US$20.35 bn in 2016 and the market is expected to reach US$32.40 bn towards the end of the forecast period of 2016-2024. The market is anticipated to expand at a CAGR of 6.0 % during the forecast period.

Developing Economies to Emerge as the Most Promising Markets

North America accounts for dominant share in the market, with the market in Europe occupying the next spot. Countries such as India, Brazil, and China are of high-value to the players in the global functional food ingredients industry. Intense economic growth of the region along with the ever-expanding working class population, who now has more disposable income to spend, have made the region a lucrative market for the industry. Furthermore, relaxed rules and regulations in the Latin American and Asia Pacific countries would further bolster the growth of the global functional food ingredients market. The region of Asia Pacific and Latin America would, thus, continue to be immensely important for the manufacturers of functional food.

It is also forecasted that the demand for functional food is to surpass the demand for functional beverage. Despite ease of manufacturing and consumption, functional foods are gaining popularity owing to their health benefits. The segment of probiotics is anticipated to be the leading one as more and more manufacturing companies are incorporating probiotic bacteria in various products. Most of the dairy products such as yoghurt are being incorporated with probiotic bacteria.

Growing Health Awareness to Fuel Growth

The most important factor contributing towards the growth of the global functional food ingredients market is the advantages of functional foods over conventional diets and regular food products. According to the report, research carried out in the recent past has revealed the effectiveness of functional foods. Amidst increasing concern and awareness for personal health, consumers are gradually shifting their preferences towards healthy foods of high-value nutrition from junk and convenience food. More consumers are now seen stocking up healthy functional foods of high-nutritive value.

However, stringent regulations and strict scrutiny concerning the food industry continue to pose a challenge for the overall expansion of the global functional food ingredients market. Various regulatory bodies such as Food and Drug Administration, United Nations’ Food and Agriculture Organization are continuously monitoring the use of chemicals in food. These factors pressurize manufacturers to get approvals for the distribution and production thereby delaying the whole process.

Functional Food Ingredients Market: Demand for Functional Foods to Remain High from Functional Beverages Segment

Global Functional Food Ingredients Market: Snapshot

The increasing demand for health benefitting foods that is needed beyond basic nutrition to promote optimal health is currently the cornerstone of the development of functional food ingredients market. The growing awareness among a large population demographic regarding the consumption of nutritive food rather than only satisfying taste and appeal considerations is providing a strong basis for the growth of players in the market. As a result, consumers are opting for nutritive convenience foods and nutritionally fortified foods in place of traditional convenience and junk foods. In particular, in developed economies, the changing perception of food cabinet as a medical cabinet is leading to an increasing number of consumers stocking up on wholesome foods. Hence, functional foods are increasingly becoming a commonality in the kitchens of health-savvy consumers.

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Increasing product innovations complemented with the development of novel chemicals to enhance the taste and appeal of functional food is further giving an impetus to the functional food ingredients market. Furthermore, the easy availability of a large variety of functional foods is favoring the growth of this market.

However, the market is challenged by stringent regulatory agencies that have a lengthy approval process before food is available for commercial sales. These mandates are based on the safety norms in place for foods to be suitable for consumption for varied social demographics and varied age groups. Accredited agencies such as the UN’s FAO and FDA are constantly monitoring the use of colors and chemicals in foods, especially for new markets such as the global functional food ingredients market. As such, product manufacturers are under pressure to obtain approvals prior to manufacture and distribution, which adds up to the time taken for the final product to be available for commercial sales.

In terms of revenue, the global market for functional food ingredients is projected to be worth US$32.4 bn by 2024 increasing from US$19.38 bn in 2015 at a CAGR of 6.0% between 2016 and 2024.

Rising Disposable Incomes and Increasing Spending on Health Benefitting Foods to Boost Functional Food Ingredients Market in Asia Pacific and Latin America

North America stood as the largest market for functional food in 2015 accounting for US$6.99 bn revenue of the overall market. The region is displaying a robust demand for functional foods in comparison to functional beverages due to their increasing availability in restaurants and eating joints.

However, the emerging economies of Asia Pacific and Latin America are currently offering tremendous growth opportunities for players in the functional food ingredients market. Countries such as China, India, Brazil, and other nations that are in similar state of intense economic growth have a large working class population with disposable incomes and are spending heftily on healthy foods and nutritional supplements. This is expected to translate into great opportunities for manufacturers of functional food ingredients and also due to relatively relaxed regulations in Latin America and Asia Pacific.

Demand for Functional Foods to Remain High from Functional Beverages Segment

The demand for functional foods is expected to outdo the demand for functional beverages. Although beverages have been popular due to ease of manufacturing and can be modified to myriad tastes, functional foods are displaying a greater demand for health reasons.

Some of the leading players operating in the global functional food ingredients market are Associated British Foods PLC, Cargill Incorporated, Archer Daniels Midland Company, BASF SE, DMH Ingredients, Ajinomoto Co. Inc., Kerry Group PLC, Ingredion Incorporated, E.l. Du Pont De Nemours and Company, Arla Foods, and Koninklijke Dsm N.V.

Functional Food Ingredients Market Expected to Advance at a CAGR of 5.1% from 2016 to 2024

Global Functional Food Ingredients Market: Overview

This report covers the analysis and forecast of the functional food ingredients market on a global and regional level. The study provides historic data of 2015 along with forecast for the period between 2016 and 2024 based on volume (Kilo Tons) and revenue (US$ Bn).

The study provides a decisive view of the functional food ingredients market by segmenting it based on ingredients type, health benefits, application, and regional demand. Application segments have been analyzed based on current trends and future potential. The market has been estimated from 2016 to 2024 in terms of volume (Kilo Tons) and revenue (US$ Bn). Regional segmentation includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. These have been further sub-segmented into countries and regions with relevance to the market. The segmentation also includes demand for individual applications in all regions.

The study covers the drivers and restraints governing the dynamics of the market along with their impact on demand during the forecast period. Additionally, the report includes potential opportunities in the functional food ingredients market on the global and regional level.

Global Functional Food Ingredients Market: Scope of the Study

The study encompasses market attractiveness analysis, wherein applications have been benchmarked based on their market size, growth rate, and general attractiveness for future growth.

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The market has been forecast based on constant currency rates. Prices of functional food ingredients vary in each region and are a result of the demand-supply scenario in the region. Hence, a similar volume-to-revenue ratio does not follow for each individual region. Individual pricing of functional food ingredients for each application has been taken into account while estimating and forecasting market revenue on a global basis. Regional average price has been considered while breaking down the market into segments in each region.

Global Functional Food Ingredients Market: Research Methodology

The report provides the size of the functional food ingredients market in 2015 and the forecast for the next nine years up to 2024. The size of the global functional food ingredients market is provided in terms of both volume and revenue. Market volume is defined in Kilo Tons, while market revenue for regions is in US$ Bn. The market size and forecast for each product segment is provided in the context of global and regional markets. Numbers provided in this report are derived based on demand generated from different applications and types of raw materials.

Market estimates for this study have been based on volume, with revenue being derived through regional pricing trends. The price for commonly utilized grades of functional food ingredients in each application has been considered, and customized product pricing has not been included. Demand for functional food ingredients has been derived by analyzing the global and regional demand for functional food ingredients in each application. The global functional food ingredients market has been analyzed based on expected demand. Market data for each segment is based on volume and corresponding revenues. Prices considered for calculation of revenue are average regional prices obtained through primary quotes from numerous regional suppliers, distributors, and direct selling regional producers based on manufacturers’ feedback. Forecasts have been based on the expected demand from functional food ingredients. We have used the top-down approach to estimate the global functional food ingredients market, split into regions.

The product type split of the market has been derived using a top-down approach for each regional market separately, with the global product type segment split being an integration of regional estimates. Companies were considered for the market share analysis based on their product portfolio, revenue, and manufacturing capacity. In the absence of specific data related to the sales of functional food ingredients of several privately held companies, calculated assumptions have been made in view of the company’s product portfolio and regional presence along with the demand for products in its portfolio.

Global Functional Food Ingredients Market: Competition Analysis

The report covers a detailed competitive outlook that includes market share and company profiles of key players operating in the global market. Key players profiled in the report include Cargill, Incorporated (U.S.), Ingredion Incorporated (U.S.), Archer Daniels Midland Company (U.S.), Kerry Group PLC (Ireland), Associated British Foods PLC (U.K.), E. I. Du Pont De Nemours and Company (U.S.), Arla Foods (Denmark), BASF SE (Germany), Koninklijke Dsm N.V. (Netherlands), DMH Ingredients (U.S.), Ajinomoto Co., Inc. (Japan).

Functional Food Ingredients Market: High Nutritional Value of Functional Foods Attracts Large Volume of Consumers Globally

Global Functional Food Ingredients Market: Snapshot

The increasing demand for health benefitting foods that is needed beyond basic nutrition to promote optimal health is currently the cornerstone of the development of functional food ingredients market. The growing awareness among a large population demographic regarding the consumption of nutritive food rather than only satisfying taste and appeal considerations is providing a strong basis for the growth of players in the market. As a result, consumers are opting for nutritive convenience foods and nutritionally fortified foods in place of traditional convenience and junk foods. In particular, in developed economies, the changing perception of food cabinet as a medical cabinet is leading to an increasing number of consumers stocking up on wholesome foods. Hence, functional foods are increasingly becoming a commonality in the kitchens of health-savvy consumers.

Increasing product innovations complemented with the development of novel chemicals to enhance the taste and appeal of functional food is further giving an impetus to the functional food ingredients market. Furthermore, the easy availability of a large variety of functional foods is favoring the growth of this market.

However, the market is challenged by stringent regulatory agencies that have a lengthy approval process before food is available for commercial sales. These mandates are based on the safety norms in place for foods to be suitable for consumption for varied social demographics and varied age groups. Accredited agencies such as the UN’s FAO and FDA are constantly monitoring the use of colors and chemicals in foods, especially for new markets such as the global functional food ingredients market. As such, product manufacturers are under pressure to obtain approvals prior to manufacture and distribution, which adds up to the time taken for the final product to be available for commercial sales.

In terms of revenue, the global market for functional food ingredients is projected to be worth US$32.4 bn by 2024 increasing from US$19.38 bn in 2015 at a CAGR of 6.0% between 2016 and 2024.

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Rising Disposable Incomes and Increasing Spending on Health Benefitting Foods to Boost Functional Food Ingredients Market in Asia Pacific and Latin America

North America stood as the largest market for functional food in 2015 accounting for US$6.99 bn revenue of the overall market. The region is displaying a robust demand for functional foods in comparison to functional beverages due to their increasing availability in restaurants and eating joints.

However, the emerging economies of Asia Pacific and Latin America are currently offering tremendous growth opportunities for players in the functional food ingredients market. Countries such as China, India, Brazil, and other nations that are in similar state of intense economic growth have a large working class population with disposable incomes and are spending heftily on healthy foods and nutritional supplements. This is expected to translate into great opportunities for manufacturers of functional food ingredients and also due to relatively relaxed regulations in Latin America and Asia Pacific.

Demand for Functional Foods to Remain High from Functional Beverages Segment

The demand for functional foods is expected to outdo the demand for functional beverages. Although beverages have been popular due to ease of manufacturing and can be modified to myriad tastes, functional foods are displaying a greater demand for health reasons.

Some of the leading players operating in the global functional food ingredients market are Associated British Foods PLC, Cargill Incorporated, Archer Daniels Midland Company, BASF SE, DMH Ingredients, Ajinomoto Co. Inc., Kerry Group PLC, Ingredion Incorporated, E.l. Du Pont De Nemours and Company, Arla Foods, and Koninklijke Dsm N.V.

Functional Food Ingredients Market: Consumers Make Beeline amid High Health Benefit Awareness & Successful Marketing Strategies

BASF SE, Cargill, Inc., and Associated British Foods PLC were the dominant names in the global functional food ingredients market for 2015. Their collective share of 52.8% speaks a lot about the consolidated nature of the global functional food ingredients market, especially due to the stronger presence of these players in developed economies. There also exist a large number of local players across all regions that have to compete with the key players.

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As per a report published by Transparency Market Research, the global functional food ingredients market is in a state of consolidation, especially by larger and prominent players with local entities in terms of mergers, acquisitions, and aggressive marketing strategies. In terms of revenue, the global functional food ingredients market is expected to reach 20.35 bn by the end of 2016, and is expected to reach US$32.40 bn by 2024, after expanding at a CAGR of 6.0% from 2016 to 2024. In terms of volume, the global functional food ingredients market is expected to advance at a CAGR of 5.1% from 2016 to 2024.

High Nutritional Value of Functional Foods Attracts Large Volume of Consumers Globally

“The leading factor contributing to the growth of the global functional food ingredients market is the advantages that it holds over conventional foods and diets. Studies conducted in the recent past had already shown the effectiveness of functional foods in the intake of nutritive supplements. This was followed by a quickly-growing demographic of consumers from each economic class favoring functional foods amid a growing concern for personal health. Consumers are showing signs of slowly progressing towards healthier foods over convenience and junk foods. One change in perspective especially visible in developed economies is the perception of a food cabinet as a medicine cabinet, as more and more consumers are stocking up their food supplies at home on the basis of completing a wholesome diet. This is instrumental in bringing the growing variety of functional foods into the kitchens of common consumers,” states a TMR analyst.

An interesting factor augmenting the global functional food ingredients market is the incorporation of elements of functional nutrition into convenience foods. There is a growing number of convenience foods available in the market today that can help consumer save time taken to eat while adding a heavily marketed nutritive aspect rather than the conventional path of taste and appeal. Players from the food and beverages industry are also progressing fast into research and development efforts to improve the taste of functional foods and to incorporate them in a wider array of food and beverage types.

Regulations Continue to Hinder Functional Foods Production

Foods especially are heavily controlled in terms of approval and regional distribution by several regulatory bodies. These regulations are based on the safety of consumption of foods by several social demographics and age groups, along with the use of permissible flavorings and food colors. Organizations such as the FDA and the UN’s FAO are constantly monitoring the usage of chemicals in foods and being a new market, the global functional food ingredients market is under strict scrutiny. This will increase the pressure on manufacturers to obtain approvals before manufacture and distribution and adds to the time taken for a food product to reach shelves.

“The emerging economies are currently of very high value to players from the global functional food ingredients market. China, Brazil, India, and other nations in the similar economic state of intense growth are revealing the perfect audience for healthy foods and nutritional supplements, within a growing working class that holds a growing amount of disposable income. This will continue to be a field of great opportunities for functional food ingredients manufacturers, also due to the relatively relaxed regulations in the Asia Pacific and Latin America,” adds the analyst.

The information presented in this review is based on a Transparency Market Research report, titled, “Functional Food Ingredients Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2016 - 2024.”

Key Segments of the Global Functional Food Ingredients Market

Global Functional Food Ingredients Market: By Ingredient Type

• Vitamins
• Proteins and Amino Acids
• Minerals
• Probiotics
• Prebiotics and Dietary Fiber
• Carotenoids
• Omega 3 and 6 fatty acids
• Essential Oils
• Soy Protein
• Hydrocolloids
• Others

Global Functional Food Ingredients Market: By Health Benefits

• Nutrition
• Bone Health
• Heart Health
• Weight Management
• Gut Health
• Immunity
• Others

Global Functional Food Ingredients Market: By Application

• Baby Food
• Sports/Nutrition Bars
• Dairy Alternatives
• Meat Alternatives
• Convenience Beverage
• Others