20th August 2019 – 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. Additionally, growing
preference towards latest trends involving packaged food containing high
content of vitamins, minerals, and natural extracts is augmenting growth of the
market by creating a suitable environment for their regular use in foods and
beverages industry. Globally, the functional ingredients market is predicted to
grow at CAGR of 5.9% in forecast period, providing numerous opportunities for
market players to invest for research and development in the market.
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. 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.
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Applications 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. With substantial growth of the pharmaceutical sector across the
globe is expected drive demand of the functional ingredients over the forecast
period. Probiotics is considered as one of the key segment showcasing highest
growth in the functional ingredients industry in coming years.
Increasing occurrence of health
disorders like diabetes, obesity, and digestive disorders among geriatric
population across the globe is further propelling growth of the market in
recent years. With the recent developments of innovative products and rising
capital funding by major producers are fueling demand of the functional
ingredients market across different industry verticals. Furthermore, rise in
need for premium personal care products consisting of organic and herbal
variants are further contributing to the expansion of the market in upcoming
years. Application of the functional ingredients is further extending to sports
sectors as increasing demand for rice protein and high nutritional diet is on
the rise.
The functional ingredients are typically
termed as a bio-active compound that are utilized during production of
functional food products. The functional ingredients are mainly obtained from
various sources similar to primary harvest, marine resources, microorganisms
and inorganic base materials. Functional ingredients are also produced from
food processing waste with high nutritional value offering excess financial
benefits to food and beverages industry. Applications of the functional
ingredients also involves production of nutraceuticals.
The functional ingredients industry is
divided into regional market segment such as North America, Europe,
Asia-Pacific, Latin America and Africa. North America has shown major growth in
recent years owing to the rising health concerns and growing health problems
similar to diabetes, obesity, and digestive diseases coupled with presence of
prominent industry players in the region.
Asia-Pacific region is predicted to hold
major market share in the functional ingredients market with massive growth in
forecast period. Countries such as India, China and South Korea are leading the
Asia-Pacific market with favorable government regulations to encourage adoption
of functional foods and increasing investment by industry players considering
potential market opportunities in the region. The key players in the functional
ingredients industry are Archer Daniels Midland Company, Ingredion Inc., Golden
Grain Group Ltd., FMC Co., Omega Protein Co., NutriBiotic, Cargill Inc.
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