Functional Food Ingredient Market Size, Share, Trends 2019-24

Functional Food Ingredient Market Insights

The global functional food ingredient market was valued at USD 2.54 billion in 2017 and is projected to reach USD 3.18 billion by 2023, at a CAGR of 6.2%, during the forecast period from 2018 to 2023. Major producers have been engaged in the strategies of focusing on innovation in products, expanding current operations and commencing new ones, and investing in products of other companies, among others.

Functional Food Ingredient Marke Market Dynamics

The rising incidence of chronic diseases is driving the consumers to shift toward healthier food options. Increasing consumer interest, and a better understanding of the immunity enhancing property of proper diet and food habits, are some of the key factors driving the growth of the global functional food ingredients market. Strict legislation imposed by governments across the globe prevents the expansion of the functional food ingredient market. In many countries, strict regulations are imposed on advertisements and labeling of products. Functional food ingredients are not easily available in supermarkets and grocery stores, and often tend to be expensive. Many consumers are unaware of how these products can be incorporated into their daily dietary intake. These factors, collectively, are obstructing the growth of the market.

However, functional food ingredient product sales have been and are expected to continue rising at a brisk rate. The high-rate of innovation in this field can lead to changes in the purpose of the product and re-position the product or, eventually, shift them from one target segment to another.

Functional Food Ingredient Market Segmentation

The global functional food ingredient market is segmented by type into - proteins & amino acids, vitamins, minerals, prebiotics, probiotics, hydrocolloids, essential oil, omega-3 & 6 fatty acids, and flavonoids & carotenoids. The market is segmented into confectionery, fortified dairy products, bakery and cereals, meat, fish & eggs, and others - based on application.

Regional Analysis

North America holds the maximum market share followed by Europe. Asia-Pacific region is growing with a higher rate, Countries, like China and India are driving the growth rate of functional food ingredient market in the region due to the intense economic growth, along with increase in number of working population.

Functional Food Ingredient Market Key Developments

June 2017 – Amway opened a new distribution Centre in major Thai market. Amway is a major seller of dietary supplements

October 2016 – ADM launched new line of fruit and vegetable functional extracts that can deliver a concentrated dose of the powerful antioxidant compounds beta-carotene and anthocyanins in a variety of food, beverage and supplement applications

Reasons to Purchase Functional Food Ingredient Market Report

Analyzing outlook of the market with the recent trends and Porter’s five forces analysis

Market dynamics, which essentially consider the factors, which are impelling the present market scenario, along with growth opportunities of the market in the years to come

Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and non-economic aspects

Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market

Competitive landscape involving the market share of major players, along with the key strategies adopted for development in the past five years

Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

3-month analyst support, along with the Market Estimate sheet in excel

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