Market Size of Functional Food Ingredient Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 7.20 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Functional Food Ingredient Market Analysis
The Global Functional Food Ingredient Market is expected to grow at a CAGR of 7.2% during the forecast period.
Functional food ingredients in functional food are targeted to offer specific functions that are more than just basic nutrition. These ingredients play a vital role in protecting against acute and chronic diseases. Functional foods contain natural or synthetic ingredients that promote optimal health and provide energy-boosting benefits. Prebiotics are one such ingredient that promotes the growth of bacteria in the large intestine that are beneficial to intestinal health while inhibiting the growth of bacteria that are potentially harmful to intestinal health.
Consumers are now seeking microbiome ingredients such as probiotics, prebiotics, essential oils, hydrocolloids, and postbiotics in customized food and beverage products attributed to rising health awareness among consumers regarding nutritious convenience food. This factor has led food and beverage manufacturers to seek functional food ingredients, thereby, driving the growth of the market over the review period.
The functional food ingredients market is anticipated to grow in the forecast period owing to driving factors such as a rise in consumption of fortified food on account of increasing health awareness among consumers and demands for nutritious convenience food. Factors such as healthcare expenditure, adoption of preventive healthcare coupled with the desire of consumers awareness towards health advantages of functional foods are supporting regional growth. Nonetheless, the market opportunity lies in the growing health-conscious population in developing nations during the forecast period.
