In 2024, the functional food ingredients market is valued at USD 11.31 billion, poised to grow to USD 21.74 billion by 2034, reflecting a robust compound annual growth rate (CAGR) of 6.8% throughout the forecast period.
The rise in lifestyle-related diseases such as diabetes and cardiovascular disorders is increasingly prevalent across developed nations like the United States, India, and China. This trend is prompting advances in food technology, including the creation of innovative functional ingredients such as bioactive peptides, probiotics, and plant-based alternatives. Concurrently, there’s a growing consumer awareness about the significance of healthy lifestyles and preventive healthcare, amplifying the demand for nutritional food choices.
Access strategic insights into current industry trends in Functional Food Ingredients Market Request your sample report.
Modern lifestyles have also been linked to several psychological difficulties such as depression, inattention, and cognitive impairment. People are focused on the consumption of nutritious and nutritionally dense foods to avoid such ailments, which is expected to provide huge potential for the global functional food ingredients industry.
Functional food ingredients are increasingly favored by health-conscious consumers prioritizing wellness, actively seeking products that provide added health benefits beyond basic nutrition. Additionally, there is strong demand among the elderly, who are concerned about age-related health issues and seek functional foods that support overall well-being and address specific health concerns associated with aging.
Competitive Landscape
The global market for functional food ingredients is characterized by fragmentation, featuring major players like British Foods PLC, Cargill Incorporated, Archer Daniels Midland Company, BASF SE, and DMH Ingredients. These companies are forging partnerships with healthcare professionals, nutritionists, and dietitians to secure endorsements and recommendations for their functional food products. Meanwhile, new entrants are striving to gain a foothold in this rapidly expanding sector, primarily targeting millennials. They are leveraging technological advancements to introduce innovative functional food components and establish a competitive edge in the market.
Key Companies in the Market:
- Kerry Group
- Cargill, Incorporated
- Archer Daniels Midland (ADM)
- DuPont Nutrition & Biosciences
- Ingredion Incorporated
- Tate & Lyle PLC
- BASF SE
- Royal DSM
- Arla Foods Ingredients
- Chr. Hansen Holding A/S
- Glanbia plc
- FrieslandCampina
- Roquette Frères
- Naturex (acquired by Givaudan)
- Kemin Industries, Inc.
- Bioriginal Food & Science Corp.
- Sabinsa Corporation
- Nutraceutical International Corporation
- AIDP, Inc.
- Brenntag Group
Recent Developments:
- In October 2023, Korean researchers unveiled NaturaPredicta, an AI model accelerating the identification of healthy functional food ingredients. Using natural language processing and BioBERT, it compared the functionalities of botanical ingredients, bypassing preclinical or clinical tests and streamlining the development of innovative functional foods.
- In December 2023, Lactocore Group and Ingredia SA collaborated on innovative functional food ingredients to alleviate mood disorders in humans and animals. The partnership aimed to develop a new product using dairy proteins, particularly Lactocore’s proprietary milk peptide hydrolysate.
- In September 2023, GoodMills Innovation unveiled a range of plant-based products at Food Ingredients Europe. The offerings included VITATEX texturates, SMART legume flours, and Slow Milling range for clean-label baked goods. SpermidineEvo, a natural wheat germ concentrate for nutraceuticals, was also introduced.
- Arla Foods Ingredients and Zhongbai Xingye Food Technology (Beijing), a Brenntag Group company, signed a distribution agreement in August 2023 to cater to the Chinese food and nutrition markets. The collaboration strengthens their existing relationship and expands Arla Foods Ingredients’ presence in China.
Gain Exclusive Access to Growth Strategies in Functional Food Ingredient Market Grab Your Essential Report
Market Segmentation:
By Type:
- Probiotics
- Prebiotics
- Proteins and Amino Acids
- Phytochemicals and Plant Extracts
- Omega-3 Fatty Acids
- Carotenoids
- Fibers and Specialty Carbohydrates
By Source:
- Natural
- Synthetic
By Application:
- Food and Beverage
- Dairy Products
- Bakery and Confectionery
- Animal Feed
By Purpose:
- Weight Management
- Digestive Health
- Cardio Health
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube