Functional Food Ingredients Market Size Share Growth Analysis Outlook 2030

February 12 20:56 2023
Functional Food Ingredients Market Size Share Growth Analysis Outlook 2030
Functional Food Ingredients Market – DataM Intelligence
Functional Food Ingredients Market is expected to reach a high CAGR of 6.5% during the forecasting period (2023 – 2030)

Functional Food Ingredients Market Overview

  • Functional foods give additional advantages beyond basic nutrition. Some functional foods are generated around a particular functional ingredient.
  • The market is segmented by type into vitamins, minerals, prebiotics, essential oil, Hydrocolloids omega-3 & 6 fatty acids, and others. The market is segmented into confectionery, dairy products, soy products, and fruits & vegetables based on application.

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Functional Food Ingredients Market Opportunities

  •  The emergence of non-traditional fitness activities is one of the major drivers of the market.
  • Consumers are looking beyond traditional gyms to improve their fitness. More women are now taking part in fitness activities such as yoga and aerobics.
  • The increasing prominence of non-traditional fitness activities such as yoga is having a direct impact on consumer spending on products related to these activities.
  • According to recent estimations nearly USD 27 billion is spent in 2017 on yoga products in the US, and the spending on yoga products in the country has increased by more than 85% over the last five years.

Functional Food Ingredients Market Restraints

  •  However, stringent regulations are hindering market growth. Players in the global functional foods and beverages market face issues complying with the stringent rules and regulations imposed by the authorities in the countries they operate in.
  • These rules and regulations pertain to the grant of permits, the entry of new players, the launch of new products, and the expiry of products.

Functional Food Ingredients Market Geography Analysis

  •  North America leading the global food ingredients market in 2017 with approximately 36% of the global market followed by Europe and Asia-Pacific.
  • North American market is driven by increasing consumer awareness of health and wellness a growing focus on outdoor fitness and sports activities.
  • The growing number of health-conscious people looking for healthy alternatives to soft drinks also bodes well for the market.
  • The United States is the largest market for functional food ingredients market among all other countries. It holds nearly 26% of the global market.
  • The United States functional food ingredients market value was USD 736 million in 2017 and is expected to reach USD 1.2 billion by 2025 with a CAGR of 7.22% during the forecast period.
  • On another hand, Asia-Pacific functional food ingredients market is growing at a faster pace as compared to other regions.
  • China and Japan are the major countries in this region. The high demand for functional and packaged foods coupled with the increasing disposable incomes of consumers is the major driver of the functional food ingredients market in APAC.

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Functional Food Ingredients Segmentation

  • The report covers the factors impacting the market, Porter 5 Forces, Competitive Scenario, Price trend analysis, Product Benchmarking, and company profiles.
  • Functional Food Ingredients Market is segmented by resin type into Vitamins, Minerals, Prebiotics, Omega-3 & 6 Fatty Acids, Essential Oils, Hydrocolloids, and Others (Proteins and Amino Acids).
  • By application, the market is categorized into Confectionaries, Dairy Products, Soy Products, and Fruits & vegetables. Geographically, the market is segmented into – North America, South America, Europe, Asia Pacific, and the Rest of the World.

Key Players In The Market

  •  The global functional food ingredients market is consolidated with a few international players.
  • Cargill, Inc., Associated British Foods PLC, and BASF SE are leading the market in 2017 and they anticipated to collectively hold a large share of the overall market throughout the forecast period.
  • The competition among the vendors may force them to reduce their product prices, negatively affecting their margins and market growth.
  • The market currently includes companies of varying sizes. Some companies are more specialized than others; some also have larger financial resources than others.
  • Intense competition among players and rapid technological changes pose a significant risk to the operation of the market players.
  • Therefore, to survive and succeed in the competitive environment, the manufacturers in the market need to distinguish their product and service offerings through clear and unique value propositions.

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