Market for Functional Food Ingredients Industry is Booming on Health and Wellness Trends

Chicago, May 03, 2024 (GLOBE NEWSWIRE) — Functional food ingredients are bioactive compounds that are added to food or beverages to promote health benefits beyond basic nutrition. These ingredients can be derived from a variety of sources, including plants, animals, microorganisms, and minerals. The global functional food ingredients market size, valued at USD 119.2 billion in 2024, showcases a remarkable growth projection, anticipated to escalate to USD 165.8 billion by 2029, indicating a robust compound annual growth rate (CAGR) of 6.8% during the forecast period.

Some common examples of functional food ingredients include:

  • Probiotics: Live bacteria that can improve gut health. Probiotics are found in yogurt, kefir, kimchi, and some sauerkraut.
  • Prebiotics: Non-digestible fibers that feed probiotics and promote gut health. Prebiotics are found in fruits, vegetables, whole grains, and legumes.
  • Fiber: Dietary fiber can help with digestion, weight management, and blood sugar control. Fiber is found in fruits, vegetables, whole grains, and legumes.
  • Omega-3 fatty acids: These healthy fats can improve heart health, brain function, and reduce inflammation. Omega-3 fatty acids are found in fatty fish, flaxseeds, chia seeds, and walnuts.
  • Antioxidants: These compounds can protect cells from damage and may reduce the risk of chronic diseases such as cancer and heart disease. Antioxidants are found in fruits, vegetables, whole grains, and nuts.

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Some of the Market Players in the Functional Food Ingredients Industry

  • Cargill, Incorporated (US)
  • BASF SE (Germany)
  • ADM (US)
  • International Flavors & Fragrances Inc. (US)
  • Arla Foods amba (Denmark)
  • Kerry Group plc (Ireland)
  • Ajinomoto Co., Inc. (Japan)
  • DSM (Netherlands)
  • Ingredion (US)
  • Tate & Lyle (UK)
  • TEIJIN LIMITED (Japan)

The emergence of the “beauty from within” trend has significantly fueled the demand for the functional food ingredients market

The functional food ingredients market is thriving, driven by a growing emphasis on health and wellness among consumers. This shift in consumer behavior is fueled by several factors, including:

  • Rising awareness of health and wellness:  People are increasingly aware of the link between diet and health outcomes, leading them to prioritize healthier food choices.
  • Accessibility of information: Widespread access to information through various media channels empowers consumers to make informed decisions about their diets. Scientific research highlighting the benefits of certain nutrients further fuels this trend.
  • Demographic shifts: An aging population and a growing middle class in emerging economies are creating a demand for functional foods that address specific health concerns.
  • The “beauty from within” trend: Consumers are recognizing the connection between diet and physical appearance, leading to a surge in demand for functional foods that promote beauty from within.

These trends are creating a market for functional food ingredients rich in bioactive compounds like protein, vitamins, and omega-3 fatty acids. These ingredients offer a natural way to improve health and appearance, appealing to consumers seeking preventive healthcare and alternatives to traditional beauty regimens.

Functional Food Applications: Food Leads the Way

The food segment holds the largest share of the functional food ingredients market. This dominance can be attributed to several factors:

  • Essential part of daily life: Food provides a natural and convenient way to incorporate functional ingredients into consumers’ diets.
  • Versatility: Functional ingredients can be seamlessly integrated into various food categories like bakery, confectionery, dairy, and savory snacks, without significantly altering taste or texture.
  • Streamlined regulations: Regulatory processes for functional ingredients in food products are generally less stringent compared to beverages and nutraceuticals, allowing for faster product development and market entry.

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North America Takes the Lead

North America is expected to remain at the forefront of the functional food ingredients market. This dominance is driven by several factors:

  • High dietary supplement usage: Consumers in North America widely adopt dietary supplements, indicating a strong market for functional food ingredients.
  • Robust R&D infrastructure: The region boasts a strong infrastructure for research and development in the food and beverage industry, facilitating innovation in functional ingredients.
  • Stringent regulations: Strong regulatory frameworks ensure the safety and efficacy of functional food ingredients, bolstering consumer trust and market growth.
  • Focus on health and wellness: Consumers in North America are increasingly seeking products with tangible health benefits, driving demand for functional foods with ingredients like carotenoids, protein, and amino acids.

The convergence of health, wellness, and beauty aspirations is expected to propel the functional food ingredients market further in the coming years. As consumers become more informed and proactive about their health, the demand for functional food ingredients that offer a natural and holistic approach to well-being is likely to continue to rise.

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