Chicago, Aug. 02, 2022 (GLOBE NEWSWIRE) -- According to MarketsandMarkets™, the "Functional Food Ingredients Market by Type (Probiotics, Prebiotics, Proteins & Amino Acids, Phytochemicals & Plant Extracts, Omega-3 Fatty Acids, Carotenoids, and Fibers & Specialty Carbohydrates), Source, Application, and Region - Global Forecast to 2026", is estimated to reach USD 137.1 billion by 2026, from USD 98.9 billion in 2021, at a CAGR of 6.8% during the forecast period.
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Increasing instances of micronutrient deficiencies in various countries compelled the government to mandate the food fortification process will boost the consumption of functional food ingredients during the forecast period. In addition to this, increasing consumers’ understanding of nutrition inclusion in their diet will also help the functional food ingredients.
Browse in-depth TOC on "Functional Food Ingredients Market"
252 – Tables
72 – Figures
326 – Pages
Probiotics type leads the functional food ingredients market globally.
Probiotics are used in the food & beverage industry on large scale owing to their functional benefits offered to human health. Dairy products, processed fruits & vegetables, bakery products, confectionery products, and extruded snacks are the major applications of probiotics in the food & beverage industry. The type provides numerous health benefits in diarrhea, colon cancer, intestinal imbalance, and secondary infections, owing to which the adoption of probiotics is comparatively high across the globe.
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The food application dominated the market in 2020.
The growing middle-class population and urbanization which has led to an increase in the disposable income of the people have boosted the market for functional food globally. The market for functional food is increasing as consumers prefer a balanced diet that also enhances immunological tolerance, hence the demand for high-quality nutritive, fortified, and convenience food products is increasing. Infant food is the major food in which functional food ingredients are used as the food promotes and improve the healthy growth & development of infants. As per the World Health Organization, malnutrition is the major cause of child death globally and the cause holds around 45% in 2019. The USDA has framed detailed guidelines for assembling the macronutrients intake of infants which has increased the demand for this functional food globally which resulted in the increasing demand for functional food ingredients
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The North American region dominates the functional food ingredients market.
- The existence of a health-conscious population in the region is the major for the large market share for functional food ingredients. The rise in the number of fitness enthusiast consumers in the North American region will also be triggering the demand for functional food ingredients.
- According to the “Datassential 2019”, high-protein, vegetable-rich foods, and superfoods are the most attractive consumers food. All these factors are the major reasons for the large consumption of functional food ingredients in the region.
Key Market Players
- Key players in this market include Cargill, Incorporated (US), BASF SE (Germany), Archer Daniels Midland Company (US), DuPont (US), Arla Foods (Denmark), Kerry Group (Ireland), Ajinomoto Co., Inc. (Japan), Koninklijke DSM N.V. (Netherlands), Ingredion Incorporated (US), and Tate & Lyle PLC (UK).
- Some of the other players include Chr. Hansen Holding A/S (Denmark), Kemins Industries, Inc. (US), BENEO (Germany), Royal Cosun (Netherland), Roquette Frères (France), Soylent (US), A&B Ingredients (US), Golden Grain Group Limited (China), Sugarlogix (US), and Stratum Nutrition (US).
Related Reports:
Nutraceutical Ingredients Market by Type (Probiotics, Proteins, Amino Acids, Phytochemicals & Plant Extracts, Fibers & Specialty Carbohydrates), Application (Food, Beverages, Animal Nutrition, Dietary Supplements), Form, and Region - Global Forecast to 2025
Specialty Food Ingredients Market by Type (Acidulant, Colors, Flavors, Enzymes, Emulsifiers, F&B Starter Culture, Preservatives, Functional Food Ingredients, Specialty Starches, Sugar Substitutes), Distribution Channel - Global Forecasts to 2025
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