NEW YORK, Nov. 29, 2022 /PRNewswire/ -- The functional food ingredients market size is estimated to grow by USD 48.06 billion. The growth momentum of the market will accelerate at a CAGR of 7.16% during the forecast period, according to Technavio. APAC held 37% of the global functional food ingredients market in 2022. The market in the region is estimated to grow at the fastest pace during the forecast period. The presence of many manufacturers of functional food ingredients and food additives in this region will facilitate the functional food ingredients market growth in APAC over the forecast period.
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Functional food ingredients market: Segmentation analysis
Technavio has segmented the functional food ingredients market based on product (probiotics and prebiotics, proteins and amino acid, dietary fibers, vitamins and minerals, and others), application (food and beverages, pharmaceuticals, and others), and geography (APAC, Europe, North America, Middle East and Africa, and South America). The report provides a comprehensive analysis on growth opportunities at regional levels, new product launches, the latest trends, and the post-pandemic recovery of the global market.
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The probiotics and prebiotics segment will grow at the highest rate during the forecast period. The health benefits associated with the consumption of prebiotics and probiotics will drive the growth of this segment during the forecast period. For example, the consumption of prebiotics helps in reducing the risk of cancer and increasing the absorption of calcium and magnesium.
Key factor driving market growth
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The increasing demand for functional food ingredients from the probiotics segment is driving the global functional food ingredients market growth.
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The probiotics segment is gaining traction, as consumers prefer a balanced diet. Probiotics provide immunity, nutritional benefits, and vitamin K.
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The demand for probiotic products, such as yogurt, kefir, sauerkraut, tempeh, kimchi, some varieties of cheese, buttermilk, and fermented soybeans, is high.
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Thus, the increasing demand for probiotic products will propel the growth of the global functional food ingredients market significantly during the forecast period.
Leading trends influencing the market
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The growth of the packaged food and beverage industry is a key trend in the global functional food ingredients market.
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The rise in disposable income and changes in food habits of consumers have increased the demand for packaged food products, especially in North America and Europe.
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Natural functional food ingredients prevent packaged food products from becoming stale and enhance their foam structure and stability.
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Thus, the growth of the packaged food and beverage sector will support the growth of the market significantly during the forecast period.
Drivers and trends are the factors of market dynamics that state about consequences and sustainability of businesses. Find insights from a free sample report!
Competitive analysis
The competitive scenario categorizes companies based on various performance indicators. Some of the factors considered include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, growth in market share, among others. Buy the report
What are the key data covered in this functional food ingredients market report?
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CAGR of the market during the forecast period
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Detailed information on factors that will drive the growth of the functional food ingredients market between 2022 and 2026
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Precise estimation of the size of the functional food ingredients market and its contribution to the parent market
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Accurate predictions about upcoming trends and changes in consumer behavior
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Growth of the functional food ingredients market across APAC, North America, Europe, Middle East and Africa, and South America
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Thorough analysis of the market's competitive landscape and detailed information about vendors
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Comprehensive analysis of factors that will challenge the growth of functional food ingredients market vendors
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Functional food ingredients market scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2022 |
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Historical year |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 7.16% |
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Market growth 2023-2027 |
USD 48.06 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
6.52 |
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Regional analysis |
APAC, Europe, North America, Middle East and Africa, and South America |
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Performing market contribution |
APAC at 37% |
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Key consumer countries |
US, China, India, Germany, and UK |
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Competitive landscape |
Leading companies, market positioning of vendors, competitive strategies, and industry risks |
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Companies profiled |
Ajinomoto Co. Inc., AMCO Proteins, American International Chemical LLC, Arla Foods amba, Associated British Foods Plc, BASF SE, Beneo GmbH, Bio Botanica Inc., Cargill Inc., Chr Hansen Holding AS, Cooperatie Koninklijke Cosun UA, Diana Food SAS, Givaudan SA, Ingredion Inc., International Flavors & Fragrances, Kemin Industries Inc., Kerry Group Plc, Koninklijke DSM NV, Tate & Lyle Plc, and Archer Daniels Midland Co. |
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Market Dynamics |
Parent market analysis; market growth inducers and obstacles; fast-growing and slow-growing segment analysis for the forecast period |
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Customization purview |
If our report has not included the data you are looking for, you can reach out to our analysts and get customized segments. |
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Table of Content
1 Executive Summary
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1.1 Market overview
2 Market Landscape
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2.1 Market ecosystem
3 Market Sizing
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3.1 Market definition
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3.3 Market size 2022
4 Historic Market Size
5 Five Forces Analysis
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5.1 Five forces summary
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5.6 Threat of rivalry
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5.7 Market condition
6 Market Segmentation by Product
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6.1 Market segments
7 Market Segmentation by Application
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7.1 Market segments
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
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10.1 Market drivers
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10.2 Market challenges
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10.4 Market trends
11 Vendor Landscape
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11.1 Overview
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11.2 Vendor landscape
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11.4 Industry risks
12 Vendor Analysis
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12.1 Vendors covered
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12.3 Ajinomoto Co. Inc.
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12.4 AMCO Proteins
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12.7 Arla Foods amba
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12.9 BASF SE
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12.10 Cargill Inc.
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12.12 Givaudan SA
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12.13 Ingredion Inc.
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12.16 Koninklijke DSM NV
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12.17 Tate and Lyle Plc
13 Appendix
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13.1 Scope of the report
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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Website: www.technavio.com/
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