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Functional Food Ingredients Market Size to Hit USD 167.5 Bn by 2030

·7-min read
Precedence Research
Precedence Research

According to Precedence Research, the global functional food ingredients market size is projected to hit around USD 167.5 billion by 2030 and expanding growth at a CAGR of 5.51% from 2022 to 2030.

Ottawa, June 29, 2022 (GLOBE NEWSWIRE) -- The global functional food ingredients market was valued at USD 103.4 billion in 2021. The tendency toward wholesome and comfort food and the ascent popular for strengthened food and drink items are supposed to drive the development of the utilitarian functional food ingredients market during the gauge time frame.

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  • North America accounted 33% market share in 2021.

  • Food and beverages segment accounted largest revenue share 47% in 2021.

  • Probiotics segment Garnered 54% revenue share in 2021.

  • Rice protein segment is expected to grow at a CAGR of 8.9% from 2022 to 2030

Prebiotics and probiotics are the arising utilitarian food fixing sections in which specialists are zeroing in on creating various applications and advantages. Nutrigenomics or customized nourishment is a particular eating regimen wherein food researchers try to treat ongoing medical issue like cardiovascular sickness, corpulence, Alzheimer's infection, and diabetes utilizing explicit useful food fixings. It is an arising idea in the practical food fixings market, and driving food producers like Cargill (US), Archer Daniels Midland Company (US), and Kimonolike DSM N.V. (Netherlands) are putting considerably in R&D. The most widely recognized arising advances in the practical food fixings industry are high-hydrostatic tension, ultrasound-helped and microwave-helped extraction, beat electric field, radio-recurrence drying, high voltage electrical release, and supercritical liquids. Other arising advances still a work in progress incorporate cold plasma treatment, electro-osmotic dewatering, and nanoencapsulation.

Scope of the Report

Report Attributes

Details

Market Size in 2021

USD 10.69 Billion

Revenue Forecast by 2030

USD 19.5 Billion

CAGR

6.91% from 2022 to 2030

Base Year

2021

Forecast Year

2022 to 2030

Key Players

Demant A/S, Starkey Laboratories, Inc., Cochlear Ltd., RION Co., Ltd, Microson, GN Store Nord A/S, Sonova Group

Report highlights

  • Plant source is projected to be the fastest creating segment in the standard source area from 2021 to 2030.

  • The energy drinks section the refreshments application is projected to develop at the most noteworthy CAGR during the conjecture time frame. Functional food ingredients like nutrients, minerals, and proteins are utilized in caffeinated drinks. Numerous caffeinated drinks have been created by organizations to give explicit clinical or medical advantages, for example, advancing heart wellbeing, further developing resistance, and assisting with helping energy. With the widening scope of utilitarian applications being looked for by purchasers, providers are hoping to use new fixings that better meet the practical objectives of customers. In the games drink field, providers are growing their selection of fixings to improve sports sustenance benefits. Drinks with creatine's and branch-affixed amino acids are filling in prevalence.

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Regional Snapshot

The North American market represented the biggest offer in 2021. This market is projected to be driven by the expansion in customer interest for sound accommodation food because of their bustling ways of life. Further, expanding events of stoutness and cardiovascular infections have driven purchasers to request practical food items, accordingly driving the market for useful food fixings. The South American market is projected to develop at the most noteworthy CAGR from 2021 to 2026. The developing food handling industry in the district, alongside the developing wellbeing cognizance, straightforwardly affects the utilitarian food fixings industry in the locale attributable to the utilization of practical food fixings in caffeinated drinks and bars, dairy items, and baby braced food. This is the vital justification behind the high development paces of a wide range of useful food fixings around here.

Market Dynamics

Drivers

The worldwide interest for invigorated food is growing at a hearty speed. Useful food fixings like nutrients, minerals, cell reinforcements, hydrocolloids, prebiotics, amino acids, plant concentrates, and carotenoids are the vital elements of strengthened food. The wellbeing cognizant populace is quickly extending in developing business sectors, which will drive the interest for the stronghold of food. The wholesome utilization contrasts across districts contribute enormously to the obvious contrasts in the soundness of populaces across the nations. Different factors like expanding cases of constant illnesses and micronutrient lacks, development of the working class in arising economies, new government stronghold programs, development of the world's more seasoned populace in areas like Europe, and developing interest in wellbeing and health, attributable to COVID-19, is supposed to drive the deals of braced food varieties, further driving the interest for useful food fixings.

Restraints

The turn of events and business parts of practical food fixings are mind boggling, costly, and unsure. Factors behind the outcome of item advancement are mechanical circumstances, buyer interest, and administrative, administrative foundation. Significant speculation is expected for the R&D of a strain to be utilized for the development of new utilitarian fixings like probiotics. Probiotic strains and items are created and delivered as per worldwide food guidelines. Likewise, exceptionally cleaned and specialized hardware and cycles are expected for the assembling and extraction of different other utilitarian fixings. Because of the significant expense of creation, the cost of the eventual outcome is additionally high. Advertising and dissemination further add to the item cost. In spite of the fact that shoppers know about the medical advantages got from these costly useful food fixings, their excessive costs confine purchasers from purchasing the item

Opportunities

The presentation of new advancements like epitome, nanoencapsulation, and bio-embodiment drives mechanical developments in the practical food fixings industry. Exemplification innovation helps in upgrading the flavor of numerous food items. For example, omega-3 unsaturated fats are related with awful smell. The taste and aroma of these fixings are upgraded with the utilization of exemplification innovation. The new headways in liposome innovation are being utilized in the assembling of a few fixings, for example, probiotics and other practical food fixings, offering various medical advantages. Consequently, this has expanded mechanical developments for specialty applications like exquisite cuisine and newborn child.

Challenges

Shoppers' information on the wellbeing impacts of explicit fixings can influence the acknowledgment of explicit useful food. The normal useful fixings like minerals, fiber, and nutrients are liked over better than ever items, for example, food sources improved with probiotics, prebiotics, flavonoids, carotenoids, and formed linolenic corrosive.The analyst needs to work inside and out to beat every one of the difficulties connected with the determination and improvement of strain and related creation processes. The essential necessity for probiotics is that items ought to contain adequate quantities of microorganisms up to the expiry date. Consequently, probiotics should contain explicit strains and keep up with specific quantities of live cells for them to deliver medical advantages in the host.

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Recent Developments

  • In September 2020, ADM shipped off Arcon T completed pea proteins, prolite Meat TEX completed wheat protein, and Prolite Meat XT non-completed wheat protein. These uncommonly viable protein courses of action would chip away at the surface and thickness of meat choices and are particularly useful for achieving client loved, meat-like surface. It would be more direct for the association to vanquish the impediment by improving tasting things with additional created surface and assortment.

Market Segmentation

By Type

  • Probiotics

  • Proteins & amino acids

  • Phytochemicals & plant extracts

  • Prebiotics

  • Fibers& specialty carbohydrates

  • Omega-3 fatty acids

  • Carotenoids

  • Vitamins

  • Minerals

By Source

  • Natural

  • Animal

  • Microbial

  • Plant

  • Synthetic

By Product 

  • Maltodextrin

  • Probiotics

  • Polydextrose

  • Modified Starch

  • Pectin

  • Omega-3 (epa, dha, ala)

  • Omega-6

  • Conjugated Linoleic Acid

  • Rice Protein

  • Protein Hydrolysate

  • Mung Bean Protein

By Health Benefits

  • Gut health

  • Cardiovascular health

  • Bone health

  • Immunity

  • Nutritive health

  • Weight management

  • Other health benefits

By Application 

  • Food

    • Infant food

    • Dairy products

    • Bakery products

    • Confectionery products

    • Snacks

    • Meat & other products

    • Other food applications (breakfast cereal and flours)

  • Beverages

    • Energy drinks

    • Juices

    • Health drinks

  • Personal Care

  • Pharmaceuticals

  • Animal Feed

  • Others

By Geography

  • North America

  • Europe

  • Asia-Pacific

  • Latin America

  • Middle East & Africa (MEA)

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