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Functional Food Ingredients Market by Type, Application, Source And Region - Global Forecast to 2023

Functional Food Ingredients Market: Global Forecast until 2023

  • July 2018
  • 176 pages
  • ID: 3087082
In this report:
THE FUNCTIONAL FOOD INGREDIENTS MARKET IS ESTIMATED AT ABOUT USD ##.## BILLION IN 2018 AND IS EXPECTED TO GROW AT A CAGR OF ##.##%.
ACCORDING TO A SURVEY CONDUCTED BY THE INTERNATIONAL FOOD INFORMATION COUNCIL (IFIC), IN 2009, ##% AND IN 2011, ##% OF THE CONSUMERS IN THE US AGREED THAT CERTAIN FOODS HAVE HEALTH BENEFITS BEYOND BASIC NUTRITION.

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The functional food ingredients market is estimated to rise at a compound annual growth rate of 6.60 percent.

The functional food ingredients market is projected to be valued at ~$68.6B in 2018 and is projected to extend ~$94.2B by 2023, at a compound annual growth rate (CAGR) of 6.60 percent. Functional food ingredients play an important role in demonstrating specific physiological benefits, apart from the main nutritional benefits that are derived from food & beverages. The use of functional food ingredients in the manufacturing of functional food & beverage products is anticipated to provide nutritive health benefits, prevent/resist chronic diseases, or act as energy boosters. Functional food ingredients are used to enhance certain physiological functions including improve gastrointestinal health, reduce cholesterol levels, prevent dental caries, and improve bone & gut health to prevent or cure several diseases. Regular consumption of functional food ingredients reduces the risk of different chronic diseases including cardiovascular diseases, cancer, diabetes, high blood pressure, rickets, and osteoporosis. The increase in the functional food ingredients market is assigned to the increasing health awareness among consumers, leading to an growth in the adoption of healthier diets. Food safety concerns and adherence to stringent international quality standards & regulations restrain the increase of the functional food ingredients market.

Prebiotics expected to be the quickest-growing segment, by category, for functional food ingredients from 2018 to 2023.

The prebiotics segment is expected to rise at the highest CAGR (Compound annual growth rate) during the outlook period.Prebiotic ingredients improve the activity of good bacteria that are already present in the human or animal intestine.

There are different prebiotic food products that claim to help manage weight, sharpen mental faculties, and improve infant health.

The food segment is forecasted to be faster-growing for functional food ingredients from 2018 to 2023.

The functional food ingredients market, by application, is forecasted to be dominated by the food segment in 2018.It is also forecasted to be faster-growing through 2023.

On a overall level, the sector for functional food is growing as consumers prefer balanced diets and food that not only takes care of their appetite but also helps enhance their immunity.This, together with product innovations in terms of flavors and variant offerings, presents significant opportunities for the rise of applications in the functional food ingredients market.

Factors that are further fueling consumer interest in functional foods are the quick advances in science & technology, growth in health care costs, aging, and increase in interest in attaining wellness through diet.

North America (NA) is set to lead the functional food ingredients market with the biggest share in 2018.

The North America (NA) sector is expected to be the biggest in 2018.The industry in the territory is influenced by rising potential for the consumption of functional food ingredients and is anticipated to play an important role in the overall market.

This dominance is influenced by the prevalence of chronic diseases due to hectic lifestyles and growing awareness among consumers concerning the health benefits of functional foods.The functional food ingredient manufacturers focus on investing more in research programs with an aim to introduce new ingredients to address the diversified demands of potential customers in the area.

The South American market is expected to grow at the highest compound annual growth rate (CAGR) from 2018 to 2023. The rise in demand for health & wellness products and rise in income levels in emerging countries, including Brazil and Argentina (AR), are the top factors that drive the functional food ingredients market increase in the territory.

The breakdown of the primaries on the basis of company type, description, and area, conducted during the business research study, is like:

• By Company category: Tier 1: 23.0 percent, Tier 2: 30.0 percent, and Tier 3: 47.0 percent

• By Description: C-suite: 24.0 percent, D-level: 36.0 percent, and Others: 40.0 percent

• By Area: North America continent: 20.0 percent, Europe (EU): 30.0 percent, Asia Pacific (APAC): 45.0 percent, and RoW: 5.0 percent

• Kemin Sectors

• Roquette Frères

The top players in the functional food ingredients market approved development & market investments as their top increase strategy to expand and develop new innovative products to capture the market share and make profits. Recent product launches are the second-most important increase strategy to be adopted by market actors.

Segment Research

The analysis examines the functional food ingredients market across various class and territories.It aims at evaluating the size and upcoming growth potential of this market across distinct segments including type, application, source, and area.

The market research also comprises a detailed competitive analysis of the top players in the sector, together with their company descriptions, recent evolutions, and key industries strategies.

Reasons to Buy This Report

• To get a comprehensive overview of the overall functional food ingredients market

• To benefit wide-ranging information about the top actors in this market, their products review, and top strategies approved by them

• To benefit insights of the main countries/localities in which the functional food ingredients market is prospering

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