The global functional food ingredients Market is expected to grow at a CAGR of 6.5% during the forecast period and was valued at US$ 6,534.2 Mn in 2018. Functional food ingredients refer to the ingredients that have the capability to add several advantages to the end product. Functional food ingredients are such ingredients that are consumed as a part of a standard diet and they have biologically active constituents and provide enhanced health benefits.
Increasing consumer awareness regarding proper health and fitness, coupled with the rising number of fitness centers and gym goers, is driving the demand for functional food ingredients. In addition to this, an increasing demand for fortified foods that are safe, enjoyable, and healthy is also resulting in the rise in the demand for functional food ingredients.
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Key findings/Recent News:
The global functional food ingredient market is witnessing rapid growth owing to the increasing consumer awareness regarding health and wellness, which is strengthening the demand for functional food ingredients. In addition to this, rising awareness about chronic diseases such as diabetes and blood pressure, among others, is also raising the demand for functional food ingredients.
The rising demand for fortified foods that are safe, enjoyable, and healthy is also resulting in an increase in demand for functional food ingredients. Product innovation and new product launches by different companies are expected to stimulate the market growth during the forecast period.
CPs & CI (150 words)
The major players operating in the global functional food ingredients market are Archer Daniels Midland Company, Cargill Incorporated, BASF SE, E.I. DuPont de Nemours and Company, Koninklijke DSM N.V., Ingredion Incorporated, Tate & Lyle, Associated British Foods, New Asia Ingredients Pvt Ltd. among others.
The players operating in the market are focusing on new product development, product launch, and strategies such as mergers and acquisitions, in order to grab a greater customer attention. Companies such as Ingredion Inc. is a global provider of ingredient solutions to diversified industries, in order to accelerate the production of plant-based protein globally. The company invested US$ 140 million in 2018 to accelerate the growth in plant-based proteins which will improve the product portfolio, thus supporting the increasing demand.
Key Questions answered
• What is the market value of the overall functional food ingredients and segments?
• What are the key segments and sub-segments in the market?
• Which is the largest sub-segment in each segment in the scope of the study?
• What are the key drivers, restraints, opportunities, and challenges in the market and how are they expected to impact the market?
• What are the attractive segments and geographies to invest in?
• What is the market value at the regional and the country level?
• Who are the key market players and their key competitors?
• What are the strategies for growth adopted by the key players in the market?