Global Functional Food Ingredients Market is valued approximately USD 177.7 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 6.7% over the forecast period 2020-2027. Functional food can be defined as a transformed food that claims to improve health. It does not prevent illnesses, but it aims to reduce the risk of dangerous diseases by supplying vital nutrients and proteins to improve the health of the body. Functional nutritional food adds advantages to human physiological needs. Further, growing appetite for nutritious drinks across the globe is expected to build opportunities for players in the global market for practical food ingredients. Rising health-conscious customers have raised the market for nutritious bars and drinks, increasing the sales of functional food ingredients. For instance: as per Statista Health food and beverage sales of the "organic" category reached 105 billion U.S. dollars. Furthermore, Consumer intake of protein-rich foods is on the rise. Around the same time, health-conscious customers have decreased their intake of items that are rich in carbohydrates and sweeteners and food with a high fat content. Also, as per Statista organic food category held a share of about five percent of the global health and wellness market in 2017. As a result, high fiber and high protein food intake have risen, raising the need for functional food ingredients from the food industry. However, the higher cost for functional food product impedes the growth of the market over the forecast period of 2020-2027. Also, consumers are deeply interested in understanding more about functional food items would create a lucrative opportunity for Global Functional Food Ingredients Market
The regional analysis of global Functional Food Ingredients market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia-Pacific is the leading/significant region across the world in terms of market share owing to the urbanization, growing expenditure on health goods and knowledge of the medicinal benefits of functional food are projected to boost functional food market growth in Asia-Pacific. Whereas, North America is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as change in lifestyle and drastic changes in the food preference would create lucrative growth prospects for the Functional Food Ingredients market across the region.
Major market player included in this report are:
Danone, Glanbia PLC
Hearthside Food Solutions LLC
Meiji Co., Ltd.
Royal frieslandcampina N.V.
Sanitarium Health Food Company
The Kraft Heinz Company.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
Proteins & Amino Acids
Prebiotics & Dietary Fibers
Bakery & Cereals
Meat, Fish & Eggs
Fats & Oils
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Functional Food Ingredients Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers