Functional Ingredients Market Size, Share & Analysis Report, 2022-2030
The global functional ingredients market size was valued at US$ 106.25 billion in 2021 and is expected to hit US$ 210.58 billion by 2030, poised to grow at a CAGR of 7.9% during the forecast period 2022 to 2030.
Growth Factors:
The market growth is attributed to factors including growing demand for clean label products, shifting regulations in the food and beverage market, and rising awareness among consumers.
Increasing health concerns and growing health issues like obesity, diabetes, and digestive disorders are the significant factors projected to boost the industry growth in the coming years. New investments and introduction of innovative products by substantial producers have resulted in considerable demand for functional ingredients in the food and beverage industry.
The U.S. probiotics industry is characterized by the presence of demographic-specific probiotics, such as for genders and geriatrics. These niche markets have provided regional players the chance to adopt distinguished strategies to develop their product portfolio and maximize their resources. Excessive demand for probiotics-based food and beverage products is projected to drive the U.S. market over the next few years.
Functional ingredients are those ingredients that have disease-preventing, energy-boosting, and health-promoting advantages. The elements that will be added to the end product are expected to be an extract from a natural source of the active ingredient.
Health awareness among customers across several regions is progressively increasing, thereby enhancing the demand for nutritional foods and beverages. Furthermore, consumers are shifting toward fortified convenience wholesome foods and drinks that are rich in nutritional content. Growing income levels, coupled with increasing number of urban residents, are propelling the demand.
Report Scope of the Functional Ingredients Market
|
Report Coverage |
Details |
|
Market Size by 2030 |
USD 210.58 Billion |
|
Growth Rate from 2022 to 2030 |
CAGR of 7.9% |
|
Largest Market |
North America |
|
Fastest Growing Market |
Asia Pacific |
|
Base Year |
2021 |
|
Forecast Period |
2022 to 2030 |
|
Segments Covered |
Type, Application, Nature, Geography |
|
Companies Mentioned |
Danone, Glanbia plc, Hearthside food solutions llc, Mars, incorporated, Meiji co., ltd, Nestlé s.a, Raisio plc, Royal frieslandcampinan.v, Sanitarium health food company, The kraftheinz company |
Type Insights
Based on the type, the vitamins segment was the dominating segment. This is majorly credited to benefits associated with functional food rich in vitamin such as healthy skin, improved vision, improved blood circulation and better immune system of the body. Furthermore, some consumers require vitamin supplements as they have certain medical conditions which can lead to insufficiencies and functional food provides essential nutrients and vitamins in order to fulfill that particular deficiencies. Casual food or regular meal is not that much efficient enough to provide essential vitamin which led consumer to consume functional food as an additional food to have a healthy body.
On the other hand, the probiotics & prebiotics segment is estimated to be the most opportunistic segment during the forecast period. This is attributed owing to the growing popularity of probiotics among the population which is fuelled by the rising health awareness among the consumers
Source Insights
On the basis of source, the natural segment is the dominating functional ingredient segment in the year 2020 owing the abundant sources of ingredients. Nutritional and epidemiological studies have shown that plants are a rich source of nutraceutical ingredients by having disease-preventing and health-promoting properties. Various plant-based foods arebioactive compound rich in nature with physiological effects, like antioxidant, antimutagenic, anti-inflammatory or antibacterial activities. However, synthetic functional ingredient is the fastest growing segment in the market owing to the myriad demand of the ingredients and inadequate availability fosters huge opportunities to for the synthetic ingredients in the market.
Region Insights
North America dominated the market and accounted for 34% share of global volume in 2021. Increasing health concerns and growing health issues, such as obesity, digestive disorders, and diabetes, are significant factors expected to propel the demand for the product in countries, such as U.S., Canada, and Mexico.
Products targeting health and mental well-being have prompted the food industry to increase new food R&D initiatives. Despite the uncertainties of existing regulations, it outlines the context of a rapidly expanding market in major countries, like the U.S. and Mexico. The industry is also expected to grow on account of the changes in food regulations, growing self-care movement, and overwhelming scientific evidence, highlighting the critical link between diet and health.
Asia Pacific is projected to witness the fastest growth in the market over the forecast period. Strong government policies in the agricultural trade to support functional foods and attract market investments have created a broad scope for development in the region. Countries like China, India, South Korea, Taiwan, and Japan rely on agriculture to some extent because the sector is a considerable contributor to their GDPs.
Asia Pacific has one of the largest functional ingredient markets due to the burgeoning population and rising disposable income among consumers. Rapidly growing consumption of processed food, along with increasing awareness regarding health and fitness in developing economies, is a significant factor boosting the functional food market growth in the region.
Some of the prominent players in the Functional Ingredients Market include:
Segments Covered in the Report
This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for the period of 2017 to 2030 and covers subsequent region in its scope:
By Type
By Nature
By Application
By Geography
North America
Europe
Asia Pacific
Latin America
Middle East & Africa (MEA)
Key Points Covered in Functional Ingredients Market Study:
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Functional Ingredients Market
5.1. COVID-19 Landscape: Functional Ingredients Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Functional Ingredients Market, By Type
8.1. Functional Ingredients Market, by Type, 2022-2030
8.1.1. Probiotics & Prebiotics
8.1.1.1. Market Revenue and Forecast (2019-2030)
8.1.2. Proteins
8.1.2.1. Market Revenue and Forecast (2019-2030)
8.1.3. Botanical Extracts
8.1.3.1. Market Revenue and Forecast (2019-2030)
8.1.4. Vitamin
8.1.4.1. Market Revenue and Forecast (2019-2030)
8.1.5. Minerals
8.1.5.1. Market Revenue and Forecast (2019-2030)
8.1.6. Fatty Acids
8.1.6.1. Market Revenue and Forecast (2019-2030)
8.1.7. Others
8.1.7.1. Market Revenue and Forecast (2019-2030)
Chapter 9. Global Functional Ingredients Market, By Application
9.1. Functional Ingredients Market, by Application, 2022-2030
9.1.1. Food & Beverages
9.1.1.1. Market Revenue and Forecast (2019-2030)
9.1.2. Personal Care
9.1.2.1. Market Revenue and Forecast (2019-2030)
9.1.3. Pharmaceuticals
9.1.3.1. Market Revenue and Forecast (2019-2030)
9.1.4. Animal Feed
9.1.4.1. Market Revenue and Forecast (2019-2030)
9.1.5. Others
9.1.5.1. Market Revenue and Forecast (2019-2030)
Chapter 10. Global Functional Ingredients Market, By Nature
10.1. Functional Ingredients Market, by Nature, 2022-2030
10.1.1. Synthetic
10.1.1.1. Market Revenue and Forecast (2019-2030)
10.1.2. Natral
10.1.2.1. Market Revenue and Forecast (2019-2030)
Chapter 11. Global Functional Ingredients Market, Regional Estimates and Trend Forecast
11.1. North America
11.1.1. Market Revenue and Forecast, by Type (2019-2030)
11.1.2. Market Revenue and Forecast, by Application (2019-2030)
11.1.3. Market Revenue and Forecast, by Nature (2019-2030)
11.1.4. U.S.
11.1.4.1. Market Revenue and Forecast, by Type (2019-2030)
11.1.4.2. Market Revenue and Forecast, by Application (2019-2030)
11.1.4.3. Market Revenue and Forecast, by Nature (2019-2030)
11.1.5. Rest of North America
11.1.5.1. Market Revenue and Forecast, by Type (2019-2030)
11.1.5.2. Market Revenue and Forecast, by Application (2019-2030)
11.1.5.3. Market Revenue and Forecast, by Nature (2019-2030)
11.2. Europe
11.2.1. Market Revenue and Forecast, by Type (2019-2030)
11.2.2. Market Revenue and Forecast, by Application (2019-2030)
11.2.3. Market Revenue and Forecast, by Nature (2019-2030)
11.2.4. UK
11.2.4.1. Market Revenue and Forecast, by Type (2019-2030)
11.2.4.2. Market Revenue and Forecast, by Application (2019-2030)
11.2.4.3. Market Revenue and Forecast, by Nature (2019-2030)
11.2.5. Germany
11.2.5.1. Market Revenue and Forecast, by Type (2019-2030)
11.2.5.2. Market Revenue and Forecast, by Application (2019-2030)
11.2.5.3. Market Revenue and Forecast, by Nature (2019-2030)
11.2.6. France
11.2.6.1. Market Revenue and Forecast, by Type (2019-2030)
11.2.6.2. Market Revenue and Forecast, by Application (2019-2030)
11.2.6.3. Market Revenue and Forecast, by Nature (2019-2030)
11.2.7. Rest of Europe
11.2.7.1. Market Revenue and Forecast, by Type (2019-2030)
11.2.7.2. Market Revenue and Forecast, by Application (2019-2030)
11.2.7.3. Market Revenue and Forecast, by Nature (2019-2030)
11.3. APAC
11.3.1. Market Revenue and Forecast, by Type (2019-2030)
11.3.2. Market Revenue and Forecast, by Application (2019-2030)
11.3.3. Market Revenue and Forecast, by Nature (2019-2030)
11.3.4. India
11.3.4.1. Market Revenue and Forecast, by Type (2019-2030)
11.3.4.2. Market Revenue and Forecast, by Application (2019-2030)
11.3.4.3. Market Revenue and Forecast, by Nature (2019-2030)
11.3.5. China
11.3.5.1. Market Revenue and Forecast, by Type (2019-2030)
11.3.5.2. Market Revenue and Forecast, by Application (2019-2030)
11.3.5.3. Market Revenue and Forecast, by Nature (2019-2030)
11.3.6. Japan
11.3.6.1. Market Revenue and Forecast, by Type (2019-2030)
11.3.6.2. Market Revenue and Forecast, by Application (2019-2030)
11.3.6.3. Market Revenue and Forecast, by Nature (2019-2030)
11.3.7. Rest of APAC
11.3.7.1. Market Revenue and Forecast, by Type (2019-2030)
11.3.7.2. Market Revenue and Forecast, by Application (2019-2030)
11.3.7.3. Market Revenue and Forecast, by Nature (2019-2030)
11.4. MEA
11.4.1. Market Revenue and Forecast, by Type (2019-2030)
11.4.2. Market Revenue and Forecast, by Application (2019-2030)
11.4.3. Market Revenue and Forecast, by Nature (2019-2030)
11.4.4. GCC
11.4.4.1. Market Revenue and Forecast, by Type (2019-2030)
11.4.4.2. Market Revenue and Forecast, by Application (2019-2030)
11.4.4.3. Market Revenue and Forecast, by Nature (2019-2030)
11.4.5. North Africa
11.4.5.1. Market Revenue and Forecast, by Type (2019-2030)
11.4.5.2. Market Revenue and Forecast, by Application (2019-2030)
11.4.5.3. Market Revenue and Forecast, by Nature (2019-2030)
11.4.6. South Africa
11.4.6.1. Market Revenue and Forecast, by Type (2019-2030)
11.4.6.2. Market Revenue and Forecast, by Application (2019-2030)
11.4.6.3. Market Revenue and Forecast, by Nature (2019-2030)
11.4.7. Rest of MEA
11.4.7.1. Market Revenue and Forecast, by Type (2019-2030)
11.4.7.2. Market Revenue and Forecast, by Application (2019-2030)
11.4.7.3. Market Revenue and Forecast, by Nature (2019-2030)
11.5. Latin America
11.5.1. Market Revenue and Forecast, by Type (2019-2030)
11.5.2. Market Revenue and Forecast, by Application (2019-2030)
11.5.3. Market Revenue and Forecast, by Nature (2019-2030)
11.5.4. Brazil
11.5.4.1. Market Revenue and Forecast, by Type (2019-2030)
11.5.4.2. Market Revenue and Forecast, by Application (2019-2030)
11.5.4.3. Market Revenue and Forecast, by Nature (2019-2030)
11.5.5. Rest of LATAM
11.5.5.1. Market Revenue and Forecast, by Type (2019-2030)
11.5.5.2. Market Revenue and Forecast, by Application (2019-2030)
11.5.5.3. Market Revenue and Forecast, by Nature (2019-2030)
Chapter 12. Company Profiles
12.1. Danone
12.1.1. Company Overview
12.1.2. Product Offerings
12.1.3. Financial Performance
12.1.4. Recent Initiatives
12.2. Glanbia plc
12.2.1. Company Overview
12.2.2. Product Offerings
12.2.3. Financial Performance
12.2.4. Recent Initiatives
12.3. Hearthside food solutions llc
12.3.1. Company Overview
12.3.2. Product Offerings
12.3.3. Financial Performance
12.3.4. Recent Initiatives
12.4. Mars, incorporated
12.4.1. Company Overview
12.4.2. Product Offerings
12.4.3. Financial Performance
12.4.4. Recent Initiatives
12.5. Meiji co., ltd
12.5.1. Company Overview
12.5.2. Product Offerings
12.5.3. Financial Performance
12.5.4. Recent Initiatives
12.6. Nestlé s.a
12.6.1. Company Overview
12.6.2. Product Offerings
12.6.3. Financial Performance
12.6.4. Recent Initiatives
12.7. Raisio plc
12.7.1. Company Overview
12.7.2. Product Offerings
12.7.3. Financial Performance
12.7.4. Recent Initiatives
12.8. Royal frieslandcampinan.v
12.8.1. Company Overview
12.8.2. Product Offerings
12.8.3. Financial Performance
12.8.4. Recent Initiatives
12.9. Sanitarium health food company
12.9.1. Company Overview
12.9.2. Product Offerings
12.9.3. Financial Performance
12.9.4. Recent Initiatives
12.10. The kraftheinz company
12.10.1. Company Overview
12.10.2. Product Offerings
12.10.3. Financial Performance
12.10.4. Recent Initiatives
Chapter 13. Research Methodology
13.1. Primary Research
13.2. Secondary Research
13.3. Assumptions
Chapter 14. Appendix
14.1. About Us
14.2. Glossary of Terms
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers