Northbrook, IL 60062 -- (SBWire) -- 11/22/2023 --The functional food ingredients market, estimated at USD 98.9 billion in 2021, is poised for a 6.8% CAGR growth, reaching USD 137.1 billion by 2026. This growth is attributed to the rising preference for nutritional and convenient foods, coupled with increased demand for fortified food and beverage products. Despite these positive trends, challenges such as the need to comply with international quality standards and limited awareness of functional ingredients, like prebiotics and probiotics in developing countries, hinder market growth.
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The awareness of health benefits associated with carotenoids, including beta-carotene, lutein, and zeaxanthin, is driving an increased demand for these protective nutrients. Carotenoids, naturally occurring pigments found in plants, algae, and photosynthetic bacteria, play a crucial role in human health. Similarly, flavonoids such as quercetin, kaempferol, catechins, and anthocyanidins, known for their antioxidant and anti-inflammatory properties, contribute to the strengthening of cardiovascular and nervous systems.
The market for carotenoids is expanding, given their use as safe, natural colorants in food, feed, and cosmetics. They are essential for plant growth, contribute to photosynthesis, and serve as a primary dietary source of vitamin A for humans, reducing the risk of chronic health disorders.
Functional Food Ingredients Market by Source Insights:
The plant source segment is projected to be the fastest-growing, driven by the increasing consumption of plant-based proteins, prebiotics, omega-3 fatty acids, minerals, fibers, phytochemicals, and plant extracts. Plant-based proteins, in particular, are gaining popularity due to their nutritional profile, low carbon footprint, and affordability.
Functional Food Ingredients Market by Application Insights:
Within the beverages application, the energy drinks segment is expected to witness the highest CAGR. Functional ingredients like vitamins, minerals, and proteins are incorporated into energy drinks to offer specific health benefits, such as heart health promotion, immunity improvement, and energy boost.
Functional Food Ingredients Market by Region:
North America is anticipated to hold the largest market share, fueled by the prevalence of chronic diseases, hectic lifestyles, and growing consumer awareness of health benefits associated with functional foods. Key players in the region, including Cargill, Archer Daniels Midland Company, and DuPont, are investing in research programs to introduce innovative ingredients that cater to diverse consumer demands.
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Top Companies in Functional Food Ingredients Industry:
Key industry players include Cargill, BASF SE, Archer Daniels Midland Company, DuPont, Arla Foods, Kerry Group, Ajinomoto Co., Koninklijke DSM N.V., Ingredion Incorporated, and Tate & Lyle PLC. Other notable players contributing to the market's growth include Chr. Hansen Holding A/S, Kemin Industries, BENEO, Royal Cosun, Roquette Frères, Soylent, A&B Ingredients, Golden Grain Group Limited, Sugarlogix, and Stratum Nutrition.
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Functional Food Ingredients Market Insights and Projections by 2026
Functional Food Ingredients Market by Type (Probiotics, Prebiotics, Proteins & Amino Acids, Phytochemicals & Plant Extracts, Omega-3 Fatty Acids, Carotenoids, and Fibers & Specialty Carbohydrates), Source, Application, and Region - Global Forecast to 2026