NEW YORK, Oct. 19, 2015 /PRNewswire/ -- Today, the definition of health is no longer restricted to infirmity, but it includes physical as well as mental & psychological well-being. Any food that provides nutrients and has a physiological effect on the human body is called functional food. Functional food ingredients are those that are able to provide a certain distinctive performance benefit to a particular food product. Functional food comprises some bacterial strains and products of plants and animal origin containing physiologically active compounds beneficial for human health thereby reducing the risk of chronic diseases.
The increasing incidences of chronic diseases and the increasing number of research & development and innovation activities by the key players to expand the applicability and accelerate growth are driving the market for functional food ingredients. However, the growing food safety concern is restraining the growth of the market. Continuous development in emerging markets such as Brazil, India, and China is paving new opportunities for the functional food ingredients market.
The functional food ingredients market is segmented on the basis of types into proteins & amino acids, vitamins, minerals, prebiotics, probiotics, hydrocolloids, omega 3 & 6 fatty acids, essential oils, and flavonoids & carotenoids. The market is segmented on the basis of applications into functional food and beverages. The market is segmented on the basis of health benefits such as gut health, bone health, heart health, immunity, and nutrition. The market is also segmented on the basis of regions such as North
America, Europe, Asia-Pacific, Latin America, and Rest of the World (RoW); and has been further segmented on the basis of their key countries.
Both "bottom-up" and "top-down" approaches were used to arrive at the market sizes and obtain the market forecast. Extensive secondary research was conducted to understand the market insights and trends, which was further validated through primary interviews.
The functional food ingredients market is projected to reach about $2.5 billion by 2020, growing at a CAGR of about 6%. It is projected to grow as a result of new products being launched in different applications and companies expanding their footprint in new geographic regions. The North American region dominated the functional food ingredients market in 2014.
The report provides both, qualitative and quantitative analyses of the market for functional food ingredients. It includes the market dynamics, trends, competitive strategies preferred by key market players, the driving factors that boost the growth of the functional food ingredients market, and restraints of the market. The report also studies the opportunities in the market for new entrants.
To maintain a competitive edge in the functional food ingredients market, the key players invest heavily in the launch and development of new products and in expansions. Leading players such as Koninklijke DSM N.V. (The Netherlands), E.I. du Pont de Nemours & Company (U.S.), Cargill, Incorporated (U.S.), Archer Daniels Midland Company (U.S.), and Kerry Group Plc (Ireland) have been profiled in the report. The report also provides a complete analysis of the prominent companies and a chronology of developments with respect to new products launched and their applications.
SCOPE OF THE REPORT
The research study categorizes the functional food ingredients market on the basis of type, application, health benefit, and region.
Functional Food Ingredients Market
On the basis of type, the market was sub-segmented into:
- Protein & acidulates
- Essential oil
- Omega 3 & 6 fatty acids
- Flavonoids & Carotenoids
On the basis of application, the market was sub-segmented into:
On the basis of health benefit, the market was sub-segmented into:
- Gut health
- Bone health
- Heart health
On the basis of region, the market was sub-segmented into:
- North America
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