Functional Food Ingredients Market to Grow by USD 53.14 Billion (2023-2028), Segmented by Product, Application, and Geography, with AI Impacting Market Trends - Technavio

NEW YORK, Dec. 10, 2024 /PRNewswire/ -- Report on how AI is redefining market landscape - The global functional food ingredients market size is estimated to grow by USD 53.14 billion from 2024 to 2028, according to Technavio. The market is estimated to grow at a CAGR of almost 7.38% during the forecast period. The report provides a comprehensive forecast of key segments below- 

Segmentation Overview

1. Product 
• 1.1 Probiotics and prebiotics
• 1.2 Proteins and amino acid
• 1.3 Dietary fibers
• 1.4 Vitamins and minerals
• 1.5 Others
2. Application 
• 2.1 Food and beverages
• 2.2 Pharmaceuticals
• 2.3 Others
3. Geography 
• 3.1 APAC
• 3.2 North America
• 3.3 Europe
• 3.4 Middle East and Africa
• 3.5 South America

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1.1 Fastest growing segment:

The probiotics and prebiotics segment is the largest product category in the global functional food ingredients market in 2023. Probiotics, such as Lactobacillus, Bifidobacterium, and Enterococcus, are live microorganisms found in fermented dairy products like yogurt, buttermilk, and Greek yogurt. Prebiotics are non-digestible fibers that nourish probiotic bacteria and promote their growth. The increasing consumer awareness about health benefits of probiotics is driving market growth. For instance, Wildwonder, a new prebiotic + probiotic beverage, was launched in June 2023. This light-carbonated drink, available at Sprouts and online, has five grams of prebiotic fiber, one billion live probiotic organisms, and only six grams of sugar. Probiotics also reduce the risk of diarrhea and colon cancer, while prebiotics offer benefits like calcium and magnesium absorption and improved food quality. Both have significant advantages, making the probiotics and prebiotics segment a key growth area in the functional food ingredients market.

Analyst Review

The Functional Food Ingredients Market encompasses various processing technologies like High-hydrostatic pressure, Ultrasound-assisted extraction, Microwave-assisted extraction, Pulsed electric field, and Radio-frequency drying, which are used to extract and preserve nutrients and functional compounds from natural sources. These ingredients include Carotenoids such as Beta-carotene, Lutein, and Zeaxanthin, as well as Flavonoids like Quercetin, Kaempferol, Catechins, and Anthocyanidins. Fortified foods have gained popularity due to the rising incidence of Chronic diseases and Micronutrient deficiencies. Technological conditions and Legislative regulations play a significant role in market growth. Supercritical fluids and Probiotic strains are other key components of this market. Middle class consumers and Government fortification programs are major drivers. Minerals, Fiber, Vitamins, and Conjugated linolenic acid are other essential functional food ingredients. International food regulations ensure safety and quality standards are met.

Market Overview

The Functional Food Ingredients Market encompasses various bioactive components such as Prebiotics and Probiotics, Carotenoids, Vitamins, Minerals, Fiber, and Flavonoids, among others. These ingredients cater to the growing demand for food and beverages that offer health benefits beyond basic nutrition. Chronic diseases like cardiovascular disease, obesity, Alzheimer's disease, and diabetes are driving market growth. Technological advancements in extraction methods, including high-hydrostatic pressure, ultrasound-assisted extraction, microwave-assisted extraction, pulsed electric field, radio-frequency drying, and supercritical fluids, are enhancing the production of functional food ingredients. Nutrigenomics and legislative regulations are key factors influencing market trends. Probiotic strains, antioxidants, anti-inflammatory, and fiber are popular functional ingredients. The market includes various applications such as fortified food, beverages, dietary supplements, animal feed, and pharmaceuticals. Health-conscious consumers, clean labels, and personalization are key market drivers. Functional food ingredients are used in various food categories, including energy drinks, sports drinks, yogurt, kefir, sauces, soups, gravies, frozen desserts, baked goods, and low-fat or calorie-reduced products. Functional food ingredients are also used as texturizing, binding, and thickening agents. The market is expected to grow due to the increasing prevalence of chronic diseases, micronutrient deficiencies, and the middle class's growing demand for healthier food options. Government fortification programs and international food regulations are also impacting market growth. Probiotic ingredients, plant-based proteins, and microorganisms are emerging trends in the market. The market is also influenced by the increasing popularity of e-commerce platforms and the growing demand for organic food and plant-based products. Functional food ingredients offer various health benefits, including cancer risk reduction, cognitive function improvement, and immune system support. Omega-3 supplements and vitamin D supplements are popular functional ingredients in the pharmaceutical segment. The market is expected to grow due to the increasing focus on personalization and precision medicine, as well as the genetic makeup and lifestyle factors. The animal feed industry is also a significant market for functional food ingredients due to the growing demand for animal health and productivity.

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Key Topics Covered:

 1 Executive Summary
 2 Market Landscape
 3 Market Sizing
 4 Historic Market Size
 5 Five Forces Analysis
 6 Market Segmentation
 7 Customer Landscape
 8 Geographic Landscape
 9 Drivers, Challenges, and Trends
10 Venodr Landscape
11 Vendor Analysis

11.1 Cargill
11.2 Incorporated (US)
11.3 BASF SE (Germany)
11.4 ADM (US)
11.5 International Flavors & Fragrances Inc. (US)
11.6 Arla Foods amba (Denmark)
11.7 Kerry Group plc (Ireland)
11.8 Ajinomoto Co., Inc. (Japan)
11.9 DSM (Netherlands)
11.10 Ingredion (US)
11.11 Tate & Lyle (UK)

12 Appendix

About Technavio

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SOURCE Technavio