ALBANY, N.Y., Jan. 21, 2021 /PRNewswire/ -- The growing consumption of nutritive convenience food is adding extra stars of growth to the functional food ingredients market. A large chunk of the global populace is inclined toward healthier diet consumption. This aspect will further bring immense growth prospects for the functional food ingredients market between 2019 and 2029.
Functional food is a type of food that has a specific set of added nutrients such as fiber, probiotics, prebiotics, minerals, and others. These food types help in covering nutritional deficiencies. Functional foods are also useful in decreasing the risk of chronic diseases. All these factors bode well for the growth of the functional food ingredients market.
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Transparency Market Research (TMR) has a team of skilled and experienced researchers who conduct a scrutinized study on all the aspects related to the growth of the functional food ingredients market. According to their analysis, the global functional food ingredients market is prognosticated to record a CAGR of ~7 percent through the forecast period of 2019-2029.
Growing health concerns due to a rapidly changing lifestyle, especially in urban areas are increasing the popularity of functional foods to a great extent. In addition, the COVID-19 pandemic is accelerating the growth of the functional food ingredients market as many people prefer them for increasing their immunity. Thus, all these factors bring enormous growth opportunities for the functional food ingredients market.
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Functional Food Ingredients Market: Transparency Expert Diagnosis
The expert analysts at Transparency Market Research (TMR) advise the players in the functional food ingredients market to focus on the changing food preferences of the global populace. Furthermore, the analysts suggest the manufacturers to develop advanced technologies related to probiotic dietary supplements.
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Key Findings of the Report
Convenience Foods Accelerating Growth of Functional Food Ingredients Market
The lifestyle changes among a considerable populace due to a busy routine and rapid urbanization are increasing the popularity of on-the-go foods. These food and beverage products are boosting the growth of the functional food ingredients market. The players in the functional food ingredients market are adding special nutrients such as dietary fibers, vitamins, minerals, and prebiotics to address the functional purposes of consumers.
Special Focus on Attracting Lactose-Intolerant Consumer Base
The players in the functional food ingredients market are researching and developing plant-based food products using cocoa butter, sunflower seeds, pea protein, and others for lactose-intolerant people. In addition, the inclination of a large populace toward adopting a vegan lifestyle will further enhance the growth prospects of the functional food ingredients market exponentially. The rising awareness about GMO-free and gluten-free food products will serve as growth pillars for the functional food ingredients market.
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Functional Food Ingredients Market: Growth Propellers
- Ongoing research and development activities involving new formulations will serve as a prominent growth factor for the functional food ingredients market
- The growing geriatric population and their desire to have a longer life expectancy is sowing the seeds of growth across the functional food ingredients market
- Rising disposable income and the escalating awareness about certain nutrients among a substantial populace are some vital factors increasing the growth rate of the functional food ingredients market
- The heightening demand for healthy beverages around the world is further creating immense growth opportunities for the functional food ingredients market
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