The global functional ingredients market size is expected to reach around US$ 210.58 billion by 2030 from US$ 106.25 billion in 2021 and is expected to grow at an impressive double-digit rate of 7.9% from 2022 to 2030.
The study includes drivers and restraints of this market. The study provides an analysis of the global functional ingredients market for the period 2017-2030, wherein 2022 to 2030 is the forecast period and 2021 is considered as the base year.
The global functional ingredients market is driven by various factors such as growing penetration of internet, rising adoption of the smartphones, rising penetration of the online delivery platforms, and rising demand for the conveniences associated with the food delivery. The rising disposable income, growing urban population, favorable government regulations, ease of doing business, and improved infrastructure that favors quick deliveries are the major factors that has augmented the growth of the global functional ingredients market.
The rising preferences for the online food delivery over dine-in in restaurants have forced the restaurants to go online. The rising number of cloud kitchens across the globe owing to the surging demand for the various international cuisines among the customers has fueled the growth of the market. The proliferation of digital technologies and increased awareness regarding the various food delivery platforms among the consumers has spurred the growth of the market.
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Research Methodology
A unique research methodology has been utilized to conduct comprehensive research on the growth of the global functional ingredients market and arrive at conclusions on the future growth prospects of the market. This research methodology is a combination of primary and secondary research, which helps analysts warrant the accuracy and reliability of the draw conclusions. Secondary sources referred to by analysts during the production of the global market report include statistics from company annual reports, SEC filings, company websites, World Bank database, investor presentations, regulatory databases, government publications, and industry white papers. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, and market intelligence managers, who contributed to the production of our study on the market as a primary source.
These primary and secondary sources provided exclusive information during interviews, which serves as a validation from mattress topper industry leaders. Access to an extensive internal repository and external proprietary databases allows this report to address specific details and questions about the global functional ingredients market with accuracy. The study also uses the top-down approach to assess the numbers for each segment and the bottom-up approach to counter-validate them. This has helped to estimates the future prospects of the global market more reliable and accurate.
Why should you invest in this report?
If you are aiming to enter the global functional ingredients market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for functional ingredients are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2022-2030, so that you can plan your strategies to enter this market accordingly.
Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.
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 |
Report Highlights
- Based on the type, the vitamin segment dominated the market, garnering a market share of around 23% in 2020. This is attributed to the rapid increase in awareness regarding the benefits of vitamin and problems associated with its deficiency among the consumers. Moreover, the rising adoption of functional food rich in vitamin E especially in the developing regions has significantly driven the growth of this segment.
- Based on the source, the natural segment is estimated to be the most opportunistic segment during the forecast period. This is attributed to the higher profitability, ease of operations, and growing
Market Dynamics
Drivers
Increase in consumption of nutritive convenience and functional food
The global demand for functional food is expanding at a robust pace. Functional food ingredients like minerals, amino acids, vitamins, antioxidants, prebiotics, plant extracts, hydrocolloids, and carotenoids are the pivotal ingredients of functional food. The health-conscious population is swiftly expanding in a rising market, which will drive the demand for the food fortification. In addition, the differences of nutritional consumption across regions contribute greatly to the seeming differences in the populations’ health across the countries. Multiple factors such as growth of the middle class in arising husbandry, adding cases of habitual conditions and micronutrient scarcities, new government fortification programs, growing interest in health and heartiness, and growth of the world’s aged population in regions similar as Europe, owing to COVID-19, is anticipated to drive the market of functional foods, which will further drive the demand for functional ingredients market in the process.
Restraints
Higher cost for functional food products due to the addition of healthier or naturally sourced ingredients
The development and commerce aspects of functional food Ingredients are precious, complex, and uncertain. Factors behind the success of product development are consumer demand, technological conditions, and legislative, nonsupervisory background. Substantial investment is needed for the R&D of a strain to be used for the product of new functional Ingredients similar as probiotics. Probiotic strains and products are developed and produced in agreement with transnational food regulations. In addition, largely specialized and castrated outfit and processes are needed for the birth and manufacturing of colorful other functional constituents. As a result of the high cost of product, the price of the final product is also rises. Distribution and marketing further add to the product price. Although consumers are aware of the health benefits deduced from these precious functional food ingredients, their high prices restrict consumers from buying the product.
Opportunities
Relinquishment of new technologies in the functional food assiduity
The preface of new technologies similar as nanoencapsulation, encapsulation, andbio-encapsulation drives technological inventions in the functional Ingredients industry. Encapsulation technology aids in improving the taste of numerous products. For instance, omega-3 adipose acids are associated with bad odor. The taste and scent of these Ingredients are enhanced with the usage of encapsulation technology. The current advancements in liposome technology are being used in the manufacturing of several ingredients similar as probiotics and other functional food ingredients, offering multitudinous health benefits. Therefore, this has increased technological inventions for niche operations similar as gourmet food and infant.
Challenges
Complications related to the integration and contamination of functional food products
The knowledge of the consumers’ towards the health effects of goods of certain Ingredients can disturb the specific functional food acceptance. The functional Ingredients which are common such as fiber, minerals, and vitamins are preferred over advanced and new products such as foods amended with prebiotics, probiotics, carotenoids, flavonoids, and conjugated linolenic acid. The researchers have to work in- depth to overcome all the challenges related to the selection and development of strain and affiliated product processes. The basic demand for probiotics is that products should contain sufficient figures of microorganisms up to the expiry date.
Some of the prominent players in the global functional ingredients market include:
- 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
Market Segmentation:
By Type
- Probiotics & Prebiotics
- Proteins
- Botanical Extracts
- Vitamin
- Minerals
- Fatty Acids
- Others
By Nature
- Synthetic
- Natral
By Application
- Food & Beverages
- Personal Care
- Pharmaceuticals
- Animal Feed
- Others
Regional Analysis:
The geographical analysis of the global functional ingredients market has been done for North America, Europe, Asia-Pacific, and the Rest of the World.
The North American Market is again segmented into the US, Canada, and Mexico. Coming to the European Market, it can be segmented further into the UK, Germany, France, Italy, Spain, and the rest. Coming to the Asia-Pacific, the global functional ingredients Market is segmented into China, India, Japan, and Rest of Asia Pacific. Among others, the market is segmented into the Middle East and Africa, (GCC, North Africa, South Africa and Rest of the Middle East & Africa).
Key Questions Answered by the Report:
- What will be the size of the global functional ingredients market in 2030?
- What is the expected CAGR for the functional ingredients market between 2021 and 2030?
- Which are the top players active in this global market?
- What are the key drivers of this global market?
- How will the market situation change in the coming years?
- Which region held the highest market share in this global market?
- What are the common business tactics adopted by players?
- What is the growth outlook of the global functional ingredients market?
TABLE OF CONTENT
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
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