Global Functional Food Ingredients Market To Reach $175.25 Billion By 2028 With A Growth Rate Of 9.9%

The Business Research Company's Global Functional Food Ingredients Market To Reach $175.25 Billion By 2028 With A Growth Rate Of 9.9%

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The functional food ingredients market has experienced significant growth recently, expanding from $110.61 billion in 2023 to an anticipated $120.27 billion in 2024, with a compound annual growth rate (CAGR) of 8.7%. This growth in previous years is largely due to rising health awareness, a higher prevalence of lifestyle-related illnesses, increased consumer preference for natural and clean-label products, advancements in nutraceutical research, and partnerships between the food and pharmaceutical sectors.

Global Functional Food Ingredients Market Size: What Are the Forecasts for Market Growth and Annual Expansion?
The functional food ingredients market is projected to experience robust growth over the coming years, reaching $175.25 billion by 2028 with a compound annual growth rate (CAGR) of 9.9%. This anticipated growth is driven by a focus on personalized nutrition and product customization, the incorporation of functional ingredients into everyday foods, emphasis on mental and cognitive health, the growing senior demographic, and rising e-commerce and direct-to-consumer trends.

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What Are The Key Growth Drivers In The Functional Food Ingredients Market?
The increasing demand for fortified food and beverage products is anticipated to drive growth in the functional food ingredients market. Fortified foods, which have added nutrients to compensate for naturally lacking ones, enhance nutrition and provide health benefits. As consumers become more health-conscious, experience higher rates of disease, and have greater disposable income, their consumption of fortified foods and beverages is on the rise. Additionally, the health-promoting properties of these foods, which offer healing benefits beyond basic energy and essential nutrients, encourage consumers to invest in healthier food options.

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Who are the Key Industry Players Stepping Up in the Functional Food Ingredients Market?
Key players in the functional food ingredients market include Cargill Incorporated, Nestle, Archer Daniels Midland Company, BASF SE, Arla Foods amba, Koninklijke DSM NV, Ajinomoto, Kerry Group, Ingredion Incorporated, Glanbia plc, DuPont Nutrition & Biosciences, FMC Corporation, Roquette Frères, Royal Cosun, Ashland, Tate & Lyle PLC, Corbion N.V., Brevel, Chr. Hansen Holding A/S, Kemin Industries Inc., Ginkgo BioWorks, Naturex, Beneo, Fuerest Day Lawson, The Every Company, Nuritas, Foodchem International Corporation, Global Specialty Ingredients (GSI), A&B Ingredients, Shiru Inc., Native Pet, Sophie's Bionutrients Pte. Ltd., Clean Food Group, Paragon Pure, Canomiks

What Trends Are Shaping The Growth Of The Functional Food Ingredients Market Size?
Leading companies in the functional food ingredients market are concentrating on developing innovative products, including dietary supplements, to maintain their competitive edge. These supplements are designed to enhance the diet by providing extra nutrients that may be lacking or insufficient in everyday food consumption.

What Are the Different Segments of the Global Functional Food Ingredients Market?
1) By Type: Probiotics And Prebiotics, Carotenoids, Dietary Fibers, Fatty Acids, Vitamins, Minerals, Others
2) By Source: Natural Synthetic
3) By Application: Beverages, Dairy Products, Infant Food, Bakery And Confectionery, Others

Geographical Insights: North America Leading The Functional Food Ingredients Market
North America was the largest region in the functional food ingredients market in 2023. Europe was the second-largest market in the functional food ingredients market. The regions covered in the functional food ingredients market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

What Is The Definition Of The Functional Food Ingredients Market?
Functional food ingredients are bioactive compounds used in the production of functional food products. These ingredients offer health benefits, often including supplements or other beneficial additives.

The Functional Food Ingredients Global Market Report 2024 from The Business Research Company includes the following key information:
• Market size data for both historical and future periods
• Analysis of both macro and microeconomic factors that have impacted the market over the past five years
• Regional market analysis covering Asia-Pacific, China, Western Europe, Eastern Europe, North America, the USA, South America, and the Middle East and Africa
• Country-specific market analysis for Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.

Overview of the Global Functional Food Ingredients Market Report: Trends, Opportunities, Strategies, and More
The Functional Food Ingredients Global Market Report 2024 from The Business Research Company is an extensive resource that delivers insights into functional food ingredients market size, functional food ingredients market drivers and trends, functional food ingredients competitors' revenues, and functional food ingredients market growth across geographies. This report provides valuable in-depth insights into potential opportunities and strategies. Companies can utilize the information presented to target segments with the greatest growth potential.

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Oliver Guirdham
The Business Research Company
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