Functional Food Ingredients Market to Close in on US$ 25 Bn by 2030; Moderate Decline in Demand being Witnessed amidst COVID-19 Outbreak
Published On : Sep 04, 2020
Functional food ingredients such as vitamins, minerals, prebiotics, proteins, and others are beneficial for the digestive system, immune system, and heart health, besides others. Maintaining digestive health is a very important factor regarding nutrient intake and preventing deficiency-related bodily conditions. This has led to a rise in the consumption of functional foods that are loaded with vitamins, minerals, proteins, fibers, and others. Furthermore, immune cells are also concentrated in the gut region, and a healthy microbiota is necessary for the body. Hence, probiotics are included in food products to enhance gut health and subsequently improve the immune system.
The global functional food ingredients market has witnessed substantial growth over the past few years, and this trend is expected to continue through the course of the forecast period (2020 to 2030). The market is estimated to rise at a steady CAGR of over 6% during the forecast period.
Key Takeaways from Functional Food Ingredients Market Study
- By type, vitamins will enjoy the highest value share in the global functional food ingredients market over the forecast period. This is attributable to the high inclusion of vitamin ingredients in functional beverages.
- On the back of the factor that omega-3 fatty acids are highly recommended for reducing the risk of cardiovascular disease, omega-3 fatty acids are anticipated to witness substantial growth during the forecast period in the global functional food ingredients market.
- By end use, the beverage segment is expected to witness the highest CAGR over the forecast period. The major considerable factor is extensive rise in the consumption of nutritional beverages across the world.
- Growing consumer perception toward preventive healthcare also increases the utilization of vitamins, minerals, probiotics, proteins, and other ingredients in food products.
“Manufactures in the market could acquire wide profits margins by offering functional food ingredients to beverage and infant food manufacturers. Moreover, increasing demand for omega-3 fatty acids, proteins, probiotics, and vitamins has increased the use of these ingredients in numerous food products, which is another potential factor for the growth of the functional food ingredients market. However, the growing impact of COVID-19 on various industries is expected to have a moderate impact on market growth,” says a PMR analyst.
Functional Food Ingredients Market: Competitive Landscape
The functional food ingredients market is fragmented in nature. Key players in this market are focusing on increasing their production capacity to meet rising customer demand. Moreover, major focus on expanding product portfolio and business is also offering a competitive edge to manufacturers. Additionally, enhancing quality and emphasizes on product innovation are offering a beneficial market scenario to key players in the functional food ingredients industry.
Explore More Valuable Insights on Global Functional Food Ingredients Market
Persistence Market Research, in its new report, offers an impartial analysis of the global functional food ingredients market, presenting historical data (2015-2019) and estimation statistics for the forecast period of 2020-2030. The study offers compelling insights on the functional food ingredients market based on type (vitamins, minerals, prebiotics & dietary fibers, probiotics, carotenoids, proteins, and omega-3 fatty acids) and end use (beverages, dairy & dairy-based products, infant food, and bakery & confectionery), across seven regions.
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About Food & Beverage Division at Persistence Market Research
The Food and Beverages team at Persistence Market Research provides all the necessary insights and consulting analysis to fulfill the unique business intelligence needs of clients worldwide. With a catalog of more than 500 reports pertaining to the latest statistics and analysis from the food & beverage industry, the team is happy to help with every business intelligence research and consulting requirement.
Functional Food Ingredients Market
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