Global Functional Food Ingredients Market Analysis 2022
The Global Functional Food Ingredients Market is expected to reach $138.61 billion by 2028 growing at a CAGR of 8.2% from 2021 to 2028. Functional food ingredients are those that give the consumer with additional health benefits in addition to basic nutrition. Functional foods contain natural or synthetic ingredients that promote optimal health and provide energy-boosting benefits. A bioactive molecule that can be used to make functional food items is known as a functional ingredient. The present-day globe is reeling under a myriad of lifestyle disorders, leading to an increase in the reported cases of chronic diseases. The need of the hour is mainly to establish robust and effective dietary patterns with greater inclusion of foods exhibiting enriched benefits in addition to the micro and macronutrients present in them. Functional food ingredients thus include all those matrices that confer advantage beyond that of the traditional nutrients it contains.
Factors such as expansion of production capacity, rising research & development activities, and increasing health awareness among consumers are driving the growth of the market. However, instances of allergies and intolerances related to few ingredients and higher cost for functional food products are restraining the growth of the market.
Based on type, the carotenoids segment is going to have a lucrative growth during the forecast period which can be attributed to its extensive use as safe, natural colorants for food, feed, and cosmetics. They are best known to be essential for plant growth and photosynthesis and are a main dietary source of vitamin A in humans. Also, they reduce the risk of several chronic health disorders, heart disease, and eye degeneration. They are mainly found in algae, plants, and photosynthetic bacteria; however, humans and animals have to rely on food as a source of these compounds.
The key vendors mentioned are Ajinomoto Co., Inc, Amway, Archer Daniels Midland Company, Arla Foods, BASF SE, Cargill Inc, Chr. Hansen Holding A/S, DuPont, General Mills Inc, Herbalife, Ingredion Incorporated, Kerry Group PLC, Koninklijke DSM N.V, Nestlé, Standard Functional Foods Group Inc, and Tate & Lyle PLC.
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