The global functional ingredients market size reached USD 67.94 Billion in 2020 and is expected to register a revenue CAGR of 6.3%, during the forecast period, according to latest analysis by Emergen Research. Some of the major factors driving global functional ingredients market revenue growth are rising demand for nutraceuticals for disease risk reduction and increasing demand for functional ingredients in personal care and pharmaceutical industries. Increasing demand for probiotics-based food and beverages is also expected to boost revenue growth of the market going ahead.
Rising demand for nutraceuticals for disease risk reduction is expected to augment market growth in the near future. Nutraceuticals are food-derived products that are taken in tablet, capsule, and liquid forms and offer physiological advantages. Nutraceuticals help maintain good health and reduce the risk of diseases. Increasing demand for functional ingredients in personal care and pharmaceutical industries is expected to boost market revenue growth going ahead. Functional ingredients are used in the pharmaceutical industry as materials for tablet surface coating and in the cosmetics sector for manufacturing of creams as well as other personal care and grooming products. Availability of demographic-specific probiotics, including for different genders and geriatrics, differentiates the probiotics business. Rising demand for probiotic-based foods and beverage products is expected to continue to drive market revenue growth over the forecast period.
However, easy accessibility of alternatives offered by domestic suppliers and side effects of using functional ingredients are expected to hamper growth of the global functional ingredients market to some extent over the forecast period.
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The report also studies the key companies of the Functional Ingredients market along with analysis of their business strategies, M&A activities, investment plans, product portfolio, financial standing, gross profit margin, and production and manufacturing capacities.
Based on the competitive landscape, the market report analyses the key companies operating in the industry:
Ingredion Incorporated, FMC Corporation, Archer Daniels Midland Company, Golden Grain Group Limited, Cargill Inc., Roquette Freres SA, Omega Protein Corporation, BASF SE, BENEO GmbH, and Zimitech, Inc. (Sugarlogix)
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The study finds that how on certain account threats and challenges can act as a roadblock for the business. A thorough evaluation of the Functional Ingredients market in the light of macro-environment such as social, political, economical as well as technological environment add granularity to the overall research. In addition, the study produces real-time data on vital aspects including sales, profits, gross margin and growth prospects to show how going forward the business will witness a substantial upswing.
Further key findings from the report suggest
- Software segment revenue is expected to expand at a significantly rapid CAGR during the forecast period. One of the major components of the Functional Ingredients system is software. Image capture, processing, and analyzing Rice protein segment revenue is expected to expand at a significantly rapid CAGR during the forecast period. Customers’ increasing awareness of nutritious foods is expected to boost demand for rice protein in a range of sporting and energy-related nutritional foods, which is expected to boost revenue growth of this segment.
- Food & beverages segment is expected to lead in terms of revenue share over the forecast period. Increasing customers interest in functional ingredients that offer additional health and fitness benefits due to rising customer awareness regarding health and wellness and better nutritional health benefits.
- North America is expected to account for a larger revenue share than other regional markets over the forecast period because of increased health issues and increased prevalence of diseases including diabetes, obesity, and digestive problems in countries in the region, demand for nutritious foods is increasing.
The report further divides the Functional Ingredients market into key segments such as types, applications, end-user industries, technologies, and key regions of the market. The report also sheds light on the segment and region exhibiting promising growth in the Functional Ingredients market.
Emergen Research has segmented the global functional ingredients on the basis of product, source, application, and region:
Product Outlook (Volume, Tons, Revenue, USD Billion; 2018–2028)
- Probiotics
- Maltodextrin
- Polydextrose
- Pectin
- Modified Starch
- Conjugated Linoleic Acid
- Protein Hydrolysate
- Rice Protein
- Mung Bean Protein
- Omega-3 (EPA, DHA, ALA)
- Omega-6
Source Outlook (Volume, Tons, Revenue, USD Billion; 2018–2028)
- Natural
- Plant
- Animal
- Microbial
- Synthetic
Application Outlook (Volume, Tons, Revenue, USD Billion; 2018–2028)
- Pharmaceuticals
- Food & Beverages
- Animal Feed
- Personal Care
- Others
The study segments the Functional Ingredients industry in light of major classification such as product type, potential markets, application, and end-user. This industry assessment for the forecast period, 2021 – 2028 incorporates projections pertaining to the investment feasibility, gross margin, profits, consumption volume, production capability and major market vendors. Likewise, statistics associated with the competitive landscape, shifting consumer behaviour and spending power is showcased and well-explained with the help of treasured resources such as charts, graphs and graphic images, which can be easily incorporated in the business or corporate presentations.
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Key point summary of the report:
- The report offers a comprehensive overview of the market size, share, and growth rate in the forecast duration.
- It provides details about current scenario, historical data, giving an accurate market forecast for the coming years.
- The study categorizes the market on the basis of product types, applications, end users, market value and volume, business verticals, and 5 major regions.
- It also offers regional market analysis and forecast for prominent geographies in the sector viz., North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
- Industry supply chain, sourcing strategy, upstream feedstock, and downstream demand analysis has also been undertaken in the research report.
- The study offers a comprehensive understanding of the demand and supply dynamics, including production and consumption rates, and mapping of the overall market.
- The report employs different analytical tools including, SWOT analysis, Porter’s five forces analysis, and pricing analysis, to give precise market information.
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