Dublin, July 01, 2024 (GLOBE NEWSWIRE) — The “Global Functional Food Ingredients Market by Type (Probiotics, Protein & Amino Acids, Phytochemicals & Plant Extracts, Prebiotics, Omega-3 Fatty Acids, Carotenoids, Vitamins), Application, Source, Form, Health Benefits and Region – Forecast to 2029” report has been added to ResearchAndMarkets.com’s providing.
The worldwide purposeful meals components market is estimated to be valued at USD 119.2 billion in 2024 and is projected to achieve USD 165.8 billion by 2029, at a CAGR of 6.8%
The worldwide demand for purposeful meals components has surged considerably within the post-pandemic period, pushed by heightened consciousness of well being and wellness amongst customers worldwide. As an example, the World Financial Discussion board highlights a shift the place 62% of People imagine their well being is extra vital than earlier than the pandemic, with a rising openness to adopting more healthy existence. [Source: World Economic Forum, 6 trends that define the future of health and wellness].
Furthermore, a 2022 scientific evaluation revealed by the Nationwide Institutes of Well being within the journal Vitamin, Immunity, and COVID-19 discovered a major rise in search engine queries associated to immunity-boosting meals and dietary supplements throughout and post-pandemic. Thus, the pandemic underscored the essential significance of immunity and total well-being, prompting people to prioritize their well being like by no means earlier than. This shift in mindset has led to a major willingness to spend money on premium purposeful and fortified meals and drinks recognized for his or her immune-boosting properties.
Furthermore, customers have change into more and more cognizant of the inadequacy of their each day diets in offering important vitamins. This consciousness has fueled a rising demand for purposeful meals components that provide focused well being advantages, corresponding to nutritional vitamins, minerals, and antioxidants. Because of this, there’s a heightened curiosity in merchandise fortified with these components to fill dietary gaps successfully.
Moreover, the rising curiosity in preventive healthcare has fueled the demand for purposeful meals that not solely fulfill starvation but additionally ship added well being advantages. Producers are responding to this demand by innovating and introducing a wide selection of purposeful meals and drinks fortified with purposeful meals components tailor-made to satisfy numerous shopper wants.
Distinguished firms embody Cargill, Integrated (US), BASF SE (Germany), ADM (US), Worldwide Flavors & Fragrances Inc. (US), Arla Meals amba (Denmark), Kerry Group plc (Eire), Ajinomoto Co., Inc. (Japan), DSM (Netherlands), Ingredion (US), and Tate & Lyle (UK) amongst others.
Through the forecast interval, the pure purposeful meals components throughout the supply phase are estimated to dominate the purposeful meals components market
Pure purposeful meals components, sourced from numerous origins corresponding to plant-based, animal-based, mineral, microbial, fermentation, and dairy-derived components, are poised to dominate the purposeful meals components market. Client desire for pure components continues to surge, pushed by a rising consciousness of well being and wellness.
Pure sources are perceived as safer and more healthy options to artificial counterparts, aligning with the clear sourcing and the clear label development. With customers more and more scrutinizing ingredient lists, producers are compelled to make the most of pure sources to satisfy demand and keep market competitiveness.
Pure purposeful meals components supply inherent dietary advantages. Plant-based sources, as an illustration, present important nutritional vitamins, minerals, and fiber, contributing to total well being and well-being. Equally, dairy-derived components boast excessive protein content material and different micronutrients, interesting to health-conscious customers. Furthermore, pure sources typically endure minimal processing, preserving their dietary integrity.
This authenticity resonates with customers searching for healthful, minimally processed meals. In distinction, artificial purposeful meals components might elevate considerations relating to security and long-term well being implications, deterring some customers. Moreover, the flexibility of pure sources permits for innovation and formulation flexibility, catering to numerous dietary preferences and purposeful wants. Hybrid or blended sources, whereas providing sure benefits, might lack the perceived purity and authenticity related to pure components.
Prevalence of continual ailments and presence of key business gamers have positioned the US in North America area because the dominant market within the purposeful meals components market.
The US boasts a sturdy economic system with a excessive stage of shopper spending, offering ample alternative for the expansion of purposeful meals merchandise. Moreover, the presence of main gamers within the purposeful meals components market corresponding to Cargill, Integrated (US), ADM (US), Worldwide Flavors & Fragrances Inc. (US), and Ingredion (US) additional strengthens the US place.
These firms have in depth sources, analysis capabilities, and distribution networks, permitting them to innovate and introduce new merchandise effectively. As an example, in August 2022, Worldwide Flavors & Fragrances Inc. (US) launched its latest initiative, the Nourish Innovation Lab, positioned throughout the firm’s Union Seaside, New Jersey analysis and growth (R&D) middle. This facility capabilities as a vibrant middle the place scientists, flavorists, and designers collaborate alongside trendy applied sciences, corresponding to meals harness instruments, and deep ingredient experience, offering prospects with holistic product design options.
Furthermore, the prevalence of continual ailments within the US, as highlighted by the Facilities for Illness Management, underscores the rising shopper demand for purposeful meals that provide extra well being advantages. With six in ten People dwelling with at the least one continual illness, there’s an elevated consciousness of the significance of food plan and vitamin in managing well being situations. This has led to an elevated curiosity in purposeful meals components that deal with particular well being considerations corresponding to coronary heart well being, weight administration, and digestive wellness.
In contrast to different North American nations corresponding to Canada and Mexico, the US market advantages from its sheer dimension and variety, providing a bigger shopper base and larger alternatives for product innovation and market penetration. Moreover, the US regulatory setting is conducive to the event and advertising and marketing of purposeful meals components, offering firms with a supportive framework for product growth and commercialization.
The report gives insights on the following tips:
- Evaluation of key drivers (Rise in incidences of continual ailments), restraints (Increased price for purposeful meals merchandise because of the inclusion of more healthy or naturally sourced components), alternatives (Adoption of latest applied sciences within the purposeful meals business), and challenges (Complexities associated to the combination and adulteration of purposeful meals merchandise) influencing the expansion of the purposeful meals components market.
- Product Growth/Innovation: Detailed insights on upcoming applied sciences, analysis & growth actions, and new product launches within the purposeful meals components market.
- Market Growth: Complete details about profitable markets – the report analyses the purposeful meals components market throughout diverse areas.
- Market Diversification: Exhaustive details about new merchandise, untapped geographies, current developments, and investments within the purposeful meals components market.
- Aggressive Evaluation: In-depth evaluation of market shares, development methods, and repair choices of main gamers corresponding to Cargill, Integrated (US), BASF SE (Germany), ADM (US), Worldwide Flavors & Fragrances Inc. (US), Arla Meals amba (Denmark), Kerry Group plc (Eire), Ajinomoto Co., Inc. (Japan), DSM (Netherlands), Ingredion (US), and Tate & Lyle (UK) amongst others within the purposeful meals components market methods. The report additionally helps stakeholders perceive the purposeful meals components market and gives them with data on key market drivers, restraints, challenges, and alternatives.
Key Attributes:
| Report Attribute | Particulars |
| No. of Pages | 459 |
| Forecast Interval | 2024 – 2029 |
| Estimated Market Worth (USD) in 2024 | $119.2 Billion |
| Forecasted Market Worth (USD) by 2029 | $165.8 Billion |
| Compound Annual Progress Charge | 6.8% |
| Areas Coated | World |
Firms Featured
- Cargill, Integrated
- BASF SE
- Adm
- Worldwide Flavors & Fragrances Inc.
- Arla Meals Amba
- Kerry Group PLC
- Ajinomoto Co. Inc.
- DSM
- Ingredion
- Tate & Lyle
- Teijin Restricted
- Chr. Hansen A/S
- Glanbia PLC
- Kemin Industries, Inc.
- Beneo
- Cosun
- Roquette Freres
- Soylent
- A&B Elements, Inc.
- Golden Grain Group Restricted
- Aminola
- Stratum Vitamin
- Foodchem Worldwide Company
For extra details about this report go to https://www.researchandmarkets.com/r/w56wf
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