Functional Ingredients Market, By Product (Maltodextrin, Probiotics, Polydextrose, Modified Starch, Pectin , Omega-3 (EPA, DHA, ALA), Omega-6, Conjugated Linoleic Acid, Rice Protein , Protein Hydrolysate, Mung Bean Protein), By Application (Food & Beverages, Personal Care, Pharmaceuticals, Animal Feed, Other) , and By Geography (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa)

Published In : Jun 2023

Code : CMI5827

Pages :152

Formats :

Excel and PDF

Industry : Food and Beverages

Functional Ingredients MarketSize and Trends

The global functional ingredients market size was valued at US$ 76.79 Billion in 2022 and is anticipated to witness a compound annual growth rate (CAGR) of 6.6% from 2023 to 2030. Functional ingredients market is growing on the account of rising prevalence of chronic diseases and micronutrient deficiencies, the growth of the middle class in emerging countries and rising consumer demand for healthier food products. The market growth is also bolstered by a number of technological innovations, such as encapsulation technology. This process enable manufacturers to use a range of functional ingredients in their products while maintaining the quality and safety that customers expect.

Figure 1. Global Functional Ingredient Market, By Region 2023

Figure 2. Global Functional Ingredient Market, By Application 2023

Global Functional Ingredients Market Trends:

Growing trend of plant-based ingredients

The growing emphasis on the use of plant-based food products and rising investments in research & development activities by key market players are fueling the functional ingredients market growth. Moreover, shift in consumer preference towards healthy snacks and drinks is further contributing to the market growth.

Growing health and wellness trend

A wide range of nutritional and functional food ingredients are helping to address consumer demands for better-for-you foods and drinks that offer health benefits beyond basic nutrition. Functional ingredients are also known as nutraceuticals ingredients, these ingredients can help prevent nutrient deficiencies and promote overall wellbeing.