Functional Food Ingredients Market will Grow $137.1 billion by 2026
by Mit K. SEOThe global functional food ingredients market is
projected to reach USD 137.1 billion by 2026, from USD 98.9 billion in
2021, at a CAGR of 6.8% during the forecast period. Functional food
ingredients are used to enhance certain physiological functions such as
improve gastrointestinal health, reduce cholesterol levels, prevent
dental caries, and improve bone and gut health to prevent or cure
various diseases. Regular consumption of functional food ingredients
reduces the risk of several chronic diseases such as cardiovascular
diseases, cancer, diabetes, high blood pressure, rickets, and
osteoporosis. There are various types of functional food ingredients
that are fortified into food beverage products to increase the health
nutritional benefits of the product. This is due to the growing health
consciousness among consumers and rising demand for products with
functional benefits, and the rising incidences of chronic diseases.
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Heart
disease is one of the leading causes of death in the US. In November
2017, the Centers for Disease Control and Prevention (CDC) estimated
that around 735,000 Americans suffer heart attacks annually. According
to the World Health Organization (WHO), between 2009 and 2030, about
23.6 million people will die from cardiovascular diseases globally,
predominantly from heart disease and stroke. Hence, offering products
that help prevent heart problems and are helpful for heart health has
become a key priority among food beverage manufacturers. Functional
ingredients such as minerals, omega-3 fatty acids, vitamins, and
carotenoids boost heart health and other related diseases conditions
such as high blood pressure, high cholesterol, diabetes, and obesity.
The
market for functional food is increasing, as consumers prefer balanced
diets and food that not only takes care of their appetite but also
enhances immunological tolerance. Functional foods are consumed as a
part of the diet plan providing both nutrition and health benefits. They
stimulate growth, development and improve physical well-being, and
among other health benefits. They also provide vitamins, minerals, and
other essential nutrients to the human body, while simultaneously
protecting cells against oxidative damage, which could lead to cancer.
It can be in the form of conventional foods such as soy protein, oat
fiber, or in the form of fortified food such as vitamin-
mineral-fortified cereal, folate-fortified flour grain products,
phytosterol-fortified spreads, and yogurt with live bacteria culture,
providing positive health outcomes and reducing the risk of diseases.
China
is one of the most robustly growing markets in Asia Pacific. The demand
for functional food ingredients in China is increasing due to the
changing lifestyles of consumers and preference for fortified food
beverage products. The increasing purchasing power of consumers due to
the economic development in China has also led to an increase in the
demand for high-quality processed foods. Additionally, consumer
awareness about the health benefits of functional foods, due to the
increased consumption of convenience products is also expected to drive
the demand for functional food beverage products in the country.
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Key
players in this market include Cargill, Incorporated (US), BASF SE
(Germany), Archer Daniels Midland Company (US), DuPont (US), Arla Foods
(Denmark), Kerry Group (Ireland), Ajinomoto Co., Inc. (Japan),
Koninklijke DSM N.V. (Netherlands), Ingredion Incorporated (US), and
Tate Lyle PLC (UK). Some of the other players include Chr. Hansen
Holding A/S (Denmark), Kemin Industries, Inc. (US), BENEO (Germany),
Royal Cosun (Netherland), Roquette Frères (France), Soylent (US), AB
Ingredients (US), Golden Grain Group Limited (China), Sugarlogix (US),
and Stratum Nutrition (US).
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Created on Dec 9th 2021 07:38. Viewed 250 times.