According to a new study by TMR, the sales of functional food ingredients are expected to exceed 1,900 thousand tons in 2019, and record a Y-o-Y growth of ~ 6% in 2020. Growth of the functional food ingredients market remains driven by a slew of factors, which range from the rising demand for clean label products and changing regulations in the food and beverage industry, to the growing awareness among consumers.
Functional food ingredients are available in various ingredient types
such as vitamins, minerals, prebiotic & dietary fiber, probiotics,
carotenoids, proteins, and omega-3 fatty acids. Manufacturers of functional
food ingredients are customizing these for use in certain specific
applications. Manufacturers of functional food ingredients are also providing
certifications for certain claims, such as organic, non-GMO, Kosher, Halal, and
many more.
These functional food ingredients are used in certain applications in
the food and beverage industry. In the food industry, functional food
ingredients are in high demand in dairy, bakery, and confectionery
products. Prebiotic ingredients are mainly used in dairy
products, and this is very popular in the Asia Pacific region especially in
countries such as China, Japan, India, etc.
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Escalated Demand for Healthy Beverages Driving
Functional Food Ingredient Sales
Increasing demand for healthy beverages across the globe is expected to
create opportunities for players in the global functional food ingredients
market. Rising health conscious consumers have increased the demand for
nutritional bars and beverages, thus increasing the sales of functional food
ingredients. Players operating in the functional food ingredients market are
expected to leverage this opportunity during the forecast period.
Due to European diets being high in fiber content, the perceived need
for dietary fiber as a functional food ingredient is low. However, other types
of functional food ingredients such as proteins, prebiotics, omega-3 fatty
acids, etc., are high in demand. Products targeting specific ailments are
expected to increase in terms of new product launches. Some key players have
already put forward their products into specific wellness segments, such as
diabetes-friendly, digestion enhancement, cognitive enhancement, and others.
This has also increased the demand of functional food ingredients.
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Market Gaining Traction with Snackification Trend
The consumption of protein-rich foods is trending among consumers. At
the same time, health conscious consumers have reduced the consumption of
products that are high in carbs and sweeteners, and food that has high fat
content. Thus, high fiber and high protein food consumption has increased,
thereby increasing the demand of functional food ingredients from the food
industry.
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The snackification trend is increasing, and the consumption of healthy
products is increasing too. This has seen heightened product launches in the
market, and food product manufacturers switching to functional food ingredients
rather than economical products that are not good for health. Functional food
ingredients are available in specific ingredient types and in mixes. The
protein trend is commonly being observed in developed regions such as North
America, Europe, and Japan. This is increasing the demand for functional food
ingredients in these regions.
Functional Food Ingredients Market: Competitive
Landscape
Some of the key players in the global functional food ingredients market
are The Archer Daniels Midland Company, BASF SE, Cargill, Inc., E. I.
Du Pont De Nemours and Company, Kerry Group Plc, Corbion N.V., Tate & Lyle
Plc, AkzoNobel N.V., Koninklijke DSM N.V., Ingredion Inc., Fenchem Biotek Ltd.,
Jungbunzlauer Suisse AG, Dairy Crest Group Plc, etc.
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