The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The rise in demand for fortified food & beverage products are expected to drive innovation in functional foods manufacturing, thus driving the market during the forecast period.

The global functional foods market is expected to grow rom $84.74 billion in 2020 to $93.09 billion in 2021 at a compound annual growth rate (CAGR) of 9.9%. The functional food ingredients market is expected to reach $125.65 billion in 2025 at a CAGR of 7.8%.

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Global Functional Foods Market Segments Include:

• By Type: Probiotics And Prebiotics, Carotenoids, Dietary Fibers, Fatty Acids, Vitamins, Minerals, Others
• By Source: Natural Synthetic
• By Application: Beverages, Dairy Products, Infant Food, Bakery And Confectionery, Others
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America is the largest region in the global functional foods market in 2021.

Major Market Players in the functional foods market include Cargill, BASF, Archer Daniels Midland, DuPont Nutrition & Biosciences, Arla Foods, Kerry Group, Ajinomoto, DSM.

Collaborations and partnerships are are key trends gaining popularity in shaping the functional food ingredients market. Major companies operating in the functional food ingredients sector are focused on partnering or collaborating with other companies to develop innovative solutions for functional food ingredients. For instance, in December 2019, Cargill, a US-based food company, and Renmatix, a US-based plant ingredient innovations company, signed a joint development agreement (JDA) to explore a novel approach for making functional food ingredients from unutilized plants material. This agreement was to manufacture highly functional food ingredients. The companies will use Renmatix’s Plantrose Process, which is a proprietary water-based technology, and Cargill’s preferred feedstocks.

The Functional Foods Global Market Report 2023  provides a functional foods market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The functional foods market forecast analyzes functional foods market size, functional foods market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The functional food ingredients market consists of sales of functional food ingredients by entities (organizations, sole traders, and partnerships) that are bioactive compounds or ingredients used in manufacturing functional food products. Vitamins, minerals, antioxidants, hydrocolloids, prebiotics, amino acids, plant extracts, and carotenoids are some examples of functional food ingredients. The ingredients in functional foods provide health benefits, and some of them include supplements or other additives.

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