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.
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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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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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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.
Global Functional Food Ingredients Market: Segmentation
- Functional Food Ingredients Market by Ingredient
- Vitamins
- Minerals
- Prebiotic & Dietary Fiber
- Probiotics
- Carotenoids
- Proteins
- Omega-3 Fatty Acids
- Functional Food Ingredients Market by Application
- Beverages
- Dairy & Products
- Bakery & Confectionery
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