The global Functional Food Ingredients Market size is estimated to be valued at USD 98.9 billion in 2021. It is projected to reach USD 137.1 billion by 2026, recording a CAGR of 6.8% during the forecast period. The increasing incidences of chronic diseases such as cancer, diabetes, heart disease, and high blood pressure in various countries have led governments to form mandates towards increasing the consumption levels of fortified food. According to the World Health Organization, chronic diseases such as ischemic heart diseases, stroke, lower respiratory infections, and chronic obstructive pulmonary diseases were among the major causes of death globally. Due to the increasing demand for functional ingredients, manufacturers are making significant investments in the sector. Manufacturers such as Cargill (US), Archer Daniels Midland Company (US), and Koninklijke DSM N.V. (Netherlands) are investing in r&d to treat chronic health conditions.
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High-value natural carotenoid development will boost the demand for functional food ingredients. The development of different techniques to increase the scope of natural carotenoid production and decrease the cost of those products offer several opportunities in the carotenoid market. A large number of patents are being registered for new techniques to produce naturals carotenoid with more precision and less expense.
Prebiotics type is the fastest growing functional food ingredients market due to inadequate consumption of lactic acid bacteria or their growth stimulants, including non-digestible carbohydrates and the other human health benefits that they offer in the human body. Additionally, Prebiotics offers an ample amount of health benefits which the type offered such as improving the activity of good bacteria and increasing mineral absorption, and others.
South America is projected to be the fastest-growing market owing to the increasing cases of malnutrition in the region. According to the Global Nutrition Report 2020, around 8% of the population live with diabetes and around 23% of the citizens are living with obesity. Around 42.5 million population which is around 6.5% of the Latin Americans is facing hunger as per the new UN FAO report. All these factors created awareness among the population and government to include functional food in their diet, which will drive the market for functional food ingredients in the region.
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