Meticulous Research® has released a new report titled “Functional Ingredients Market by Type (Vitamins, Protein, Amino Acid, Probiotics), Source (Natural), and Application (Food and Beverage [Dairy Products, Bakery & Confectionery, Energy Drinks], Pharmaceuticals, Animal Nutrition) - Global Forecast to 2030.” According to the report, the functional ingredients market is set to grow to $186.75 billion by 2030, with a compound annual growth rate (CAGR) of 7.6% from 2024 to 2030.

Key growth drivers include increasing demand in the food and beverage industry, rising health and wellness trends, and a shift towards healthier diets. Other factors include changes in lifestyle, a rise in chronic diseases, and a growing need for compound feed. However, the market could face challenges from stringent regulations and high ingredient costs. Despite these challenges, rising investments in functional foods and beverages, along with a trend toward natural, organic, and clean-label ingredients, are expected to create significant growth opportunities.

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Market Segmentation
• By Type: The market is divided into vitamins, proteins and amino acids, minerals, probiotics, prebiotics, botanical extracts, omega-3 & 6 fatty acids, fibers & specialty carbohydrates, and other functional ingredients. The vitamins segment is expected to dominate in 2024 due to increasing demand for vitamin fortification in various products, growing consumer awareness, and the expansion of e-commerce for vitamin-based supplements.

• By Source: The market is categorized into naturally-sourced and synthetic-sourced functional ingredients. Naturally-sourced ingredients are anticipated to have a larger market share and higher growth rate due to consumer preferences for health-conscious and sustainable products and stricter regulations on synthetic ingredients.

• By Application: This segment includes food and beverage (with subcategories such as dairy products, bakery & confectionery, snacks, infant food, and beverages like energy drinks and fortified juices), pharmaceuticals, animal nutrition, and other applications. The food and beverage segment is expected to be the largest due to rising demand for nutritional products and functional ingredients aimed at addressing health concerns such as obesity, diabetes, and cardiovascular diseases.

• By Geography: The market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. North America is projected to lead the market in 2024, driven by high health awareness, a well-established food and beverage industry, major industry players, and advancements in food technology. Asia-Pacific, Europe, Latin America, and the Middle East & Africa will also contribute to market growth.

Quick Buy – Functional Ingredients Market - Global Opportunity Analysis and Industry Forecast (2023-2030), Research Report: https://www.meticulousresearch.com/Checkout/28519244

Key Market Players
Notable players in the global functional ingredients market include Archer-Daniels-Midland Company (U.S.), Arla Foods amba (Denmark), BASF SE (Germany), Chr. Hansen Holding A/S (Denmark), Cargill, Incorporated (U.S.), International Flavors & Fragrances Inc. (U.S.), Ingredion Incorporated (U.S.), Kerry Group plc (Ireland), Koninklijke DSM N.V. (Netherlands), Glanbia plc (Ireland), Roquette Frères S.A. (France), and Tate & Lyle Plc (U.K.).

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