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. Functional food ingredients deliver additional or enhanced benefits over and above their basic nutritional value. Some functional foods are generated around a particular functional ingredient, such as probiotics, prebiotics, or plant stanols and sterols. Other functional foods or drinks can be foods fortified with a nutrient that would not usually be present to any great extent.
Key players in this market include Cargill, Incorporated (US), BASF SE (Germany), Archer Daniels Midland Company (US), DuPont (US), and Arla Foods (Denmark)
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Cargill is involved in the production of various specialty ingredients and other industrial products for various applications. The company operates through four business segments, namely, animal nutrition & protein, food ingredients & applications, origination & processing, and industrial & financial services. It offers functional food ingredients through its food ingredients & applications segment. It offers a variety of ingredients for food and beverage manufacturers, foodservice companies, and other retailers. Various types of food ingredients offered by the company include probiotics, and protein ingredients, that find applications in the beverage, bakery, dairy, and meat sectors. It offers various ingredients to enhance the appearance, taste, and stability of fresh meat and specialty meat products. In April 2020, Cargill entered into a joint venture with Bflike, a start-up created by BOX NV, poised to be a new technology leader in the rapidly evolving meat and fish alternative categories. This joint venture would help Cargill enable plant-based alternatives that exceed consumer expectations and enrich consumer diets with responsible, sustainable, and affordable options in various regions.
BASF SE is a leading chemical company and is listed on stock exchanges in Frankfurt (Germany), London (UK), and Zurich (Switzerland). The nutrition & care segment offers a comprehensive range of products across human nutrition, animal nutrition, pharma solutions, and aroma ingredients. BASF is one of the strongest suppliers of vitamins, antioxidants, and carotenoids for the human nutrition business supplying to all major companies in the pharma, nutraceutical, beverage, and dietary supplement industries. With a broad range of functional ingredients ranging from conjugated linoleic acid, peptides, plant-based sterols, colorants, omega 3, algae-based docosahexaenoic acid, and a broad range of food performance ingredients. In April 2021, BASF agreed with Sandoz GmbH, a subsidiary of Novartis, to invest at the Kundl/Schaftenau Campus in Austria. This agreement would enable BASF to further develop its production footprint for enzymes and biotechnology products.
ADM is a food manufacturing company that is primarily involved in the production of food & beverage ingredients, feed & feed ingredients, industrial ingredients, biofuels, and naturally derived alternatives to industrial chemicals. . It offers functional food ingredients under its wild flavors and specialty ingredients subsegment undernutrition. The company’s nutrition segment is involved in the manufacturing, sales, and distribution of a wide array of products from nature, including plant-based proteins, natural flavor ingredients, flavor systems, natural colors, emulsifiers, soluble fiber, polyols, hydrocolloids, natural health, and nutrition products, including probiotics, prebiotics, enzymes, and botanical extracts, and other specialty food and feed ingredients. It offers various natural food flavors and colors, emulsifiers and stabilizers, specialty starches, and sweeteners. In November 2020, ADM Ventures invested in Health for Life Capital (HFLC) Fund II. HFLC, a Paris-based management company, is a leading venture capital fund dedicated to health, nutrition, microbiota, and digital health. It would help meet long-term demand for the convergence of food & pharmaceuticals and bioactives & nutrition for wellness solutions.
Functional Food Ingredients Market by Type (Probiotics, Prebiotics, Proteins & Amino Acids, Phytochemicals & Plant Extracts, Omega-3 Fatty Acids, Carotenoids, and Fibers & Specialty Carbohydrates), Source, Application, and Region - Global Forecast to 2026
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