Market Research Report
Functional Ingredients Market Analysis, By Product (Maltodextrin, Probiotics, Polydextrose, Modified starch, Pectin, Omega-3, Omega-6, CLA, Rice protein, Protein hydrolysate), By Application, And Segment Forecasts, 2014 - 2026
|Published by||Grand View Research, Inc.||Product code||572921|
|Published||Content info||145 Pages
Delivery time: 1-2 business days
|Functional Ingredients Market Analysis, By Product (Maltodextrin, Probiotics, Polydextrose, Modified starch, Pectin, Omega-3, Omega-6, CLA, Rice protein, Protein hydrolysate), By Application, And Segment Forecasts, 2014 - 2026|
|Published: September 22, 2017||Content info: 145 Pages||
The global functional ingredients market is expected to be valued at USD 96.1 billion by 2026, growing at a CAGR of 5.9%, according to a new report by Grand View Research, Inc. The globally increasing consumption of healthy convenience foods has been a major factor driving the market for the last few years. The growing health consciousness along with the rapidly expanding pharmaceutical industry in Asia Pacific have also led to the increased utilization of functional ingredients.
Growing health concerns and increasing health issues such as diabetes, obesity, and digestive disorders are the major factors expected to propel the regional market over the forecast period. The introduction of innovative products and investments made by major producers have resulted in a considerable demand for functional ingredients in food & beverages industry. Moreover, shifting consumer preferences for premium personal care products based on natural and herbal ingredients are estimated to drive the market over the forecast period, especially in personal care applications.
Probiotics were the largest product category in 2016 and are expected to maintain a substantial growth rate over the forecast period. Rice protein is projected to witness the fastest CAGR of 8.4% during the forecast period.
Rice protein concentrates are being increasingly utilized in nutritional beverages, bars, baked food products, confectioneries, and desserts, which is likely to have a positive impact on their growth over the forecast period. Companies including Prinova utilize rice protein concentrates in their products, which is anticipated to increase consumer awareness, thereby fueling the demand for the product over the forecast period.Consumers have been increasingly focusing on healthy diets, which is predicted to boost the demand for rice protein in various sports & energy nutrition products in the next few years.