The global functional ingredients market size was valued at USD 75,389.2 million in 2023 and is poised to grow at a significant CAGR of 6.9% during the forecast period 2024-30. It also includes market size and projection estimations for each of the five major regions from 2024 to 2030. The research report includes historical data, trending features, and market growth estimates for the future. Furthermore, the study includes a global and regional estimation and is further split by nations and categories within each region. The research also includes factors and barriers to the functional ingredients market growth, as well as their impact on the market's future growth. The report gives a comprehensive overview of both primary and secondary data.
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The global functional ingredients market segmentation:
1) By Type: Fiber, Fatty Acids, Botanical Extracts, Vitamins & Minerals, Probiotics & Prebiotics, Proteins & Amino Acids, and Others
2) By Source: Natural, and Synthetic
3) By Application: Animal Feed, Pharmaceuticals, Food & Beverages, and Cosmetics & Personal Care
4) By Functionality: Antioxidants, Health & Wellness, Sports Nutrition, Natural Colors & Flavors, and Others
The primary factors of the functional ingredients market drivers are increasing awareness among consumers about the importance of a healthy lifestyle and preventive healthcare. The functional ingredients market report helps to provide the best results for business enhancement and business growth. It further helps to obtain the reactions of consumers to a novel product or service. It becomes possible for business players to take action for changing perceptions. It uncovers and identifies potential issues of the customers. It becomes easy to obtain the reactions of the customers to a novel product or service. It also enlightens further advancement, so it suits its intended market.
The functional ingredients market research report gives a comprehensive outlook across the region with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America was the largest region in the functional ingredients market report, accounting for the highest share in 2023. It was followed by Asia Pacific, and then the other regions.
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The important profiles and strategies adopted by the functional ingredients market key players are ADM, NutriBiotic, Tate & Lyle, Roquette Frères, Arla Foods amba, Kerry Group plc., Cargill Incorporated, Ingredion Incorporate, Omega Protein Corporation, Golden Grain Group Limited is covered here to help them in strengthening their place in the market.
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