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"The Demand for Multifunctional Food Ingredients was estimated at USD 68 Bn in 2019. It is projected to witness a CAGR of 6.6 % during the Forecast Period (2020-2028)”
Food ingredients are mostly used in the food manufacturing industry to get the desired product quality. Multifunctional food ingredients are used in order to replace gluten, fats, gums and other such expensive or unhealthy ingredients in foods. These ingredients ensure food safety and enhance shelf life, maintain taste, textures, increase product yield and appearance. The rise in demand for natural ingredients and clean label products also helps to increase the demand for multifunctional ingredients in the global market. The market for multifunctional ingredients is segmented on the basis of ingredient application, type, and geography. The ingredient type segment is further bifurcated in emulsion and flavours, fibres, hydrocolloids, yeast extracts, oat extracts, bulking agent and others.
Consumers demand for clean label products and natural ingredients are key drivers for the multifunctional food ingredient market. As companies launch new blends of ingredients with all-natural ingredients that can be used to improve product quality without loss of processing. In early 2015, Corbin launched a new range of multi-functional food ingredients for meat and poultry products.
The global multifunctional food ingredient market on the basis of the application segment is bifurcated into meat & poultry, bakery & confectionery products, desserts and toppings, dairy products and processed food products. The geography segment is analysed into Asia-pacific, North America, Latin America, Europe, Middle East and Africa (MEA).
By Ingredient Type, Protein is expected to hold a substantial share in the Multifunctional Food Ingredients Market across the Globe. It Is Expected To Hold XX% Of The Total Market.
The intake of protein-rich foods is on the rise among consumers. At the same time, health-conscious customers have reduced their intake of items that are high in carbs and sweeteners and food with high-fat content. As a result, high fibre and high protein food consumption have risen, increasing the demand for natural food ingredients from the food industry. The rate of snacking is on the rise, and consumption of nutritious items is also on the rise.
This has seen increased product launches on the market and food product manufacturers turn to practical food ingredients rather than economic goods that are not good for health. Functional food ingredients are available in different types of ingredients and in mixtures. Protein patterns are generally seen in developed regions such as North America, Europe, and Japan. The demand for functional food ingredients in these regions is growing.
By Application, Healthy Beverages are estimated to witness high sales in Multifunctional Food Ingredient Market
High demand for healthy beverages across the globe is expected to create opportunities for players in the global multifunctional food ingredient market. Healthy beverages expected to hold a XX% share in the multifunctional food ingredient market. Rising health-conscious consumers have increased demand for sales of multifunctional food ingredients, nutritional bars and beverages. Players operating in the multifunctional food ingredients market are expected to leverage this opportunity during the forecast period. Health-conscious consumers have reduced the consumption of products that are high in sweeteners and carbs, food that has high in fat content. Thus, high protein and high fibre food consumption has increased.
North America and Europe Have Developed Markets for Functional Food Ingredients
Increasing demand for processed food and ready-to-eat items in North America and Europe, the market for multifunctional food ingredients is expected to register healthy CAGRs of XX% during the forecast period.
The market for multifunctional food ingredient will hold substantial share in North America owing to the changing food consumption habits of the people demanding nutritious ingredients in food, increasing incidences of diabetes, increasing research and development in multifunctional ingredient and obesity cases registered in developed countries which have led to increase in focus by these economies on improved lifestyle.
The Archer Daniels Midland Company, Cargill, Inc. Kerry Group Plc, Corbion N.V, E. I. DuPont De Nemours and Company, The Archer Daniels Midland Company, Koninklijke DSM N.V., AkzoNobel N.V, Tate & Lyle Plc, Ingredion Inc., Dairy Crest Group Plc, Jungbunzlauer Suisse AG, Fenchem Biotek Ltd., etc are few of the key players in the global multifunctional food ingredient market.
Segmentation of Global Multifunctional Food Ingredients Market:
Multifunctional Food Ingredient Market by Ingredient:
- Omega-3 Fatty Acid
- Prebiotic & Dietary Fiber
Multifunctional Food Ingredient Market by Application:
- Dairy Products
- Bakery & Confectionery
Multifunctional Food Ingredient Market by Region:
- North America
- South America
- Middle East & Africa