According to a recent report by Reports and Data, the global Functional Food Ingredients for Soy Products Market is projected to attain a market size of USD 180.14 billion by 2030, with a compounded annual growth rate (CAGR) of 7.6% during the forecast period. The market growth is driven by various factors, such as the increasing consumer inclination towards healthier and fortified food products, growing awareness about the importance of maintaining good health, and a rising incidence of chronic diseases. Functional food ingredients offer additional health benefits beyond basic nutritional value obtained from food and drinks. These ingredients are used to promote better gastrointestinal health, lower cholesterol levels, prevent tooth decay, enhance bone and gut health, and prevent or treat a range of diseases. Regular consumption of functional food ingredients has been found to significantly reduce the risk of various diseases, including cardiovascular disease, cancer, diabetes, high blood pressure, rickets, and osteoporosis.
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Top Companies Operating in the Global Functional Food Ingredients for Soy Products Market Report:
Cargill, Inc., BASF SE, Archer-Daniels-Midland Company, Arla Foods amba, Kerry Group plc, Ajinomoto Co., Inc., Blattmann Schweiz AG, Ingredion Incorporated, Tate Lyle PLC, and Euroduna Food Ingredients GmbH.
Some Key Highlights From the Report
- Carotenoids segment accounted for largest revenue share in 2020. Carotenoids are protective nutrients and are naturally occurring pigments present in most plants. They are found primarily in algae, plants, and photosynthetic bacteria. However, animals and humans must rely on food to obtain these ingredients. Dietary carotenoids provide health benefits such as reduction in disease risks, mainly eye diseases and certain cancers.
- Natural segment is expected to register a significant revenue growth rate over the forecast period. Food items in their natural form are widely used due to growing consumer demand for natural components. Additionally, the market for functional food ingredients is being driven by increased health benefits associated with ingredients produced from natural sources.
- Infant food enhances a child's healthy growth and development. Inclusion of functional food ingredients in infant formula ensures that babies get enough proteins, lipids, vitamins, and minerals during their growing years.
- The market in North America is expected to account for largest revenue share in the global Functional Food Ingredients for Soy Products Market over the forecast period. Prevalence of chronic diseases as a result of busy lifestyles, as well as growing consumer awareness about health benefits of functional foods, is driving market revenue growth in the region.
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The global Functional Food Ingredients for Soy Products Market is segmented into:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Further market segmentation
Product Origin Outlook (Revenue, USD Billion; 2019-2030)
- Natural
- Synthetic
Application Outlook (Revenue, USD Billion; 2019-2030)
- Dairy Products
- Meat, Fish, and Eggs
- Soy Products
- Fats and Oils
- Bakery, Confectionery, and Cereals
- Others
Type Outlook (Revenue, USD Billion; 2019-2030)
- Prebiotics
- Probiotics
- Vitamins
- Minerals
- Omega Fatty Acids
- Hydrocolloids
- Carotenoids
- Essential Oils
- Others
Key Questions Addressed in the Report:
- What are the dominating factors that are influencing the growth of the industry?
- In the forecast period, which market segment is expected to rise the most?
- What are the risks and challenges that the industry is facing?
- In the coming years, which area is projected to dominate the market?
- Who are the major players in the market? What kind of strategic business plans have they made?
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