FUNCTIONAL FOOD INGREDIENTS MARKET GLOBAL FORECAST TO 2020
BY TYPE (PROTEIN, VITAMIN, MINERAL, PREBIOTIC & PROBIOTIC, HYDROCOLLOID, ESSENTIAL OIL, FATTY ACID, CAROTENOID), APPLICATION (FOOD & BEVERAGE), HEALTH BENEFIT (GUT, BONE, HEALTH, IMMUNITY, NUTRITION)
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REPORT CODE: FB 3559
FUNCTIONAL FOOD INGREDIENTS MARKET - GLOBAL FORECAST TO 2020
FB 3559 | 2015
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FUNCTIONAL FOOD INGREDIENTS MARKET - GLOBAL FORECAST TO 2020
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INTRODUCTION
1.1
OBJECTIVES OF THE STUDY
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To define, segment, and project the size of the functional food ingredients market (in terms of value & volume) based on its type, application, health products, and region
To provide detailed information on the main factors that influence the growth of the functional food ingredients market (drivers, restraints, opportunities, and industry-specific challenges)
To strategically analyze micromarkets1 with respect to individual growth trends, future prospects, and their contribution to the global functional food ingredients market
To analyze opportunities in the functional food ingredients market for stakeholders and study the details of a competitive landscape, to be provided to the market leaders
To project the value and volume of the market with respect to the four main regions (along with their key countries), namely, North America, Europe, Asia-Pacific, and Rest of the World (RoW)
To strategically profile the key players in the functional food ingredients market and comprehensively analyze their market shares and core competencies2
To track and analyze competitive developments, such as acquisitions, new product launch, and expansions in the functional food ingredients market
___________ 1. Micromarkets are defined as the further segments and subsegments of global functional food ingredients market included in the report. 2. Core competencies of the companies are depicted in terms of their key developments, SWOT analysis, and key strategies adopted by them to sustain their position in the market.
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MARKET DEFINITION
EC Concerted Action on Functional Food Science in Europe (FUFOSE) proposed a working definition for functional food in 2010, which is “a food that beneficially affects one or more target functions in the body beyond adequate nutritional effects in a way that is relevant to either an improved state of health and wellbeing and/or reduction of risk of disease. It is consumed as part of a normal food pattern. It is not a pill, a capsule, or any form of dietary supplement.”
1.3
STUDY SCOPE
The report covers the market for functional food ingredients, which are used in different functional products that are consumed for given health benefits.
The scope of this study includes the following:
The functional food ingredients market size, in terms of value ($million) & volume (KT), from 2013 to 2020, with CAGR (%) projection from 2015 to 2020
The functional food ingredients were selected based on secondary research. The ingredients which are extensively used in functional food were selected for the study, which include protein, vitamin, mineral, prebiotics, probiotics, hydrocolloid, oil, fatty acid, and flavonoid & carotenoid
The application of the functional food ingredients market covers functional food, such as snacks, confectionery, bakery, dairy products, breakfast cereals, and functional beverages such as dairy, energy & soft drinks, and juices
This research report categorizes the functional food ingredients market into the following segments:
1.3.1
FUNCTIONAL FOOD INGREDIENTS MARKET, BY TYPE
Proteins & amino acids
Vitamins
Minerals
Prebiotics
Probiotics
Hydrocolloids
Essential oils
Omega 3 & 6 fatty acids
Flavonoids & carotenoids
1.3.2
FUNCTIONAL FOOD INGREDIENTS MARKET, BY APPLICATION Food
Snacks
Confectionery
Bakery
Dairy products 3
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1.3.3
Breakfast cereals
Other food products
Beverage
Dairy
Energy & soft drinks
Juices
FUNCTIONAL FOOD INGREDIENTS MARKET, BY HEALTH BENEFIT
Gut health
Bone health
Heart health
Immunity
Nutrition
Weight Management
1.3.4
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FUNCTIONAL FOOD INGREDIENTS MARKET, BY REGION
North America (U.S., Canada, and Mexico)
Europe (Germany, U.K., France, Spain, Italy, and other European countries)
Asia-Pacific (China, Japan, India, and other Asia-Pacific countries)
RoW (Latin America, the Middle East, and Africa)
1.3.5
PERIODIZATION CONSIDERED FOR THE FUNCTIONAL FOOD INGREDIENTS MARKET Description
Year •
Base year is the reference year used to generate the forecast/analysis.
•
The base year considered for the report is 2014.
•
This refers to the past years taken into consideration for the future trend analysis.
•
The historical years considered for the report were 2013 and the years prior to that.
•
This refers to the future years for which the estimation or projection has been carried out.
•
The projected period considered for the report is from 2015 to 2020.
•
Base year considered in company profiles was 2014.
Base year for company profiles
•
A few companies, for which the financial data was not available for the base year, the year prior to it was considered.
Study period considered for the competitive landscape
•
Period considered for the study of competitive landscape is from January 2011 to May 2015.
Base year
Historical year
Years of projection
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CURRENCY CONSIDERED FOR THE FUNCTIONAL FOOD INGREDIENTS MARKET
The currency used in the report is U.S. dollars, with market size indicated only in terms of “$million.”
For companies reporting their revenues in U.S. dollars, revenues were taken from their annual reports.
For companies that reported their revenues in other currencies, the average currency conversion rate for the year 2014 was taken from OANDA, and was used to convert the values to U.S. dollars.
1.5
UNIT CONSIDERED FOR FUNCTIONAL FOOD INGREDIENTS MARKET
The unit considered to denote the market size in terms of volume is ‘tons’
The unit considered to denote market size in terms of volume in Health Benefits segment is ‘Kilo Tons’
1.6
LIMITATIONS
1.7
The market is limited to the most-widely used functional food ingredients; several functional food ingredients are present in the market and currently under clinical trial and laboratory research phase.
STAKEHOLDERS
Manufacturers/Suppliers
Food manufacturers & processors
Chemical industry
Research & development laboratories
Regulatory bodies
Organizations such as the Food and Drug Administration (FDA), United States Department of Agriculture (USDA), European Food Safety Agency (EFSA), EUROPA, Codex Alimetarius, and Food Safety Australia and New Zealand (FSANZ)
Government agencies
Intermediary suppliers
End users
Food & beverage manufacturers/suppliers
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RESEARCH METHODOLOGY
2.1
RESEARCH DATA
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This research study has involved the use of extensive secondary sources (directories and databases)—such as Hoovers, Forbes, Bloomberg Business, and Factiva—to identify and collect information useful for this technical, market-oriented, and commercial study of the functional food ingredients market. The primary sources that have been involved include industry experts from core and related industries and preferred suppliers, dealers, manufacturers, equipment providers, technology developers, alliances, standards & certification organizations from companies, and organizations related to all segments of this industry’s value chain. In-depth interviews have been conducted with various primary respondents, such as key industry participants, subject matter experts, C-level executives of key market players, and industry consultants to obtain and verify critical qualitative and quantitative information as well as to assess future prospects. The following figure depicts the market research methodology applied in drafting this report on the functional food ingredients market.
FIGURE 1
FUNCTIONAL FOOD INGREDIENTS MARKET: RESEARCH DESIGN
HISTORICAL DATA FOR FUNCTIONAL FOOD INGREDIENTS MARKET
EVOLUTION
SUPPLY CHAIN ANALYSIS
REGULATORY LANDSCAPE
MARKET SIZE
MARKET SHARE
MARKET INSIGHTS
COMPETITIVE LANDSCAPE
INFLUENCING FACTORS
(Market Trends and Dynamics)
GEOGRAPHIC USAGE PATTERN
MARKET DRIVERS:
MARKET RESTRAINTS:
MARKET OPPORTUNITIES:
• Growing health awareness among consumers
• Food safety concerns & regulations
• Growing demand in emerging markets
• Vulnerability to seasonal changes
• Increasing cases of chronic diseases • Rise in demand of fortified food & beverage products • R&D innovations to expand applicability & accelerate growth
MARKET CHALLENGE:
INDUSTRY TRENDS:
• Regulatory framework
• Collaborative a acquisitions & expansions among key market players
• EXPANSIONS: More than 20 expansions in the last three years
• NEW PRODUCT LAUNCHES: More than 10 new product
GEOGRAPHIC ANALYSIS
launches in the last three years
MARKET SIZE & FORECAST:
HISTORICAL DATA OF THE MARKET
• By Type • By Application
FORECAST
• By Health Benefit
IMPACT ANALYSIS OF MARKET TRENDS
• By Region
Arrive at the Market Size, Share, and CAGR of the Functional Food Ingredients Market
Source: Industry Experts, USDA, Research Journals, Technology Journals, Publications, and MarketsandMarkets Analysis
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2.1.1
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SECONDARY DATA
In the secondary research process, sources such as annual reports, press releases & investor presentations of companies, white papers, certified publications, articles from recognized authors, gold standard & silver standard websites, food safety organizations, regulatory bodies, trade directories, and databases have been used to identify and collect information for this study. Secondary research has been used to obtain key information about the industry’s supply chain, the market’s monetary chain, the total pool of key players, market classification, and segmentation according to industry trends to the bottom-most level, geographic markets, and key developments in the functional food ingredients market from both manufacturers and end-use application perspective.
2.1.1.1
Key Data from Secondary Sources SOURCES
PARAMETERS
MARKET SIZE (Value)
REVENUE OF COMPANIES
QUALITATIVE INFORMATION (Market Dynamics, Market Trends)
• • • • • •
Company Financials & Presentations Food Industry Magazines Food Journals Company Press Releases Public Databases (COMTRADE, FAO, WITS) The MarketsandMarkets Data Repository
• • • • • •
Annual Reports & 10-K Form Investor Presentations Company Websites Public Databases (Forbes) Paid Databases (Factiva) The MarketsandMarkets Data Repository
• • • • • •
Company Websites Annual Reports White Papers Published Expert Interviews Press Releases The MarketsandMarkets Data Repository
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2.1.2
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PRIMARY DATA
The market comprises several stakeholders in the supply chain, which include suppliers, processors, and end-product manufacturers. Various primary sources from both supply and demand sides of both markets have been interviewed to obtain qualitative and quantitative information. The primary interviewees from the demand side include key opinion leaders, executives, vice presidents, and CEOs of the F&B industry. The primary sources from the supply side include research institutions involved in the R&D to introduce new types of functional food ingredients and application, key opinion leaders, and processing players.
2.1.2.1
Key Data from Primary Sources
TYPES
KEY DATA
PARAMETERS
Global Market, by Region •
North America, Europe, Asia-Pacific, Latin America, RoW
Global Market, by Type FUNCTIONAL FOOD INGREDIENTS MARKET
Global Market Size from 2013 to 2020
•
Global Market Size, in Terms of Value ($million) CAGR of Market in Each Region for Forecast Period (2015–2020)
Proteins & Amino acids, Vitamins, Minerals, Prebiotics, Probiotics, Hydrocolloids, Essential oils, Omega 3 & 6 fatty acids, Carotenoids
Global Market, by Applications •
Food and Beverage
Global Market, by Health Benefit •
Gut Health, Bone Health, Heart Health, Immunity, Weight Management
Global Market, by Brand Drivers Restraints MARKET INSIGHTS
Opportunities
Market Dynamics
Challenges & issues Supply chain & distribution
MARKET TRENDS
Key players
Market Forecast
Most-preferred strategies
Developments
Key market for growth in subsequent five years
Key Players
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2.1.2.2
Key Industry Insights
2.1.2.3
Breakdown of Primaries
BY COMPANIES
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BY DESIGNATION
BY REGION
20.0%
20.0% 40.0%
60.0%
40.0%
20.0%
40.0%
20.0%
20.0%
Tier-2
Tier-1
Others
C-level
Director-level
20.0%
Others
Asia-Pacific
North America
Europe
RoW
Note: *Others include sales managers, marketing managers, and product managers The three tiers of the companies are defined on the basis of their total revenue; as of 2013, tier 1 = > $7 billion, tier 2 = $500 Million–$7 billion, and tier 3 = < $500 million
After the complete market engineering (calculations for market statistics, market breakdown, market size estimations & projections, and data triangulation), extensive primary research has been conducted to gather information and verify & validate the critical numbers that were arrived at. Primary research has also been conducted to identify the segmentation types, industry trends, Porter’s Five Forces analysis, key players, competitive landscape of market players that supply different types of functional food ingredients, and key market dynamics such as drivers, restraints, opportunities, challenges, industry trends, and key player strategies. In the complete market engineering process, both the “top-down” and “bottom-up” approaches have been extensively used, along with the data triangulation method to estimate and project the market size for each of their segments and sub-segments listed in this report. Extensive qualitative and quantitative analysis has been performed on the complete market engineering process to list key information and insights throughout the report.
2.2
VARIABLES CONSIDERED FOR FACTOR ANALYSIS
2.2.1
INTRODUCTION
The description and analysis of a market define the structure and restrictions of the potential market analysis through supply- and demand-side factors. The methods used for the analysis of market data, estimation of market sizes, and their growth patterns include the study of demand-side drivers and the factors influencing the supply side of the market. The influencing factors include the political environment, overall economic & market conditions, which are not limited to historical trends, seasonal effects, or business cycles. For this report, statistical/quantitative techniques have been used to estimate the impact of demand- and supply-side variables to arrive at the size of the market during the projected period. Statistical techniques have been used to primarily understand the correlation of the demand and supply variables with the 9
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studied market, and assign weightages to these variables to develop a model for forecasting market numbers. Wherever such analyses were not feasible due to a lack of availability of data and other statistical/quantitative limitations, inferences have been made using judgmental forecasting techniques.
2.2.2
OVERVIEW OF PARENT INDUSTRY
The definition of health is no longer restricted to infirmity, but it includes physical as well as mental & psychological well-being. Any food that provides nutrients and has a physiological effect on the human body is called functional food. Functional food contains significant levels of natural extracts, concentrates, or natural ingredients, which are extracted from natural sources. During the past decades, the market for functional food ingredients has been driven by changing lifestyles and increasing incidences of chronic diseases. It also serves the need of the aging population who demand greater control over their health and well-being. The key factors that influence the parent industry are listed below:
FIGURE 2
IMPACT OF KEY FACTORS INFLUENCING THE PARENT INDUSTRY DESCRIPTION
FACTOR
•
Increasing Gross Domestic Product (GDP) and Purchasing Power Parity (PPP) Growing consumer income and disposable income
Technology
• • •
Automatic primary processing equipment Time- and cost-effective production Increase in output
Globalization
• • •
Increasing consumer awareness Demand for healthy and quality products Demand for value-added products
• •
Regulations on standard food practices Food Standard Agency (FSA) and European Food and Safety Association (EFSA)
• •
Increase in demand for healthy food Increase in demand for functional food
• Economic Development
Government & Regulatory Bodies
Population
Source: USDA, EFSA, IFT, FAO, and FDA
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2.2.3
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DEMAND-SIDE ANALYSIS
Specific macro indicators and exogenous variables (variables that do not influence the concerned market directly) are considered for the demand-side analysis. Common demand-side variables that drive the market at the aggregate level are economic growth (GDP) of a country/region, seasonal trends in the foreign exchange market, nature of the corresponding economic sector, growth of the parent market growth, and demographic/political factors.
The demand-side variables that have been considered in the study of this market include the following:
Rising population
GDP
The estimations, however, are made with the assumption that the regions studied will remain stable in terms of economic conditions and do not factor in any significant aberrance from the projected economic growth of the studied regions/countries.
2.2.3.1
Rising population
According to the United Nations Department of Economic and Social Affairs/Population Division and World Population, the global population is projected to increase from 6.9 billion in 2010 to about 9.5 billion by 2050. Asia is projected to contribute the largest share over the few years; however, this is projected to reduce by 2050.
FIGURE 3
GLOBAL POPULATION IS PROJECTED TO REACH ~9.5 BILLION BY 2050
12,000
Population (Million)
10,000 8,000 6,000 4,000
2,525.8
3,026.0
4,449.0 3,691.2
5,320.8
6,916.2 6,127.7
7,716.7
8,424.9
9,038.7
9,550.9
2,000 0 1950 Africa
1960
1970
The Americas
1980
1990
Asia
2000 Europe
2010
2020
Oceania
2030 RoW
2040
2050 Global
Source: United Nations Department of Economic and Social Affairs/Population Division and World Population Prospects
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Increase in Middle-class Population, 2009–2030
International development organizations such as OECD and investment banks predict the following:
Increase in the number of middle-class consumers
Highest growth is estimated in the Asia-Pacific countries
Huge investment opportunities are estimated in the emerging markets of Asia-Pacific
According to Asian Development Bank, “China’s middle-class population is estimated to increase from about 16% of the population in 2010 to 83% in 2030”
The increase in income among the middle-class population is estimated to drive the demand for processed food and value-added products, such as breakfast cereals, confectionery products, energy drinks, fruit juices, and fortified ready-to-eat products.
2.2.3.2
Developing Economies, GDP, 2013
The development of economies plays an essential role in driving the demand for fruit & vegetable ingredients in the global market. The key parameters that determine the growth in the consumption of processed food in developing economies are the disposable income—which drives changes in eating habits—and purchasing power parity of the population. The growing GDP in emerging markets such as China and India is estimated to drive the demand for processed and convenience food products. According to the Asian Development Bank, the GDPs of India and China were approximately $4,990 billion and $13,390 billion in 2013, respectively. On the same note, the GDP of Japan was $4,729 billion in 2013.
2.2.4
SUPPLY-SIDE ANALYSIS
In most cases, industry-specific micro indicators and endogenous variables (factors determined by the state of other variables in the model) are considered. Common factors that drive the market at a local level are raw material prices (fluctuation), prices of competitive/substitute products, sales strategies, economies of scale, specialization advantages, and business law & regulations.
The supply-side variables that have been considered in the study of this market include the following:
List of regulatory bodies for functional food in different countries
Food processing equipment and technologies
The estimations, however, assume that the regions studied will remain stable in terms of economic conditions and do not factor any significant deviation from the projected economic growth of the studied regions/countries.
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List of Regulatory Bodies and Organizations in Different Countries Country
Body
Canada
Health Canada
Japan
Food for Specified Health Uses (FOSHU)
U.S.
European Union countries*
•
The U.S. Food and Drug Administration (FDA)
•
International Food Information Council (IFIC)
•
American Dietetic Association (ADA)
•
Institute of Food Technologists (IFT)
•
European Commission Concerted on Functional Food Science in Europe (FUFOSE)
•
European Union Food Safety Authority (EUFSA)
Australia & New Zealand
Food Standards Australia New Zealand (FSANZ)
India
Ministry of Women and Child Development, Government of India
Korea
Ministry of Health and Welfare, Korea
Note: *Most countries in the EU use the EU definition but may have different policies on regulations and product approval Source: Industry-related Article
According to the European Union in 1999, a food is regarded as functional if “it is satisfactorily demonstrated to affect beneficially one or more target functions in the body, beyond adequate nutritional effects in a way, that is relevant to either an improved state of health and well-being or reduction of risk of disease.“
2.2.4.2
Technologies
The demand for functional food ingredients is driven by the rising demand for healthy convenience food, consumer demand for value-added products and the growing consumer concerns for value added food products. As the demand for functional food ingredients is increasing, technology providers are also introducing new technologies and equipment to incorporate these ingredient manufacturers. This trend has led key players such as Tate & Lyle (U.K.), Ingredion Corporation (U.S.), TIC Gums Corporation (U.S.), and Cargill, Incorporated (U.S.) to increase production, which can be met by using automated systems such as stabilizer and emulsifier systems. For example, in 2011, Cargill, Incorporated introduced Vitex AYS stabilizer, a new functional system to help dairy food makers contain costs to manage raw material costs in yogurt while still providing consumers with the same creamy products they expect. In 2015, TIC Gums Incorporation (U.S.) introduced Dairyblend YG AG to stabilize spoonable yogurts, drinkable yogurts, and smoothies. The demand for automated and integrated equipment by companies is further driven by the following factors:
Growing need to increase the production of functional food products
Need to meet quality standards imposed by regulatory bodies, such as the FDA, FSA, EFSA, and FSANZ
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MARKET SIZE ESTIMATION
Both, top-down and bottom-up approaches have been used to estimate and validate the total size of the functional food ingredients market. These approaches have also been used extensively to estimate the size of various sub-segments in the market. The research methodology used to estimate the market size includes the following details:
The key players in the industry and markets have been identified through extensive secondary research.
The functional food ingredients industry’s value chain and market size, in terms of value, have been determined through primary and secondary research.
All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
All the possible parameters that affect the market covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to obtain the final quantitative and qualitative data.
Secondary research included the study of reports, reviews, and newsletters of top market players, along with extensive interviews for key opinions from leaders, such as CEOs, directors, and marketing executives.
Given below is an illustration of the overall market size estimation process employed for the purpose of this study.
FIGURE 4
MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH
Total Market Size ($Million) = North America+ Europe+ …
Total Market Size ($Million) Functional Food Ingredients, By Health Benefit
PRIMARY SOURCES: Demand and Supply Side Experts
Functional Food Ingredients, By Region
SECONDARY SOURCES: Company Websites, Annual Reports, Presentations, Press Releases, Journals, Paid Databases, FAO, COMTRADE, WITS,
Functional Food Ingredients, By Application
and MarketsandMarkets Repository
Regional Mapping of Functional Food Ingredients
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FIGURE 5
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MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH
The Global Market Size is Validated Through Primaries
Total functional food ingredients market size ($Million)
(Demand & Supply Side Experts)
Percentage split of each type of functional food ingredients Volume (Tons) of functional food ingredients (for data triangulation and verification )
PRIMARY SOURCES: Demand and Supply Side Experts
Geographical split
SECONDARY SOURCES: Annual Reports, Presentations, Press Releases, FAO, COMTRADE, Company Websites, WITS, Paid Databases, and MarketsandMarkets Repository
Regional and country-wise market for each subsegment
Calculations based on the financial data of key companies identified for functional food ingredients in each region (North America, Europe, Asia-Pacific, and RoW) have been used to determine the overall market size. The overall market size has been used in the top-down procedure to estimate the sizes of other individual markets (mentioned in the market segmentation of product type) via percentage splits from secondary and primary research. The export and import data for functional food ingredients have been determined using databases, such as FAOSTAT, EUROSTAT, and OECD. The data obtained has been further validated by conducting primary interviews with industry experts, key suppliers, and dealers in the market. With the data triangulation procedure and validation of data through primaries, the exact values of the overall parent market size and each individual market size have been determined and confirmed. Market shares have been estimated for each company to verify the shares, in terms of value, used earlier in the bottom-up procedure.
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MARKET BREAKDOWN & DATA TRIANGULATION
After arriving at the overall market sizes—using the market size estimation processes as explained above— the market was split into several segments and sub-segments. In order to complete the overall market engineering process and arrive at the exact statistics of each market segment and sub-segment, the data triangulation and market breakdown procedures have been employed, wherever applicable. The data has been triangulated by studying various factors and trends from both, the demand and supply sides, in the nutraceuticals, functional food, and functional food ingredients industries. The market size has been validated using the top-down and bottom-up approaches.
FIGURE 6
DATA TRIANGULATION METHODOLOGY PRIMARY SOURCES
SECONDARY SOURCES
DEMAND SIDE
INTERVIEWS WITH: • Chief information officers • Research officers & purchase managers in processed food & beverage manufacturing companies
•
Annual reports, presentations, websites of the key players
•
Press releases and news articles
•
Journals, industry-related books, and paid databases
MnM KNOW*
INTERVIEWS WITH: • Vice presidents
SUPPLY SIDE
• Marketing directors
PRIMARY SOURCE
DATA TRIANGULATION
• Research officers & purchase managers in the food & beverage companies
SECONDARY SOURCE
• Technology and innovation directors and related key executives from various key companies and organizations operating in the market
Key Players
•
FAO
•
USDA
•
EUROPA
•
USFDA
INFORMATION SOURCED
Competitive Landscape
Influencing Factors
Opportunities/ Challenges
Market Estimates
Market Size and Market Share (2014) Geographical Analysis
MnM KNOW* stands for MarketsandMarkets’ 'Knowledge Asset Management' framework. In this context, it stands for existing market research knowledge repository of over 5,000 granular markets, our flagship competitive intelligence and market research platform "RT", subject matter experts, and independent consultants. MnM KNOW acts as an independent source that helps us validate information gathered from primary and secondary sources .
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MARKET SHARE ESTIMATION
The market shares of functional food ingredients manufacturers have been arrived at on the basis of secondary data available through paid and unpaid sources and by analyzing product portfolios of the key companies and rating them on the basis of performance and quality. These data points have been further validated by primary sources.
2.6
RESEARCH ASSUMPTIONS & LIMITATIONS
2.6.1
ASSUMPTIONS OF THE RESEARCH STUDY
The following assumptions have been taken into consideration to complete the overall market engineering process of the functional food ingredients market.
FIGURE 7
ASSUMPTIONS OF THE RESEARCH STUDY
PARAMETERS
ECONOMIC STABILITY
ASSUMPTIONS A positive economic climate is assumed in emerging markets, such as China, Indonesia, and the Middle East by 2020 The growing economy is estimated to attract key companies in the market
EXCHANGE RATE & INFLATION
Average USD exchange rates of all foreign currencies have been considered for 2014 Inflation was not considered for pricing
PRICING TREND
Prices have been assumed to be constant for the studied countries in the same region. The revenue and volume figures are rounded-off at subsequent levels A stable political environment is assumed for key regions
POLITICAL STABILITY
Moreover, political tension in a few countries such as Iraq and Libya is assumed to have little effect on the global economic stability The functional food ingredients market is assumed to grow despite a few political debates
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2.6.2 FIGURE 8
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LIMITATIONS OF THE RESEARCH STUDY LIMITATIONS OF THE RESEARCH STUDY
PARAMETERS
PRIMARY SOURCES, BY KEY PLAYER
LIMITATIONS The quantitative information for some of the market segments is kept confidential by industry players. Hence, qualitative insights gathered during the course of the study have been used to arrive at the market size for such sub-segments. There are a limited number of industry experts in Latin America and Africa.
PRIMARY SOURCES, BY REGION
In such cases, the regional market size is derived using weightages assigned to these markets based on the qualitative insights from global industry experts, and typical technology adoption trends observed in these regional markets.
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TABLE OF CONTENTS 1
2
INTRODUCTION ........................................................................................................ 17 1.1
OBJECTIVES OF THE STUDY ...........................................................................................................17
1.2
MARKET DEFINITION.....................................................................................................................18
1.3
STUDY SCOPE ..............................................................................................................................18 1.3.1
FUNCTIONAL FOOD INGREDIENTS MARKET, BY TYPE ....................................................... 18
1.3.2
FUNCTIONAL FOOD INGREDIENTS MARKET, BY APPLICATION .......................................... 18
1.3.3
FUNCTIONAL FOOD INGREDIENTS MARKET, BY HEALTH BENEFIT ..................................... 19
1.3.4
FUNCTIONAL FOOD INGREDIENTS MARKET, BY REGION .................................................. 19
1.3.5
PERIODIZATION CONSIDERED FOR THE FUNCTIONAL FOOD INGREDIENTS MARKET ......................................................................................................................... 19
1.4
CURRENCY CONSIDERED FOR THE FUNCTIONAL FOOD INGREDIENTS MARKET ..............................20
1.5
UNIT CONSIDERED FOR FUNCTIONAL FOOD INGREDIENTS MARKET ...............................................20
1.6
LIMITATIONS ................................................................................................................................20
1.7
STAKEHOLDERS ...........................................................................................................................20
RESEARCH METHODOLOGY ...................................................................................... 21 2.1
RESEARCH DATA ..........................................................................................................................21 2.1.1
SECONDARY DATA.......................................................................................................... 22 2.1.1.1
2.1.2
2.2
Key Data from Secondary Sources...................................................................... 22
PRIMARY DATA ............................................................................................................... 23 2.1.2.1
Key Data from Primary Sources .......................................................................... 23
2.1.2.2
Key Industry Insights.......................................................................................... 24
2.1.2.3
Breakdown of Primaries ..................................................................................... 24
VARIABLES CONSIDERED FOR FACTOR ANALYSIS .........................................................................24 2.2.1
INTRODUCTION .............................................................................................................. 24
2.2.2
OVERVIEW OF PARENT INDUSTRY ................................................................................... 26
2.2.3
DEMAND-SIDE ANALYSIS ............................................................................................... 27 2.2.3.1
Rising population .............................................................................................. 27
2.2.3.1.1 2.2.3.2 2.2.4
Increase in Middle-class Population, 2009–2030 ............................... 28
Developing Economies, GDP, 2013 ................................................................... 28
SUPPLY-SIDE ANALYSIS ................................................................................................. 28 2.2.4.1
List of Regulatory Bodies and Organizations in Different Countries ...................... 29
2.2.4.2
Technologies ..................................................................................................... 29
2.3
MARKET SIZE ESTIMATION ............................................................................................................30
2.4
MARKET BREAKDOWN & DATA TRIANGULATION ............................................................................32
2.5
MARKET SHARE ESTIMATION ........................................................................................................33
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3
4
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RESEARCH ASSUMPTIONS & LIMITATIONS ...................................................................................33 2.6.1
ASSUMPTIONS OF THE RESEARCH STUDY ....................................................................... 33
2.6.2
LIMITATIONS OF THE RESEARCH STUDY .......................................................................... 34
EXECUTIVE SUMMARY .............................................................................................. 35 3.1
OVERVIEW ....................................................................................................................................35
3.2
FUNCTIONAL FOOD INGREDIENTS .................................................................................................36
3.3
ASIA-PACIFIC IS THE FASTEST-GROWING MARKET FOR FUNCTIONAL FOOD INGREDIENTS ...............................................................................................................................38
PREMIUM INSIGHTS ................................................................................................ 40 4.1
ATTRACTIVE OPPORTUNITIES IN THE FUNCTIONAL FOOD INGREDIENTS MARKET ............................40
4.2
FUNCTIONAL FOOD INGREDIENTS MARKET, BY APPLICATION ........................................................41
4.3
FUNCTIONAL FOOD INGREDIENTS MARKET IN THE ASIA-PACIFIC REGION ......................................42
4.4
U.S. DOMINATED THE OVERALL FUNCTIONAL FOOD INGREDIENTS MARKET IN 2014 ......................43
4.5
FUNCTIONAL FOOD INGREDIENTS MARKET, BY TYPE, 2014 ...........................................................44
4.6
FUNCTIONAL FOOD INGREDIENTS MARKET: DEVELOPED VS. EMERGING MARKETS........................45
4.7
PROTEINS & AMINO ACIDS ACCOUNTED FOR THE LARGEST SHARE IN THE FUNCTIONAL FOOD INGREDIENTS MARKET IN 2014 ..........................................................................................46
4.8
FUNCTIONAL FOOD INGREDIENTS MARKET LIFE CYCLE ANALYSIS, BY REGION ...............................47
MARKET OVERVIEW.................................................................................................. 48 5.1
5.2
5.3
INTRODUCTION ............................................................................................................................49 5.1.1
EVOLUTION OF FUNCTIONAL FOOD MARKET .................................................................... 49
5.1.2
MARKET INSIGHTS ......................................................................................................... 50
MARKET SEGMENTATION ..............................................................................................................51 5.2.1
BY TYPE .......................................................................................................................... 51
5.2.2
BY APPLICATION............................................................................................................. 52
5.2.3
BY HEALTH BENEFIT........................................................................................................ 52
5.2.4
BY REGION ..................................................................................................................... 53
MARKET DYNAMICS......................................................................................................................54 5.3.1
5.3.2
5.3.3
DRIVERS ........................................................................................................................ 55 5.3.1.1
Increasing Cases of Chronic Diseases ................................................................ 55
5.3.1.2
Growing Health Awareness Among Consumers ................................................... 56
5.3.1.3
Rise in Demand for Fortified Food & Beverage Products...................................... 56
5.3.1.4
R&D and Innovations to Expand Applicability & ACCELERATE Growth.................. 57
RESTRAINTS................................................................................................................... 57 5.3.2.1
Food Safety Concerns & Regulations ................................................................. 57
5.3.2.2
Vulnerability to Seasonal Changes ..................................................................... 58
OPPORTUNITY ................................................................................................................ 59 5.3.3.1
Growing Demand in Emerging Economies........................................................... 59 20
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CHALLENGE ................................................................................................................... 59 5.3.4.1
6
6.1
INTRODUCTION ............................................................................................................................60
6.2
SUPPLY CHAIN ANALYSIS .............................................................................................................60
6.3
RECENT TRENDS ..........................................................................................................................61
6.4
PORTER’S FIVE FORCES ANALYSIS ................................................................................................62 6.4.1
INTENSITY OF COMPETITIVE RIVALRY .............................................................................. 63
6.4.2
BARGAINING POWER OF SUPPLIERS .............................................................................. 63
6.4.3
BARGAINING POWER OF BUYERS ................................................................................... 64
6.4.4
THREAT OF SUBSTITUTES................................................................................................ 64
6.4.5
THREAT OF NEW ENTRANTS ............................................................................................ 64
STRATEGIC BENCHMARKING ........................................................................................................65 6.5.1
NEW PRODUCT LAUNCHES & EXPANSIONS ..................................................................... 66
FUNCTIONAL FOOD INGREDIENTS MARKET, BY TYPE ................................................. 67 7.1
8
Regulatory Framework ....................................................................................... 59
INDUSTRY TRENDS .................................................................................................. 60
6.5
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INTRODUCTION ............................................................................................................................68 7.1.1
PROTEINS & AMINO ACIDS ............................................................................................. 71
7.1.2
VITAMINS ....................................................................................................................... 74
7.1.3
MINERALS ..................................................................................................................... 75
7.1.4
PREBIOTICS ................................................................................................................... 78
7.1.5
PROBIOTICS................................................................................................................... 79
7.1.6
HYDROCOLLOIDS ........................................................................................................... 81
7.1.7
ESSENTIAL OILS ............................................................................................................. 83
7.1.8
OMEGA 3 & 6 FATTY ACIDS ............................................................................................. 84
7.1.9
CAROTENOIDS ............................................................................................................... 85
FUNCTIONAL FOOD INGREDIENTS MARKET, BY APPLICATION .................................... 87 8.1
INTRODUCTION ............................................................................................................................88
8.2
FOODS .........................................................................................................................................89
8.3
8.2.1
SNACKS ......................................................................................................................... 91
8.2.2
BAKERY ......................................................................................................................... 91
8.2.3
CONFECTIONERY ............................................................................................................ 91
8.2.4
DAIRY PRODUCTS .......................................................................................................... 92
8.2.5
OTHER FOOD PRODUCTS ................................................................................................ 92
BEVERAGE ...................................................................................................................................93 8.3.1
DAIRY ............................................................................................................................ 94
8.3.2
ENERGY & SOFT DRINKS ................................................................................................ 94
8.3.3
JUICES ........................................................................................................................... 95
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FUNCTIONAL FOOD INGREDIENTS MARKET, BY HEALTH BENEFIT ............................... 96 9.1
INTRODUCTION ............................................................................................................................97
9.2
GUT HEALTH .................................................................................................................................99
9.3
HEART HEALTH .............................................................................................................................99
9.4
BONE HEALTH ........................................................................................................................... 100
9.5
IMMUNITY ................................................................................................................................. 100
9.6
NUTRITION ................................................................................................................................ 101
9.7
WEIGHT MANAGEMENT.............................................................................................................. 101
10 ORGANIZATIONS GOVERNING THE FUNCTIONAL FOOD INGREDIENTS MARKET ........ 102 10.1
OVERVIEW ................................................................................................................................. 102
10.2
NORTH AMERICA ....................................................................................................................... 102 10.2.1
CANADA.......................................................................................................................102
10.2.2
U.S. .............................................................................................................................102
10.3
EUROPEAN UNION (EU).............................................................................................................. 103
10.4
ASIA-PACIFIC ............................................................................................................................ 103
10.5
10.4.1
JAPAN ..........................................................................................................................103
10.4.2
INDIA ...........................................................................................................................103
10.4.3
AUSTRALIA & NEW ZEALAND ........................................................................................103
REST OF THE WORLD ................................................................................................................. 103 10.5.1
BRAZIL .........................................................................................................................103
11 FUNCTIONAL FOOD INGREDIENTS MARKET, BY BRAND ........................................... 104 11.1
INTRODUCTION ......................................................................................................................... 104 11.1.1
PROLIA ........................................................................................................................104
11.1.2
PROSANTE ...................................................................................................................104
11.1.3
VIATECH .......................................................................................................................104
11.1.4
NOVASOY .....................................................................................................................104
11.1.5
ARCON S......................................................................................................................104
11.1.6
NOVALIPID ...................................................................................................................104
11.1.7
CAPMUL ......................................................................................................................104
11.1.8
PURECO .......................................................................................................................105
11.1.9
GRINDSTED .................................................................................................................105
11.1.10
QUALI ..........................................................................................................................105
11.1.11
LACPRODAN ................................................................................................................105
11.1.12
CLARIA ........................................................................................................................105
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12 FUNCTIONAL FOOD INGREDIENTS MARKET, BY REGION .......................................... 106 12.1
INTRODUCTION ......................................................................................................................... 107
12.2
NORTH AMERICA ....................................................................................................................... 109
12.3
12.4
12.5
12.2.1
U.S. .............................................................................................................................113
12.2.2
CANADA.......................................................................................................................115
12.2.3
MEXICO .......................................................................................................................118
EUROPE .................................................................................................................................... 120 12.3.1
U.K. .............................................................................................................................124
12.3.2
GERMANY ....................................................................................................................126
12.3.3
FRANCE .......................................................................................................................129
12.3.4
ITALY............................................................................................................................131
12.3.5
REST OF EUROPE .........................................................................................................134
ASIA-PACIFIC ............................................................................................................................ 136 12.4.1
CHINA ..........................................................................................................................140
12.4.2
JAPAN ..........................................................................................................................143
12.4.3
INDIA ...........................................................................................................................145
12.4.4
AUSTRALIA...................................................................................................................148
12.4.5
REST OF THE ASIA-PACIFIC ...........................................................................................151
REST OF THE WORLD (ROW) ....................................................................................................... 154 12.5.1
BRAZIL .........................................................................................................................157
12.5.2
REST OF THE COUNTRIES ..............................................................................................159
13 COMPETITIVE LANDSCAPE ..................................................................................... 162 13.1
OVERVIEW ................................................................................................................................. 162
13.2
MARKET SHARE ANALYSIS OF FUNCTIONAL FOOD INGREDIENTS MARKET .................................. 163
13.3
COMPETITIVE SITUATION & TRENDS FOR THE FUNCTIONAL FOOD INGREDIENTS MARKET .................................................................................................................................... 164 13.3.1
NEW PRODUCT LAUNCHES ...........................................................................................166
13.3.2
EXPANSIONS & INVESTMENTS......................................................................................167
13.3.3
ACQUISITIONS .............................................................................................................168
13.3.4
AGREEMENTS ..............................................................................................................169
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14 COMPANY PROFILES .............................................................................................. 170 (Company at a Glance, Business Overview, Product Offerings, Key Strategy, Recent Developments, SWOT Analysis & MNM View)*
14.1
INTRODUCTION ......................................................................................................................... 170 14.1.1
GEOGRAPHIC REVENUE MIX .........................................................................................170
14.2
CARGILL, INCORPORATED ......................................................................................................... 171
14.3
ARCHER DANIELS MIDLAND COMPANY ...................................................................................... 175
14.4
ASSOCIATED BRITISH FOODS PLC.............................................................................................. 180
14.5
E. I. DU PONT DE NEMOURS AND COMPANY ............................................................................... 184
14.6
KERRY GROUP PLC .................................................................................................................... 189
14.7
KONINKLIJKE DSM N.V. ............................................................................................................. 193
14.8
BASF SE .................................................................................................................................... 197
14.9
INGREDION INCORPORATED ...................................................................................................... 199
14.10
ARLA FOODS ............................................................................................................................. 201
14.11
TATE & LYLE PLC ........................................................................................................................ 203
*Details on company at a glance, recent financials, products & services, strategies & insights, & recent developments might not be captured in case of unlisted companies.
15 APPENDIX .............................................................................................................. 206 15.1
INSIGHTS OF INDUSTRY EXPERTS .............................................................................................. 206
15.2
DISCUSSION GUIDE .................................................................................................................. 207
15.3
AVAILABLE CUSTOMIZATIONS .................................................................................................... 210
15.4
RELATED REPORTS .................................................................................................................... 211
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LIST OF TABLES U
TABLE 1
RECOMMENDED DIETARY ALLOWANCES (RDAS) FOR CALCIUM
57
TABLE 2
RECOMMENDED DIETARY ALLOWANCES (RDAS) FOR VITAMIN A
58
TABLE 3
RECOMMENDED DIETARY ALLOWANCES (RDAS) FOR VITAMIN E
58
TABLE 4
FUNCTIONAL FOOD INGREDIENTS MARKET SIZE, BY TYPE, 2013–2020 ($MILLION)
68
TABLE 5
FUNCTIONAL FOOD INGREDIENTS MARKET SIZE, BY TYPE, 2013–2020 (TONS)
70
TABLE 6
RECOMMENDED DIETARY ALLOWANCES (RDA) FOR PROTEINS IN DIFFERENT AGE GROUPS
72
TABLE 7
FUNCTIONS OF PROTEIN
72
TABLE 8
PROTEINS & AMINO ACIDS MARKET SIZE, BY REGION, 2013–2020 ($MILLION)
73
TABLE 9
PROTEINS & AMINO ACIDS MARKET SIZE, BY REGION, 2013–2020 (TONS)
73
TABLE 10
FAT-SOLUBLE & WATER-SOLUBLE VITAMINS
74
TABLE 11
VITAMINS MARKET SIZE, BY REGION, 2013–2020 ($MILLION)
74
TABLE 12
VITAMINS MARKET SIZE, BY REGION, 2013–2020 (TONS)
75
TABLE 13
MACRO MINERALS & THEIR FUNCTIONS
76
TABLE 14
MICRO MINERALS & THEIR FUNCTIONS
76
TABLE 15
MINERALS MARKET SIZE, BY REGION, 2013–2020 ($MILLION)
77
TABLE 16
MINERALS MARKET SIZE, BY REGION, 2013–2020 (TONS)
77
TABLE 17
PREBIOTIC COMPONENTS & THEIR BENEFITS
78
TABLE 18
PREBIOTICS MARKET SIZE, BY REGION, 2013–2020 ($MILLION)
78
TABLE 19
PREBIOTICS MARKET SIZE, BY REGION, 2013–2020 (TONS)
79
TABLE 20
PROBIOTIC COMPONENTS & THEIR BENEFITS
80
TABLE 21
PROBIOTICS MARKET SIZE, BY REGION, 2013–2020 ($MILLION)
80
TABLE 22
PROBIOTICS MARKET SIZE, BY REGION, 2013–2020 (TONS)
80
TABLE 23
HYDROCOLLOIDS: FUNCTIONS & APPLICATIONS
81
TABLE 24
HYDROCOLLOIDS MARKET SIZE, BY REGION, 2013–2020 ($MILLION)
82
TABLE 25
HYDROCOLLOIDS MARKET SIZE, BY REGION, 2013–2020 (TONS)
83
TABLE 26
ESSENTIAL OILS MARKET SIZE, BY REGION, 2013–2020 ($MILLION)
83
TABLE 27
ESSENTIAL OILS MARKET SIZE, BY REGION, 2013–2020 (TONS)
84
TABLE 28
OMEGA 3 & 6 FATTY ACIDS MARKET SIZE, BY REGION, 2013–2020 ($MILLION)
84
TABLE 29
OMEGA 3 & 6 FATTY ACIDS MARKET SIZE, BY REGION, 2013–2020 (TONS)
85
TABLE 30
CAROTENOIDS MARKET SIZE, BY REGION, 2013–2020 ($MILLION)
86
TABLE 31
CAROTENOIDS MARKET SIZE, BY REGION, 2013–2020 (TONS)
86
TABLE 32
FUNCTIONAL INGREDIENTS MARKET SIZE, BY APPLICATION, 2013–2020 ($MILLION)
88
TABLE 33
FUNCTIONAL INGREDIENTS MARKET SIZE, BY APPLICATION, 2013–2020 (TONS)
88
TABLE 34
FUNCTIONAL FOOD INGREDIENTS MARKET SIZE, BY TYPE, 2013–2020 ($MILLION)
90
TABLE 35
FUNCTIONAL FOOD INGREDIENTS MARKET SIZE, BY TYPE, 2013–2020 (TONS)
90
TABLE 36
FUNCTIONAL BEVERAGE INGREDIENTS MARKET SIZE, BY TYPE, 2013–2020 ($MILLION)
93
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TABLE 37
FUNCTIONAL BEVERAGE INGREDIENTS MARKET SIZE, BY TYPE, 2013–2020 (TONS)
94
TABLE 38
FUNCTIONAL FOOD INGREDIENTS MARKET SIZE, BY HEALTH BENEFIT, 2013–2020 ($MILLION)
98
TABLE 39
FUNCTIONAL FOOD INGREDIENTS MARKET SIZE, BY HEALTH BENEFIT, 2013–2020 (KT)
98
TABLE 40
BONE-BUILDING NUTRIENTS & THEIR THERAPEUTIC RANGE
100
TABLE 41
FUNCTIONAL FOOD INGREDIENTS MARKET SIZE, BY REGION, 2013–2020 ($MILLION)
107
TABLE 42
FUNCTIONAL FOOD INGREDIENTS MARKET SIZE , BY REGION, 2013–2020 (TONS)
108
TABLE 43
FUNCTIONAL BEVERAGE INGREDIENTS MARKET SIZE, BY REGION, 2013–2020 ($MILLION)
108
TABLE 44
FUNCTIONAL BEVERAGE INGREDIENTS MARKET SIZE , BY REGION, 2013–2020 (TONS)
109
TABLE 45
NORTH AMERICA: FUNCTIONAL FOOD INGREDIENTS MARKET SIZE, BY COUNTRY, 2013–2020 ($MILLION)
111
TABLE 46
NORTH AMERICA: FUNCTIONAL FOOD INGREDIENTS MARKET SIZE, BY COUNTRY, 2013–2020 (TONS)
111
TABLE 47
NORTH AMERICA: FUNCTIONAL BEVERAGE INGREDIENTS MARKET SIZE, BY COUNTRY, 2013–2020 ($MILLION)
112
TABLE 48
NORTH AMERICA: FUNCTIONAL BEVERAGE INGREDIENTS MARKET SIZE, BY COUNTRY, 2013–2020 (TONS)
112
TABLE 49
U.S.: FUNCTIONAL FOOD INGREDIENTS MARKET SIZE, BY TYPE, 2013–2020 ($MILLION)
113
TABLE 50
U.S.: FUNCTIONAL FOOD INGREDIENTS MARKET SIZE, BY TYPE, 2013–2020 (TONS)
114
TABLE 51
U.S.: FUNCTIONAL BEVERAGE INGREDIENTS MARKET SIZE, BY TYPE, 2013–2020 ($MILLION)
114
TABLE 52
U.S.: FUNCTIONAL BEVERAGE INGREDIENTS MARKET SIZE , BY TYPE, 2013–2020 (TONS)
115
TABLE 53
CANADA: FUNCTIONAL FOOD INGREDIENTS MARKET SIZE, BY TYPE, 2013–2020 ($MILLION)
116
TABLE 54
CANADA: FUNCTIONAL FOOD INGREDIENTS MARKET SIZE, BY TYPE, 2013–2020 (TONS)
116
TABLE 55
CANADA: FUNCTIONAL BEVERAGE INGREDIENTS MARKET SIZE, BY TYPE, 2013–2020 ($MILLION)
117
TABLE 56
CANADA: FUNCTIONAL BEVERAGE INGREDIENTS MARKET SIZE, BY TYPE, 2013–2020 (TONS)
117
TABLE 57
MEXICO: FUNCTIONAL FOOD INGREDIENTS MARKET SIZE, BY TYPE, 2013–2020 ($MILLION)
118
TABLE 58
MEXICO: FUNCTIONAL FOOD INGREDIENTS MARKET SIZE, BY TYPE, 2013–2020 (TONS)
119
TABLE 59
MEXICO: FUNCTIONAL BEVERAGE INGREDIENTS MARKET SIZE, BY TYPE, 2013–2020 ($MILLION)
119
TABLE 60
MEXICO: FUNCTIONAL BEVERAGE INGREDIENTS MARKET SIZE, BY TYPE, 2013–2020 (TONS)
120
TABLE 61
EUROPE: FUNCTIONAL FOOD INGREDIENTS MARKET SIZE, BY COUNTRY, 2013–2020 ($MILLION)
122
TABLE 62
EUROPE: FUNCTIONAL FOOD INGREDIENTS MARKET SIZE, BY COUNTRY, 2013–2020 (TONS)
122
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TABLE 63
EUROPE: FUNCTIONAL BEVERAGE INGREDIENTS MARKET SIZE, BY COUNTRY, 2013–2020 ($MILLION)
123
TABLE 64
EUROPE: FUNCTIONAL BEVERAGE INGREDIENTS MARKET SIZE, BY COUNTRY, 2013–2020 (TONS)
123
TABLE 65
U.K.: FUNCTIONAL FOOD INGREDIENTS MARKET SIZE, BY TYPE, 2013–2020 ($MILLION)
124
TABLE 66
U.K.: FUNCTIONAL FOOD INGREDIENTS MARKET SIZE, BY TYPE, 2013–2020 (TONS)
125
TABLE 67
U.K.: FUNCTIONAL BEVERAGE INGREDIENTS MARKET SIZE, BY TYPE, 2013–2020 ($MILLION)
125
TABLE 68
U.K.: FUNCTIONAL BEVERAGE INGREDIENTS MARKET SIZE, BY TYPE, 2013–2020 (TONS)
126
TABLE 69
GERMANY: FUNCTIONAL FOOD INGREDIENTS MARKET SIZE, BY TYPE, 2013–2020 ($MILLION)
127
TABLE 70
GERMANY: FUNCTIONAL FOOD INGREDIENTS MARKET SIZE, BY TYPE, 2013–2020 (TONS)
127
TABLE 71
GERMANY: FUNCTIONAL BEVERAGE INGREDIENTS MARKET SIZE, BY TYPE, 2013–2020 ($MILLION)
128
TABLE 72
GERMANY: FUNCTIONAL BEVERAGE INGREDIENTS MARKET SIZE, BY TYPE, 2013–2020 (TONS)
128
TABLE 73
FRANCE: FUNCTIONAL FOOD INGREDIENTS MARKET SIZE, BY TYPE, 2013–2020 ($MILLION)
129
TABLE 74
FRANCE: FUNCTIONAL FOOD INGREDIENTS MARKET SIZE, BY TYPE, 2013–2020 (TONS)
130
TABLE 75
FRANCE: FUNCTIONAL BEVERAGE INGREDIENTS MARKET SIZE, BY TYPE, 2013–2020 ($MILLION)
130
TABLE 76
FRANCE: FUNCTIONAL BEVERAGE INGREDIENTS MARKET SIZE, BY TYPE, 2013–2020 (TONS)
131
TABLE 77
ITALY: FUNCTIONAL FOOD INGREDIENTS MARKET SIZE, BY TYPE, 2013–2020 ($MILLION)
132
TABLE 78
ITALY: FUNCTIONAL FOOD INGREDIENTS MARKET SIZE, BY TYPE, 2013–2020 (TONS)
132
TABLE 79
ITALY: FUNCTIONAL BEVERAGE INGREDIENTS MARKET SIZE, BY TYPE, 2013–2020 ($MILLION)
133
TABLE 80
ITALY: FUNCTIONAL BEVERAGE INGREDIENTS MARKET SIZE, BY TYPE, 2013–2020 (TONS)
133
TABLE 81
REST OF EUROPE: FUNCTIONAL FOOD INGREDIENTS MARKET SIZE, BY TYPE, 2013–2020 ($MILLION)
134
TABLE 82
REST OF EUROPE: FUNCTIONAL FOOD INGREDIENTS MARKET SIZE, BY TYPE, 2013–2020 (TONS)
135
TABLE 83
REST OF EUROPE: FUNCTIONAL BEVERAGE INGREDIENTS MARKET SIZE, BY TYPE, 2013–2020 ($MILLION)
135
TABLE 84
REST OF EUROPE: FUNCTIONAL BEVERAGE INGREDIENTS MARKET SIZE, BY TYPE, 2013–2020 (TONS)
136
TABLE 85
ASIA-PACIFIC: FUNCTIONAL FOOD INGREDIENTS MARKET SIZE, BY COUNTRY, 2013–2020 ($MILLION)
138
TABLE 86
ASIA-PACIFIC: FUNCTIONAL FOOD INGREDIENTS MARKET SIZE, BY COUNTRY, 2013–2020 (TONS)
138
TABLE 87
ASIA-PACIFIC: FUNCTIONAL BEVERAGE INGREDIENTS MARKET SIZE, BY COUNTRY, 2013–2020 ($MILLION)
139
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TABLE 88
ASIA-PACIFIC: FUNCTIONAL BEVERAGE INGREDIENTS MARKET SIZE, BY COUNTRY, 2013–2020 (TONS)
139
TABLE 89
CHINA: FUNCTIONAL FOOD INGREDIENTS MARKET SIZE, BY TYPE, 2013–2020 ($MILLION)
140
TABLE 90
CHINA: FUNCTIONAL FOOD INGREDIENTS MARKET SIZE, BY TYPE, 2013–2020 (TONS)
141
TABLE 91
CHINA: FUNCTIONAL BEVERAGE INGREDIENTS MARKET SIZE, BY TYPE, 2013–2020 ($MILLION)
141
TABLE 92
CHINA: FUNCTIONAL BEVERAGE INGREDIENTS MARKET SIZE, BY TYPE, 2013–2020 (TONS)
142
TABLE 93
JAPAN: FUNCTIONAL FOOD INGREDIENTS MARKET SIZE, BY TYPE, 2013–2020 ($MILLION)
143
TABLE 94
JAPAN: FUNCTIONAL FOOD INGREDIENTS MARKET SIZE, BY TYPE, 2013–2020 (TONS)
144
TABLE 95
JAPAN: FUNCTIONAL BEVERAGE INGREDIENTS MARKET SIZE, BY TYPE, 2013–2020 ($MILLION)
144
TABLE 96
JAPAN: FUNCTIONAL BEVERAGE INGREDIENTS MARKET SIZE, BY TYPE, 2013–2020 (TONS)
145
TABLE 97
INDIA: FUNCTIONAL FOOD INGREDIENTS MARKET SIZE, BY TYPE, 2013–2020 ($MILLION)
146
TABLE 98
INDIA: FUNCTIONAL FOOD INGREDIENTS MARKET SIZE, BY TYPE, 2013–2020 (TONS)
146
TABLE 99
INDIA: FUNCTIONAL BEVERAGE INGREDIENTS MARKET SIZE, BY TYPE, 2013–2020 ($MILLION)
147
TABLE 100
INDIA: FUNCTIONAL BEVERAGE INGREDIENTS MARKET SIZE, BY TYPE, 2013–2020 (TONS)
147
TABLE 101
AUSTRALIA: FUNCTIONAL FOOD INGREDIENTS MARKET SIZE, BY TYPE, 2013–2020 ($MILLION)
148
TABLE 102
AUSTRALIA: FUNCTIONAL FOOD INGREDIENTS MARKET SIZE, BY TYPE, 2013–2020 (TONS)
149
TABLE 103
AUSTRALIA: FUNCTIONAL BEVERAGE INGREDIENTS MARKET SIZE, BY TYPE, 2013–2020 ($MILLION)
149
TABLE 104
AUSTRALIA: FUNCTIONAL BEVERAGE INGREDIENTS MARKET SIZE, BY TYPE, 2013–2020 (TONS)
150
TABLE 105
REST OF ASIA-PACIFIC: FUNCTIONAL FOOD INGREDIENTS MARKET SIZE, BY TYPE, 2013–2020 ($MILLION)
151
TABLE 106
REST OF ASIA-PACIFIC: FUNCTIONAL FOOD INGREDIENTS MARKET SIZE, BY TYPE, 2013–2020 (TONS)
152
TABLE 107
REST OF ASIA-PACIFIC: FUNCTIONAL BEVERAGE INGREDIENTS MARKET SIZE, BY TYPE, 2013–2020 ($MILLION)
152
TABLE 108
REST OF ASIA-PACIFIC: FUNCTIONAL BEVERAGE INGREDIENTS MARKET SIZE, BY TYPE, 2013–2020 (TONS)
153
TABLE 109
ROW: FUNCTIONAL FOOD INGREDIENTS MARKET SIZE, BY COUNTRY, 2013–2020 ($MILLION)
155
TABLE 110
ROW: FUNCTIONAL FOOD INGREDIENTS MARKET SIZE, BY COUNTRY, 2013–2020 (TONS)
155
TABLE 111
ROW: FUNCTIONAL BEVERAGE INGREDIENTS MARKET SIZE, BY COUNTRY, 2013–2020 ($MILLION)
156
TABLE 112
ROW: FUNCTIONAL BEVERAGE INGREDIENTS MARKET SIZE, BY COUNTRY, 2013–2020 (TONS)
156
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TABLE 113
BRAZIL: FUNCTIONAL FOOD INGREDIENTS MARKET SIZE, BY TYPE, 2013–2020 ($MILLION)
157
TABLE 114
BRAZIL: FUNCTIONAL FOOD INGREDIENTS MARKET SIZE, BY TYPE, 2013–2020 (TONS)
158
TABLE 115
BRAZIL: FUNCTIONAL BEVERAGE INGREDIENTS MARKET SIZE, BY TYPE, 2013–2020 ($MILLION)
158
TABLE 116
BRAZIL: FUNCTIONAL BEVERAGE INGREDIENTS MARKET SIZE, BY TYPE, 2013–2020 (TONS)
159
TABLE 117
OTHERS: FUNCTIONAL FOOD INGREDIENTS MARKET SIZE, BY TYPE, 2013–2020 ($MILLION)
160
TABLE 118
OTHERS: FUNCTIONAL FOOD INGREDIENTS MARKET SIZE, BY TYPE, 2013–2020 (TONS)
160
TABLE 119
OTHERS: FUNCTIONAL BEVERAGE INGREDIENTS MARKET SIZE, BY TYPE, 2013–2020 ($MILLION)
161
TABLE 120
OTHERS: FUNCTIONAL BEVERAGE INGREDIENTS MARKET SIZE, BY TYPE, 2013–2020 (TONS)
161
TABLE 121
NEW PRODUCT LAUNCHES 2011–2012
166
TABLE 122
EXPANSIONS & INVESTMENTS, 2012–2014
167
TABLE 123
ACQUISITIONS, 2010–2014
168
TABLE 124
AGREEMENTS, 2010–2014
169
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LIST OF FIGURES FIGURE 1
FUNCTIONAL FOOD INGREDIENTS MARKET: RESEARCH DESIGN
21
FIGURE 2
IMPACT OF KEY FACTORS INFLUENCING THE PARENT INDUSTRY
26
FIGURE 3
GLOBAL POPULATION IS PROJECTED TO REACH ~9.5 BILLION BY 2050
27
FIGURE 4
MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH
30
FIGURE 5
MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH
31
FIGURE 6
DATA TRIANGULATION METHODOLOGY
32
FIGURE 7
ASSUMPTIONS OF THE RESEARCH STUDY
33
FIGURE 8
LIMITATIONS OF THE RESEARCH STUDY
34
FIGURE 9
FUNCTIONAL FOOD INGREDIENTS MARKET SNAPSHOT (2015 VS. 2020): PROTEINS & AMINO ACIDS IS ESTIMATED TO BE T THE LARGEST MARKET
36
FIGURE 10
FUNCTIONAL FOOD INGREDIENTS MARKET SHARE (VALUE), REGIONAL OVERVIEW IN 2014
37
FIGURE 11
ASIA-PACIFIC FUNCTIONAL FOOD INGREDIENTS MARKET PROJECTED TO GROW AT THE HIGHEST RATE
38
FIGURE 12
KEY MARKET PLAYERS ADOPTED EXPANSIONS & NEW PRODUCT LAUNCHES AS KEY STRATEGY DURING 2010-2014
39
FIGURE 13
EMERGING ECONOMIES OFFER ATTRACTIVE OPPORTUNITIES IN THE FUNCTIONAL FOOD INGREDIENTS MARKET
40
FIGURE 14
BREAKFAST CEREALS TO GROW AT THE HIGHEST RATE
41
FIGURE 15
PROTEINS & AMINO ACIDS CAPTURED THE LARGEST SHARE IN THE EMERGING ASIA-PACIFIC MARKET IN 2014
42
FIGURE 16
INDIA IS PROJECTED TO BE THE FASTEST-GROWING COUNTRY-LEVEL MARKET FOR FUNCTIONAL FOOD INGREDIENTS
43
FIGURE 17
NORTH AMERICA DOMINATED THE FUNCTIONAL FOOD INGREDIENTS MARKET IN 2014, BY VALUE
44
FIGURE 18
EMERGING MARKETS TO GROW FASTER THAN THE DEVELOPED MARKETS
45
FIGURE 19
PROTEINS & AMINO ACIDS SEGMENT WAS THE LARGEST MARKET IN 2014, GLOBALLY
46
FIGURE 20
THE FUNCTIONAL FOOD INGREDIENTS MARKET IN ROW IS EXPERIENCING HIGH GROWTH
47
FIGURE 21
EVOLUTION OF FUNCTIONAL FOOD MARKET
50
FIGURE 22
FUNCTIONAL FOOD INGREDIENTS MARKET, BY TYPE
51
FIGURE 23
FUNCTIONAL FOOD INGREDIENTS MARKET, BY APPLICATION
52
FIGURE 24
FUNCTIONAL FOOD INGREDIENTS MARKET, BY HEALTH BENEFIT
52
FIGURE 25
FUNCTIONAL FOOD INGREDIENTS MARKET, BY REGION
53
FIGURE 26
FUNCTIONAL FOOD MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES AND CHALLENGES
54
FIGURE 27
PROJECTED MAIN CAUSES OF DEATH WORLDWIDE IN ALL AGES, 2005: PUBLISHED BY WHO IN 2009
55
FIGURE 28
CONSUMERS’ PERCEPTION OF SPECIFIC NUTRIENTS’ ADEQUACY IN DIET, 2013
56
FIGURE 29
SUPPLY CHAIN OF FUNCTIONAL FOOD INGREDIENTS IN THE MARKET
60
FIGURE 30
INCREASING DEMAND FOR BALANCED DIET IS A LEADING TREND IN THE INDUSTRY
61
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FIGURE 31
PORTER’S FIVE FORCES ANALYSIS
62
FIGURE 32
STRATEGIC BENCHMARKING: KEY MARKET PLAYERS LARGELY ADOPTED NEW PRODUCT LAUNCHES & EXPANSIONS
66
FIGURE 33
PREBIOTICS ARE GROWING AT A HIGHEST CAGR (2015-2020)
69
FIGURE 34
EUROPE IS THE LARGEST MARKET FOR PROTEINS & AMINO ACIDS
71
FIGURE 35
GROWING APPLICATION OF HYDROCOLLOIDS IN FOOD & BEVERAGE INDUSTRY IS DRIVING THE MARKET
82
FIGURE 36
DAIRY PRODUCTS DOMINATE THE FUNCTIONAL FOOD INGREDIENTS MARKET IN FOOD APPLICATION
89
FIGURE 37
JUICE PRODUCTS DOMINATES THE FUNCTIONAL FOOD INGREDIENTS MARKET IN BEVERAGE APPLICATION
93
FIGURE 38
NUTRITION SEGMENT DOMINATES THE FUNCTIONAL FOOD INGREDIENTS MARKET, BY HEALTH BENEFITS, IN 2014 ($MILLION)
97
FIGURE 39
FUNCTIONAL FOOD INGREDIENTS MARKET, BY HEALTH BENEFITS IN 2014 (KT)
99
FIGURE 40
NORTH AMERICA AS AN IMPORTANT FUNCTIONAL FOOD INGREDIENTS MARKET
110
FIGURE 41
GROWING DEMAND FOR HEALTHY FOOD PRODUCTS IS DRIVING THE FUNCTIONAL FOOD INGREDIENTS MARKET IN EUROPE
121
FIGURE 42
EMERGING OPPORTUNITIES IN DEVELOPING ASIA-PACIFIC COUNTRIES
137
FIGURE 43
BRAZIL AS THE KEY FUNCTIONAL FOOD INGREDIENTS MARKET IN ROW, 2014
154
FIGURE 44
COMPANIES ADOPTED NEW PRODUCT LAUNCHES & EXPANSIONS AS KEY GROWTH STRATEGIES
162
FIGURE 45
FUNCTIONAL FOOD INGREDIENTS MARKET SHARE, BY KEY PLAYER, 2014
163
FIGURE 46
NEW PRODUCT LAUNCHES & EXPANSIONS HAVE FUELED GROWTH BETWEEN 2010 & 2015
164
FIGURE 47
BATTLE FOR MARKET SHARE: NEW PRODUCT LAUNCHES & EXPANSIONS WERE THE KEY STRATEGIES (2010-2015)
165
FIGURE 48
GEOGRAPHIC REVENUE MIX OF KEY MARKET PLAYERS
170
FIGURE 49
CARGILL, INCORPORATED: COMPANY SNAPSHOT
171
FIGURE 50
CARGILL, INCORPORATRED: SWOT ANALYSIS
174
FIGURE 51
ARCHER DANIELS MIDLAND COMPANY: COMPANY SNAPSHOT
175
FIGURE 52
ARCHER DANIELS MIDLAND COMPANY: SWOT ANALYSIS
179
FIGURE 53
ASSOCIATED BRITISH FOODS PLC: COMPANY SNAPSHOT
180
FIGURE 54
ASSOCIATED BRITISH FOODS: SWOT ANALYSIS
183
FIGURE 55
E. I. DU PONT DE NEMOURS AND COMPANY: COMPANY SNAPSHOT
184
FIGURE 56
E. I. DU PONT DE NEMOURS AND COMPANY: SWOT ANALYSIS
188
FIGURE 57
KERRY GROUP: COMPANY SNAPSHOT
189
FIGURE 58
KERRY GROUP PLC: SWOT ANALYSIS
191
FIGURE 59
KONINKLIJKE DSM N.V.: COMPANY SNAPSHOT
193
FIGURE 60
KONINKLIJKE DSM N.V.: SWOT ANALYSIS
195
FIGURE 61
BASF SE: COMPANY SNAPSHOT
197
FIGURE 62
INGREDION INCORPORATED: COMPANY SNAPSHOT
199
FIGURE 63
ARLA FOODS: COMPANY SNAPSHOT
201
FIGURE 64
TATE & LYLE PLC: COMPANY SNAPSHOT
203
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RELATED REPORTS HYDROCOLLOIDS MARKET BY TYPE (GELATIN, XANTHAN, CARRAGEENAN, ALGINATE, AGAR, PECTIN, GUAR, LOCUST BEAN, ARABIC, CMC), SOURCE, F&B APPLICATION, FUNCTION (THICKENER, STABILIZER, GELLING, FAT REPLACER, COATING) & GEOGRAPHY - GLOBAL TREND & FORECAST TO 2019 Hydrocolloids are a diverse group of long-chain polymers that are readily soluble, dispersive, and prone to swell in water. They change the physical properties of the solution to form gels, or enable thickening, emulsification, coating, and stabilization. Hydrocolloids are used for a wide range of applications, such as bakery, confectionery, meat & poultry, sauces & dressings, beverage, and dairy products. Growing application of hydrocolloids and rising health and diet consciousness among consumers drive the market for hydrocolloids. The market is segmented on the basis of sources into plant, microbial, animal, seaweed, and synthetic sources, such as Methyl Cellulose (MC), Carboxymethyl Cellulose (CMC), Hydroxypropyl Methyl Cellulose (HPMC), and Hydroxyethyl Methyl Cellulose (HMC). The market is also segmented on the basis of types of hydrocolloids that include gelatin, xanthan gum, guar gum, carrageenan, agar, alginates, pectin, locust bean gum, and CMC. On the basis of function, the hydrocolloids market is segmented into thickeners, stabilizers, gelling agents, fat replacers, coating materials, and others. On the basis of regions, the market is segmented into North America, Europe, Asia-Pacific, Latin America, and Rest of the World (RoW). The key countries of these regions have also been studied.
FOOD STABILIZERS (BLENDS/SYSTEMS) MARKET BY APPLICATION (BAKERY, CONFECTIONERY, DAIRY, SAUCES, DRESSINGS, MEAT, POULTRY, CONVENIENCE, BEVERAGE), BY FUNCTION STABILITY, TEXTURE, MOISTURE RETENTION) & BY GEOGRAPHY - GLOBAL TREND & FORECAST TO 2018 Food stabilizers (blend/system) are manufactured by blending two or more hydrocolloids and emulsifiers. The rising popularity for processed food such as ready-to-eat and convenience food has increased the demand for food stabilizers blends from food & beverage manufacturers. The food stabilizer systems market is projected to grow at a CAGR of 4.2% from 2013 to 2018. The market was dominated by Europe that accounted for a value share of about 45% in 2012. The Asia-Pacific region is estimated to be the fastest growing market for food stabilizer systems from 2013 to 2018. The demand for stabilizer blends in the emerging Asia-Pacific countries such as India and China drives the market with the increasing F&B manufacturers in the region. The economic development in the emerging countries has further increased the consumption of processed food due to the rising disposable income. The food stabilizers blends has a wide range of applications in the F&B industry. They are used to obtain proper texture, shelf stability, and softness in the food products. The blends are used in beverages to impart volume and mouth feel. The market was segmented on the basis of blends applications, functions, and geography in terms of both value and volume. The market segments by application include bakery, confectionery, dairy, beverages, meat & poultry, and convenience foods. The market segments for functions of blends include stability, texture, moisture retention, and others. The geographic segmentation includes market value and volume for key countries in North America, Europe, Asia-Pacific, and Rest of the World (ROW). 33
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