Global Functional Food Ingredients Market Outlook: Growth Forecast and Industry Dynamics
The global functional food ingredients market size was USD 105.60 Billion in 2022 and is expected to register a rapid revenue CAGR of 6.9% during the forecast period. Rising prevalence of chronic diseases is primary key factor driving market revenue growth. Functional meals provide the human body with essential nutrients that aid in prevention of chronic diseases as these are high in antioxidants, which help to neutralize free radicals that damage healthy cells and reduce the risk of chronic diseases including heart disease, cancer, and diabetes. In addition, high-fiber diets help to prevent illnesses such as obesity, heart disease, stroke, and Gastrointestinal (GI) disorders is another key factor driving revenue growth of the market. According to the World Health Organization (WHO), 41 million people every year die due to chronic diseases globally, among which cardiovascular illnesses accounted for majority of death i.e., 17.9 million people per year, followed by malignancies 9....