Functional Extracts Market Analysis by Regions, Types, Applications and Key Companies Contribution 2022-2032

Functional Extracts Market
Functional Extracts Market

The Functional Extracts Market is expected to register a CAGR of 6.5% during the forecast period, up from US$ 98.9 Bn in 2021 to reach a valuation of US$ 190.95 Bn by 2032.

The functional extracts are concentrated phytonutrients that are available naturally in most vegetables, plants, and fruits. Functional extracts are the extracts derived from sources like plants, vegetables, and fruits. Functional extracts play an important role in increasing the nutritional levels of food products, supplements, and drinks.

Some of the plants, vegetables, and fruits used in the extracting of the ingredients are apple, grass, almonds, alfalfa grass and many such products. The addition of functional extracts in the products does not change its taste or feel.

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These are absolutely natural and organic in nature. Functional extracts are essential and are used to enhance the overall nutritional value of the food and beverage. The key regions that are involved in the global functional extracts market include North American, Asian, and European countries. Some of the leading players in the global functional extracts market are Applied Food Sciences Inc., Future Ceuticals Inc., Morre-Tec Industries Inc., Kerry Inc., Pure World Inc., Naturex Inc., and VF Bioscience SAS.

Awareness Regarding Health Benefits of Organic Products Is Driving the Functional Extracts Market

The overall functional extracts market is booming rapidly across the globe. The major driver that is driving the demand for the functional extracts market is the increase in the use and consumption of organic products in the food and beverages, cosmetics, pharmaceuticals, and other industries. Consumers are demanding the use of natural and organic ingredients in these products which are driving the functional extracts market at a rapid pace.

The growing trend of consumers’ inclination towards organic and natural food products is driving the global functional extracts market. There is also an increased awareness amongst people regarding the benefits one gets from by using and consuming naturally extracted products which is supporting the growth of the functional extracts market. The growth is observed due to increased production and consumption of the nutritional food in the market. The main restraint in the functional extracts market is the availability of substitutes and a very low supply of raw materials.

Functional Extracts Market: Regional Analysis

The countries that are largely involved in the global functional extracts market are Germany, the US, China, the UK, Thailand, India, and Brazil.

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Functional Extracts Market: Key Participants

Some of the market participants in the functional extracts market are:

  • Archer Daniels Midland Company
  • Green Source Organics
  • The Green Labs LLC
  • Bell Flavors and Fragrances
  • Applied Food Sciences Inc.
  • FutureCeuticals Inc.
  • Morre-Tec Industries Inc.
  • Kerry Inc.
  • Pure World Inc.
  • Naturex Inc.
  • VF Bioscience SAS
  • NOF America Corporation
  • Teawolf LLC
  • Kalsec Inc.
  • Tianjiang Pharmaceutical Co., Ltd.

Functional Extracts Market Segmentation

The functional extracts market is segmented on the basis of nature, application, and source.

On the basis of nature, the functional extracts market can be segmented as:

  • Organic
  • Conventional

On the basis of application, the functional extracts market can be segmented as:

  • Food and beverages
  • Drinks
  • Dairy
  • Dietary supplements
  • Food
  • Human nutrition
  • Animal nutrition
  • Personal care
  • Cosmetics
  • Hair care
  • Skin care
  • Pharmaceuticals
  • Perfume

On the basis of source, the functional extracts market can be segmented as:

  • Plants
  • Vegetables
  • Fruits
  • Seeds
  • Flowers

Author by:

Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives.

She has exceptional analytical skills and often brings thought leadership to the table.

Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.

Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor’s Degree in Electrical Engineering from Nagpur University, India.

Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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About the Author

Ronak Shah

Associate Vice President at Future Market Insights is deeply committed to uncovering actionable insights for consumer and food and beverage players. She brings a unique blend of analysis, industry trends, and consumer behavior to put data into perspective.

What she makes out of data becomes a delight to read. She has authored many opinions, including for publications like Process Industry Informer and Spinal Surgery News, as she understands the market pulse and consumers' shifting preferences.

She likes to bring experts to a roundtable to weigh the impact of a trend on an industry. Catch up with her discussion on the impact of AI in packaging.

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