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Multifunctional Food Ingredients Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024

Report Description

Food ingredients are extensively used in various processes employed in the food manufacturing industry. These ingredients are imperative to lend the desired quality to food products. The use of multifunctional food ingredients is primarily aimed at replacing gluten, gums, fats, and other unhealthy or expensive ingredients in foods. The use of multifunctional food ingredients is also gaining momentum as they help enhance the shelf life of products and help adhere to prevailing food safety norms. The other advantages are: increased product yield and maintenance of texture, taste, and appearance.

In the meat and poultry sector, multifunctional ingredients are added to improve the safety of the products during the storage phase and to maintain the firmness of products. Moreover, these products are also used to achieve the optimal rheological indicators and the desired thermodynamic characteristics.

Furthermore, they enable food to acquire the desired moisture holding characteristics, especially in the case of finished goods. Oat-derived multifunctional ingredients, particularly, are used in numerous bakery products as they help in extending their shelf life by impeding moisture migration.

Multifunctional ingredients also help achieve better volume and yield. They also work by enhancing the texture and keep intact that nutritional value of processed or finished products. The market for multifunctional food ingredients also features products derived from food-grade yeast. Such products find uses in improving the flavor of salad dressings that have lower fat levels. In addition, they help offset the acid bite of vinegar that is added to most salad dressings. The use of yeast extracts also results in a more balanced and smoother flavor of the product in question. The use of multifunctional ingredients doesn’t necessary make the product in question more viscous.

Multifunctional Food Ingredients Market: Segmentation

The market for multifunctional food ingredients can be segmented on the following criteria: ingredient type, region, and applications. Basis ingredient type, the global multifunctional food ingredients market can be divided into emulsions and flavors, oat extracts, hydrocolloids, yeast extracts, fibers, bulking agents, and others (such as dairy powders). Of these, the segment of hydrocolloids is projected to register rapid growth through the forecast period.

Multifunctional fibers are derived from vegetables and fruits peels and pulp. They help replace more expensive ingredients such as oil, pectin, and eggs. The use of bulking agents is increasing; this is expected to lead this segment to register the fastest growth in the years ahead. The market for multifunctional food ingredients has been segmented based on the type of application, and is comprised of dessert and toppings, bakery and confectionery products, dairy products, meat and poultry, as well as processed food products.

Of these, the segment of meat and poultry has matured; it is expected to remain dominant during the report’s forecast period. Multifunctional food ingredients are also widely employed in confectionery products so as to improve and intensify their flavor and taste. Their use also ensures better product stability and longer shelf life. Moreover, multifunctional flaxseed ingredients are used for replacing gum in numerous cereal products. This has stimulated their demand in producing products such as gluten-free products, tortillas, sheeted dough, pizza crusts, and breads and batters.

Multifunctional Food Ingredients Market: Region-wise Outlook

Multifunctional food ingredients market can be divided and studied on by region into: North America, Eastern Europe, Latin America, Asia Pacific excluding Japan, Western Europe, Japan, and Middle East and Africa. Of these, the markets in North America and Europe have a well-developed multifunctional food ingredients industry.

Multifunctional Food Ingredients Market: Drivers

The demand among consumers for clean label products and natural ingredients is rising. This augurs well for the market for multifunctional food ingredient. The advent of ingredient blends featuring all-natural ingredients will contribute toward improving product quality. In 2015, a new range of new multifunctional food ingredients was launched by Corbian. These products were meant for meat and poultry.

In the same year, NutraGenesis LLC also launched a new functional ingredient, Sensara, for use in drinks and foods. The product claims to provide nourishment to women. The use of new raw materials derived from marine sources is yet another trend; algae is commonly used owing to its desirable oil and fiber content. Algal flour is thus finding newer uses as a multifunctional food ingredients in varying products like breads, dressing, dough products, nutritional beverages, and sauces.

Multifunctional Food Ingredients Market: Key Players

Companies profiled in the report include: Arla Foods Ingredients, AlgaVia, Butter Buds Inc., Ashland Inc., Florida Food, Inc., Z Trim Holdings, Inc., Glanbia Nutritionals, NutraGenesis LLC., and Solazyme.

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand
  • Market size
  • Current trends/opportunities/challenges
  • Competitive landscape
  • Technological breakthroughs
  • Value chain and stakeholder analysis

The regional analysis covers:

  • North America (U.S. and Canada)
  • Latin America (Mexico, Brazil, Peru, Chile, and others)
  • Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, Luxembourg)
  • Eastern Europe (Poland, Russia)
  • Asia Pacific (China, India, Japan, ASEAN, Australia and New Zealand)
  • Middle East and Africa (GCC, Southern Africa, North Africa)

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

  • A complete backdrop analysis, which includes an assessment of the parent market
  • Important changes in market dynamics
  • Market segmentation up to the second or third level
  • Historical, current, and projected size of the market from the standpoint of both value and volume
  • Reporting and evaluation of recent industry developments
  • Market shares and strategies of key players
  • Emerging niche segments and regional markets
  • An objective assessment of the trajectory of the market
  • Recommendations to companies for strengthening their foothold in the market

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