Functional Food Ingredients Market 2018 | Opportunity, Trends, Share, Top Companies Analysis- Cargill, Associated British Foods Plc., BASF SE, E. I. Du Pont De Nemours and Company, Kerry Group PLC
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Growing awareness about the health benefits from functional food is helping to grow the demand for functional food
The rising awareness of consumers toward the health benefits of foods and their nutritional benefits for potential disease prevention and health enhancement is the driving force of global functional food. Functional foods are the medicinal foods that provide health benefits beyond energy and essential nutrients. Many studies have led to an understanding of the potential mechanisms of biologically active components in food, which could improve health and probably reduce the risk of disease while enhancing our overall well-being. Functional foods products are helping to improve health, reducing the healthcare costs, and supporting the economic development in rural areas. Growing demand for functional foods is also helping the producers to diversify their agriculture and marine-based crops and promoting research and innovation. There is a growing demand for functional foods, especially in developed economies due to increasing awareness toward health benefits of functional foods and an increase in disposable income.
North America to influence the Global functional food market through 2018-2024
North America held the largest market share in the functional food ingredients market. The U.S. is the key country that has the highest market share in this region. The consumers in this region have a high awareness about the anti-cancer and health benefits properties of the functional food ingredients. In addition, there is high popularity of dietary supplements among consumers. Further, growth is mainly driven by the continuously growing demand for energy drinks and fortified dairy products. Asia Pacific region is witnessed to grow at the highest CAGR during the forecast period. The demand for functional food ingredients is increasing in this region owing to growing awareness about functional food ingredients and rising disposable income. Moreover, this region has the highest population owing to which there is a huge possibility of market growth in this region during the forecast period.
Cargill Consolidated Food Ingredients Distribution Network in the US, Canada
November 2018, Cargill’s food ingredients and applications have consolidated its food ingredients distribution network in the North America region. For this company has chosen six North American distribution partners – Univar Inc., Gillco Ingredients, International Food Products Corporation, Batory Foods, Pearson Sales Company and St. Charles Trading, Inc. This move will optimizes customer experience, streamlines the supply chain and creates a platform to generate sustainable growth through a select group of committed channel partners.
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Univar and Cargill reached a long-term agreement for food ingredients
February,2018, Univar has entered into a strategic long-term agreement with Cargill's Food Ingredients & Bio Industrial business for US and Canada region. Now, Customers in this region will be able to enjoy the combined value of Cargill's respected product lines and Univar's extensive distribution network and access to food innovators. Univer is a leading ingredient provider in North America and Canada region. Univar Food Ingredients serves as an advisor in sourcing food ingredients to address today's ever-evolving consumer preferences.
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