Functional magnetic materials are smart materials that can efficiently convert, store, and manipulate magnetic energy. This is very useful for various applications. However, conventional fabrication techniques, such as casting, sintering, and lithography, are very challenging in producing complex geometries, precise material compositions, and minimal waste. These challenges limit the optimization of magnetic performance and restrict design flexibility for advanced applications. Additive manufacturing (AM) has emerged as a transformative solution to these challenges. AM permits the layer-by-layer fabrication of intricate structures with tailored magnetic properties, offering unprecedented design freedom, material efficiency, and the integration of multiple functionalities into a single component. The present study investigates AM for functional magnetic materials, including soft and hard magnetic materials, magnetocaloric materials, and magnetic shape memory alloys. Patent landscape analysis on the future potential of AM in functional magnetic materials is evaluated for emerging trends, key players, and technological advancement in the area.