The Global Functional Food Market was estimated at USD 196.98 Billion in 2021, and is projected to reach USD 282.01 Billion by 2028, growing at a CAGR of 5.26% over the analysis period.
Functional foods are a category of food products that offer additional nutritional value and health benefits to the human body. These foods are enriched with nutrients such as fiber, probiotics, prebiotics, vitamins, and minerals. Nutrient-rich functional foods include fruits, vegetables, whole grains, fermented foods, seeds, nuts, and more. Modified functional foods, such as fortified yogurt, milk alternatives like rice, coconut, almond, and cashew milk, as well as eggs, granola, pasta, and others, serve as healthy alternatives with nutritional benefits. Several factors contribute to the increasing demand for nutrition-rich and fortified foods. These include the growing prevalence of chronic diseases, the expanding middle class in developing economies, government fortification programs, the aging population, and rising consumer interest in health and wellness. These factors collectively drive the sales of functional food ingredients and propel the market demand for these products.
Key Chapter Will Be Provided In The Report
- Patent Analysis
- Regulatory Framework
- Technology Roadmap
- BCG Matrix
- Heat Map Analysis
- Price Trend Analysis
- Investment Analysis
- Company Profiling and Competitive Positioning
- Industry Value Chain Analysis
- Market Dynamics and Factors
- Porter’s Five Forces Analysis
- Pestle Analysis
- SWOT Analysis
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Market Dynamics and Factors:
The rising demand for nutritional and fortified food products is a key driver for the global functional food market. the rising demand for nutritional and fortified food products is a strong driver for the global functional food market. Consumer preferences for healthier options, disease prevention, an aging population, government support, and product innovation collectively contribute to the growth and expansion of the functional food market worldwide.
The adoption of emerging technologies in the functional food industry presents a significant opportunity for the global market. These technologies enable product innovation, improved manufacturing processes, personalized nutrition approaches, enhanced ingredient delivery systems, and increased consumer engagement and transparency. By leveraging technologies such as nanotechnology, biotechnology, automation, data analytics, and blockchain, the functional food industry can develop novel products, streamline production, tailor solutions to individual needs, improve ingredient delivery and preservation, and enhance supply chain transparency. These advancements drive the growth of the market.
Top Key Players Covered In The Functional Food Market:
- Merit Functional Foods(Winnipeg)
- Danone SA (France)
- Del Monte Pacific Limited (DMPL) (Singapore)
- Dr Pepper Snapple Group, Inc. (USA)
- General Mills, Inc. (USA)
- Glanbia Nutritionals Limited (UK)
- MaxiNutrition (UK)
- GNC Holdings, Inc. (USA)
- Hangzhou Wahaha Group Co., Ltd. (China)
- Herbalife International, Inc. (USA)
- Kellogg Company (USA)
- Meiji Holdings Co., Ltd. (Japan)
- Natural Products, Inc. (USA)
- Nestle Nutrition (Switzerland), and other major players.
The Functional Food Market Report Highlight:
- By Ingredient, the Carotenoids segment is anticipated to lead the growth of the Functional Food market in the forecasted timeframe. They have been associated with various health benefits, including antioxidant properties, immune system support, eye health promotion, and anti-inflammatory effects.
- By Product, the dairy product segment is expected to have the highest share of the Functional Food market over the projected period. Because dairy products have a wide range of applications in the food industry, including functional foods.
- By Application, the cardio health segment is anticipated to lead the growth of the Functional Food market in the forecasted timeframe. As awareness of these conditions and the importance of heart-healthy increases, consumers are actively seeking functional foods that can help support cardiovascular health.
- The Asia Pacific region is expected to have the highest share of the Functional Food market over the projected period. Economic growth and rising disposable income levels in countries across the Asia Pacific region have led to an increase in consumer spending on healthy and functional food products.
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Key Industry Development:
In November 2021, Merit Functional Foods, a company specializing in plant protein solutions, has recently unveiled its new facility in Winnipeg, Manitoba. Spanning an impressive 94,000 square feet, this state-of-the-art facility is fully optimized to cater to the needs of prominent food and beverage customers. Merit Functional Foods aims to meet the growing demand for high-quality plant proteins and position itself as a leading supplier in the industry.
Functional Food Market Segmentation:
- Proteins & Amino Acids
- Dairy Products
- Sports Nutrition
- Weight Management Clinical Nutrition
- Cardio Health
For this report, Introspective Market Research has segmented the Functional Food Market based on region:
Regional Outlook (Revenue in USD Million; Volume in Units, 2022-2028)
- North America
- Eastern Europe
- The Czech Republic
- Rest of Eastern Europe
- Western Europe
- Rest of Western Europe
- Asia Pacific
- South Korea
- The Philippines
- New Zealand
- Rest of APAC
- Middle East & Africa
- Saudi Arabia
- South Africa
- South America
- Rest of SA
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Scope of the Report:
The latest research on the Functional Food market provides a comprehensive overview of the market for the years 2022 to 2028. It gives a comprehensive picture of the global Functional Food industry, considering all significant industry trends, market dynamics, competitive landscape, and market analysis tools such as Porter’s five forces analysis, Industry Value chain analysis, and PESTEL analysis of the Functional Food market. Moreover, the report includes significant chapters such as Patent Analysis, Regulatory Framework, Technology Roadmap, BCG Matrix, Heat Map Analysis, Price Trend Analysis, and Investment Analysis which help to understand the market direction and movement in the current and upcoming years. The report is designed to help readers find information and make decisions that will help them grow their businesses. The study is written with a specific goal in mind to give business insights and consultancy to help customers make smart business decisions and achieve long-term success in their particular market areas.
Table of Content:
Chapter 1: Introduction
Chapter 2: Executive Summary
Chapter 3: Growth Opportunities By Segment
Chapter 4: Market Landscape
Chapter 5: Functional Food Market by Ingredient
Chapter 6: Functional Food Market by Product
Chapter 7: Functional Food Market by Application
Chapter 8: Company Profiles and Competitive Analysis
Chapter 9: Global Functional Food Market Analysis, Insights and Forecast, 2016-2028
Chapter 10: North America Functional Food Market Analysis, Insights and Forecast, 2016-2028
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