Functional Food Market

Functional Foods Market was valued at USD 173 Billion in 2019 and projected to grow at 7.3% CAGR during the forecast period.

Functional food, also known as nutraceuticals, are highly nutritious food products that have a high value of powerful health benefits. Some of the functional food products are dietary supplements and diets, designer food products, herbal products, and processed food products such as cereals, soups, and beverages. These food products are enriched with added nutrients and other substances that promote good health. They help in preventing nutrient deficiencies, protect against various diseases, offer proper growth and development while improving the overall health.

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The increasing rate of the geriatric population, unhealthy lifestyle of the millennials as well as the post-millennials, and the rising rate of chronic diseases since an early age are the significant factors that are boosting the demand of the functional food market. Moreover, the growing health consciousness among the consumers, along with the increasing trend of healthy diet patterns, are further creating numerous opportunities for the growth of the market in the coming years. The rising awareness among people related the gut health due to the growing number of fatal incidents with the intestinal inflammation is another factor that is driving the growth of the market.

The increasing purchasing power of the consumers, followed by the growing healthcare expenditure, has further boosted the demand of the global functional foods market. In addition to this, with the emergence of the COVID-19, the consumers are actively looking for various functional food products having extra nutritional values to increase their immune system. Furthermore, the consumers have shifted towards a healthy lifestyle in these testing times to minimize the spread of the coronavirus, especially in 2020. The combination of these factors will enhance the growth of functional food products over the coming years. Numerous food safety regulations and the limited health benefits of the functional foods as compared to the claimed amount of benefits by the sellers are certain factors are likely to restrain the global functional foods market growth .

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Based on the ingredient, the vitamin segment is anticipated to dominate the functional food market in the next six years. The growing awareness related to the remarkable advantages associated with the consumption of vitamins, such as lowers the cholesterol levels, controls blood sugar, and helps in maintaining overall health is the major factor that is contributing to the growth of the segment. All these benefits offered by vitamins have resulted in an increase in the demand for the segment in the market. In contrast, the prebiotics and probiotics segment is expected to witness a higher CAGR over the forecast period. Prebiotics are the short-chain carbohydrates that improve the activities of some groups of beneficial bacteria. They provide various health benefits such as reduces the risk of cancer and improves the absorption capacity of calcium and magnesium. All these benefits will encourage the end-users to opt for food products having prebiotics as an ingredient.

On the basis of the application, the cardio health segment is expected to grow at a faster CAGR in the coming years owing to the increasing demand for functional food products among the people suffering from congestive heart failure, cardiovascular diseases, congenital heart defects, and hardening of arteries. Furthermore, the growing focus on improving joint health, weight loss, and bone and muscle strength will drive the segment’s demand.

Based on the product, the dairy products segment is projected to experience a higher CAGR over the next six years. The increasing demand for dairy products such as yogurts, milk drinks, and spreads is the key driver that is surging the demand of the segment. These products are rich in compounds and are often added as an ingredient in the food preparation process.

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Based on the region, the Asia-pacific region is anticipated to lead the global functional food market during the forecast period. This is due to the growing rate of population, along with the increasing disposable income and rising consumption of processed food products in Asian countries. Additionally, the growing safety concerns among the consumers, influencing consumer behavior, and the increasing concern related to malnutrition and poverty will further energize the market’s demand in the region.

Various notable players operating in the market include Standard Functional Foods Group Inc., Arla Foods, Amway, Coca-Cola Co., Cargill, Incorporated, BASF, General Mills Inc., KFSU, Nutri-Nation, and GFR Pharma, among others.

The global Functional Food market has been segmented on the basis of Ingredient, Product, Application, and key regions. Based on Ingredient, the market is segmented into Carotenoids, Dietary Fibers, Fatty Acids, Minerals, Prebiotics & Probiotics, Vitamins and Others. Based on Product, the market is segmented into Bakery & Cereals, Dairy Products, Meat, Fish & Eggs, Soy Products, Fats & Oils and Others. Based on Application, the market is segmented into Sports Nutrition, Weight Management, Immunity, Digestive Health, Clinical Nutrition, Cardio Health and Others.

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Key questions answered in this research report:

• • At what pace is global Functional Food market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Functional Food market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Functional Food market?
  • Which Ingredient generated maximum revenues in 2019 and identify the most promising Ingredient during the forecast period?
  • What are the various Products of global Functional Food market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

Global Functional Food Market by Ingredient

• • Carotenoids
  • Dietary Fibers
  • Fatty Acids
  • Minerals
  • Prebiotics & Probiotics
  • Vitamins
  • Others

Global Functional Food Market by Product

• • Bakery & Cereals
  • Dairy Products
  • Meat, Fish & Eggs
  • Soy Products
  • Fats & Oils
  • Others

Global Functional Food Market by Application

• • Sports Nutrition
  • Weight Management
  • Immunity
  • Digestive Health
  • Clinical Nutrition
  • Cardio Health
  • Others

Global Functional Food Market by Region

• • North America Functional Food Market (Option 1: As a part of the free 25% customization)
    • North America Functional Food Market by Ingredient
    • North America Functional Food Market by Product
    • North America Functional Food Market by Application
    • US Functional Food Market All-Up
    • Canada Functional Food Market All-Up
  • Europe Functional Food Market (Option 2: As a part of the free 25% customization)
    • Europe Functional Food Market by Ingredient
    • Europe Functional Food Market by Product
    • Europe Functional Food Market by Application
    • UK Functional Food Market All-Up
    • Germany All-Up Functional Food Market All-Up
    • France Functional Food Market All-Up
    • Spain Functional Food Market All-Up
    • Rest of Europe Functional Food Market All-Up
  • Asia-Pacific Functional Food Market (Option 3: As a part of the free 25% customization)
    • Asia-Pacific Functional Food Market by Ingredient
    • Asia-Pacific Functional Food Market by Product
    • Asia-Pacific Functional Food Market by Application
    • China Functional Food Market All-Up
    • India Functional Food Market All-Up
    • Japan Functional Food Market All-Up
    • Rest of APAC Functional Food Market All-Up
  • RoW Functional Food Market (Option 4: As a part of the free 25% customization)
    • RoW Functional Food Market by Ingredient
    • RoW Functional Food Market by Product
    • RoW Functional Food Market by Application
    • Brazil Functional Food Market All-Up
    • South Africa Functional Food Market All-Up
    • Saudi Arabia Functional Food Market All-Up
    • UAE Functional Food Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Functional Food Market All-Up

Major Players Operating the Functional Food (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Standard Functional Foods Group Inc.
  • Arla Foods
  • Amway
  • Coca-Cola Co.
  • Cargill, Incorporated
  • BASF
  • General Mills Inc.
  • KFSU
  • Nutri-Nation
  • GFR Pharma