Global Functional Food Market Report | Global Forecast From 2022 To 2028
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 type of food that offer health benefits and additional nutritional value to the human body. Foods fortified with fiber, probiotics, prebiotics, vitamins and minerals, as well as fruits, whole grains, fermented foods, seeds, nuts and vegetables are some of the nutrient-dense functional foods. Modified functional foods such as yogurt, milk, rice, coconut, almond and cashew milk, eggs, granola, pasta and others are some of the healthy alternatives that provide nutritional benefits. Functional foods are in great demand as they prevent nutritional deficiencies, cell damage and chronic diseases, and stimulate the growth and development of babies and children.
The increasing demand for fortifying and nutritional food additives is anticipated to drive the growth of the market in the coming years. Food and beverage manufacturers are focused on implementing fortification of nutritional additives including fiber, omega-3 fatty acids, minerals, vitamins, and others into their product offerings. The main reason for incorporating the above-mentioned additives in food and beverages is to increase the nutritional content of the food. Functional ingredients, for example, probiotics and omega-3s, are widely used in yogurt and fish oils to reduce the risk of cardiovascular disease and improve the quality of the intestinal microflora. Such a trend of adding functional ingredients to food products is projected to trigger the growth of the market during the analysis period.
Key Prominent Players 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.
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Market segmentation
The Functional Food market is segmented by type and application. Growth between segments over the period 2022-2028 provides accurate calculations and forecasts of revenue by type and application in terms of volume and value. This analysis can help you expand your business by targeting eligible niches.
By Ingredient Probiotics
· Carotenoids
· Minerals
· Proteins & Amino Acids
· Vitamins
· Others
By Product
· Bakery
· Cereals
· Dairy Products
· Meat
· Fish
· Others
By Application
· Sports Nutrition
· Weight Management
· Clinical Nutrition
· Cardio Health
By Region
· North America (U.S., Canada, Mexico)
· Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
· Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
· Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
· South America (Brazil, Argentina, Rest of SA)
Analysis of the impact of Covid-19 on the functional food market
The COVID-19 pandemic had a strong impact on numerous food industries. However, due to the sudden appearance of the virus, the population around the world began to opt for healthy and safe food products. This led to an increase in sales of the functional food. The use of functional food ingredients was in higher demand than in the previous period. The pandemic had a positive impact on the functional foods industry, as sales of nutrition-enriched products and ingredients grew rapidly due to the health and nutrition benefits. Additionally, the food supply chain was becoming significantly more important to the world of COVID-19.
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This study conducts a SWOT analysis to evaluate the strengths and weaknesses of key players in the Functional Food market. Additionally, the report performs a complex inspection of drivers and restraints operating in the market. The report also evaluates the observed trends in the parent market along with macroeconomic indicators, dominant factors and market attractiveness in relation to other segments. The report forecasts the impact of various industry aspects on the Functional Food market segments and regions.
What benefits does introspective market research study is going to provide?
• Latest industry influencing trends and development scenario
• Open up New Markets
• To Seize powerful market opportunities
• Key decision in planning and to further expand market share
• Identify Key Business Segments, Market proposition & Gap Analysis
• Assisting in allocating marketing investments
Table Of Content:
Chapter 1: Introduction
1.1 Research Objectives
1.2 Research Methodology
1.3 Research Process
1.4 Scope and Coverage
1.4.1 Market Definition
1.4.2 Key Questions Answered
1.5 Market Segmentation
Chapter 2:Executive Summary
Chapter 3:Growth Opportunities By Segment
3.1 By Ingredient
3.2 By Product
3.3 By Application
Chapter 4: Market Landscape
4.1 Porter's Five Forces Analysis
4.1.1 Bargaining Power of Supplier
4.1.2 Threat of New Entrants
4.1.3 Threat of Substitutes
4.1.4 Competitive Rivalry
4.1.5 Bargaining Power Among Buyers
4.2 Industry Value Chain Analysis
4.3 Market Dynamics
4.3.1 Drivers
4.3.2 Restraints
4.3.3 Opportunities
4.5.4 Challenges
4.4 Pestle Analysis
4.5 Technological Roadmap
4.6 Regulatory Landscape
4.7 SWOT Analysis
4.8 Price Trend Analysis
4.9 Patent Analysis
4.10 Analysis of the Impact of Covid-19
4.10.1 Impact on the Overall Market
4.10.2 Impact on the Supply Chain
4.10.3 Impact on the Key Manufacturers
4.10.4 Impact on the Pricing
Chapter 5: Functional Food Market by Ingredient
5.1 Functional Food Market Overview Snapshot and Growth Engine
5.2 Functional Food Market Overview
5.3 Probiotics
5.3.1 Introduction and Market Overview
5.3.2 Historic and Forecasted Market Size (2016-2028F)
To Be Continued…….
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