NEW
YORK, May 16, 2024 /PRNewswire/ -- The
global functional food market size is
estimated to grow by USD 127.46 bn
from 2024-2028, according to Technavio. The market is estimated to
grow at a CAGR of 7.66% during the forecast
period.
For more insights on the forecast market size and
historic data (2018 - 2022) - Download
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Forecast
period
|
2024-2028
|
Base Year
|
2023
|
Historic
Data
|
2018 - 2022
|
Segment
Covered
|
Distribution Channel
(Offline and Online), Product Type (Dairy products, Bakery and
cereals, Meat/fish and egg, and Soy products and others), and
Geography (APAC, North America, Europe, South America, and Middle
East and Africa)
|
Region
Covered
|
APAC, North America,
Europe, South America, and Middle East and Africa
|
Key companies
profiled
|
Abbott Laboratories,
Archer Daniels Midland Co., Arla Foods amba, Campbell Soup Co.,
Cargill Inc., Conagra Brands Inc., Danone SA, General Mills Inc.,
Good Source Foods Inc., Hildur Functional Foods Pvt. Ltd., Kellogg
Co., Laird Superfood Inc., Meiji Holdings Co. Ltd., Mondelez
International Inc., Nestle SA, PepsiCo Inc., Raisio plc, Roquette
Freres SA, The Coca Cola Co., Tyson Foods Inc., and Unilever
PLC
|
Key Market Trends Fueling Growth
The functional food market is experiencing robust growth due to
the rise of personalized nutrition. This approach caters to unique
health needs and preferences by tailoring dietary recommendations
and food formulations based on genetic makeup, lifestyle, and
health goals. Innovation is being driven by technological
advancements, such as genetic testing and data analytics, enabling
personalized insights into nutrition. Functional foods address
specific health concerns, optimize performance, and enhance overall
well-being, aligning with consumers' personal health objectives.
Key areas of focus include nutritional additives, health benefits,
supply chain, geriatric population, consumer interest, functional
ingredients, omega-3 fatty acids, probiotics, fish oils,
carotenoids, fiber, cholesterol reduction, blood sugar control,
vitamins, dairy products, bakery and cereals, meat, eggs, soy
products, fats and oils, sports nutrition, clinical nutrition,
weight management, cardio health, immunity, digestive health,
prebiotics, nutrigenomics, and various extraction
techniques.
Market Challenges
- Functional foods, enriched with probiotic strains,
flavonoids like Quercetin, Kaempferol, and Catechins, and textured
proteins, face high prices due to complex production processes and
specialized ingredient sourcing. These factors can limit market
accessibility to price-sensitive consumers, creating a perception
of luxury or niche status. Functional foods, including energy
drinks and dairy alternatives, support various health conditions
such as obesity, diabetes, cardiovascular diseases, aging
population, cognitive decline, joint health, and sports nutrition.
Global consumer awareness and the growing health-conscious
population continue to drive demand for these healthier food
products. International food regulations ensure their safety and
quality.
Research report provides comprehensive data on
impact of trend, driver and challenges - Buy
Report
Segment Overview
This functional food market report extensively covers market
segmentation by
- Distribution Channel
- Product Type
- 2.1 Dairy products
- 2.2 Bakery and cereals
- 2.3 Meat/fish and egg
- 2.4 Soy products and others
- Geography
- 3.1 APAC
- 3.2 North America
- 3.3 Europe
- 3.4 South America
- 3.5 Middle East and
Africa
1.1 Offline- In the realm of distribution
channels for functional food markets, supermarkets and hypermarkets
emerge as the most favored options due to their extensive offerings
of nutritional additives and a wide array of products catering to
various health benefits. The supply chain of these establishments
ensures a steady flow of functional ingredients, such as omega-3
fatty acids, probiotics, fish oils, and yogurt, among others.
Supermarkets and hypermarkets also cater to the growing consumer
interest in geriatric population, offering products with
cholesterol reduction, blood sugar control, and vitamins. Dairy
products, bakery and cereals, meat, eggs, soy products, fats and
oils, sports nutrition, clinical nutrition, weight management,
cardio health, immunity, and digestive health are some of the
categories that witness significant demand. Advanced technologies
like ultrasound-assisted extraction, microwave-assisted extraction,
pulsed electric field, radio-frequency drying, supercritical
fluids, cold plasma treatment, electro-osmotic dewatering, and
nanoencapsulation are employed to enhance the nutritional value and
shelf life of these products. Additionally, the rise of veganism
and plant-based meat alternatives further expands the scope of
functional food offerings in supermarkets and hypermarkets.
For more information on market segmentation with geographical
analysis including forecast (2024-2028) and historic data (2018 -
2022) - Download a Sample Report
Research Analysis
The Functional Food Market encompasses a wide range of products
designed to address the health concerns of various populations,
particularly the geriatric population. Consumer interest in
healthier food products has led to the incorporation of functional
ingredients such as Omega-3 fatty acids, Probiotics, and
Prebiotics. These ingredients are sourced through advanced supply
chain methods, including Ultrasound-assisted extraction,
Microwave-assisted extraction, Pulsed electric field,
Radio-frequency drying, and Supercritical fluids. Functional foods
play a crucial role in mitigating health issues like obesity,
diabetes, cardiovascular diseases, heart disease, and stroke. The
aging population, with its increased susceptibility to cognitive
decline, further emphasizes the importance of functional foods in
maintaining overall health.
Market Research Overview
The functional food market encompasses a wide range of products
designed to provide health and nutritional benefits beyond basic
nutrition. These foods may contain bioactive components, such as
probiotics, prebiotics, fiber, vitamins, and minerals, that can
positively impact health and reduce the risk of chronic diseases.
The market is driven by increasing consumer awareness and demand
for healthy food options, as well as advancements in food
technology and innovation. Consumers are seeking functional foods
that cater to specific health needs, such as weight management,
energy boost, and immune system support. The market is also
influenced by demographic trends, such as an aging population and
the rise of vegetarianism and veganism. The future of the
functional food market looks promising, with continued growth and
innovation expected in the coming years.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Distribution Channel
-
- Product Type
-
- Dairy Products
- Bakery And Cereals
- Meat/fish And Egg
- Soy Products And Others
- Geography
-
- APAC
- North America
- Europe
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio