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.
Modified functional foods such as yogurt, milk, rice, coconut, almond and cashew milk, eggs, granola, pasta, and others are healthy alternatives that provide nutritional benefits. Functional foods are in high demand because they prevent nutritional deficiencies, cell damage and chronic diseases and promote the growth and development of infants and children. Several factors, such as the increasing incidence of chronic diseases, the growth of the middle class in emerging economies, the implementation of government strengthening programs, the growth of an aging population and the growing consumer interest in health, are expected and well-being sell nutrient-dense and fortified foods. , thereby driving market demand for functional food ingredients. Additionally, consumer needs for convenient and nutrient-dense foods and increasing consumption of food and beverages have driven the growth of the functional food industry.
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The Major Players in The Global 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.
Market has segmented the Global Functional Food Market on the basis of type, application, and region:
By Product:
- Bakery
- Cereals
- Dairy Products
- Meat
- Fish
- Others
By Application:
- Sports Nutrition
- Weight Management
- Clinical Nutrition
- Cardio Health
By Regional Outlook (Revenue, USD Billion, 2022 – 2028)
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
- Asia-Pacific (China, India, Japan, Southeast Asia, Rest of APAC)
- Middle East & Africa (GCC Countries, South Africa, Rest of MEA)
- South America (Brazil, Argentina, Rest of South America)
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Covid-19 Impact and Recovery Analysis on Industry:
The usage of functional food ingredients was high in demand than in the preceding period. The pandemic positively impacted the functional food industry as the sales of nutrition fortified products and ingredients grew rapidly owing to the health and nutrition benefits. Also, the food supply chain was becoming significantly more important for the COVID-19 world. The food and beverages as well as food ingredient segment is estimated to witness a huge growth in the upcoming years attributed to the increasing consumer awareness.
Reasons to purchase the report:
- Visualize the composition of the Global Functional Food Market products in terms of Product and application highlighting the critical commercial assets and players.
- Identify commercial opportunities in the Global Functional Food Market by analyzing trends and co-development deals.
- PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
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
To be continued…….
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