Functional Food Market 2023-2028, Share, Size, Growth, Drivers, Industry Trends and Report

Comments · 197 Views

The global functional food market is majorly driven by evolving consumer behavior and advancements in food technology.

IMARC Group’s latest research report, titled “Functional Food Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” offers a comprehensive analysis of the industry, which comprises insights on the global functional food market share. The report also includes competitor and regional analysis, and contemporary advancements in the market.

The global functional food market size reached US$ 207.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 305.6 Billion by 2028, exhibiting a growth rate (CAGR) of 6.5% during 2023-2028.

Functional Food Market Overview:

Functional food refers to food products that are specifically designed to provide additional health benefits beyond basic nutrition. These foods contain bioactive components, such as vitamins, minerals, fatty acids, and fiber that target specific bodily functions such as digestive health, immunity, and heart health. It is engineered to offer targeted health benefits. It comes in various forms, including fortified cereals, probiotic yogurt, omega-3 enriched eggs, and high-fiber snacks. It caters to consumers looking for food options that align with health and wellness objectives. Given the evolving lifestyles and increasing health awareness, functional foods are gaining a significant role in diet plans and nutrition strategies. While all foods provide energy and nutrients, functional foods are set apart by the scientific evidence supporting their health benefits, making them a key segment in the health and wellness industry.

Get a Sample Copy of the Report at – https://www.imarcgroup.com/functional-food-market/requestsample

Competitive Landscape with Key Players:

  • Abbott Laboratories
  • Amway
  • BASF SE
  • Cargill Incorporated
  • Clif Bar Company
  • Danone S.A
  • General Mills inc
  • Glanbia PLC
  • Hearthside Food Solutions LLC
  • Kellogg Company
  • Kerry Group plc
  • Nestlé S.A
  • Raisio Oyj

Functional Food Market Growth and Development:

The global functional food market is majorly driven by evolving consumer behavior and advancements in food technology. Along with this, the increasing awareness of health and wellness among consumers, especially in the wake of lifestyle diseases such as obesity and diabetes, is significantly supporting the market. This awareness is leading to a rise in demand for foods that offer specific health benefits, thereby steering investments into research and development of functional foods.

In addition, the aging global population is increasingly seeking foods that can cater to age-related health concerns, further amplifying market growth. Moreover, technological advancements are enabling the fortification of regular foods with bioactive ingredients, making it easier for consumers to incorporate functional foods into their regular diets. Apart from this, the convenience provided by online retail platforms allows easy access to a diverse range of functional food products, contributing to market expansion.

Explore the Full Report with Charts, Table of Contents, and List of Figures: https://www.imarcgroup.com/functional-food-market

Key Market Segmentation:

Breakup by Product Type:

  • Bakery Products
  • Breakfast Cereals
  • Snack/Functional Bars
  • Dairy Products
  • Baby Food
  • Others

Breakup by Ingredient:

  • Probiotics
  • Minerals
  • Proteins and Amino Acids
  • Prebiotics and Dietary Fiber
  • Vitamins
  • Others

Breakup by Distribution Channel:

  • Supermarkets and Hypermarkets
  • Specialist Retailers
  • Convenience Stores
  • Online Stores
  • Others

Breakup by Application:

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

Breakup by Region:

  • North America (United States, Canada)
  • Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
  • Europe (Germany, France, United Kingdom, Italy, Spain, Others)
  • Latin America (Brazil, Mexico, Others)
  • Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key Highlights of the Report:

  • Market Performance (2017-2022)
  • Market Outlook (2023-2028)
  • Porter’s Five Forces Analysis
  • Market Drivers and Success Factors
  • SWOT Analysis
  • Value Chain
  • Comprehensive Mapping of the Competitive Landscape

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Contact us:

IMARC Group

134 N 4th St. Brooklyn, NY 11249, USA

Email: [email protected]

Tel No:(D) +91 120 433 0800

Americas:- +1 631 791 1145 | Africa and Europe :- +44-702-409-7331 | Asia: +91-120-433-0800, +91-120-433-0800

Comments