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Global Functional Food Market: By Ingredient: Probiotics, Minerals, Proteins and Amino Acids, Prebiotics and Dietary Fibres, Vitamins, Others; By Product Type; By Application; Regional Analysis; Historical Market and Forecast (2018-2028); Market Dynamics: SWOT Analysis; Competitive Landscape; Industry Events and Developments
Global Functional Food Market Outlook
The global functional food market reached a value of USD 170.2 billion in 2020. The market is further expected to grow at a CAGR of 6.7% in the forecast period of 2023-2028 to reach a value of USD 251.1 billion by 2026.
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Increasing Demand for Prebiotics and Dietary Fibres to Augment the Functional Food Industry Growth
Based on ingredient, the prebiotics and dietary fibres segment is expected to grow at a rapid pace over the forecast period. Fibre consumption is linked to a variety of health advantages, including gut health maintenance, cholesterol reduction, and blood sugar control, to name a few. These benefits, together with the growing functional food industry, are projected to drive the dietary fibre segment forward. Moreover, prebiotics provide a variety of health advantages in the large intestine, including reduced cancer risk and improved calcium and magnesium absorption. Prebiotics are found in a variety of vegetables and fruits.
The Asia Pacific to Provide Enhanced Growth Opportunities to the Functional Food Industry
Due to a growing population and increased disposable income, the Asia Pacific is expected to be one of the largest markets for the product. The consumption of processed foods in the region is rapidly increasing, and there is a growing awareness of health and fitness in emerging countries, such as India and China. Moreover, the growing concern about food safety is affecting consumer behaviour, thus, fuelling the market growth. Furthermore, to tackle rising worries about hunger, poverty, and malnutrition, the governments are anticipated to prioritise food fortification. As a result, these factors are likely to have a substantial impact on the market growth.
Functional Food: Market Segmentation
A functional food is one that claims to have an additional function (usually one linked to health promotion or illness prevention) by combining two or more ingredients. Functional foods are intended to provide physiological advantages and/or lower the risk of chronic illness beyond basic nutritional functions. It can be taken as part of a normal diet and may look like traditional food.
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By ingredient, the market is divided into:
- Probiotics
- Minerals
- Proteins and Amino Acids
- Prebiotics and Dietary Fibres
- Vitamins
- Others
The industry can be categorised based on product type into:
- Bakery and Cereals
- Dairy Products
- Meat, Fish, and Eggs
- Soy Products
- Fats and Oils
- Others
Based on application, the market is classified into:
- Sports Nutrition
- Weight Management
- Clinical Nutrition
- Cardio Health
- Others
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Rising Demand for Nutritional and Fortified Food Products to Bolster the Growth of the Functional Food Industry
The industry is expanding due to the rising consumer demand for nutritious and fortified food products. Moreover, functional ingredients like omega-3 and probiotics are widely utilised in fish oils and yoghurt to lower the risk of cardiovascular diseases and enhance the quality of intestinal microflora. This is driving the growth of the market. Furthermore, as people become more health-conscious and pay more attention to their lifestyles and diets, the demand for functional foods is expected to increase throughout the world.
Due to the growing popularity of low-carbohydrate and high-protein diets such as paleo diets and the increasing awareness of digestive health, the market is anticipated to witness a significant growth in the forecast period.
Key Industry Players in the Functional Food Market
The report gives a detailed analysis of the following key players in the global functional food market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- Danone S.A.
- Glanbia, Plc
- Hearthside Food Solutions LLC
- Mars, Incorporated
- Meiji Holdings Company, Ltd.
- Nestlé S.A.
- Raisio plc
- Royal FrieslandCampina N.V.
- Sanitarium Health Food Company
- The Kraft Heinz Company
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report | Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Ingredient, Product Type, Application, Region |
| Breakup by Ingredient | Probiotics, Minerals, Proteins and Amino Acids, Prebiotics and Dietary Fibres, Vitamins, Others |
| Breakup by Product Type | Bakery and Cereals, Dairy Products, Meat, Fish, and Eggs, Soy Products, Fats and Oils, Others |
| Breakup by Application | Sports Nutrition, Weight Management, Clinical Nutrition, Cardio Health, Others |
| Breakup by Region | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
| Market Dynamics | SWOT, Porter's Five Forces, Key Indicators for Price and Demand |
| Competitive Landscape | Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications |
| Companies Covered | Danone S.A., Glanbia, Plc, Hearthside Food Solutions LLC, Mars, Incorporated, Meiji Holdings Company, Ltd., Nestlé S.A., Raisio plc, Royal FrieslandCampina N.V., Sanitarium Health Food Company, The Kraft Heinz Company, Others |
| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Functional Food Market Analysis
8.1 Key Industry Highlights
8.2 Global Functional Food Historical Market (2018-2022)
8.3 Global Functional Food Market Forecast (2023-2028)
8.4 Global Functional Food Market by Ingredient
8.4.1 Probiotics
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2022)
8.4.1.3 Forecast Trend (2023-2028)
8.4.2 Minerals
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2022)
8.4.2.3 Forecast Trend (2023-2028)
8.4.3 Proteins and Amino Acids
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2018-2022)
8.4.3.3 Forecast Trend (2023-2028)
8.4.4 Prebiotics and Dietary Fibres
8.4.4.1 Market Share
8.4.4.2 Historical Trend (2018-2022)
8.4.4.3 Forecast Trend (2023-2028)
8.4.5 Vitamins
8.4.5.1 Market Share
8.4.5.2 Historical Trend (2018-2022)
8.4.5.3 Forecast Trend (2023-2028)
8.4.6 Others
8.5 Global Functional Food Market by Product Type
8.5.1 Bakery and Cereals
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2022)
8.5.1.3 Forecast Trend (2023-2028)
8.5.2 Dairy Products
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2022)
8.5.2.3 Forecast Trend (2023-2028)
8.5.3 Meat, Fish, and Eggs
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2018-2022)
8.5.3.3 Forecast Trend (2023-2028)
8.5.4 Soy Products
8.5.4.1 Market Share
8.5.4.2 Historical Trend (2018-2022)
8.5.4.3 Forecast Trend (2023-2028)
8.5.5 Fats and Oils
8.5.5.1 Market Share
8.5.5.2 Historical Trend (2018-2022)
8.5.5.3 Forecast Trend (2023-2028)
8.5.6 Others
8.6 Global Functional Food Market by Application
8.6.1 Sports Nutrition
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2018-2022)
8.6.1.3 Forecast Trend (2023-2028)
8.6.2 Weight Management
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2018-2022)
8.6.2.3 Forecast Trend (2023-2028)
8.6.3 Clinical Nutrition
8.6.3.1 Market Share
8.6.3.2 Historical Trend (2018-2022)
8.6.3.3 Forecast Trend (2023-2028)
8.6.4 Cardio Health
8.6.4.1 Market Share
8.6.4.2 Historical Trend (2018-2022)
8.6.4.3 Forecast Trend (2023-2028)
8.6.5 Others
8.7 Global Functional Food Market by Region
8.7.1 North America
8.7.1.1 Market Share
8.7.1.2 Historical Trend (2018-2022)
8.7.1.3 Forecast Trend (2023-2028)
8.7.2 Europe
8.7.2.1 Market Share
8.7.2.2 Historical Trend (2018-2022)
8.7.2.3 Forecast Trend (2023-2028)
8.7.3 Asia Pacific
8.7.3.1 Market Share
8.7.3.2 Historical Trend (2018-2022)
8.7.3.3 Forecast Trend (2023-2028)
8.7.4 Latin America
8.7.4.1 Market Share
8.7.4.2 Historical Trend (2018-2022)
8.7.4.3 Forecast Trend (2023-2028)
8.7.5 Middle East and Africa
8.7.5.1 Market Share
8.7.5.2 Historical Trend (2018-2022)
8.7.5.3 Forecast Trend (2023-2028)
9 North America Functional Food Market Analysis
9.1 United States of America
9.1.1 Market Share
9.1.2 Historical Trend (2018-2022)
9.1.3 Forecast Trend (2023-2028)
9.2 Canada
9.2.1 Market Share
9.2.2 Historical Trend (2018-2022)
9.2.3 Forecast Trend (2023-2028)
10 Europe Functional Food Market Analysis
10.1 United Kingdom
10.1.1 Market Share
10.1.2 Historical Trend (2018-2022)
10.1.3 Forecast Trend (2023-2028)
10.2 Germany
10.2.1 Market Share
10.2.2 Historical Trend (2018-2022)
10.2.3 Forecast Trend (2023-2028)
10.3 France
10.3.1 Market Share
10.3.2 Historical Trend (2018-2022)
10.3.3 Forecast Trend (2023-2028)
10.4 Italy
10.4.1 Market Share
10.4.2 Historical Trend (2018-2022)
10.4.3 Forecast Trend (2023-2028)
10.5 Others
11 Asia Pacific Functional Food Market Analysis
11.1 China
11.1.1 Market Share
11.1.2 Historical Trend (2018-2022)
11.1.3 Forecast Trend (2023-2028)
11.2 Japan
11.2.1 Market Share
11.2.2 Historical Trend (2018-2022)
11.2.3 Forecast Trend (2023-2028)
11.3 India
11.3.1 Market Share
11.3.2 Historical Trend (2018-2022)
11.3.3 Forecast Trend (2023-2028)
11.4 ASEAN
11.4.1 Market Share
11.4.2 Historical Trend (2018-2022)
11.4.3 Forecast Trend (2023-2028)
11.5 Australia
11.5.1 Market Share
11.5.2 Historical Trend (2018-2022)
11.5.3 Forecast Trend (2023-2028)
11.6 Others
12 Latin America Functional Food Market Analysis
12.1 Brazil
12.1.1 Market Share
12.1.2 Historical Trend (2018-2022)
12.1.3 Forecast Trend (2023-2028)
12.2 Argentina
12.2.1 Market Share
12.2.2 Historical Trend (2018-2022)
12.2.3 Forecast Trend (2023-2028)
12.3 Mexico
12.3.1 Market Share
12.3.2 Historical Trend (2018-2022)
12.3.3 Forecast Trend (2023-2028)
12.4 Others
13 Middle East and Africa Functional Food Market Analysis
13.1 Saudi Arabia
13.1.1 Market Share
13.1.2 Historical Trend (2018-2022)
13.1.3 Forecast Trend (2023-2028)
13.2 United Arab Emirates
13.2.1 Market Share
13.2.2 Historical Trend (2018-2022)
13.2.3 Forecast Trend (2023-2028)
13.3 Nigeria
13.3.1 Market Share
13.3.2 Historical Trend (2018-2022)
13.3.3 Forecast Trend (2023-2028)
13.4 South Africa
13.4.1 Market Share
13.4.2 Historical Trend (2018-2022)
13.4.3 Forecast Trend (2023-2028)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 Danone S.A.
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 Glanbia, Plc
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 Hearthside Food Solutions LLC
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 Mars, Incorporated
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 Meiji Holdings Company, Ltd.
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 Nestlé S.A.
16.2.6.1 Company Overview
16.2.6.2 Product Portfolio
16.2.6.3 Demographic Reach and Achievements
16.2.6.4 Certifications
16.2.7 Raisio plc
16.2.7.1 Company Overview
16.2.7.2 Product Portfolio
16.2.7.3 Demographic Reach and Achievements
16.2.7.4 Certifications
16.2.8 Royal FrieslandCampina N.V.
16.2.8.1 Company Overview
16.2.8.2 Product Portfolio
16.2.8.3 Demographic Reach and Achievements
16.2.8.4 Certifications
16.2.9 Sanitarium Health Food Company
16.2.9.1 Company Overview
16.2.9.2 Product Portfolio
16.2.9.3 Demographic Reach and Achievements
16.2.9.4 Certifications
16.2.10 The Kraft Heinz Company
16.2.10.1 Company Overview
16.2.10.2 Product Portfolio
16.2.10.3 Demographic Reach and Achievements
16.2.10.4 Certifications
16.2.11 Others
17 Key Trends and Developments in the Market
Additional Customisations Available
1 Manufacturing Process
1.1 Overview
1.2 Detailed Process Flow
1.3 Operation Involved
List of Key Figures and Tables
1. Global Functional Food Market: Key Industry Highlights, 2018 and 2028
2. Global Functional Food Historical Market: Breakup by Ingredient (USD Billion), 2018-2022
3. Global Functional Food Market Forecast: Breakup by Ingredient (USD Billion), 2023-2028
4. Global Functional Food Historical Market: Breakup by Product Type (USD Billion), 2018-2022
5. Global Functional Food Market Forecast: Breakup by Product Type (USD Billion), 2023-2028
6. Global Functional Food Historical Market: Breakup by Application (USD Billion), 2018-2022
7. Global Functional Food Market Forecast: Breakup by Application (USD Billion), 2023-2028
8. Global Functional Food Historical Market: Breakup by Region (USD Billion), 2018-2022
9. Global Functional Food Market Forecast: Breakup by Region (USD Billion), 2023-2028
10. North America Functional Food Historical Market: Breakup by Country (USD Billion), 2018-2022
11. North America Functional Food Market Forecast: Breakup by Country (USD Billion), 2023-2028
12. Europe Functional Food Historical Market: Breakup by Country (USD Billion), 2018-2022
13. Europe Functional Food Market Forecast: Breakup by Country (USD Billion), 2023-2028
14. Asia Pacific Functional Food Historical Market: Breakup by Country (USD Billion), 2018-2022
15. Asia Pacific Functional Food Market Forecast: Breakup by Country (USD Billion), 2023-2028
16. Latin America Functional Food Historical Market: Breakup by Country (USD Billion), 2018-2022
17. Latin America Functional Food Market Forecast: Breakup by Country (USD Billion), 2023-2028
18. Middle East and Africa Functional Food Historical Market: Breakup by Country (USD Billion), 2018-2022
19. Middle East and Africa Functional Food Market Forecast: Breakup by Country (USD Billion), 2023-2028
20. Middle East and Africa Historical Price Trends and Forecast 2018-2028
21. Global Functional Food Market Structure
Key Questions Answered in the Report
In 2020, the global functional food market attained a value of nearly USD 170.2 billion.
The market is projected to grow at a CAGR of 6.7% between 2023 and 2028.
The industry is primarily being driven by the factors such as growing consumer demand for nutrient rich and fortified food products, growing population, rise in disposable incomes and government initiatives to resolve problems of hunger, poverty, and malnutrition.
The key trends of the market like the rising popularity of low-carbohydrate, high-protein diets such as paleo diets and rising awareness of digestive health are propelling the industry’s growth.
The major regions in the industry are North America, Latin America, Europe, Middle East and Africa, and the Asia Pacific with the Asia Pacific accounting for the largest share in the market.
The prebiotics and dietary fibres segment are the dominant ingredient in the industry.
The industry can be categorised based on product type into bakery and cereals, dairy products, meat, fish, and eggs, soy products, fats and oils, among others.
Based on application, the market is classified into sports nutrition, weight management, clinical nutrition, and cardio health, among others.
The major players in the industry are Danone S.A., Glanbia, Plc, Hearthside Food Solutions LLC, Mars, Incorporated, Meiji Holdings Company, Ltd., Nestlé S.A., Raisio plc, Royal FrieslandCampina N.V., Sanitarium Health Food Company, and The Kraft Heinz Company, among others.
Analyst Review
The global functional food market attained a value of USD 170.2 billion in 2020, driven by the growing consumer demand for nutrient rich and fortified food products. Aided by the rising popularity of low-carbohydrate, high-protein diets and rising awareness of digestive health, the market is expected to witness a further growth in the forecast period of 2023-2028, growing at a CAGR of 6.7%.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on its product types, the global functional food industry can be segmented into bakery and cereals, dairy products, meat, fish, and eggs, soy products, fats and oils, among others. By ingredient type, probiotics, minerals, proteins and amino acids, prebiotics and dietary fibres, and vitamins, among others are the segments, with prebiotics and dietary fibres accounting for the largest market share. On the basis of application, the industry is classified into sports nutrition, weight management, clinical nutrition, and cardio health, among others. The major regional markets for the functional food are North America, Latin America, Europe, Middle East and Africa, and the Asia Pacific, with the Asia Pacific accounting for the largest share of the market. The key players in the above market include Danone S.A., Glanbia, Plc, Hearthside Food Solutions LLC, Mars, Incorporated, Meiji Holdings Company, Ltd., Nestlé S.A., Raisio plc, Royal FrieslandCampina N.V., Sanitarium Health Food Company, and The Kraft Heinz Company, among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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