IMARC Group’s latest research report, titled “Functional Food Market Report: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027,” offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios.
The global functional food market reached a value of US$ 194.54 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 287.72 Billion by 2027, exhibiting a CAGR of 6.60% during 2022-2027. Functional food refers to an array of processed food products that offer medical and health benefits and minimize the risk of several diseases. It comprises fruits, nuts, seeds, legumes, whole grains, seafood, vegetables, fermented foods, herbs and spices, beverages, etc. Functional food is rich in vitamins, antioxidants, minerals, and heart-healthy fats that aid in preventing cell damage and chronic conditions, including heart disease, diabetes, cancer, etc. It also assists in curing various digestive disorders, such as stomach ulcers, hemorrhoids, diverticulitis, acid reflux, etc. As a result, functional food is extensively utilized in sports nutrition, weight management, clinical nutrition, cardio health, etc.
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Important Attribute and highlights of the Report:
- Detailed analysis of the global market share
- Market Segmentation by product type, ingredient, distribution channel and application.
- Historical, current, and projected size of the market in terms of volume and value
- Latest industry trends and developments
- Competitive Landscape for Functional Food Market
- Strategies of major players and product offerings
The escalating commercialization of sports nutrients for athletes to enhance their performance and the availability of products, including creatine and whey protein-based foods, are primarily driving the functional food market. Besides this, the increasing consciousness among individuals about healthy eating habits is further augmenting the market growth. Apart from this, the emerging trend of on-the-go snacking among children and adults is also catalyzing the global market. In addition to this, leading market players are focusing on unique promotional strategies through social media platforms that are acting as significant growth-inducing factors. Moreover, the elevating popularity of probiotic food products to enhance digestive health is positively influencing the product demand. Furthermore, the expanding novel technologies, such as enzymes, vacuum impregnation, encapsulation, edible coating, etc., for the formulation of these products are expected to bolster the functional food market in the coming years.
Key Players Included in Global Functional Food Market Research Report:
- Abbott Laboratories
- 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.
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We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Key Market Segmentation:
Breakup by Product Type:
- Bakery Products
- Breakfast Cereals
- Snack/Functional Bars
- Dairy Products
- Baby Food
Breakup by Ingredient:
- Proteins and Amino Acids
- Prebiotics and Dietary Fiber
Breakup by Distribution Channel:
- Supermarkets and Hypermarkets
- Specialist Retailers
- Convenience Stores
- Online Stores
Breakup by Application:
- Sports Nutrition
- Weight Management
- Clinical Nutrition
- Cardio Health
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)
TOC for the Functional Food Market Research Report:
- Scope and Methodology
- Executive Summary
- Global Functional Food Market
- SWOT Analysis
- Value Chain Analysis
- Price Analysis
- Competitive Landscape
Who we are:
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.
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