Functional Foods Market to hit US$ 418,439.42 million, Globally, by 2028 at 8.7% CAGR: The Insight Partners

Get a Sample Report "Functional Foods Market" to 2028 @ https://www.theinsightpartners.com/sample/TIPRE00018000/?utm_source=OpenPR&utm_medium=10432

Global "Functional Foods Market" size is likely to grow US$ 418,439.42 million by 2028, from US$ 233,620.18 million In 2021, at a CAGR of 8.7% During 2021-2028. The Insight Partners provides key analysis on the global market in a report, titled "Functional Foods Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product Type (Bakery and Confectionery, Dairy and Frozen Desserts, Sweet and Savory Snacks, Breakfast Cereals, and Others), Category (Organic and Conventional), and Distribution Channel (Supermarkets and Hypermarkets, Convenience Stores, Online Retail, and Others)" Browse Market data Tables and Figures spread through 150 Pages and in-depth TOC on functional foods Market. In this study, 2021 has been considered as the base year and 2021 to 2028 as the forecast period to estimate the market size for functional foods.

Functional foods are whole, fortified, enriched, or improved foods that give health benefits and essential nutrients (e.g., vitamins and minerals) when consumed in adequate amounts as part of a varied diet regularly. Functional foods have unique health benefits beyond the typical daily intake of nutrients, such as increased bone health, cholesterol management, and improved heart health.

The key players operating in the functional foods market include Unilever; Clif Bar & Company.; Laird Superfood; Abbott; Danone S.A.; GENERAL MILLS, INC.; HILDUR; Nestlé; Kellogg Company; and Good Source Foods, LLC. These players are engaged in developing innovative products to meet the emerging consumer trends. Moreover, they are involved in mergers & acquisitions, business expansion, and partnerships to expand their market share globally.

Asia Pacific held the largest share of the global functional foods market in 2020 and Asia Pacific is expected to grow significantly over the forecast period. An increase in consumer interest and a better understanding of the immunity-boosting properties of appropriate diet and dietary habits are among the primary drivers fueling the expansion of functional foods in the region. Further, fast food intake is causing harmful changes in health conditions and increasing the incidence of chronic diseases such as diabetes and obesity. Consumers are spending more money on nutritional foods to boost their general health as they become more aware of these health issues, increasing the region's functional foods market growth.

Speak to Analyst for more details: https://www.theinsightpartners.com/speak-to-analyst/TIPRE00018000/?utm_source=OpenPR&utm_medium=10432

Impact of COVID-19 Pandemic on Functional Foods Market

The COVID-19 pandemic affected many industries due to nationwide lockdowns, business shutdowns, and supply chain disruptions. There was a mixed impact of the pandemic on the functional foods market. Initially, due to lockdowns and business shutdowns, manufacturers suffered from a shortage of raw materials and labor, which affected their production and supply. However, as people became more health-conscious, they preferred health-boosting products. Functional foods experienced significant demand as they help improve bone health, manage cholesterol levels, and heart health. Moreover, the demand for functional or fortified foods has expanded throughout many regions due to positive and intense marketing by corporations and recommendations from health specialists such as doctors, nutritionists, and others.

Market Insights

Rising Demand for Healthy Snacking

Due to recent changes in consumer behavior, the worldwide snacks market is shifting away from oily-spicy snacks and toward healthier, sugar-free, nutrient-rich, and low-oil variants packaged in small quantities. This is boosting the growth of the functional foods market as these foods are typically high in important nutrients, including vitamins, minerals, healthy fats, and fiber. New-age consumers seek nutritious, on-the-go, and affordable snacking options that suit their daily nutritional demands while appealing to their taste buds. For instance, according to a recent Mondelez survey, over 59% of adults worldwide prefer to consume multiple small meals throughout the day rather than a few larger ones. Consumers are increasingly interested in functional snacks for energy, focus, and relaxation, particularly in the form of bars and meal replacement foods.

Category Insights

Based on category, the functional foods market is segmented into organic and conventional. The conventional segment held a larger market share. The organic segment is projected to grow at a faster CAGR during the forecast period. The increasing demand of consumers for organic functional food has motivated the companies and cultivators to promote organic farming, which is driving the segment. Manufacturers are developing organic functional food to cater to the increasing demand from consumers. For instance, Nature's Path Foods, a US manufacturer of packaged certified organic breakfast cereal, reported stellar growth for its Organic Optimum Power Breakfast Cereal. Thus, increased demand for organic foods due to the rise in health awareness, as well as awareness about the harmful effects of pesticides, is driving the organic functional food segment.

Immediate delivery of our off-the-shelf reports and prebooking of upcoming studies, through flexible and convenient payment methods: https://www.theinsightpartners.com/buy/TIPRE00018000/?utm_source=OpenPR&utm_medium=10432

Contact Us:

If you have any queries about this report or if you would like further information, please contact us:

Contact Person: Sameer Joshi

E-mail: sales@theinsightpartners.com

Phone: +1-646-491-9876

About Us:

"The Insight Partners" is a one-stop solution for all the industrial research requirements. We help our clients get quick solutions pertaining to the market scenario and requirements based on our state-of-the-art research methodology.

We excel at providing research-based reports across a wide range of sectors and industries such as Semiconductors & Electronics, Aerospace & Defence, Automotive & Transportation, Biotechnology, Healthcare, IT, Manufacturing & Construction, Medical Device Technology, Media & Telecommunications, and Chemicals and Materials.

We keep our research pattern lucid to understand. Serving the best to our customers is our foremost priority. Our research reports time and again have proved to be worthy of the client's money providing the most suitable data and market analysis.

Our research work precisely focuses on the market performance in terms of market size, competitive plotting, company analysis, regional or country analysis, etc. We deliver the categorically segmented data that provides the know-how of geography, technology, products and services, thereby enabling the clients to better understand their industrial research requirements.

This release was published on openPR.