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Functional Food Market Trends, Top Companies, Share, Growth And Forecast 2032
Functional Food Market
The Business Research Company's Functional Food Global Market Report 2023 identifies increasing number of diseases is shifting consumers' focus to healthy eating as the major driver for the functional food market's growth in the forecast period. Functional food provides the human body with healthy nutrition, vitamins and minerals, and reduces the risk of diseases.
The global functional foods market size will grow from $203.64 billion in 2022 to $229.7 billion in 2023 at a compound annual growth rate (CAGR) of 12.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global functional foods market size is expected to grow from $354.96 billion in 2027 at a CAGR of 11.5%.
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Major competitors in the functional food market are Unilever, BNL Food Group, Dean Foods, The Coca-Cola Company, Arla Foods, Abbott Laboratories, PepsiCo Inc., Kraft Foods Inc., and Nestle.
A key trend in the functional food market includes functional food market are increasingly focusing on new product developments and company expansion to meet the rising demand from consumers. For instance, in January 2022, Fonterra Co-operative Group Limited, New-Zealand-based dairy company, Tillamook Country Creamery Association (TCAA), and Three Mile Canyon Farm, introduced Pro-Optima TM, A-grade functional whey protein concentrate. Pro-Optima TM can be used in cultured products such as yogurt, to enhance the textures to deliver multi-functional benefits.
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https://www.thebusinessresearchcompany.com/report/functional-foods-global-market-report
The functional food market is segmented -
• By Product Type: Bakery & Cereals, Dairy Products, Meat, Fish & Eggs, Soy Products, Fats & Oils, Other Product Types
• By Ingredients: Carotenoids, Dietary Fibers, Fatty Acids, Minerals, Prebiotics & Probiotics, Vitamins, Other Ingerdients
• By Application: Sports Nutrition, Weight Management, Immunity, Digestive Health, Clinical Nutrition, Cardio Health, Other Applications
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the functional food market.
The Business Research Company's "Global Functional Food Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Functional Food Market Include:
1. Executive Summary
2. Functional Food Market Characteristics
3. Functional Food Market Trends And Strategies
4. Functional Food Market - Macro Economic Scenario
5. Functional Food Market Size And Growth
……
26. Africa Functional Food Market
27. Functional Food Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Functional Food Market
29. Functional Food Market Future Outlook and Potential Analysis
30. Appendix
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