Functional Food Market Analysis and Industry Forecast 2021-2027

Functional Food Market 2027
The functional food market size was valued at USD 177,770.00 Million in 2019 and is estimated to reach USD 267,924.40 Million by 2027, registering a CAGR of 6.7% from 2021 to 2027.

Functional food can be defined as food that has been altered and makes health claims. It does not treat illness, but by enhancing bodily health and supplying vital minerals and proteins, it helps to lower the risk of contracting fatal diseases. Dietary functional food improves a person's physiological state.

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Functional Food Market Trends
The demand for nutritive and fortifying food additives is expected to rise, propelling the market's expansion. The fortification of nutritional additions including omega-3 fatty acids, fiber, vitamins, minerals, and others is a trend among food and beverage manufacturers. Increasing the nutritional value of food products is the primary goal of adopting the aforementioned chemicals in the food and beverage sector. This factor is expected to drive the growth of the functional food market.

Fish oils and yogurt both heavily utilize functional components like omega-3 and probiotics to lower the risk of cardiovascular illnesses and enhance the quality of intestinal microbiota. During the anticipated years, a similar trend is anticipated to fuel the market. Additionally, in view of growing concerns about reducing Greenhouse Gas (GHG) emissions, the European Commission and the Environmental Protection Agency (EPA) have developed supportive policies to increase both the production and consumption of organically derived substances.

Over the course of the forecast period, the market is anticipated to continue to be driven by a positive perspective on the food and beverage industry, notably in the BRICS nations of Brazil, Russia, India, China, and South Africa. Growing domestic food and beverage consumption is anticipated to support growth in the BRICS in light of the expansion of the retail network, new product introductions, and population increase. As a result of political upheaval, particularly in China and India, regulatory support for enabling Foreign Direct Investments (FDI) at the domestic level in the BRICS is projected to facilitate FDI and accelerate growth.

Functional Food Market Share Analysis
The probiotic segment accounted for about one-third of the global functional food market share in terms of ingredients in 2019, and it is anticipated that it will maintain its share throughout the forecast period. This is primarily attributed to growing awareness of the advantages of probiotic-rich foods, which include aiding in digestive system balance, treating and preventing diarrhea, and providing supplements to improve mental health conditions.

Depending on the product, the dairy product segment had annual sales of $48,831.8 million in 2019 and is projected to grow to $73,030.0 million by 2027 at a compound annual growth rate of 6.6%. Given that it contains significant amounts of protein, fat, and important minerals, milk is regarded as a nearly complete food. Any food made from milk is considered a dairy product, which includes butter, cheese, ice cream, yogurt, and condensed and dried milk. Dairy products are being consumed by more people because they are crucial for maintaining a healthy weight and for developing strong bones.

By application, sports nutrition is anticipated to grow at a CAGR of 6.5% to reach $ 72,114.6 million by 2027. There is a growing understanding that nutritional factors can affect an individual's ability to perform physically and mentally when engaging in strenuous exercise, including bodybuilders and athletes. After intense exercise, the body may need specific nutritional components, which functional food can provide.

Asia-Pacific dominated the global market for functional foods in 2019 and is predicted to continue dominating the market for the duration of the forecast period. Increasing urbanization, rising health-related spending, and awareness of the therapeutic potential of functional foods are anticipated to fuel market expansion in Asia-Pacific during the forecast period. The market's expansion is also being impacted by drastic changes in food preferences and lifestyle changes.

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Functional Food Market Segmentation
By Application
Sports Nutrition
Weight Management
Clinical Nutrition
Cardio Health
Others

By Product
Bakery & Cereals
Dairy Products
Meat, Fish & Eggs
Soy Products
Fats & Oils
Others

By Ingredient
Probiotics
Minerals
Proteins & Amino Acids
Prebiotics & Dietary Fiber
Vitamins
Others

By Region
North America
U.S
Canada
Mexico
Europe
Germany
UK
France
Russia
Italy
Spain
Rest Of Europe
Asia-Pacific
China
India
Japan
Australia
South Korea
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa

Key Companies
DANONE
GLANBIA PLC
HEARTHSIDE FOOD SOLUTIONS LLC
MARS, INCORPORATED
MEIJI CO., LTD
NESTLÉ S.A
RAISIO PLC
ROYAL FRIESLANDCAMPINA N.V
SANITARIUM HEALTH FOOD COMPANY
THE KRAFT HEINZ COMPANY

SIMILAR REPORTS

https://reports.valuates.com/market-reports/QYRE-Othe-0O302/vitamins

https://reports.valuates.com/market-reports/ALLI-Manu-0M24/clinical-nutrition

https://reports.valuates.com/market-reports/QYRE-Auto-0A7449/global-health-functional-food

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