Functional Food Market is expected to reach US$ 316.1 billion by 2030

Functional Food Market Size
The Global Functional Food Market reached US$ 195.4 billion in 2022 and is expected to reach US$ 316.1 billion by 2030 growing with a CAGR of 6.2% during the forecast period 2023-2030.

Consumers are increasingly recognizing the pivotal role of gut health in overall well-being, leading to a surge in demand for functional foods enriched with probiotics, prebiotics, and fiber that support gut health and foster a healthy microbiome. The growth of the functional food market is propelled by a rising health consciousness, a growing interest in preventive healthcare, and a demand for convenient and personalized nutrition solutions.

Within the realm of functional foods, nutraceuticals and functional foods represent two intersecting categories, both leveraging bioactive compounds and ingredients to deliver health benefits beyond basic nutrition. This approach provides a synergistic means of enhancing overall well-being.

Fortified foods, a subset of functional foods, are specifically designed to offer additional nutrients and health benefits. They combine essential nutrients with bioactive compounds, addressing specific health concerns and supporting overall well-being. Functional ingredients play a crucial role in conferring health-promoting properties to functional foods by providing targeted benefits beyond basic nutrition. This makes functional foods a potent vehicle for delivering precise and personalized nutrition, contributing to the improvement of overall health and wellness.

Among the types of functional foods, fiber-enriched foods are formulated with added dietary fiber to bolster digestive health, encourage regular bowel movements, and contribute to overall wellness. This approach makes the benefits of increased fiber intake easily accessible and convenient for consumers seeking to enhance their health through dietary choices.

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Market Dynamics
The market for sports nutrition is experiencing growth driven by the growing demand among consumers, particularly working professionals, for functional foods and dietary supplements. The increasing health consciousness and the continuous search for solutions to enhance nutritional balance contribute to the rising consumption of functional foods. Additionally, the positive outcomes of functional foods in reducing blood pressure and aiding in the prevention of chronic diseases have further elevated their popularity as nutritional ingredients.

Key players in the sports nutrition sector are actively launching new products, thereby stimulating market growth. For instance, on April 24, 2023, CJ FNT introduced the functional nutrition brand ActiveNrich to the market. This move is in response to consumer demand, with the new specialty brand focusing on nutritional solutions for both food and supplement categories. The innovative solution, developed through natural fermentation and featuring glutathione as its primary component, serves as the foundation for a variety of health-focused meals. Such product launches contribute to the overall expansion of the sports nutrition market, meeting the evolving needs and preferences of health-conscious consumers.

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Market Segmentation
By Ingredient
Probiotics
Minerals
Proteins & Amino Acids
Prebiotics & Dietary Fibers
Vitamins
Others

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

By Application
Sports Nutrition
Weight Management
Clinical Nutrition
Cardio Health

Market Key Players
Major players are Lotus Bakeries, Nestlé S.A., Hearthside Food Solutions LLC, Valio Eesti AS, The Kellogg's Company, Abbott Laboratories, PepsiCo Inc., Danone SA, Clif Bar & Company and General Mills.

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