Press release
Functional Foods Market Report: Latest Insights, Growth Rate, Future Trends And Forecast To 2033
Functional Foods Market Report
The Business Research Company offers in-depth market insights through Functional Foods Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The functional foods market size has grown rapidly in recent years. It will grow from $251.66 billion in 2023 to $282.11 billion in 2024 at a compound annual growth rate (CAGR) of 12.1%. The growth in the historic period can be attributed to increasing health awareness, aging population, preventive healthcare trend, scientific research and nutritional advancements, rising incidence of lifestyle diseases.
The functional foods market size is expected to see rapid growth in the next few years. It will grow to $421.65 billion in 2028 at a compound annual growth rate (CAGR) of 10.6%. The growth in the forecast period can be attributed to changing dietary patterns, personalized nutrition trends, expanding middle-class population, focus on gut health, clean label and natural ingredients. Major trends in the forecast period include advancements in food technology, rising consumer awareness of health and wellness, emphasis on gut health, innovation in ingredients and formulations, digitalization of nutrition and personalized diets.
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Market Segmentation:
The functional foods market covered in this report is segmented -
1) By Product Type: Bakery & Cereals, Dairy Products, Meat, Fish & Eggs, Soy Products, Fats & Oils, Other Product Types
2) By Ingredients: Carotenoids, Dietary Fibers, Fatty Acids, Minerals, Prebiotics & Probiotics, Vitamins, Other Ingerdients
3) By Application: Sports Nutrition, Weight Management, Immunity, Digestive Health, Clinical Nutrition, Cardio Health, Other Applications
Major Driver - Rising Disease Rates Drive Demand For Functional Foods: A Focus On Health And Prevention
The increasing number of diseases is shifting consumers' focus to healthy eating, which in turn is projected to boost the demand for functional foods. Functional food provides the human body with healthy nutrition, vitamins and minerals, and reduces the risk of diseases. According to the Centers for Disease Control and Prevention, heart disease is a leading cause of death in the USA, and about 6,47,000 Americans die from heart disease every year, which is one out of every four deaths. Therefore, the increasing number of cardiovascular and other diseases across the globe is anticipated to generate higher demand for a healthy diet, which in turn, is likely to propel the revenues of the functional food market over the forecast period.
Competitive Landscape:
Major companies operating in the functional foods market report are Nestlé Alimentana SA, BASF SE, PepsiCo Inc., Unilever plc, Abbott Laboratories, The Coca-Cola Company, GlaxoSmithKline Company, Mondelez International Inc., Danone SA, Kraft Foods Inc., General Mills Inc., Royal FrieslandCampina NV, Kellogg Company, Kirin Holdings Company Ltd., Dr PepperSnapple Group Inc., Red Bull GmbH, Ajinomoto Co. Inc., Meiji Holdings Company Ltd., Givaudan SA, Glanbia plc, Barilla Holding SpA, Arla Foods UK plc, Ocean Spray Cranberries Inc., Sanitarium Health and Wellbeing Company, Raisio Oyj, Lifeway Foods Inc., GFR Pharma Ltd., BNL Food Group Inc., Suiza Foods Corporation, Murray Goulburn Co-Operative Co. Limited
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https://www.thebusinessresearchcompany.com/report/functional-foods-global-market-report
Top Trend - Recent Innovations And Market Expansion Strategies In The Functional Food Industry
Key players dealing in the 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, a New Zealand-based dairy company, Tillamook Country Creamery Association (TCAA), and Three Mile Canyon Farm, introduced Pro-Optima, an A-grade functional whey protein concentrate. Pro-Optima can be used in cultured products such as yogurt to enhance the textures and deliver multi-functional benefits.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Functional Foods Market Characteristics
3. Functional Foods Market Trends And Strategies
4. Functional Foods Market - Macro Economic Scenario
5. Functional Foods Market Size And Growth
…..
27. Functional Foods Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.
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