Functional Foods Market was valued at USD 233,620.18 Million in 2021 and is projected to reach USD 418,439.42 Million by 2028
It is expected to grow at a CAGR of 8.7% from 2021 to 2028. Functional foods are modified foods that claim to be beneficial to health. It does not cure disease, but it helps minimize the risk of fatal diseases by improving the health of the body by supplying essential minerals and proteins.
New York, April 21, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Functional Foods Market Forecast to 2028 – COVID-19 Impact and Global Analysis By Product Type, Category, and Distribution Channel” – https://www.reportlinker.com/p06270003/?utm_source=GNW
Functional foods in the diet improve the physiological state of individuals. Functional foods are fortified with functional nutrients and the basic nutritional content of the product to provide various health-related benefits.
Amino acids, vitamins, minerals, proteins, fatty acids and prebiotics are examples of nutrition. Due to increasing consumer awareness, functional products have gained popularity.
Nowadays, when a pandemic like COVID-19 has swept the world and everyone is concerned about increasing their immunity, functional foods are getting very popular, which is driving the growth of the functional foods market .
Based on product type, the functional food market is segmented into bakery & confectionery, dairy & frozen desserts, sweet & savory snacks, breakfast cereals and others. The dairy and frozen desserts segment accounted for the largest market share in 2020.
Dairy products include milk-based foods such as butter, cheese, ice cream, yogurt, and condensed and powdered milk. Consumers are increasingly consuming dairy products because they are important for building healthy bones and maintaining a healthy weight.
Yogurt is increasingly being used as a functional food due to its high nutritional value and tremendous health benefits. Different fruits such as peaches, cherries, apricots, papaya, and blueberries are used to make yogurt to provide different flavors and make it healthier and more nutritious.
Based on region, the functional food market is segmented into North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America (SAM). In 2020, Asia-Pacific held the largest global functional food market share, and it is expected to register the fastest growth over the forecast period.
The changing lifestyle preferences in Asia-Pacific are having a significant impact on the growth of the Asia-Pacific functional foods market. People are increasingly consuming products that provide functional benefits.
With increasing consumer health awareness, the demand for functional food products continues to grow.
Moreover, according to the Asia-Pacific Observatory on Health Systems and Policies, most countries in Asia-Pacific will experience rapidly aging societies over the coming decades. The high proportion of deaths in Asia-Pacific is caused by chronic non-communicable diseases (NCDs), Southeast Asia and Western Pacific.
The main non-communicable diseases include cardiovascular diseases, diabetes, cancers and chronic respiratory diseases. The increased prevalence of chronic diseases has led to an increased focus on personal health and well-being.
Consumers are increasingly demanding food products that will provide certain health and nutritional benefits. This will accompany the evolution of consumer lifestyles.
The US Functional Food Center (FFC) has stated that functional foods have scientifically proven benefits for improving overall health and minimizing the impacts of chronic disease. These foods also contain essential nutrients that can help prevent chronic disease. Thus, the increasing prevalence of chronic diseases is driving the growth in demand for functional foods in the region.
The major players in the functional food market are Unilever; Clif Bar & Company; superfood; Abbott; Danone SA; General Mills, Inc.; Hildur; Nestle; Kellogg Company; and Good Source Foods, LLC.
The overall size of the Global Functional Foods Market has been derived using primary and secondary sources. To begin the research process, extensive secondary research was conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
Additionally, several primary interviews were conducted with industry participants to validate the data and gain more analytical insights on the topic. Participants in this process include industry experts such as vice presidents, business development managers, market intelligence managers, national sales managers and external consultants such as valuation experts, research analysts and key opinion leaders specializing in the functional foods market.
Read the full report: https://www.reportlinker.com/p06270003/?utm_source=GNW
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