The global functional food market size is expected to grow from $180.58 billion in 2021 to $191.68 billion in 2022 at a compound annual growth rate (CAGR) of 6.1%. The functional foods market is expected to grow to $243.83 billion in 2026 at a CAGR of 6.2%.
What is the Global Functional Foods Market?
The functional food market consists of sales of functional food and related services. Functional food is highly nutritious and is associated with many health benefits. The benefits include prevention against nutrition deficiencies, protection against diseases, improved cholesterol levels, lower blood pressure, and promote proper growth & development.
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What drives the Global Functional Foods Market?
The increasing number of diseases is shifting consumer's focus on healthy eating, which in turn, is projected to boost the demand for functional foods. Functional food provides the human body with healthy nutrition, vitamins & minerals, and reduce the risk of diseases. According to the Centre 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 of every 4 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 for the functional food market over the forecast period.
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Global Functional Foods Market Segments
The global functional foods market is segmented:
By Product Type: Bakery and Cereals, Dairy Products, Meat, Fish and Eggs, Soy Products, Fats and Oils, Others
By Ingredients: Carotenoids, Dietary Fibers, Fatty Acids, Minerals, Prebiotics and Probiotics, Vitamins, Others
By Application: Sports Nutrition, Weight Management, Immunity, Digestive Health, Clinical Nutrition, Cardio Health, Others
By Geography: The regions covered in the functional foods market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Functional Foods Global Market Report 2022provides market size and growth forecasts for the global functional foods market, global functional foods market share, functional foods market segments and geographies, functional foods market competitive landscape including leading competitors’ revenues, profiles and market shares. The functional foods market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Global Functional Foods Industry Playersinclude Unilever, BNL Food Group, Dean Foods, The Coca-Cola Company, Arla Foods, Abbott Laboratories, PepsiCo Inc., Kraft Foods Inc., and Nestle. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.
