Global Immunity Boosting Food Products Market

Functional Beverages Market Definition

The functional beverages market consists of sales of functional beverages by entities (organizations, sole traders and partnerships) that produce non-alcoholic beverages. A functional beverage is a type of non-alcoholic beverage with an additional benefit through its formulation, often in the form of a health aid or performance-enhancer product. Functional beverages contain non-traditional ingredients such as minerals, vitamins, probiotics, dietary fibers, and added fruits. The companies in the functional beverages industry process raw materials into drinks, package and distribute them through various distribution channels to both individual customers and commercial establishments. The functional beverages market covered in this report includes energy drinks, sports drinks, nutraceutical drinks, dairy-based beverages, juices, enhanced water, and other functional beverages/drinks.

The amla extract market consists of sales of the amla extract products by entities (organizations, sole traders and partnerships), which refers to extracts from Indian gooseberry (Phyllanthus emblica). Amla extracts consists of amla powders, amla pulp, oils, capsules and others. Amla extract is a high medicinal ayurvedic plant that contains anti-inflammatory properties and can be used in herbs and botanicals and is used by the cosmetic, pharmaceutical and wellness industries. The main types of amla extracts include powder and pulp. The amla powder refers to powder that is made from the ground-up leaves of the amla leaves, used in Ayurvedic medicine and in cosmetic products. The different applications of amla extract include food and beverages, pharmaceuticals, personal care and cosmetics and nutraceuticals for end-uses such as diabetes, radiation protection, skin and collagen and heartbeat. The global amla extract market size is expected to grow from $37.70 billion in 2021 to $39.20 billion in 2022 at a compound annual growth rate (CAGR) of 3.98%. The growth in the market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The global amla extract market size is expected to reach $45.87 billion in 2026 at a CAGR of 4.01%. The rising health consciousness is driving the amla extracts market growth. Amla extracts are better known for their medicinal values, and they are also used in various forms and thus has become an important ingredient in herbal medicines and Ayurvedic. Amla improves immunity, fights infections, aids weight management, relieves pain and others. According to the International Food Information Council's (IFIC) 2020 food and health survey, Americans have a strong interest in becoming more health-conscious, with 43% following a specific diet or eating pattern in 2020, up 38% from 2019. Thus, rising health consciousness is driving the amla extracts market. Amla caplets are the key trend gaining popularity in the amla extracts market. The companies in the amla extracts market are focusing to produce the amla caplets to expand their market share. A caplet is a compressed mixture of some ingredients, which will be similar to a tablet, but is formed into a capsule shape. Amla caplets are produced in a cGMP facility and contain no magnesium stearate or capsules made of no animal gelatin and no artificial tableting glues. For instance, in the year 2020, Indian pharmaceutical company, Himalaya launched the Amla 60 Caplets in the Amla extracts market. In July 2021, Indian consumer goods company, Marico Limited acquired Apco Naturals for an undisclosed amount. By this acquisition, Marico gains access to a range of ayurvedic and organic skin and hair care products and a strong portfolio of Apco Naturals’ Ayurveda-led beauty categories. Apco Naturals is an India based herbal products manufacturer. Major players in the amla extract market are Paradise Herbs & Essentials, Inc, Bhumi Amla, Ambe Phytoextracts Pvt. Ltd, Ri-Sun Bio-Tech, Sydler Group, Biomax, Taiyo International, Innophos Holdings, Patanjali Ayurveda, Jiva Botanicals LLC, Herbeno Herbals Pvt. Ltd., NutraGenesis, Xcul Amla Oil, Jaison Pvt and Neelamari Herbs Asia Pacific was the largest region in the amla extract market in 2021. Europe is expected to be the fastest-growing region in the global amla extract market during the forecast period. The regions covered in the global amla market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the amla extract market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The global amla extract market is segmented - 1) By Type: Powder, Pulp 2) By Application: Food and Beverages, Pharmaceuticals, Personal Care and Cosmetics, Nutraceuticals 3) By End-Use: Diabetes, Radiation Protection, Skin and Collagen, Heartbeat

The vitamins and mineral supplements market consists of sales of vitamins and mineral supplements that improve the health and wellness of the population. The sales comprise of revenue generated by the establishments manufacturing vitamins and minerals. Vitamins and mineral supplements are available without a prescription and come in tablets, powders or liquids and provide sufficient vital nutrients and minerals that preserve or boost an individual's health. The main types of vitamins and mineral supplements are multivitamin, single vitamin, multi mineral, single mineral. A multivitamin is a dietary supplement that contains all or most of the vitamins that the body does not produce. The various distribution channel involved are pharmacies and drug stores, supermarkets and hypermarkets and online channels that are used for energy and weight management, general health, bone and joint health, gastrointestinal health, immunity, cardiac health, diabetes, anti-cancer, and others. The global vitamins and minerals market size is expected to grow from $20.16 billion in 2021 to $21.37 billion in 2022 at a compound annual growth rate (CAGR) of 6.0%. The change in the vitamin and minerals market growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2020. The vitamin and mineral market is expected to reach $24.69 billion in 2026 at a CAGR of 3.7%. The growing use of dietary supplements in the modern lifestyle is a key factor driving the growth of the vitamins and mineral supplement market. Nutrition plays an important role in maintaining immune system balance, and supplementation with the micronutrients such as vitamins C and D, Zinc and omega fatty acids within recommended upper safety limits is a safe, effective and low-cost strategy to help support optimal immune function in patients fighting COVID-19 and other respiratory tract diseases. In the case of COVID-19 patients, a variety of high-protein and fibre foods, including cookies, bread and rolls, have been developed by the Indian Research Institute. For example, to improve children's immunity, dietary supplement company Avida Health has launched a chocolate ball functional food in Singapore. A nutritional focus on the immune system could help minimize the impact of the current COVID-19 pandemic and other infections. Therefore, the implementation of dietary supplements in the lifestyle is expected to drive the growth of the vitamins and mineral supplement market. The disruptions in supply chains for the production of supplements are a key factor hampering the growth of the vitamins and mineral supplement market. COVID-19 outbreak has led to restrictive containment measures involving social distancing and remote working, and the closure of industries and other commercial activities. The entire supply chain from production to international trade has been impacted. The economic crisis due to COVID-19 is also impacting dietary supplements by disrupting distribution networks. The supplements, which are economically important, have a fragile supply chain and failure in any stage of the supply chain from farms to dealers, haulers and distributors to manufacturers-can disrupt the entire chain. International Food Policy Research Institute (IFPRI) has gathered evidence of major disruptions to livestock production in China, and vegetables and fruits in Ethiopia, whereas Indian news reported a full-blown collapse in the production of dairy products, which is especially worrying the countries where milk and milk products remain key sources of primary nutrients for young children. Therefore, disruptions in supply chains for nutrient-rich foods are expected to hinder the growth of the vitamins and mineral supplement market. Consumer preference moving towards organic supplements is a key trend in the vitamins and mineral supplement market. There was a suggested transition towards vegan & organic food in 2020, and this trend will shortly become a lifestyle for many people as COVID-19 is taking the world by storm. As a lot of people globally believe that the COVID crisis is associated with the consumption of animal meat, people will become more cautious of the food they consume and this can result in a significant rise in the demand for organic and vegan food products. Many small and medium enterprises have started to promote plant-based goods and diets in the product space. The coronavirus pandemic is accelerating the trend for organic food supplements. In April 2020, American Regent Inc, a US manufacturer of pharmaceuticals for human and veterinary use with manufacturing sites in New York and Ohio, acquired Daiichi Sankyo for an undisclosed amount. This acquisition increases American Regent’s production and provides the opportunity to explore other products to manufacture, allowing the company to continue to find innovative ways of responding to customer needs. Daiichi Sankyo is a pharmaceutical company with its corporate origin in Japan. Major players in the vitamins and minerals supplements market are Salus Haus, Pfizer, Daiichi Sankyo, AMWAY, Eisai, Sanofi, GNC, CSPC Pharmaceutical Group, DSM, Otsuka Holdings Co. Ltd, Puritan’s Pride, Pharmavite, Jamieson, Webber Naturals, Hainan Yangshengtang, Nature’s Bounty, CCMP Capital, Pharmavite, Suntory Holdings Ltd, Glanbia PLC, Glaxosmithkline PLC, Abbott Laboratories, Bayer AG, Puritan's Pride, General Nutrition CentersInc., Webber Naturals, CSPC Pharmaceutical Group, and Hainan Yangshengtang. North America was the largest region in the vitamins and minerals supplements market in 2021. The Middle East is expected to be the fargest growing region in the forecast period. The regions covered in the vitamin and minerals market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the vitamins and minerals supplements market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA. The global vitamin and minerals market is segmented - 1) By Type: Multivitamin, Single Vitamin, Multi Mineral, Single Mineral 2) By Application: Energy and Weight Management, General Health, Bone and Joint Health, Gastrointestinal Health, Immunity, Cardiac Health, Diabetes, Anti-Cancer, Others 3) By Distribution Channel: Pharmacies and Drug Stores, Supermarkets and Hypermarkets, Online Channels 4) By End-User: Adults, Geriatric, Pregnant Women, Children, Infants

The multivitamin capsules and tablets market consists of sales of multivitamin capsules and tablets by entities (organizations, sole traders, and partnerships) that produce multivitamin capsules and tablets which are used to provide vitamins. Multivitamins tablets and capsules are a combination of many different vitamins that are normally found in foods and other natural sources. Multivitamins are used to treat vitamin deficiencies that are caused by illness, pregnancy, poor nutrition, digestive disorders, and different other conditions. The main types of products include multivitamins tablets and multivitamins capsules. A multivitamin is a pill that people take every day which contains a variety of vitamins and minerals. The different distribution channels include store-based, non-store-based and are used for energy and weight management, general health, bone, and joint health, gastrointestinal health, immunity, cardiac health, diabetes, anti-cancer, and other applications. These capsules and tablets are mainly used by adults, the geriatric population, pregnant women, children, and infants. The global multivitamin capsules and tablets market size is expected to grow from $18.24 billion in 2021 to $19.98 billion in 2022 at a compound annual growth rate (CAGR) of 9.5%. The change in the multivitamin capsules and tablets market growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2020. The market is expected to reach $27.33 billion in 2026 at a CAGR of 8.1%. Increasing health consciousness among individuals is driving the market for multivitamin capsules and tablets. Multivitamins tablets or capsules are often prescribed by doctors to treat or prevent vitamin deficiency due to poor diet, certain illnesses, or during pregnancy as it contains different vitamins that are normally found in foods and other natural sources. The demand for multivitamins also increased attributing to rising health concerns associated with the COVID-19 pandemic. According to SVC Labs Ltd, a UK-based supplement manufacturer the sales for vitamins, minerals and supplements have increased since the beginning of March 2020 as people are concerned with boosting immune health. The sales of vitamins, minerals, and supplements have experienced growth of approximately 20%-140% since March 2020. Therefore, rising health consciousness is expected to drive the multivitamin capsules and tablets market during the forecast period. Shifting consumer focus towards flavored gummy vitamins for all ages is shaping the multivitamin capsules and tablets market. Consumers are searching for more convenient and entertaining supplement experiences, which will lead to a move toward flavored gummy vitamins. For instance, in April 2021, Persona Nutrition, a US-based company that provides personalized daily supplement packs launched daily gummy vitamin packs for the entire family. These daily packs are designed to help users achieve specific health goals, such as immune health, focus, relaxation, everyday support, and hair, skin, and nail health. This family pack includes multivitamins to boost muscle and nerve function. In April 2019, Unilever Limited, a UK-based consumer goods company acquired OLLY Nutrition for an undisclosed amount. This acquisition will complement Unilever’s businesses in beauty & personal care and foods & refreshment. OLLY Nutrition is a US-based company specializing in manufacturing and selling vitamins, minerals, supplements. Major players in the multivitamin capsules and tablets market are Herbalife Nutrition, Abbott Laboratories, Bayer, Nature's Bounty Co., Bionova Lifesciences, Ayanda GmbH, NutraMarks Inc, American Health Inc, Otsuka Holdings Co. Ltd. and Nature's Way Products. Asia Pacific was the largest region in the multivitamin capsules and tablets market in 2021. North America was the second-largest market in the multivitamin capsules and tablets market. The regions covered in the multivitamin capsule and tablet market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the multivitamin capsules and tablets market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA. The global multivitamins market is segmented - 1) By Type: Multivitamins Tablets, Multivitamins Capsules 2) By Distribution Channel: Store Based, Non-Store Based 3) By Application: Energy and Weight Management, General Health, Bone and Joint Health, Gastrointestinal Health, Immunity, Cardiac Health, Diabetes, Anti-Cancer, Others 4) By End-User: Adults, Geriatric, Pregnant Women, Children, Infants

The plant-based protein market consists of sales of proteins by entities (organizations, sole traders, and partnerships) that are derived from plant-based sources. Plant-based proteins are becoming more popular as meat substitutes because they are highly nutritious and include nutrients such as fibre, vitamins, and minerals in addition to proteins. The main types of plant-based protein are isolates, concentrates and textured. Plant-based protein isolates are consumed in an isolated form after being chemically extracted into a powder from the whole food. Plant-based proteins are derived from various sources such as soy, wheat, pea, others and are available in both dry and liquid forms. It is used in feed, food and other applications. The global plant-based protein market size is expected to grow from $13.18 billion in 2021 to $14.58 billion in 2022 at a compound annual growth rate (CAGR) of 10.6%. The change in growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic. The market is expected to reach $21.29 billion in 2026 at a CAGR of 9.9%. The increasing awareness of health and wellness is expected to propel the growth of the plant-based protein market during the forecast period. Plant-based proteins are good for weight loss and provide building blocks for healthy muscles and tissues. They are high in fiber and contain less amount of calories & fats than animal protein. For instance, according to a poll by E times in 2021, the COVID-19 pandemic has transformed Indians' attitudes toward health, with 70% saying they will prioritise food and lifestyle adjustments in 2021 to manage both physical and emotional health. Therefore, the increasing awareness of health and wellness drives the growth of the plant-based protein market. Plant-based meat substitutes are gaining significant popularity in the plant-based proteins market. Plant-based meat alternatives are the priority of major companies operating in the plant-based proteins sector attributing to various benefits such as being ecologically friendly, aiding in weight loss, preventing chronic illnesses, and regulating cholesterol and blood sugar levels. For instance, in July 2021, Nature’s Fynd, a US-based company which develops microbe-based proteins for meat and dairy substitutes has raised over $158 million in funds for the launch of its meatless breakfast products including patties, burgers chicken-less nuggets, and others. Additionally, according to the Plant-Based Foods Association, the alternative foods sector exploded in 2020, increasing U.S. retail sales by 27% and boosting the entire market value to $7 billion. In August 2021, WM Partners, a US-based private equity firm acquired Vega for an undisclosed amount. The acquisition is expected to benefit WM partners by expanding their HPH II’s portfolio of brands and leverage the distribution strengths of Vega. Vega is a Canada-based company that produces plant-based proteins. Major players in the plant-based protein market are Archer Daniels Midland Company (ADM), DuPont Nutrition & Biosciences, Axiom Foods Inc., Cargill, Kerry Group, Ingredion Incorporated, Roquette Freres, Wilmar International Limited, Glanbia Plc, Cosucra Groupe Warcoing SA, Sotexpro, Emsland Group, and PURIS Foods. North America was the largest region in the plant-based protein market in 2021. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the plant-based protein market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The global plant-based protein market is segmented - 1) By Type: Isolates, Concentrates, Textured 2) By Source: Soy, Wheat, Pea, Others 3) By Form: Dry, Liquid 4) By Application: Feed, Food, Others

The functional food ingredients market consists of sales of functional food ingredients by entities (organizations, sole traders, and partnerships) that are bioactive compounds or ingredients used in manufacturing functional food products. Vitamins, minerals, antioxidants, hydrocolloids, prebiotics, amino acids, plant extracts, and carotenoids are some examples of functional food ingredients. The ingredients in functional foods provide health benefits, and some of them include supplements or other additives. The main types of functional food ingredients are probiotics and prebiotics, carotenoids, dietary fibers fatty acids, vitamins, minerals, and others. Carotenoids are fat-soluble pigments found generally in fruits, flowers, plants, algae, and photosynthetic bacteria. They are also found in some non-photosynthetic bacteria, molds, and yeasts. Carotenoids act as a type of antioxidant for humans and are important for human health. It protects the human body against serious disorders such as heart disease, cancer, and degenerative eye disease. The different sources include natural, synthetic and are used in beverages, dairy products, infant food, bakery and confectionery, others. The global functional food ingredients market size is expected to grow from $93.09 billion in 2021 to $101.27 billion in 2022 at a compound annual growth rate (CAGR) of 8.8%. The global functional food ingredient market size is expected to grow to $137.3 billion in 2026 at a CAGR of 7.9%. The rise in demand for fortified food & beverage products is expected to contribute to the growth of the functional food ingredients market. Fortified foods are functional foods that lack natural nutrients; nutrients are added to them. These foods boost nutrition and provide health advantages. Fortified foods are functional foods without natural nutrients in them, nutrients are added to them, and these foods improve nutrition, add health benefits. Fortified foods & beverage products consumption is increasing due to growing health consciousness in consumers, increasing disease occurrences, increasing consumer’s disposable income. The medicinal properties of these foods in providing healing benefits apart from energy and essential nutrients are motivating consumers to spend more on healthy food products. According to the Kerry Group study, in 2019, 65% of consumers seek functional benefits in their food & beverages, and apple cider vinegar sales as a grown-up by 86% for its digestive and blood sugar managing properties. Therefore, the rise in demand for fortified food & beverage products will drive the functional food ingredients market growth. Collaborations and partnerships are are key trends gaining popularity in shaping the functional food ingredients market. Major companies operating in the functional food ingredients sector are focused on partnering or collaborating with other companies to develop innovative solutions for functional food ingredients. For instance, in December 2019, Cargill, a US-based food company, and Renmatix, a US-based plant ingredient innovations company, signed a joint development agreement (JDA) to explore a novel approach for making functional food ingredients from unutilized plants material. This agreement was to manufacture highly functional food ingredients. The companies will use Renmatix’s Plantrose Process, which is a proprietary water-based technology, and Cargill’s preferred feedstocks. In July 2021, Kerry Group, an Irish-based food company announced that it is acquiring Biosearch Life for a $150 million deal amount. Through this acquisition, Kerry Group can expand its healthy ingredient portfolios such as probiotics and omega-3. The expansion of a healthy ingredient portfolio can boost its capabilities within functional foods and proactive health ingredients. Biosearch Life, based in Spain, is a biotechnology company that manufactures healthy natural ingredients such as Omega-3, Probiotics, Botanical Extracts. Major players in the functional food ingredients market are Cargill, BASF, Archer Daniels Midland, DuPont Nutrition & Biosciences, Arla Foods, Kerry Group, Ajinomoto, DSM, Ingredion Incorporated, Tate & Lyle, Roquette Frères, Nestle, Fuerst Day Lawson, Ashland, A&B Ingredients, and Royal Cosun. North America was the largest region in the functional food ingredients market in 2021. Europe was the second-largest market in the global functional food ingredients market. The regions covered in the global functional food market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the functional food ingredients market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The global functional food ingredients market is segmented - 1) By Type: Probiotics and Prebiotics, Carotenoids, Dietary Fibers, Fatty Acids, Vitamins, Minerals, Others 2) By Source: Natural Synthetic 3) By Application: Beverages, Dairy Products, Infant Food, Bakery and Confectionery, Others

The dried fruits market consists of sales of dried fruits. The market consists of revenue generated by establishments that are engaged in the production of dried fruits. Dried fruit is a fruit that has been preserved by dehydrating or drying to concentrate the flavor or sweetness and to extend the shelf life. In dried fruits, the bulk of its original water content is removed, either naturally, by sun drying, or artificially, by using specialized dryers or dehydrators. The main types of dried fruits are apricots, dates, raisins, figs, berries, and others. Apricots, sometimes known as Armenian plums, are a type of stone fruit. Dried apricots are used to improve bone mineral density and helps in promoting eye health. The different categories include conventional, organic and are used in confectioneries, dairy products, bakery products, snacks and bars, desserts, cereals, others. The global dried fruits market size is expected to grow from $7.05 billion in 2021 to $7.79 billion in 2022 at a compound annual growth rate (CAGR) of 10.5%. The global dried fruit market size is expected to grow to $10.14 billion in 2026 at a CAGR of 6.8%. The growing population of healthier consumers is expected to propel the growth of the dried fruits market in the coming years. Healthy eating has become the norm, with most customers intending foods and beverages to meet progressively nuanced health, wellness morality, and sustainability criteria. Dry fruits are a good source of protein, vitamins, minerals, and dietary fiber and are considered a good replacement for high-calorie snacks. According to the survey commissioned by biotechnology startup Gelesis in January 2021, 60% of Americans would like to feel healthier and 51% want to reduce weight by practicing and modifying their diets, which includes attempting to eat more plant-based foods. Therefore, the growing population of healthier consumers drives the growth of the dried fruits market. The launch of new flavored dried fruits has emerged as a key trend in the dried fruits market. Major players operating in the dried fruits sector are focused on introducing new flavored dried fruits into the market to strengthen their position. For instance, in April 2019, Traina, a US-based company that produces dried fruits launched two new flavors such as Natural Cherry and the Summer Blend for summer. Natural Cherry is made with cherries, whereas Summer Blend is made with dried peaches, nectarines, and plums. In April 2021, Hyle Capital Partners, a private equity firm based in Italy acquired a majority stake in Manuzzi for an undisclosed amount. This acquisition helps to accelerate growth and strengthen Manuzzi’s position within the major retail chains in Italy. Manuzzi is an Italy-based company that produces dried fruit and nuts. Major players in the dried fruits market are Sunbeam Foods Group Ltd., Sun-Maid, Bergin Fruit and Nut Company, Traina Foods, Sunsweet, Lion Raisins Inc, Murray River Organics Gr, National Raisin Company, Geobres, Angas Park, AL FOAH, Royal Nut Company, Tulsi Nuts and Dryfruits, Valley Harvest Nut Company, Paradise Fruits, and Kiantama Oy. Asia Pacific was the largest region in the dried fruits market in 2021. North America was the second-largest region in the global dried fruits market. The regions covered in the global dried fruits market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the dried fruits market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The global dried fruits market is segmented - 1) By Type: Apricots, Dates, Raisins, Figs, Berries, Others 2) By Category: Conventional, Organic 3) By Application: Confectioneries, Dairy Products, Bakery Products, Snacks and Bars, Desserts, Cereals, Others

The market for specialty foods consists of sales of specialty foods and their related services. Specialty foods are made from high quality ingredients and have limited distribution with unique or beautiful packaging. The specialty foods consist of cheese & plant-based cheese, non-RTD cocoa and coffee, refrigerated and frozen poultry/seafood/meat, yogurt, candy, pretzels/snacks/chips, bread & baked goods, and others. The main product type are cheese and plant-based cheese, frozen or refrigerated meat, poultry, and seafood, chips, pretzels, and snacks, bread and baked goods, chocolate and other confectionery, and others. Cheese is nutritious food made mostly from the milk of cows and also from other mammals, including sheep, goats, buffalo, reindeer, camels and yaks. Plant based cheeses are made from a variety of nuts, most commonly cashews, almonds, and macadamias. The various type of distribution channels are food service, retail, and online. The global specialty foods market size is expected to grow from $158.87 billion in 2021 to $170.21 billion in 2022 at a compound annual growth rate (CAGR) of 7.1%. The global specialty food market size is expected to grow to $224.88 billion in 2026 at a CAGR of 7.2%. The growth in the number of millennials preferring at-home and healthy meals coupled with growing interest in having nutritious food for a healthy lifestyle is increasing the demand for specialty foods. According to Specialty Foods Association (SFA), millennials are twice likely to plan at-home meals and giving high preferences for specialty products to create interesting and healthy eating experiences. Moreover, according to the research from the NDP Group in 2019, millennials, gen X, and baby boomers are expected to eat more meals at home. Thus, growth in at-home cooking activities of millennials and preferences for healthy foods is anticipated to boost the revenue for specialty foods market over the forthcoming years. The high cost of specialty food is likely to hinder the growth of the specialty foods market during the period. Specialty foods are made from high-quality ingredients such as gluten-free, non-GMO, and ingredients rich in vitamins and minerals, thus include a higher cost of raw materials. According to specialty foods association, the high cost of ingredients, certifications, and production is increasing the prices of specialty foods making it unaffordable for the large group of the populace. Therefore, the high cost of specialty foods is predicted to hinder the growth of the specialty foods market during the forecast period. The launch of high quality and innovative products such as plant-based, convenience, better-for-you, non-GMO products with authenticity, and products with unique attributes such as low fat, low calorie, low sodium, high protein, no dairy and organic is a major trend shaping the growth of the specialty foods industry. For instance, in February 2020, PANOS Brands, engaged in production and sales of a unique portfolio of specialty and natural brands announced the launch of its new products which includes Amore Organic Ready-To-Eat Legumes, KA•ME Asian Rice Crackers, Amore Organic Ready-To-Eat Legumes, Chatfield’s premium allergen-safe Organic Baking Bars, Andrew & Everett rBGH-BST Hormone Free Melting Cheese, and MI-DEL Organic Apple Cinnamon Cookies. Therefore, the launch of new innovative and healthy products is likely to be a major trend driving the sales of the specialty foods industry. In April 2021, Brazilian based JBS SA, a meat processing company, announced that it will acquire Vivera, a European plant-based food company, for €341 million ($410 million). The deal includes three manufacturing facilities and a research and development center located in the Netherlands. This acquisition is an important step to strengthen JBS SA global plant-based protein platform, for the same Vivera will give JBS a stronghold in the plant-based sector, with technological knowledge and capacity for innovation. Vivera produces a range of plant-based meat replacement products and these products are distributed to retailers in more than 25 countries across Europe. Major players in the specialty foods market are Compass Group, Chobani, World Central Kitchen, Eden Creamery, AeroFarms, Safe Catch Foods, Union Wine Co., Daily Harvest, a2 Milk, Amy’s Kitchen Asia Pacific was the largest region in the speciality foods market in 2021. Western Europe was the second-largest region in the global speciality food market.The regions covered in the global specialty food market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the specialty foods market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The global specialty foods market is segmented - 1) By Product Type: Cheese and Plant-Based Cheese, Frozen or Refrigerated Meat, Poultry, and Seafood, Chips, Pretzels, and Snacks, Bread and Baked Goods, Chocolate and Other Confectionery, Others 2) By Distribution Channel: Food Service, Retail, Online 3) By Consumer Generation: Gen-Z, Millennials, Gen-X, Baby Boomers