Health food for fitness concept with fresh fruit, vegetables, pulses, herbs, spices, nuts, grains and pulses. High in anthocyanins, antioxidants,smart carbohydrates, omega 3 fatty acids, minerals and vitamins.
Precedence Research recently published a report on “Functional Food Market (By Product: Dairy Products, Bakery & Cereals, Meat, Fish & Eggs, Fats & Oils, Soy Products, and Others; By Ingredient: Dietary Fibers, Carotenoids, Minerals, Fatty Acids, Vitamins, Prebiotics & Probiotics, and Others; By Application: Weight Management, Sports Nutrition, Digestive Health, Immunity, Cardio Health, Clinical Nutrition, and Others) – Global Market Size, Trends Analysis, Segment Forecasts, Regional Outlook 2020 – 2027”. Amid the COVID-19 crisis, The global functional food market size is projected to reach USD 309 billion by 2027 from an estimated USD 173.26 billion in 2019, at a CAGR of 7.5% from 2020 – 2027.
The market revenue/volume with the help of widespread quantitative and qualitative insights, and forecasts of the market. This report presents breakdown of market into forthcoming and niche segments. Additionally, this research study gauges market revenue growth and its drift at global, regional, and country from 2016 to 2027. This research report evaluates functional food market on a global and regional level. It offers thorough analysis of market status, growth and forecast of the global functional food market for the period from 2016 to 2027. This research study offers historic data for years 2016 to 2027 along with a forecast from 2020 to 2027 based on value.
Functional foods are ingredients that provide health benefits that extend beyond a human’s nutritional value. For example, they may prevent nutrient deficiencies, protect against disease, and promote proper growth & development. Some types of functional foods contain supplements or other additional ingredients that are designed to improve the health.
Scope of the Study
This functional food market report studies market dynamics, status and outlook especially in North America, Europe and Asia-Pacific, Latin America, Middle East and Africa. This research report offers scenario and forecast (revenue/volume), and categorizes market by players, type, application, and region. This report also studies global market prominence, competitive landscape, market share, growth rate market dynamics such as drivers, restraints and opportunities, and distributors and sales channel.
This research study also integrates Industry Chain analysis and Porter’s Five Forces Analysis. Further, this report offers competitive scenario which comprises collaborations, market concentration rate and expansions, mergers & acquisitions undertaken by companies.
Growth Factors
The increasing prevalence of chronic diseases prompts consumers to shift towards healthier food consumption habits. Rising interest of consumer regarding immunity benefits of a proper diet accounts for the key factor that drives the growth of functional foods market across the globe. Geriatric population believed to get the maximum benefit from functional foods because of age-related health problems. Consequently, burgeoning geriatric population across the globe expected to bolster the market growth. Moreover, the rising disposable income along with increasing demand for fortified food & beverage products leads to increased uptake of functional foods this in turn propels the growth of the market.
On the other hand, high prices of several functional food products limit their adoption that in turn expected to hamper the overall market growth over the forecast timeframe. In addition, downturn in the global economy has impelled consumer to switch towards low priced products and groceries. Furthermore, as per a research conducted on consumer perception on the functional food products regarding their health claims found to be limited. Thus, the above-mentioned factors expected to restrict the adoption functional food across globe on a larger scale. Additionally, food safety and related regulations also accounts to restrict the market growth. Nonetheless, rising population across developing countries expected to propel the market growth over the forecast timeframe.
Report Highlights
Regional Snapshots
The Asia Pacific emerged as the dominant market in the year 2019 because of a substantial rise in the disposable income of consumers. The functional food industry is also strengthened by the favorable support offered by the government bodies in various countries of the region. Further, to for rising combat concerns related to malnutrition various regulatory bodies have increased their focus on food fortification. This has significantly influenced the consumer behavior, thereby drives the demand for functional food products in the region.
Key Players:
This report also provides detailed company profiles of the key market players. This research report also highlights the competitive landscape of the functional food market and ranks noticeable companies as per their occurrence in diverse regions across globe and crucial developments initiated by them in the market space. This research study also tracks and evaluates competitive developments, such as collaborations, partnerships, and agreements, mergers and acquisitions; novel product introductions and developments, promotion strategies and Research and Development (R&D) activities in the marketplace. The competitive profiling of these players includes business and financial overview, gross margin, production, sales, and recent developments which can aid in assessing competition in the market.
Some of the prominent players in the functional food market include:
Segments Covered in the Report
This research study comprises complete valuation of the market revenue with the help of widespread quantitative and qualitative insights, and prognoses of the market. This report presents breakdown of market into forthcoming and niche segments. Additionally, this research study gauges market revenue growth and its drift at global, regional, and country from 2016 to 2027. This report includes market division and its revenue assessment by categorizing it depending on product, ingredient, application, and region:
By Product
By Ingredient
By Application
By Regional Outlook
Key Takeaways
TABLE OF CONTENT
Segments Covered in the Report
This research study comprises complete valuation of the market revenue with the help of widespread quantitative and qualitative insights, and prognoses of the market. This report presents breakdown of market into forthcoming and niche segments. Additionally, this research study gauges market revenue growth and its drift at global, regional, and country from 2016 to 2027. This report includes market division and its revenue assessment by categorizing it depending on product, ingredient, application, and region:
By Product
By Ingredient
By Application
By Regional Outlook
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