Global Functional Food Market, By Product Type (Bakery Products, Breakfast Cereals, Snack/Functional Bars, Dairy Products, Baby Food, Other Product Types), Distribution Channel (Supermarkets/Hypermarkets, Specialist Retailers, Convenience Stores, Online Retail, Other Distribution Channels), Country (U.S., Canada, Mexico, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, U.A.E, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa) Industry Trends and Forecast to 2028.
Market Analysis and Insights: Global Functional Food Market
The functional food market is expected to witness market growth at a rate of 7.3% in the forecast period of 2021 to 2028. Data Bridge Market Research report on functional food market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market’s growth. The growth in awareness globally is escalating the growth of functional food market.
Functional food refer to the type of modified food products that are considered to enhance health of a human. These food products do not cure disease but, help to reduce the risk of deadly diseases by enhancing the health of the body by offering essential nutrients and proteins. Functional food in the diet provides benefits to individual physiological state.
The increase in the health consciousness across the globe acts as one of the major factors driving the growth of functional food market. The rise in incidences of chronic diseases such as diabetes and cancer, and growth in health awareness among consumers leading to increased consumption of healthier diets accelerate the market growth. The research and development and expansion of production capacity to improve applicability, and surge in consumption of nutritive convenience and fortified food further influence the market. Additionally, media influence on consumer, surge in spending on food, rise in disposable income and mandates on food fortification by government organizations positively affect the functional food market. Furthermore, rise in demand for alternative sources to obtain omega-3 and development of different techniques to create high-value natural carotenoids extend profitable opportunities to the market players in the forecast period of 2021 to 2028.
On the other hand, higher cost associated with the functional food products due to the inclusion of healthier or naturally sourced ingredients and increase in instances of allergies and intolerances related to few ingredients are expected to obstruct the market growth. Lack of consistency in regulations pertaining to various ingredients and complexities related to the integration and adulteration of functional food products are projected to challenge the functional food market in the forecast period of 2021 to 2028.
This functional food market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on functional food market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Functional Food Market Scope and Market Size
The functional food market is segmented on the basis of product type and distribution channel. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of product type, the functional food market is segmented into bakery products, breakfast cereals, snack/functional bars, dairy products, baby food and other product. Snack/functional bars are further segmented into sports bars, energy bars and protein bars. Dairy products are further segmented into yogurt and other dairy products.
- On the basis of distribution channel, the functional food market is segmented into supermarkets/hypermarkets, specialist retailers, convenience stores, online retail and other distribution channels.
Functional Food Market Country Level Analysis
The functional food market is analyzed and market size, volume information is provided by country, product type and distribution channel as referenced above.
The countries covered in the global functional food market report are the U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
Asia-Pacific dominates the functional food market because of the growing consumption of processed food along with rising awareness regarding health and fitness in developing economies. North America is expected to witness significant growth during the forecast period of 2021 to 2028 due to the growth in awareness in the region.
The country section of the functional food market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Functional Food Market Share Analysis
The functional food market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to functional food market.
The major players covered in the functional food market report are Archer Daniels Midland Co., Ashland Inc., Cargill, CP Kelco, EI DuPont De Nemours & Co., Fuerest Day Lawson Ltd., Ingredion Inc., Kerry Inc., Tate & Lyle PLC, TIC Gums Inc., Associated British Foods, Amway, Nestle, DMH Ingredients, and Ajinomoto Co. Inc., among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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