Global Functional Food Market Analysis Report, 2022-2023 & 2028: From Athletes to Everyday Consumers - Functional Food Market Thrives on Health-Conscious Trends

News provided by

Sep 13, 2023, 22:15 ET

DUBLIN, Sept. 13, 2023 /PRNewswire/ -- The "Functional Food Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.

The global functional food market size reached US$ 207.7 Billion in 2022. Looking forward, the market is set to reach US$ 305.6 Billion by 2028, exhibiting a growth rate (CAGR) of 6.5% during 2023-2028.

Functional food refers to a variety of processed food products that offer medical and health benefits and minimize the risk of different diseases. It comprises fruits, vegetables, nuts, seeds, legumes, whole grains, seafood, fermented foods, herbs and spices, and beverages.

At present, there is a rise in the commercialization of sports nutrients for athletes to enhance their performance in the competition. This, along with the availability of a wide product range, such as creatine and whey protein-based functional food, represents one of the key factors driving the market.

Moreover, there is an increase in the demand for functional food to reduce the risk of diabetes, and cardiovascular diseases among consumers. This, coupled with the rising awareness among individuals about healthy eating habits, is propelling the growth of the market. In addition, the growing trend of on-the-go snacking among children and adults is positively influencing the market.

Besides this, key market players are focusing on unique promotional strategies through social media platforms, which is catalyzing the demand for nutritional food.

Furthermore, the escalating demand for probiotic food products among individuals to enhance their digestive health is bolstering the growth of the market. Besides this, the development of novel technologies, such as encapsulation, enzyme, vacuum impregnation, and edible coating for the formulation of functional food products is projected to strengthen the market growth in the coming years.

Key Questions Answered in This Report:

What was the size of the global functional food market in 2022?
What is the expected growth rate of the global functional food market during 2023-2028?
What has been the impact of COVID-19 on the global functional food market?
What are the key factors driving the global functional food market?
What is the breakup of the global functional food market based on the product type?
What is the breakup of the global functional food market based on the ingredient?
What is the breakup of the global functional food market based on the distribution channel?
What are the key regions in the global functional food market?
Who are the key players/companies in the global functional food market?

Competitive Landscape:

Abbott Laboratories
Amway
BASF SE
Cargill Incorporated
Clif Bar & Company
Danone S.A.
General Mills inc.
Glanbia PLC
Hearthside Food Solutions LLC
Kellogg Company
Kerry Group plc
Nestle S.A.
Raisio Oyj

Key Market Segmentation:

Breakup by Product Type:

Bakery Products
Breakfast Cereals
Snack/Functional Bars
Dairy Products
Baby Food
Others

Breakup by Ingredient:

Probiotics
Minerals
Proteins and Amino Acids
Prebiotics and Dietary Fiber
Vitamins
Others

Breakup by Distribution Channel:

Supermarkets and Hypermarkets
Specialist Retailers
Convenience Stores
Online Stores
Others

Breakup by Application:

Sports Nutrition
Weight Management
Clinical Nutrition
Cardio Health
Others

Breakup by Region:

North America

United States
Canada

Asia-Pacific

China
Japan
India
South Korea
Australia
Indonesia
Others

Europe

Germany
France
United Kingdom
Italy
Spain
Russia
Others

Latin America

Brazil
Mexico
Others

Middle East and Africa

For more information about this report visit https://www.researchandmarkets.com/r/ds9lvt

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Media Contact:

Research and Markets
Laura Wood, Senior Manager
[email protected]

For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716

Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg

SOURCE Research and Markets