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Functional Foods Market

Publisher Fortune Business Insights Pvt. Ltd.
Published Oct 01, 2024
Length 164 Pages
SKU # FOB19224285

Description

Functional Foods Market



Growth Factors of Functional Foods Market

The functional foods market size was valued at USD 333.34 billion in 2023, and the market is now projected to grow from USD 364.18 billion in 2024 to USD 793.60 billion by 2032, exhibiting a CAGR of 10.23% during the forecast period of 2024-2032.

The unexpected occurrence of the coronavirus pandemic has had a wholesome impact on raw component sourcing, manufacturing, agricultural, handling, packaging, and shipment of functional food and beverage. The stringent lockdown burden across numerous economies to stop the spread of the virus has adversely affected the making and distribution of these products in the initial months as production plants/factories underwent staggered operations and partial or complete closures.

Increasing research and development activities to introduce innovative functional food and beverage products are responsible for motivating the functional foods market growth. Firms are forming products that suit rising customer requirements. Makers are developing functional confectioneries such as gummies and toffees for kids, nourishment bars, and functional drinks that fascinate health enthusiasts and customers looking for rapid nutrition. Clients are progressively becoming aware of their digestive fitness, dynamic improvement in probiotic product offerings. Due to growing health awareness among people, functional foods are suffering remarkable demand progression.

The functional food and drink market developments are focused by the growing demand for fit and nutrition-rich diets. Evolving routines and growing incomes of customers across the world have powered the demand for products with greater nutritional profiles. Growing product improvement and innovation activities, the accessibility of an extensive variability of products, expressly across e-commerce platforms, and the implementation of unique promotional strategies by market performers are collectively fostering the market progression.

Comprehensive Analysis of Functional Foods Market

The market can be segmented in various ways, depending on the focus of analysis such as by type, and by distribution channel. Based on type, the market is classified into functional cereal & grains, functional dairy products, functional bakery products, functional fats & oil, other functional/fortified foods. Based on distribution channel, the market is classified into supermarkets/hypermarkets, convenience stores, online retail, others.

Asia Pacific region is dominating the functional foods market share due to growing health awareness and growing discretionary incomes. The intake of fast food is affecting adverse changes in health situations and growing the occurrence of prolonged diseases, such as diabetes and obesity.

The key players are enthusiastically contributing in planned events that are targeted at maintaining durable market position and growing market share by merger, partnerships and others. These players include Danone S.A. (Paris, France), Nestle S.A. (Vevey, Switzerland), General Mills Inc. (Minnesota, United States), Glanbia Plc (Kilkenny, Ireland), Tyson Foods Inc. (Arkansas, United States), PepsiCo Inc. (New York, United States), Hearthside Food Solutions LLC (Illinois, United States), Celsius Holding, Inc. (Florida, United States), Arla Foods amba (Viby, Denmark), The Coca-Cola Company (Georgia, United States) these market players spending severely on research and development in order to arise with more new technology so that they can maintain and improve their existing market.

In May 2023, Javo Beverage, one of the developing beverage firms, presented its new all-natural functional energy lemonades and flavored teas for food service operators. The company targeted to meet customer demand for functional beverage products through this presentation.

Segmentation Table

ATTRIBUTE DETAILS

Study Period 2019-2032

Base Year 2023

Estimated Year 2024

Forecast Period 2024-2032

Historical Period 2019-2022

Unit Value (USD Billion)

Growth Rate CAGR of 10.23% for 2024 to 2032

Segmentation By Type
  • Functional Cereal & Grains
  • Functional Dairy Products
  • Functional Bakery Products
  • Functional Fats & Oils
  • Other Functional/Fortified Foods
By Distribution Channel
  • Supermarkets/Hypermarkets
  • Convenience Stores
  • Online Retail
  • Others
By Geography
  • North America (By Type, Distribution Channel, and By Country)
  • The U.S. (By Distribution Channel)
  • Canada (By Distribution Channel)
  • Mexico (By Distribution Channel)
  • Europe (By Type, Distribution Channel, and By Country)
  • Germany (By Distribution Channel
  • The U.K. (By Distribution Channel)
  • Spain (By Distribution Channel)
  • France (By Distribution Channel)
  • Italy (By Distribution Channel)
  • Rest of Europe (By Distribution Channel)
  • Asia Pacific (By Type, Distribution Channel, and By Country)
  • China (By Distribution Channel)
  • Australia (By Distribution Channel)
  • Japan (By Distribution Channel)
  • India (By Distribution Channel)
  • Rest of Asia Pacific (By Distribution Channel)
  • South America (By Type, Distribution Channel, and By Country)
  • Argentina (By Distribution Channel)
  • Brazil (By Distribution Channel)
  • Rest of South America (By Distribution Channel)
  • The Middle East and Africa (By Type, Distribution Channel, and By Country)
  • South Africa (By Distribution Channel)
  • The UAE (By Distribution Channel)
  • Rest of the MEA (By Distribution Channel)


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Table of Contents

164 Pages
1. Introduction
1.1. Research Scope
1.2. Market Segmentation
1.3. Research Methodology
1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
3.1. Market Drivers
3.2. Market Restraints
3.3. Market Opportunities
4. Key Insights
4.1. Overview of the Parent/Related (Nutraceuticals) Market
4.2. Regulatory Analysis
4.3. Industry SWOT Analysis
4.4. Recent Industry Developments - Policies, Mergers & Acquisitions, and New Product Launches
4.5. Market Analysis and Insights (in Relation with COVID-19)
4.5.1. Impact of COVID-19 on the Market
4.5.2. Supply Chain Challenges due to the Pandemic
4.5.3. Potential Opportunities Due to COVID-19
5. Global Functional Food and Beverage Market Analysis, Insights and Forecast, 2019-2032
5.1. Key Findings / Summary
5.2. Market Size Estimates and Forecast
5.2.1. By Type (Value)
5.2.1.1. Functional Cereals & Grains
5.2.1.2. Functional Dairy Products
5.2.1.3. Functional Bakery Products
5.2.1.4. Functional Fats & Oils
5.2.1.5. Other Functional/Fortified Foods
5.2.2. By Distribution Channel (Value)
5.2.2.1. Supermarkets/Hypermarkets
5.2.2.2. Convenience Stores
5.2.2.3. Online Retail
5.2.2.4. Others
5.2.3. By Region (Value)
5.2.3.1. North America
5.2.3.2. Europe
5.2.3.3. Asia Pacific
5.2.3.4. South America
5.2.3.5. Middle East & Africa
6. North America Functional Food and Beverage Market Analysis, Insights and Forecast, 2019-2032
6.1. Key Findings / Summary
6.2. Market Size Estimates and Forecast
6.2.1. By Type (Value)
6.2.1.1. Functional Cereals & Grains
6.2.1.2. Functional Dairy Products
6.2.1.3. Functional Bakery Products
6.2.1.4. Functional Fats & Oils
6.2.1.5. Other Functional/Fortified Foods
6.2.2. By Distribution Channel (Value)
6.2.2.1. Supermarkets/Hypermarkets
6.2.2.2. Convenience Stores
6.2.2.3. Online Retail
6.2.2.4. Others
6.2.3. By Country (Value)
6.2.3.1. The U.S.
6.2.3.1.1. By Distribution Channel (Value)
6.2.3.1.1.1. Supermarkets/Hypermarkets
6.2.3.1.1.2. Convenience Stores
6.2.3.1.1.3. Online Retail
6.2.3.1.1.4. Others
6.2.3.2. Canada
6.2.3.2.1. By Distribution Channel (Value)
6.2.3.2.1.1. Supermarkets/Hypermarkets
6.2.3.2.1.2. Convenience Stores
6.2.3.2.1.3. Online Retail
6.2.3.2.1.4. Others
6.2.3.3. Mexico
6.2.3.3.1. By Distribution Channel (Value)
6.2.3.3.1.1. Supermarkets/Hypermarkets
6.2.3.3.1.2. Convenience Stores
6.2.3.3.1.3. Online Retail
6.2.3.3.1.4. Others
7. Europe Functional Food and Beverage Market Analysis, Insights and Forecast, 2019-2032
7.1. Key Findings / Summary
7.2. Market Size Estimates and Forecast
7.2.1. By Type (Value)
7.2.1.1. Functional Cereals & Grains
7.2.1.2. Functional Dairy Products
7.2.1.3. Functional Bakery Products
7.2.1.4. Functional Fats & Oils
7.2.1.5. Other Functional/Fortified Foods
7.2.2. By Distribution Channel (Value)
7.2.2.1. Supermarkets/Hypermarkets
7.2.2.2. Convenience Stores
7.2.2.3. Online Retail
7.2.2.4. Others
7.2.3. By Country (Value)
7.2.3.1. Germany
7.2.3.1.1. By Distribution Channel (Value)
7.2.3.1.1.1. Supermarkets/Hypermarkets
7.2.3.1.1.2. Convenience Stores
7.2.3.1.1.3. Online Retail
7.2.3.1.1.4. Others
7.2.3.2. France
7.2.3.2.1. By Distribution Channel (Value)
7.2.3.2.1.1. Supermarkets/Hypermarkets
7.2.3.2.1.2. Convenience Stores
7.2.3.2.1.3. Online Retail
7.2.3.2.1.4. Others
7.2.3.3. Italy
7.2.3.3.1. By Distribution Channel (Value)
7.2.3.3.1.1. Supermarkets/Hypermarkets
7.2.3.3.1.2. Convenience Stores
7.2.3.3.1.3. Online Retail
7.2.3.3.1.4. Others
7.2.3.4. Spain
7.2.3.4.1. By Distribution Channel (Value)
7.2.3.4.1.1. Supermarkets/Hypermarkets
7.2.3.4.1.2. Convenience Stores
7.2.3.4.1.3. Online Retail
7.2.3.4.1.4. Others
7.2.3.5. U.K.
7.2.3.5.1. By Distribution Channel (Value)
7.2.3.5.1.1. Supermarkets/Hypermarkets
7.2.3.5.1.2. Convenience Stores
7.2.3.5.1.3. Online Retail
7.2.3.5.1.4. Others
7.2.3.6. Rest of Europe
7.2.3.6.1. By Distribution Channel (Value)
7.2.3.6.1.1. Supermarkets/Hypermarkets
7.2.3.6.1.2. Convenience Stores
7.2.3.6.1.3. Online Retail
7.2.3.6.1.4. Others
8. Asia Pacific Functional Food and Beverage Market Analysis, Insights and Forecast, 2019-2032
8.1. Key Findings / Summary
8.1.1. By Type (Value)
8.1.1.1. Functional Cereals & Grains
8.1.1.2. Functional Dairy Products
8.1.1.3. Functional Bakery Products
8.1.1.4. Functional Fats & Oils
8.1.1.5. Other Functional/Fortified Foods
8.1.2. By Distribution Channel (Value)
8.1.2.1. Supermarkets/Hypermarkets
8.1.2.2. Convenience Stores
8.1.2.3. Online Retail
8.1.2.4. Others
8.1.3. By Country (Value)
8.1.3.1. China
8.1.3.1.1. By Distribution Channel (Value)
8.1.3.1.1.1. Supermarkets/Hypermarkets
8.1.3.1.1.2. Convenience Stores
8.1.3.1.1.3. Online Retail
8.1.3.1.1.4. Others
8.1.3.2. India
8.1.3.2.1. By Distribution Channel (Value)
8.1.3.2.1.1. Supermarkets/Hypermarkets
8.1.3.2.1.2. Convenience Stores
8.1.3.2.1.3. Online Retail
8.1.3.2.1.4. Others
8.1.3.3. Japan
8.1.3.3.1. By Distribution Channel (Value)
8.1.3.3.1.1. Supermarkets/Hypermarkets
8.1.3.3.1.2. Convenience Stores
8.1.3.3.1.3. Online Retail
8.1.3.3.1.4. Others
8.1.3.4. Australia
8.1.3.4.1. By Distribution Channel (Value)
8.1.3.4.1.1. Supermarkets/Hypermarkets
8.1.3.4.1.2. Convenience Stores
8.1.3.4.1.3. Online Retail
8.1.3.4.1.4. Others
8.1.3.5. Rest of APAC
8.1.3.5.1. By Distribution Channel (Value)
8.1.3.5.1.1. Supermarkets/Hypermarkets
8.1.3.5.1.2. Convenience Stores
8.1.3.5.1.3. Online Retail
8.1.3.5.1.4. Others
9. South America Functional Food and Beverage Market Analysis, Insights and Forecast, 2019-2032
9.1. Key Findings / Summary
9.1.1. By Type (Value)
9.1.1.1. Functional Cereals & Grains
9.1.1.2. Functional Dairy Products
9.1.1.3. Functional Bakery Products
9.1.1.4. Functional Fats & Oils
9.1.1.5. Other Functional/Fortified Foods
9.1.2. By Distribution Channel (Value)
9.1.2.1. Supermarkets/Hypermarkets
9.1.2.2. Convenience Stores
9.1.2.3. Online Retail
9.1.2.4. Others
9.1.3. By Country (Value)
9.1.3.1. Brazil
9.1.3.1.1. By Distribution Channel (Value)
9.1.3.1.1.1. Supermarkets/Hypermarkets
9.1.3.1.1.2. Convenience Stores
9.1.3.1.1.3. Online Retail
9.1.3.1.1.4. Others
9.1.3.2. Argentina
9.1.3.2.1. By Distribution Channel (Value)
9.1.3.2.1.1. Supermarkets/Hypermarkets
9.1.3.2.1.2. Convenience Stores
9.1.3.2.1.3. Online Retail
9.1.3.2.1.4. Others
9.1.3.3. Rest of South America
9.1.3.3.1. By Distribution Channel (Value)
9.1.3.3.1.1. Supermarkets/Hypermarkets
9.1.3.3.1.2. Convenience Stores
9.1.3.3.1.3. Online Retail
9.1.3.3.1.4. Others
10. Middle East and Africa Functional Food and Beverage Market Analysis, Insights and Forecast, 2019-2032
10.1. Key Findings / Summary
10.1.1. By Type (Value)
10.1.1.1. Functional Cereals & Grains
10.1.1.2. Functional Dairy Products
10.1.1.3. Functional Bakery Products
10.1.1.4. Functional Fats & Oils
10.1.1.5. Other Functional/Fortified Foods
10.1.2. By Distribution Channel (Value)
10.1.2.1. Supermarkets/Hypermarkets
10.1.2.2. Convenience Stores
10.1.2.3. Online Retail
10.1.2.4. Others
10.1.3. By Country (Value)
10.1.3.1. UAE
10.1.3.1.1. By Distribution Channel (Value)
10.1.3.1.1.1. Supermarkets/Hypermarkets
10.1.3.1.1.2. Convenience Stores
10.1.3.1.1.3. Online Retail
10.1.3.1.1.4. Others
10.1.3.2. South Africa
10.1.3.2.1. By Distribution Channel (Value)
10.1.3.2.1.1. Supermarkets/Hypermarkets
10.1.3.2.1.2. Convenience Stores
10.1.3.2.1.3. Online Retail
10.1.3.2.1.4. Others
10.1.3.3. Rest of ME&A
10.1.3.3.1. By Distribution Channel (Value)
10.1.3.3.1.1. Supermarkets/Hypermarkets
10.1.3.3.1.2. Convenience Stores
10.1.3.3.1.3. Online Retail
10.1.3.3.1.4. Others
11. Competitive Matrix
11.1. Business Strategies Adopted by Leading Players
11.2. Global Functional Food and Beverage Market Revenue Share/Ranking Analysis, By Key Manufacturer, 2020
12. Company Profiles
12.1. Nestle S.A.
12.1.1. Overview
12.1.2. Description
12.1.3. Type Portfolio
12.1.4. Financials (Data as available in public domain and/or on paid databases)
12.1.5. Recent Developments
12.2. Danone S.A.
12.2.1. Overview
12.2.2. Description
12.2.3. Type Portfolio
12.2.4. Financials (Data as available in public domain and/or on paid databases)
12.2.5. Recent Developments
12.3. General Mills Inc.
12.3.1. Overview
12.3.2. Description
12.3.3. Type Portfolio
12.3.4. Financials (Data as available in public domain and/or on paid databases)
12.3.5. Recent Developments
12.4. Glanbia Plc
12.4.1. Overview
12.4.2. Description
12.4.3. Type Portfolio
12.4.4. Financials (Data as available in public domain and/or on paid databases)
12.4.5. Recent Developments
12.5. Tyson Foods
12.5.1. Overview
12.5.2. Description
12.5.3. Type Portfolio
12.5.4. Financials (Data as available in public domain and/or on paid databases)
12.5.5. Recent Developments
12.6. Hearthside Food Solutions LLC
12.6.1. Overview
12.6.2. Description
12.6.3. Type Portfolio
12.6.4. Financials (Data as available in public domain and/or on paid databases)
12.6.5. Recent Developments
12.7. PepsiCo Inc.
12.7.1. Overview
12.7.2. Description
12.7.3. Type Portfolio
12.7.4. Financials (Data as available in public domain and/or on paid databases)
12.7.5. Recent Developments
12.8. Celsius Holdings Inc.
12.8.1. Overview
12.8.2. Description
12.8.3. Type Portfolio
12.8.4. Financials (Data as available in public domain and/or on paid databases)
12.8.5. Recent Developments
12.9. Arla Foods amba
12.9.1. Overview
12.9.2. Description
12.9.3. Type Portfolio
12.9.4. Financials (Data as available in public domain and/or on paid databases)
12.9.5. Recent Developments
12.10. The Coca-Cola Company
12.10.1. Overview
12.10.2. Description
12.10.3. Type Portfolio
12.10.4. Financials (Data as available in public domain and/or on paid databases)
12.10.5. Recent Developments
13. Strategic Recommendations
14. Appendix

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