Functional Food Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)

Description

The global functional food market is poised for growth as an increasing number of consumers seek a balanced link between their diet and health. With the continuous introduction of new functional and fortified food and beverage products in the F&B industry, the sales of functional food products are projected to remain on an upward trajectory. Fairfield Market Research will soon release a new study that unveils the future growth prospects of the functional food landscape. The expanding consumer base seeking quality sports nutrition will be a strong driver of market growth.

Growing Need for Daily Fiber Intake Boosts Demand for Functional Foods

Consumers' growing awareness of the importance of meeting their daily recommended fiber intake is a key factor contributing to the increasing demand for functional foods. Brands are creatively fortifying consumer favorites such as cheese, bakery items, fried products, sauces, and beverages with fiber, promoting them as digestive products. This trend is expected to significantly drive the market for functional foods.

Cardioprotective Diets Fuel the Demand for Functional Foods

The report highlights the rising prevalence of chronic diseases worldwide, which has compelled consumers to prioritize their nutritional deficiencies and turn to dietary and nutritional supplements. This trend is expected to significantly bolster the sales of functional foods. The cardiovascular health segment represents a quarter of the global functional food market valuation. With a growing consumer base avoiding red meat consumption due to its potential negative impact on heart health, there is an increasing inclination towards functional foods that benefit cardiac health, such as flaxseed, oats, stanol-ester margarine, and psyllium. The incorporation of functional foods into cardioprotective diets is expected to drive market growth.

Pre and Probiotic Functional Foods Boost Sales

The increasing interest in pre and probiotics has propelled the market potential of functional foods such as cheese, yogurt, kefir, and cultured buttermilk. These products are anticipated to experience growing demand from a wide range of consumers, including infants and elderly individuals with chronic diseases. Probiotic functional beverages, in particular, are expected to remain popular among health-conscious consumers. The trends of gluten-free, dairy-free, sugar-free, and vegan diets will further contribute to market growth.

Asian Consumers Drive Functional Food Sales with Shifting Preferences

Asia Pacific leads the global functional food market, exhibiting extraordinary growth rates. The Chinese market, in particular, presents a fertile ground for sales of fortified, naturally healthy, organic, and better-for-you products in the F&B industry. Brands are expected to emphasize the inclusion of traditional Chinese herbs in their functional food product launches. India also shows lucrative growth potential for the functional food market. The US market benefits from the rapidly growing popularity of functional F&B products, with functional beverages expected to be particularly attractive in terms of revenue generation. Brands have been strategically selling a majority of their product line-ups through large supermarket chains such as Lidl, Tesco, and Aldi, rather than relying on specialty stores.

Key Players in the Functional Food Market

Leading companies in the functional food space, such as Mondelez International, Danone, General Mills, The Kraft Heinz Company, Dean Foods, Nestle, Unilever, Kraft Foods Inc, Marico, Yakult Honsha, Stonyfield Farm, Inc., Sanitarium Health, FrieslandCampina, Raisio Group, and Kellogg's, are driving innovation and growth in the industry.

The global functional food market is set to expand as consumers increasingly prioritize their health and wellness, leading to a growing demand for functional food and beverage products.

1. Executive Summary

1.1. Global Functional Foods Market: Snapshot
1.2. Future Projections, 2023 - 2030, (US$ Mn)
1.3. Key Segment Analysis and Competitive Insights
1.4. Analyst Recommendations

2. Market Overview

2.1. Market Definitions and Segmentations
2.2. Market Dynamics
- 2.2.1. Drivers
  - 2.2.1.1. Driver A
  - 2.2.1.2. Driver B
  - 2.2.1.3. Driver C
- 2.2.2. Restraints
  - 2.2.2.1. Restraint 1
  - 2.2.2.2. Restraint 2
- 2.2.3. Market Opportunities Matrix
2.3. Value Chain Analysis
2.4. Porter's Five Forces Analysis
2.5. Covid-19 Impact Analysis
- 2.5.1. Supply
- 2.5.2. Demand
2.6. Government Regulations
2.7. Recent Industry Developments
2.8. Economic Analysis
2.9. Quality Certification
2.10. PESTLE Analysis

3. Global Functional Foods Market Outlook, 2018 - 2027

3.1. Global Functional Foods Market Outlook, by Food Type, Value (US$ Mn), 2019 - 2030
- 3.1.1. Key Highlights
  - 3.1.1.1. Dairy Products
  - 3.1.1.2. Cereal & Flour
  - 3.1.1.3. Bakery & Confectionary
  - 3.1.1.4. Sweet & Savory Snacks
  - 3.1.1.5. Breakfast Cereals
  - 3.1.1.6. Infant Food
  - 3.1.1.7. Misc.
- 3.1.2. Market Attractiveness Analysis
3.2. Global Functional Foods Market Outlook, by Distribution Channels, Value (US$ Mn), 2019 - 2030
- 3.2.1. Key Highlights
  - 3.2.1.1. Supermarkets & Hypermarkets
  - 3.2.1.2. Specialty Stores
  - 3.2.1.3. Online Stores
  - 3.2.1.4. Misc. (Pharmacies, etc.)
- 3.2.2. Market Attractiveness Analysis
3.3. Global Functional Foods Market Outlook, by Region, Value (US$ Mn), 2019 - 2030
- 3.3.1. Key Highlights
  - 3.3.1.1. North America
  - 3.3.1.2. Europe
  - 3.3.1.3. Asia Pacific
  - 3.3.1.4. Latin America
  - 3.3.1.5. Middle East & Africa
- 3.3.2. Market Attractiveness Analysis

4. North America Functional Foods Market Outlook, 2019 - 2030

4.1. North America Functional Foods Market Outlook, by Food Type, Value (US$ Mn), 2019 - 2030
- 4.1.1. Key Highlights
  - 4.1.1.1. Dairy Products
  - 4.1.1.2. Cereal & Flour
  - 4.1.1.3. Bakery & Confectionary
  - 4.1.1.4. Sweet & Savory Snacks
  - 4.1.1.5. Breakfast Cereals
  - 4.1.1.6. Infant Food
  - 4.1.1.7. Misc.
4.2. North America Functional Foods Market Outlook, by Distribution Channels, Value (US$ Mn), 2019 - 2030
- 4.2.1. Key Highlights
  - 4.2.1.1. Supermarkets & Hypermarkets
  - 4.2.1.2. Specialty Stores
  - 4.2.1.3. Online Stores
  - 4.2.1.4. Misc. (Pharmacies, etc.)
4.3. North America Functional Foods Market Outlook, by Country, Value (US$ Mn), 2019 - 2030
- 4.3.1. Key Highlights
  - 4.3.1.1. U.S.
  - 4.3.1.2. Canada

5. Europe Functional Foods Market Outlook, 2019 - 2030

5.1. Europe Functional Foods Market Outlook, by Food Type, Value (US$ Mn), 2019 - 2030
- 5.1.1. Key Highlights
  - 5.1.1.1. Dairy Products
  - 5.1.1.2. Cereal & Flour
  - 5.1.1.3. Bakery & Confectionary
  - 5.1.1.4. Sweet & Savory Snacks
  - 5.1.1.5. Breakfast Cereals
  - 5.1.1.6. Infant Food
  - 5.1.1.7. Misc.
5.2. Europe Functional Foods Market Outlook, by Distribution Channels, Value (US$ Mn), 2019 - 2030
- 5.2.1. Key Highlights
  - 5.2.1.1. Supermarkets & Hypermarkets
  - 5.2.1.2. Specialty Stores
  - 5.2.1.3. Online Stores
  - 5.2.1.4. Misc. (Pharmacies, etc.)
5.3. Europe Functional Foods Market Outlook, by Country, Value (US$ Mn), 2019 - 2030
- 5.3.1. Key Highlights
  - 5.3.1.1. Germany
  - 5.3.1.2. France
  - 5.3.1.3. U.K.
  - 5.3.1.4. Italy
  - 5.3.1.5. Russia
  - 5.3.1.6. Rest of Europe
- 5.3.2. BPS Analysis/Market Attractiveness Analysis

6. Asia Pacific Functional Foods Market Outlook, 2019 - 2030

6.1. Asia Pacific Functional Foods Market Outlook, by Food Type, Value (US$ Mn), 2019 - 2030
- 6.1.1. Key Highlights
  - 6.1.1.1. Dairy Products
  - 6.1.1.2. Cereal & Flour
  - 6.1.1.3. Bakery & Confectionary
  - 6.1.1.4. Sweet & Savory Snacks
  - 6.1.1.5. Breakfast Cereals
  - 6.1.1.6. Infant Food
  - 6.1.1.7. Misc.
6.2. Asia Pacific Functional Foods Market Outlook, by Distribution Channels, Value (US$ Mn), 2019 - 2030
- 6.2.1. Key Highlights
  - 6.2.1.1. Supermarkets & Hypermarkets
  - 6.2.1.2. Specialty Stores
  - 6.2.1.3. Online Stores
  - 6.2.1.4. Misc. (Pharmacies, etc.)
6.3. Asia Pacific Functional Foods Market Outlook, by Country, Value (US$ Mn), 2019 - 2030
- 6.3.1. Key Highlights
  - 6.3.1.1. China
  - 6.3.1.2. Japan
  - 6.3.1.3. South Korea
  - 6.3.1.4. India
  - 6.3.1.5. Southeast Asia
  - 6.3.1.6. Rest of Asia Pacific
- 6.3.2. BPS Analysis/Market Attractiveness Analysis

7. Latin America Functional Foods Market Outlook, 2019 - 2030

7.1. Latin America Functional Foods Market Outlook, by Food Type, Value (US$ Mn), 2019 - 2030
- 7.1.1. Key Highlights
  - 7.1.1.1. Dairy Products
  - 7.1.1.2. Cereal & Flour
  - 7.1.1.3. Bakery & Confectionary
  - 7.1.1.4. Sweet & Savory Snacks
  - 7.1.1.5. Breakfast Cereals
  - 7.1.1.6. Infant Food
  - 7.1.1.7. Misc.
7.2. Latin America Functional Foods Market Outlook, by Distribution Channels, Value (US$ Mn), 2019 - 2030
- 7.2.1. Key Highlights
  - 7.2.1.1. Supermarkets & Hypermarkets
  - 7.2.1.2. Specialty Stores
  - 7.2.1.3. Online Stores
  - 7.2.1.4. Misc. (Pharmacies, etc.)
7.3. Latin America Functional Foods Market Outlook, by Country, Value (US$ Mn), 2019 - 2030
- 7.3.1. Key Highlights
  - 7.3.1.1. Brazil
  - 7.3.1.2. Mexico
  - 7.3.1.3. Rest of Latin America
- 7.3.2. BPS Analysis/Market Attractiveness Analysis

8. Middle East & Africa Functional Foods Market Outlook, 2019 - 2030

8.1. Middle East & Africa Functional Foods Market Outlook, by Food Type, Value (US$ Mn), 2019 - 2030
- 8.1.1. Key Highlights
  - 8.1.1.1. Dairy Products
  - 8.1.1.2. Cereal & Flour
  - 8.1.1.3. Bakery & Confectionary
  - 8.1.1.4. Sweet & Savory Snacks
  - 8.1.1.5. Breakfast Cereals
  - 8.1.1.6. Infant Food
  - 8.1.1.7. Misc.
8.2. Middle East & Africa Functional Foods Market Outlook, by Distribution Channels, Value (US$ Mn), 2019 - 2030
- 8.2.1. Key Highlights
  - 8.2.1.1. Supermarkets & Hypermarkets
  - 8.2.1.2. Specialty Stores
  - 8.2.1.3. Online Stores
  - 8.2.1.4. Misc. (Pharmacies, etc.)
8.3. Middle East & Africa Functional Foods Market Outlook, by Country, Value (US$ Mn), 2019 - 2030
- 8.3.1. Key Highlights
  - 8.3.1.1. GCC
  - 8.3.1.2. South Africa
  - 8.3.1.3. Egypt
  - 8.3.1.4. Rest of Middle East & Africa
- 8.3.2. BPS Analysis/Market Attractiveness Analysis

9. Competitive Landscape

9.1. Company Market Share Analysis, 2022
9.2. Competition Matrix (By Tier and Size of companies)
9.3. Strategic Collaborations
9.4. Company Profiles
- 9.4.1. Nestle S.A.
  - 9.4.1.1. Company Overview
  - 9.4.1.2. Product Portfolio
  - 9.4.1.3. Financial Overview
  - 9.4.1.4. Business Strategies and Development
- 9.4.2. General Mills Inc.
- 9.4.3. The Kellogg Company
- 9.4.4. Danone S.A.
- 9.4.5. PepsiCo Inc.
- 9.4.6. Arla Foods amba
- 9.4.7. The Coca Cola Company
- 9.4.8. Cargill Inc.
- 9.4.9. Herbalife
- 9.4.10. The Craft Heinz Company
- 9.4.11. Archer Daniels Midland Company
- 9.4.12. Kerry Group Plc

10. Appendix

10.1. Acronyms and Abbreviations
10.2. Research Scope & Assumptions
10.3. Research Methodology and Information Sources