Dublin, Dec. 07, 2021 (GLOBE NEWSWIRE) -- The "Functional Foods Global Market Report 2021: COVID-19 Growth and Change to 2030" report has been added to ResearchAndMarkets.com's offering.
This report provides strategists, marketers and senior management with the critical information they need to assess the global functional food market.
This report focuses on the functional food market which is experiencing strong growth. The report gives a guide to the functional food market which will be shaping and changing our lives over the next ten years and beyond, including the market's response to the challenge of the global pandemic.
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Where is the largest and fastest growing market for the functional food? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The Functional Food market global report answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography. It places the market within the context of the wider functional food market, and compares it with other markets.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, the influence of the COVID-19 virus and forecasting its growth.
- Market segmentations break down market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- Competitive landscape gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
- The functional food market section of the report gives context. It compares the functional food market with other segments of the functional food market by size and growth, historic and forecast. It analyses GDP proportion, expenditure per capita, functional food indicators comparison.
Major players in the functional food market are Unilever, BNL Food Group, Dean Foods, The Coca-Cola Company, Arla Foods, Abbott Laboratories, PepsiCo Inc., Kraft Foods Inc. and Nestle.
The global functional foods market is expected to grow from $161.99 billion in 2020 to $171.25 billion in 2021 at a compound annual growth rate (CAGR) of 5.7%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $228.79 billion in 2025 at a CAGR of 8%.
The functional food market consists of sales of functional food and related services. Functional food is highly nutritious and is associated with many health benefits. The benefits include prevention against nutrition deficiencies, protection against diseases, improved cholesterol levels, lower blood pressure, and promote proper growth & development.
The increasing number of diseases is shifting consumer's focus on healthy eating, which in turn, is projected to boost the demand for functional foods. Functional food provides the human body with healthy nutrition, vitamins & minerals, and reduce the risk of diseases. According to the Centre for Disease Control and Prevention, heart disease is a leading cause of death in the USA and about 6,47,000 Americans die from heart disease every year, which is one of every 4 deaths. Therefore, the increasing number of cardiovascular and other diseases across the globe is anticipated to generate higher demand for a healthy diet, which in turn, is likely to propel the revenues for the functional food market over the forecast period.
The higher price of functional food products attributing to the inclusion of healthier or natural ingredients is to limit the growth of the functional food market. The functional foods are sold at higher prices and holds larger profit margins than conventional food. The price of functional food is considerably 30 to 500% above similar conventional foods. Thus, the higher prices of functional food are to act as a major restraint for the growth of the functional food market over the forthcoming years.
The functional foods market covered in this report is segmented by product type into bakery & cereals, dairy products, meat, fish & eggs, soy products, fats & oils, others. It is also segmented by ingredients into carotenoids, dietary fibers, fatty acids, minerals, prebiotics & probiotics, vitamins, others and by application into sports nutrition, weight management, immunity, digestive health, clinical nutrition, cardio health, others.
Key players dealing in the functional food market are increasingly focusing on new product developments and company expansion in order to meet the rising demand from the consumers. For instance, in September 2019, Tyson Foods Inc. announced the launch of its new brand Pact Snack Bites, a line of functional refrigerated protein snacks. Pack Snacks Bites are produced with fruits, nuts, and functional ingredients such as probiotic cultures, turmeric, kombucha, matcha, collagen protein, and prebiotic fiber.
In June 2019, Mars, an American manufacturer of pet food, confectionery, and other foods, signed an agreement to acquire a majority stake in Foodspring, a German functional food & beverage company. Foodspring was founded in 2013 and is the fastest-growing targeted nutritional business in Europe. The product portfolio of food spring includes protein supplements, snacks, bars, shakes, porridge, and muesli.
Key Topics Covered:
1. Executive Summary
2. Functional Food Market Characteristics
3. Functional Food Market Trends and Strategies
4. Impact of COVID-19 on Functional Food
5. Functional Food Market Size and Growth
5.1. Global Functional Food Historic Market, 2015-2020, $ Billion
5.1.1. Drivers of the Market
5.1.2. Restraints on The Market
5.2. Global Functional Food Forecast Market, 2020-2025F, 2030F, $ Billion
5.2.1. Drivers of the Market
5.2.2. Restraints on the Market
6. Functional Food Market Segmentation
6.1. Global Functional Food Market, Segmentation By Product Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
- Bakery & Cereals
- Dairy Products
- Meat, Fish & Eggs
- Soy Products
- Fats & Oils
- Others
6.2. Global Functional Food Market, Segmentation By Ingredients, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
- Carotenoids
- Dietary Fibers
- Fatty Acids
- Minerals
- Prebiotics & Probiotics
- Vitamins
- Others
6.3. Global Functional Food Market, Segmentation By Application, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
- Sports Nutrition
- Weight Management
- Immunity
- Digestive Health
- Clinical Nutrition
- Cardio Health
- Others
7. Functional Food Market Regional and Country Analysis
7.1. Global Functional Food Market, Split By Region, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
7.2. Global Functional Food Market, Split By Country, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
For more information about this report visit https://www.researchandmarkets.com/r/cu6byd
