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According to Straits Research, “the global functional food market was valued at $191. 432 billion in 2022. It is expected to reach $347. 231 billion by 2031, with an expansion of 6. 84% in the forecast period (2023-2031). “
New York, USA, March 28, 2024 (GLOBE NEWSWIRE) — Foods that have fitness benefits beyond their nutritional characteristics are considered functional foods. They are favorable for achieving and maintaining smart fitness and minimizing the threat of disease. Giant’s network has adopted it at an immediate pace. The expansion of the global functional food market is expected to be driven through the expansion of disposable revenue streams and the corresponding increase in spending on fitness and fitness-related food products. The increase in cardiovascular diseases, obesity, and obesity-related diseases is expected to drive the functional foods market during the forecast period. Soy products are becoming increasingly popular for sports nutrition and weight management, which is likely to strengthen the functional foods market according to the forecast. period.
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Increasing Consumer Interest in Nutritional Supplements Across Emerging Markets Is Driving the Global Market
The U. S. , Germany, France, Spain, Italy, and Japan, among other evolved countries, have all said that fresh produce consumers are looking for tailored diets and nutrition plans that help them achieve their fitness and wellness goals. , the original intent of the property and facilities to advertise fitness and well-being has become obsolete. Consumers in China, South Korea, and the United Arab Emirates joined Americans in finding the benefits of functional foods for fitness, adding meat, fish, eggs, bread, and cereals. Almond consumption is increasing among consumers in the Asia-Pacific region.
Increased spending through small and medium-sized food manufacturers is creating huge opportunities
The expanding functional food market presents many opportunities for small and medium-sized businesses. Since the corporations that dominate the food sector have a small footprint, stakeholders intend to grow and expand their operations through product innovation. High-end nutraceuticals and other nutritional supplements may simply be a lucrative market for SMEs. The sole project of many corporations is to create and sell functional food products. In emerging countries such as India and China, the number of small and medium-sized food production facilities has increased as a result of “homemade” programs. As a result, the demand for foods with greater fitness benefits is increasing.
Regional Analysis
Asia-Pacific is the largest shareholder in the global functional food market. Functional foods are widely used in many Asian countries for weight loss, improved nutrition, and cardiovascular health. There has been an increase in investment in the food production sector through many small enterprises. and medium-sized enterprises. Indicators such as the emergence of a capita revenue stream and the proliferation of the Western lifestyle point to a bright future for the sector. The regional functional food industry is driven by the conversion of customer tastes and personal tastes as well as changes in lifestyle. The expansion of the region’s market can be attributed to several factors, adding up to immediate urbanization, expanding wealth, a giant customer base, and a preference for high-priced vitamin products.
North America is expected to witness an expansion during the forecast period. Food brands have been forced to adapt their products to the growing number of people following fitness-oriented diets, such as keto and paleo diets. Digestive fitness has become increasingly important as the prognosis progresses. Low-carb, high-protein, and paleo diets are gaining popularity. Low-cholesterol candies, high-fiber sweets, and baked goods have gained popularity as other people become more fitness-conscious. More and more people are opting for a high-protein diet. Therefore, foods that are high in protein but low in carbohydrates are in the highest demand. Manufacturers of various foods, including pasta, baked goods, and others, have taken note of the growing need for protein and launched new products. which are rich in nutrients and protein. More and more people are dining out and buying packaged goods, which is excellent news for the region’s functional food industry.
The growing awareness of European consumers about the health benefits of functional foods has led to a dramatic increase in their consumption. Consumers in the region have higher disposable incomes, allowing them to spend more on functional food products, contributing to the expansion of the functional food sector. Improved distribution networks have led to greater availability of functional foods across Europe. The market is expected to grow as the European public learns more about the benefits of functional foods, as their costs come down and their programs multiply.
Reflexes
Based on ingredients, the global functional food market is divided into probiotics, minerals, protein and amino acids, prebiotics and nutritional fiber, vitamins, and others. Probiotics are the ones that bring the most to the market.
Based on product, the global functional food market is divided into bakery products and cereals, dairy products, meat, fish and eggs, soy products, fats and oils, etc. Bakery and cereals are the largest contributors to the market.
Based on its applications, the global functional food market is divided into sports nutrition, weight management, clinical nutrition, aerobic fitness, and others. Aerobic fitness is what brings the most to the market.
Asia-Pacific is the largest shareholder in the functional food market
Competitive Players
The major key players in the functional food market are Danone, Glanbia PLC, Hearthside Food Solutions, Mars Incorporated, Meiji Co. , LTD. , Nestlé S. A. , Raisio Plc, Royal Frieslandcampina N. V. , an herbal food company for healthcare facilities, and Kraft Heinz Company. .
Market News
In December 2021, Hearthside Foods completed the acquisition of the assets of Weston Foods’ Ambient division.
In September 2021, The Sanitarium Health Food Company partnered with Life Education and its giraffe-shaped mascot, Healthy Harold, to promote healthy eating and active living in Australian children.
Global Functional Food Market: Segmentation
By Ingredient
Probiotics
Minerals
Proteins and amino acids
Prebiotics and Dietary Fiber
vitamins
Another
By Product
Bakery
Dairy products
Meat
Fish roe
Soy Products
Fats and oils
Another
By Applications
Sports Nutrition
Weight Management
Clinical Nutrition
Cardiovascular Health
Another
By region
North America
Europe
Pacific
LICK
Get detailed market segmentation in https://straitsresearch. com/report/function-food-market/segmentation
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