Know More About “Functional Foods Market 2019-2025” Growth Worldwide…..|Grand View Research, Inc.



The global functional foods market size is projected to reach USD 275.77 billion by 2025, according to a new report by Grand View Research, Inc. It is anticipated to expand at a CAGR of 7.9% during the forecast period. Increasing demand for nutritional and fortifying food additives is one of the major growth drivers. Functional ingredients such as probiotics and omega-3 fatty acids are extensively consumed through yogurt and fish oils to reduce the instances and risks associated with cardiovascular diseases while improving the quality of intestinal microflora. The increasing trend of consuming these products is expected to sustain throughout the forecast period, thereby favoring market growth.
Another important factor augmenting the demand is the rising consumer awareness regarding gut health. This is in reaction to reported cases of death owing to intestinal inflammation among other bowel disorders. Consumption of probiotics helps fight bad bacteria in such cases while aiding immunity in humans, thereby enhancing the gut health. Among the various products available in the market, probiotic yogurts are the most widely consumed products with proven digestive health claims. However, the functional food industry also has its share of challenges. Among various challenges, issues associated with product availability coupled with claims regarding insufficient nutrients derived from various functional food types has been hindering growth of the functional foods market.
Asia Pacific emerged as the largest market in 2018 owing to a considerable rise in disposable income of consumers. The industry is also strengthened by the support offered by government bodies in various countries in this region. In this regard, to combat concerns associated with malnutrition, various government bodies have been increasingly focusing on food fortification. This development has also been influencing consumer behavior, thereby driving the regional demand for functional food products.
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The competitive landscape of the market is characterized by the presence of key companies. The key market players have their distribution channels and manufacturing locations spread across the globe. The presence of dominant players has made it challenging for new entrants to gain a foothold in the market. However, new and prospective players have been investing in R&D activities to withstand the competition prevailing in the industry. Some of the key players include BASF SE; Cargill Inc.; General Mills, Inc.; Coca-Cola Co.; Standard Functional Foods Group, Inc.; and GFR Pharma.
Further key findings from the report suggest:
·         In terms of ingredient, vitamins emerged as the largest segment in 2018, registering a revenue of USD 36.16 billion. The segment is expected to expand at a CAGR of 7.7% over the forecast period
·         In terms of product, soy is expected to register the fastest CAGR over the forecast period. Growing popularity of dairy products such as milk drinks, spreads, and yogurts across the globe has contributed significantly to the growth of this segment
·         In terms of application, cardio health emerged as the largest segment in 2018 and is expected to maintain its pole position over the forecast period. High prevalence of cardiovascular diseases and reported cases of deaths pertaining to the same have increased the application of functional food products in this segment
·         Asia Pacific is expected to witness the fastest growth over the forecast period. Led by countries such as China, India, and Japan, the functional foods market is driven by various government initiatives to promote healthy lifestyle
·         The market represents a highly competitive landscape with a sizable number of players sharing the market space. The key players have been focusing on global expansion while strengthening their positon in domestic markets
·         The key market participants include BASF SE; Cargill; General Mills Inc.; Coca-Cola Co.; Standard Functional Foods Group Inc.; GFR Pharma; and KFSU among others.
On the basis of ingredients, the market is categorized into carotenoids, dietary fibers, fatty acids, minerals, prebiotics and probiotics, and vitamins, among others. The vitamins segment led the overall market in 2018, in terms of revenue, followed by dietary fibers and minerals.
A large number of benefits are associated with the consumption of fiber including bowel health maintenance, lowering cholesterol levels, and controlling blood sugar levels, among others. These advantages, coupled with growing functional food industry, are expected to play a key role in growth of the dietary fiber segment.
Dietary fiber found mainly in fruits, vegetables, whole grains, and legumes is probably best known for its ability to prevent or relieve constipation. Although foods containing fiber can provide other health benefits as well, such as maintenance of healthy weight and lowering the risk of diabetes and heart disease.
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The global functional foods market serves various application segments including sports nutrition, weight management, immunity, digestive health, clinical nutrition, and cardio health among others. Cardio health was the dominant segment and accounted for 24.2% of market share in 2018. It is expected to register a CAGR of 8.1% from 2019 to 2025 owing to increasing demand for functional food in cardiovascular diseases, congestive heart failure, hardening of arteries, and congenital heart defects. Digestive health is expected to witness growth owing to strong interest among women throughout their reproductive life and men especially after 40 years of age, to maintain digestive health.
Growing demand for functional foods and beverages owing to number of health objectives including, improving joint health, weight loss, and bone and muscle strength. These food products can also reduce the risk of cardiovascular diseases and type 2 diabetes by enhancing digestion. They also decrease wrinkles. Functional foods promote optimal health by reducing risk of non-communicable diseases, boosting metabolism, improving nutrition absorption, aid better digestion and help lose weight. Consumer preference for reduced sugar intake is expected to positively influence the growth.
Grand View Research has segmented the global functional foods market on the basis of ingredient, product, application, and region:
Functional Food Ingredient Outlook (Revenue, USD Million, 2014 - 2025)
·         Carotenoids
·         Dietary Fibers
·         Fatty Acids
·         Minerals
·         Prebiotics & Probiotics
·         Vitamins
·         Others
Functional Food Product Outlook (Revenue, USD Million, 2014 - 2025)
·         Bakery & Cereals
·         Dairy Products
·         Meat, Fish & Eggs
·         Soy Products
·         Fats & Oils
·         Others
Functional Food Application Outlook (Revenue, USD Million, 2014 - 2025)
·         Sports Nutrition
·         Weight Management
·         Immunity
·         Digestive Health
·         Clinical Nutrition
·         Cardio Health
·         Others
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.


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