Functional Food

Functional Food Market is Set to Grow to $ 309 Billion by 2027

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The functional food market size accounted for US$ 175 billion in 2020 and is estimated to reach US$ 309 billion by 2027 and is anticipated to register a CAGR of 7.5% from 2020 to 2027.

The report provides the overall revenue of the global functional food market from 2016 to 2027, considering 2020 as the base year and 2027 as the forecast year.

Report Highlights

  • The Asia Pacific encountered as the largest markets accounting for more than 40% of overall value share in 2019 due to the rising disposable income coupled with burgeoning population
  • North America and Europe are the other most prominent revenue contributors owing to awareness among consumers pertaining to maintain good health and fitness through dietary plan
  • Dairy products led the global market in terms of value in 2019, followed by the bakery & cereals segment and predicted to expand at a CAGR of nearly 8% during the analysis period
  • New developments across the bakery & cereals sector anticipated to boost the market growth during the forecast timeframe
  • By ingredients, vitamins dominated the global market in 2019, followed by dietary fibers and minerals
  • The prebiotics & probiotics segment expected to register the fastest growth during the analysis period owing to its capability to enhance the functionality of some groups of beneficial bacteria
  • Based on application, cardio health encountered the largest value share accounting for nearly 24% in 2019 because of rising demand for functional food in congestive heart failure, cardiovascular diseases, congenital heart defects, and hardening of arteries
  • Digestive health expected to register significant growth over in the upcoming time-period due to great interest among women during the course of their reproductive life

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Growth Factors

The increasing prevalence of chronic diseases prompts consumers to shift towards healthier food consumption habits. Rising interest of consumer regarding immunity benefits of a proper diet accounts for the key factor that drives the growth of functional foods market across the globe. Geriatric population believed to get the maximum benefit from functional foods because of age-related health problems. Consequently, burgeoning geriatric population across the globe expected to bolster the market growth. Moreover, the rising disposable income along with increasing demand for fortified food & beverage products leads to increased uptake of functional foods this in turn propels the growth of the market.

On the other hand, high prices of several functional food products limit their adoption that in turn expected to hamper the overall market growth over the forecast timeframe. In addition, downturn in the global economy has impelled consumer to switch towards low priced products and groceries. Furthermore, as per a research conducted on consumer perception on the functional food products regarding their health claims found to be limited. Thus, the above-mentioned factors expected to restrict the adoption functional food across globe on a larger scale. Additionally, food safety and related regulations also accounts to restrict the market growth. Nonetheless, rising population across developing countries expected to propel the market growth over the forecast timeframe.

Report Scope of the Functional Food Market

Report Highlights Details
Market Size USD 309 Billion by 2027
Growth Rate CAGR of 7.5% from 2021 to 2027
Largest Market Asia Pacific
Fastest Growing Market North America
Base Year 2021
Forecast Period 2021 to 2027
Segments Covered Product, Ingredient, Application, Region
Companies Mentioned Cargill, BASF, General Mills Inc., Standard Functional Foods Group Inc., Coca-Cola Co., GFR Pharma, Nutri-Nation, KFSU, Amway, Herbalife, and Arla Foods

Regional Snapshots

The Asia Pacific emerged as the dominant market in the year 2019 because of a substantial rise in the disposable income of consumers. The functional food industry is also strengthened by the favorable support offered by the government bodies in various countries of the region. Further, to for rising combat concerns related to malnutrition various regulatory bodies have increased their focus on food fortification. This has significantly influenced the consumer behavior, thereby drives the demand for functional food products in the region.

Key Players & Strategies

The global functional food market is highly competitive owing to presence of large number of regional and international players. These industry participants focus primarily on manufacturing facilities and distribution channels in various regions across the globe. For instance, in June 2017, Amway announced to open a new distribution center in the major Thai market. Amway is a prominent seller of dietary supplements in the functional food market. Similarly, in October 2016, ADM introduced a new line of vegetable & fruit functional extracts that can provide a concentrated dose of powerful antioxidant compounds anthocyanins and beta-carotene in a variety of foods, beverages and supplement applications.

Dominating players in the market have strong footprint on the global and offer tough challenge for new entrant to establish their foothold. Despite of this, the prospective and new industry players invest prominently on the research & development (R&D) activity to withstand the competition prevalent in the industry.

Some of the prominent players in the functional food market include:

  • Cargill
  • BASF
  • General Mills Inc.
  • Standard Functional Foods Group Inc.
  • Coca-Cola Co.
  • GFR Pharma
  • Nutri-Nation
  • KFSU
  • Amway
  • Herbalife
  • Arla Foods

Segments Covered in the Report

This research study comprises complete valuation of the market revenue with the help of widespread quantitative and qualitative insights, and prognoses of the market. This report presents breakdown of market into forthcoming and niche segments. Additionally, this research study gauges market revenue growth and its drift at global, regional, and country from 2016 to 2027. This report includes market division and its revenue assessment by categorizing it depending on product, ingredient, application, and region:

By Product

  • Dairy Products
  • Bakery & Cereals
  • Meat, Fish & Eggs
  • Fats & Oils
  • Soy Products
  • Others

By Ingredient

  • Dietary Fibers
  • Carotenoids
  • Minerals
  • Fatty Acids
  • Vitamins
  • Prebiotics & Probiotics
  • Others

By Application

  • Weight Management
  • Sports Nutrition
  • Digestive Health
  • Immunity
  • Cardio Health
  • Clinical Nutrition
  • Others

By Regional Outlook

  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
  • Rest of the World

TABLE OF CONTENT

Chapter 1. Introduction

1.1. Research Objective
1.2. Scope of the Study
1.3. Definition

Chapter 2. Research Methodology

2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations

Chapter 3. Executive Summary

3.1. Market Snapshot

Chapter 4. Market Variables and Scope

4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis

Chapter 5. Market Dynamics Analysis and Trends

5.1. Market Dynamics
5.1.1. Market Drivers
5.1.2. Market Restraints
5.1.3. Market Opportunities
5.2. Porter’s Five Forces Analysis
5.2.1. Bargaining power of suppliers
5.2.2. Bargaining power of buyers
5.2.3. Threat of substitute
5.2.4. Threat of new entrants
5.2.5. Degree of competition

Chapter 6. Competitive Landscape

6.1.1. Company Market Share/Positioning Analysis
6.1.2. Key Strategies Adopted by Players
6.1.3. Vendor Landscape
6.1.3.1. List of Suppliers
6.1.3.2. List of Buyers

Chapter 7. Global Functional Food Market, By Product

7.1. Functional Food Market, by Product Type, 2020-2027
7.1.1. Dairy Products
7.1.1.1. Market Revenue and Forecast (2016-2027)
7.1.2. Bakery & Cereals
7.1.2.1. Market Revenue and Forecast (2016-2027)
7.1.3. Meat, Fish & Eggs
7.1.3.1. Market Revenue and Forecast (2016-2027)
7.1.4. Fats & Oils
7.1.4.1. Market Revenue and Forecast (2016-2027)
7.1.5. Soy Products
7.1.5.1. Market Revenue and Forecast (2016-2027)
7.1.6. Others
7.1.6.1. Market Revenue and Forecast (2016-2027)

Chapter 8. Global Functional Food Market, By Application

8.1. Functional Food Market, by Application, 2020-2027
8.1.1. Weight Management
8.1.1.1. Market Revenue and Forecast (2016-2027)
8.1.2. Sports Nutrition
8.1.2.1. Market Revenue and Forecast (2016-2027)
8.1.3. Digestive Health
8.1.3.1. Market Revenue and Forecast (2016-2027)
8.1.4. Immunity
8.1.4.1. Market Revenue and Forecast (2016-2027)
8.1.5. Cardio Health
8.1.5.1. Market Revenue and Forecast (2016-2027)
8.1.6. Clinical Nutrition
8.1.6.1. Market Revenue and Forecast (2016-2027)
8.1.7. Others
8.1.7.1. Market Revenue and Forecast (2016-2027)

Chapter 9. Global Functional Food Market, By Ingredient

9.1. Functional Food Market, by Ingredient, 2020-2027
9.1.1. Dietary Fibers
9.1.1.1. Market Revenue and Forecast (2016-2027)
9.1.2. Carotenoids
9.1.2.1. Market Revenue and Forecast (2016-2027)
9.1.3. Minerals
9.1.3.1. Market Revenue and Forecast (2016-2027)
9.1.4. Fatty Acids
9.1.4.1. Market Revenue and Forecast (2016-2027)
9.1.5. Vitamins
9.1.5.1. Market Revenue and Forecast (2016-2027)
9.1.6. Prebiotics & Probiotics
9.1.6.1. Market Revenue and Forecast (2016-2027)
9.1.7. Others
9.1.7.1. Market Revenue and Forecast (2016-2027)

Chapter 10. Global Functional Food Market, Regional Estimates and Trend Forecast

10.1. North America
10.1.1. Market Revenue and Forecast, by Product (2016-2027)
10.1.2. Market Revenue and Forecast, by Application (2016-2027)
10.1.3. Market Revenue and Forecast, by Ingredient (2016-2027)
10.1.4. U.S.
10.1.4.1. Market Revenue and Forecast, by Product (2016-2027)
10.1.4.2. Market Revenue and Forecast, by Application (2016-2027)
10.1.4.3. Market Revenue and Forecast, by Ingredient (2016-2027)
10.1.5. Rest of North America
10.1.5.1. Market Revenue and Forecast, by Product (2016-2027)
10.1.5.2. Market Revenue and Forecast, by Application (2016-2027)
10.1.5.3. Market Revenue and Forecast, by Ingredient (2016-2027)
10.2. Europe
10.2.1. Market Revenue and Forecast, by Product (2016-2027)
10.2.2. Market Revenue and Forecast, by Application (2016-2027)
10.2.3. Market Revenue and Forecast, by Ingredient (2016-2027)
10.2.4. UK
10.2.4.1. Market Revenue and Forecast, by Product (2016-2027)
10.2.4.2. Market Revenue and Forecast, by Application (2016-2027)
10.2.4.3. Market Revenue and Forecast, by Ingredient (2016-2027)
10.2.5. Germany
10.2.5.1. Market Revenue and Forecast, by Product (2016-2027)
10.2.5.2. Market Revenue and Forecast, by Application (2016-2027)
10.2.5.3. Market Revenue and Forecast, by Ingredient (2016-2027)
10.2.6. France
10.2.6.1. Market Revenue and Forecast, by Product (2016-2027)
10.2.6.2. Market Revenue and Forecast, by Application (2016-2027)
10.2.6.3. Market Revenue and Forecast, by Ingredient (2016-2027)
10.2.7. Rest of Europe
10.2.7.1. Market Revenue and Forecast, by Product (2016-2027)
10.2.7.2. Market Revenue and Forecast, by Application (2016-2027)
10.2.7.3. Market Revenue and Forecast, by Ingredient (2016-2027)
10.3. APAC
10.3.1. Market Revenue and Forecast, by Product (2016-2027)
10.3.2. Market Revenue and Forecast, by Application (2016-2027)
10.3.3. Market Revenue and Forecast, by Ingredient (2016-2027)
10.3.4. India
10.3.4.1. Market Revenue and Forecast, by Product (2016-2027)
10.3.4.2. Market Revenue and Forecast, by Application (2016-2027)
10.3.4.3. Market Revenue and Forecast, by Ingredient (2016-2027)
10.3.5. China
10.3.5.1. Market Revenue and Forecast, by Product (2016-2027)
10.3.5.2. Market Revenue and Forecast, by Application (2016-2027)
10.3.5.3. Market Revenue and Forecast, by Ingredient (2016-2027)
10.3.6. Japan
10.3.6.1. Market Revenue and Forecast, by Product (2016-2027)
10.3.6.2. Market Revenue and Forecast, by Application (2016-2027)
10.3.6.3. Market Revenue and Forecast, by Ingredient (2016-2027)
10.3.7. Rest of APAC
10.3.7.1. Market Revenue and Forecast, by Product (2016-2027)
10.3.7.2. Market Revenue and Forecast, by Application (2016-2027)
10.3.7.3. Market Revenue and Forecast, by Ingredient (2016-2027)
10.4. MEA
10.4.1. Market Revenue and Forecast, by Product (2016-2027)
10.4.2. Market Revenue and Forecast, by Application (2016-2027)
10.4.3. Market Revenue and Forecast, by Ingredient (2016-2027)
10.4.4. GCC
10.4.4.1. Market Revenue and Forecast, by Product (2016-2027)
10.4.4.2. Market Revenue and Forecast, by Application (2016-2027)
10.4.4.3. Market Revenue and Forecast, by Ingredient (2016-2027)
10.4.5. North Africa
10.4.5.1. Market Revenue and Forecast, by Product (2016-2027)
10.4.5.2. Market Revenue and Forecast, by Application (2016-2027)
10.4.5.3. Market Revenue and Forecast, by Ingredient (2016-2027)
10.4.6. South Africa
10.4.6.1. Market Revenue and Forecast, by Product (2016-2027)
10.4.6.2. Market Revenue and Forecast, by Application (2016-2027)
10.4.6.3. Market Revenue and Forecast, by Ingredient (2016-2027)
10.4.7. Rest of MEA
10.4.7.1. Market Revenue and Forecast, by Product (2016-2027)
10.4.7.2. Market Revenue and Forecast, by Application (2016-2027)
10.4.7.3. Market Revenue and Forecast, by Ingredient (2016-2027)
10.5. Latin America
10.5.1. Market Revenue and Forecast, by Product (2016-2027)
10.5.2. Market Revenue and Forecast, by Application (2016-2027)
10.5.3. Market Revenue and Forecast, by Ingredient (2016-2027)
10.5.4. Brazil
10.5.4.1. Market Revenue and Forecast, by Product (2016-2027)
10.5.4.2. Market Revenue and Forecast, by Application (2016-2027)
10.5.4.3. Market Revenue and Forecast, by Ingredient (2016-2027)
10.5.5. Rest of LATAM
10.5.5.1. Market Revenue and Forecast, by Product (2016-2027)
10.5.5.2. Market Revenue and Forecast, by Application (2016-2027)
10.5.5.3. Market Revenue and Forecast, by Ingredient (2016-2027)

Chapter 11. Company Profiles

11.1. Cargill
11.1.1. Company Overview
11.1.2. Product Offerings
11.1.3. Financial Performance
11.1.4. Recent Initiatives
11.2. BASF
11.2.1. Company Overview
11.2.2. Product Offerings
11.2.3. Financial Performance
11.2.4. Recent Initiatives
11.3. General Mills Inc.
11.3.1. Company Overview
11.3.2. Product Offerings
11.3.3. Financial Performance
11.3.4. Recent Initiatives
11.4. Standard Functional Foods Group Inc.
11.4.1. Company Overview
11.4.2. Product Offerings
11.4.3. Financial Performance
11.4.4. Recent Initiatives
11.5. Coca-Cola Co.
11.5.1. Company Overview
11.5.2. Product Offerings
11.5.3. Financial Performance
11.5.4. Recent Initiatives
11.6. GFR Pharma
11.6.1. Company Overview
11.6.2. Product Offerings
11.6.3. Financial Performance
11.6.4. Recent Initiatives
11.7. Nutri-Nation
11.7.1. Company Overview
11.7.2. Product Offerings
11.7.3. Financial Performance
11.7.4. Recent Initiatives
11.8. KFSU
11.8.1. Company Overview
11.8.2. Product Offerings
11.8.3. Financial Performance
11.8.4. Recent Initiatives
11.9. Amway
11.9.1. Company Overview
11.9.2. Product Offerings
11.9.3. Financial Performance
11.9.4. Recent Initiatives
11.10. Herbalife
11.10.1. Company Overview
11.10.2. Product Offerings
11.10.3. Financial Performance
11.10.4. Recent Initiatives
11.11. Arla Foods
11.11.1. Company Overview
11.11.2. Product Offerings
11.11.3. Financial Performance
11.11.4. Recent Initiatives

Chapter 12. Research Methodology

12.1. Primary Research
12.2. Secondary Research
12.3. Assumptions

Chapter 13. Appendix

13.1. About Us
13.2. Glossary of Terms

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Precedence Research is a worldwide market research and consulting organization. We give unmatched nature of offering to our customers present all around the globe across industry verticals. Precedence Research has expertise in giving deep-dive market insight along with market intelligence to our customers spread crosswise over various undertakings. Email: sales@flairinsight.com

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