Global Functional Foods Market: Overview
In the past few years, the global functional foods market has experienced innovation and economic expansion owing to rising consumer awareness regarding their health and nutritional benefits. Functional foods are the medicinal foods that are helpful in preventing diseases, enhancing health, and reducing the healthcare costs.
The demand for functional foods is higher in developed countries. Consumers in developed countries are turning towards functional foods and drinks in order to address perceived nutritional shortfalls. With a valuation of US$8.62 bn, the U.S. was the leading market for functional foods in 2015. According to a survey by the National Center for Biotechnology Information (NCBI) in 2014, nearly 90% of American adults acknowledged the benefits of functional foods.
The report provides an in-depth analysis of the global functional foods market. It does so by offering qualitative and quantitative insights into its dynamics, application segmentation, and competitive landscape. Primary and secondary resources have been taken into account while compiling this study on the functional foods industry. The report also sheds light on the estimated trajectory that each market player is likely to experience during the forecast period.
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Global Functional Foods Market: Drivers and Restraints
The rising prevalence of chronic diseases is prompting consumers to shift towards healthier food consumption. The increasing consumer interest and growing understanding of how a proper diet can enhance immunity are some of the key factors driving the growth of the global functional foods market. Among adult consumers, geriatric population is believed to benefit from functional foods due to age-related problems pertaining to health. Therefore, the rising global geriatric population is bolstering the growth of the market. Moreover, the rising disposable income and increasing demand for fortified food and beverage products are leading to increased uptake of functional foods, thereby propelling the growth of the market.
Although the functional foods product sales have and will continue to rise at a brisk rate, the growth of the market is hampered due to economic issues. The high prices of several products are limiting their adoption. In addition, the global economic downturn is impelling consumers to switch to cheaper groceries. Furthermore, research into consumer perceptions of these products and their associated health claims is limited. Another factor restraining the demand for functional foods is food safety concerns and regulations. These factors, collectively, are impeding the growth of the market. Nevertheless, sustained population rise will lead to a shift of focus from high consumption areas such as the U.S. and Japan to high-population regions such as China and India. This shift is likely to offer immense growth opportunities for the functional foods market in near future.
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Global Functional Foods Market: Key Growth Areas
Based on application, the market is segmented into confectionery, fortified dairy products, bakery and cereals, frozen and chilled food, and functional drinks. The fortified dairy products segment is expected to witness substantial growth owing to the rising popularity of probiotic yogurt drinks in developed countries and the increasing dairy activities in developing countries. The growth of the functional drinks can be attributed to the increasing demand for high-performance drinks in sports and growing consumption of soy milk worldwide. The bakery and cereals segment is likely to flourish owing to growing number of cereal-based products being marketed as an immunity-buster. The rising disposable income is augmenting the growth of the confectionery segment.
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Companies Mentioned in the Report
Unilever, Sanitarium Health & Wellbeing Company, Royal FrieslandCampina, Red Bull GmbH, Raisio Group, PepsiCo Inc., Ocean Spray Cranberries Inc., Nestlé, Murray Goulburn, Meiji Group, Mars Inc., Kraft Foods Inc., Kirin Holdings, Kellogg Company, Danone, GlaxoSmithKline Company, Glanbia Plc., General Mills Inc., Dr Pepper Snapple Group, Dean Foods, The Coca-Cola Company, BNL Food Group, Arla Foods, and Abbott Laboratories.
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The global Functional Foods Market was appreciated at US$ 129.39 Billion in the year 2015.
Increasing awareness about fitness and proper nourishment among the customers are expected to drive the market above the following eight years.
These issues are expected to certainly drive the demand for worldwide business.The Functional Food market on the source of Type of End Use could span Cardio Fitness, Gastrointestinal Fitness, Weight Administration, Scientific Nourishment, Immunity, Sporting nourishment and others.
Those projected to indorse gastrointestinal contaminations produced between people.The division of the market of Functional Foods on the source of Type of Application.
Margarine that comprises fatty acid esters, is intended to reduce the stages of cholesterol for people.
The Functional Foods market on the source of Type of Product could span Vitamins, Minerals, Dietary Fibers, Probiotic & Prebiotic, Fatty Acids, Carotenoids and Others.
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The report further presents the data on percentage volume and market share value by players, by product type, applications, regions, and also price variations.About Functional Foods MarketThe Global Functional Foods market is expected to reach $14.62 billion by 2026, with a projected CAGR of 5.8% during the forecast period.
Functional food is a typical food that has specific nutrients added to it, like vitamins or minerals, fiber, or prebiotics or probiotics.
As a whole, this includes anything added for a particular functional purpose.
The Food and Drug Administration sets the claims that producers can make about functional foods nutrient content and effects on disease, health or body function.
The accessing is monitored by technological advancements, diversified investment habits, in-depth study on a product by defining overview and specifications.The report further shifts the focus on the global Functional Foods market through industry status, growth opportunities, forecasts, key participants, and key players.Important facts about the Functional Foods market reportThe global keyword market report compares different approaches and methods that are very well calibrated by the key players of the Functional Foods market to make accurate business decisions.The Functional Foods market report designs several parameters that include strategic analysis, emerging factors, production value and capacity, and others are also well presented in the research report.The report also helps to reveal market definition, product specifications, market share, value chain analysis, demand and supply ratio, and import/export details.Competitive LandscapeKey players profiled in the report include:Abbott LaboratoriesArla FoodsBNL Food GroupDanoneDean FoodsDr Pepper Snapple GroupGeneral Mills Inc.Glanbia Plc.GlaxoSmithKline CompanyKellogg CompanyKirin HoldingsKraft Foods Inc.Mars Inc.Meiji GroupMurray GoulburnNestléThe prominent industry players profiled in the report that are functional in the Functional Foods market are profiled on the basis of quality, product differentiation, product portfolio, and among others.
Global Functional Foods Market was appreciated at US$ 129.39 Billion in the year 2015.
Increasing awareness about fitness and proper nourishment among the customers are expected to drive the market above the following eight years.
Nourishments are not only planned to fulfill someone's appetite but also to abolish the sicknesses associated with the nourishment.
Get a Free Sample Copy of Report @ https://www.millioninsights.com/industry-reports/functional-food-market/request-sample The Functional Food market on the source of Type of End Use could span Cardio Fitness, Gastrointestinal Fitness, Weight Administration, Scientific Nourishment, Immunity, Sporting nourishment and others.
The functional foods consists of nutrients for example zinc, amino acids glutamine, micronutrients vitamin A and arginine.
Those projected to indorse gastrointestinal contaminations produced between people.
In our aim to bring the best and complete information to our clients, we at Orbis Research present the 2018 Global Functional Foods Market professional survey.
The well curated survey by the leading research experts and domain knowledge professionals provides clients with the true picture of the Global Functional Foods Market.
The survey is expected to push the understanding of the market and its trends for the clients and help drive the market.
The survey report consists of all key parameters such as the industry overview, which includes the definition, specifications, classification, applications, industry chain structure, global and regional analysis of the market, and the policy and news analysis.Owing to the thorough nature of the survey report, it contains an in-depth analysis of the market for the global Functional Foods market as well as for individual regions.
The report also covers the latest trends, developments, upcoming R in the market, and also critical components such as technology, competition, supplies, capacity, production, and price and profit.
Cost structure analysis and manufacturing plans analysis for all parameters is covered in detail in the Global Functional Foods Market survey report.The competition analysis and regional market analysis are the mainstay of the Global Functional Foods Industry survey report.
