Global Functional Food Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

Global Functional Food Market is segmented by Product Type (Bakery/ Breakfast Cereals, Functional Bar, Yogurt, Other Product types), By Distribution Channel (Convenience Stores, Hypermarkets/Supermarkets, Specialist Retailers, Online Retailers, Other Distribution Channels), and Geography.

Market Snapshot

Global Functional Food Market Summary
Study Period: 2016 - 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: North America
CAGR: 6.78 %

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Market Overview

Global Functional Food Market is projected to grow at a CAGR of 6.78% during the forecast period 2020-2025.

  • Functional food offers specific health benefits that are beyond the regular daily intake of nutrients, such as, improved mental energy, immune system strengthening, improved bone health, cholesterol management, improved heart health, and other benefits associated with eye health and vision.
  • Utilizing ingredients, such as natural food/beverage colors, low-calorie natural sweeteners, and kosher ingredients, is in vogue. Manufacturers are embracing innovation to gain cost-leadership and fixed suppliers in the early development stage. One of the major advantages of functional food is that consumers are readily paying a premium for its various functional advantages.​

Scope of the Report

Global Functional Food Market is segmented by product type, distribution channel, and geography. On the basis of product type, the market is segmented into bakery/breakfast cereals, functional bar, yogurt, other product types. By distribution channel, the market is segmented into convenience stores, hypermarkets/supermarkets, specialist retailers, online retailers, other distribution channels. Based on geography, the report offers a detailed analysis of the regions, which includes North America, South America, Europe, Asia-Pacific, Middle East & Africa.

By Product Type
Bakery/ Breakfast Cereals
Functional Bar
Sports Bar
Energy Bar
Protein Bar
Yogurt
Other Product types
By Distribution Channel
Hypermarkets/Supermarkets
Specialist Retailers
Convenience Stores
Online Retailers
Other Distribution Channels
Geography
North America
United States
Canada
Mexico
Rest of North America
Europe
Germany
United Kingdom
France
Russia
Spain
Italy
Rest of Europe
Asia Pacific
India
China
Japan
Australia
Rest of Asia Pacific
South America
Brazil
Argentina
Rest of South America
Middle East and Africa
United Arab Emirates
South Africa
Rest of Middle East and Africa

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Key Market Trends

Increasing Adoption of Healthy Eating Habits

The growing population and change in food fashion among people are the major drivers for the market. Individuals are more concerned about health and are willing to pay extra for food that is specifically beneficial to health. Therefore this tendency and awareness among people help the functional food market to grow. The market share in developed countries is captured by health-conscious people, such as pregnant women, guardians of infants and the older population, as they are mostly aware of the benefits associated with functional ingredient fortified food and beverages. However, in developing countries, there is an increase in health concern among people as well, due to enhanced disposable income, which drives the market to grow in the forecast period.

global functional food market

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North America and Europe Dominates the Market

North America and Europe are the major markets for functional food products. Increasing consumer interest, and a better understanding of the immunity-enhancing property of proper diet and food habits, are some of the key factors driving the growth of regions vitamin fortified and mineral enriched food & beverage products sale. Asia-Pacific is the fastest-growing region, as countries like such as Japan and China, manufacturers are becoming more creative with dairy packaging, ingredients, and flavors, hence, introducing fortified variants easily, which in turn boosting the functional food market.

global functional food market

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Competitive Landscape

Global functional food market is fragmented and competitive in nature having a large number of domestic and multinational players competing for market share. Companies focusing on new product launches with healthier ingredients/organic claims along with acquisition, merger, partnership, and expansions as their key marketing strategy. Some of the major players in the market studied are Abbott, KELLOGG NA Co, Nestle, and Hearthside Food Solutions LLC, among others.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Porters Five Forces Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Product Type

      1. 5.1.1 Bakery/ Breakfast Cereals

      2. 5.1.2 Functional Bar

        1. 5.1.2.1 Sports Bar

        2. 5.1.2.2 Energy Bar

        3. 5.1.2.3 Protein Bar

      3. 5.1.3 Yogurt

      4. 5.1.4 Other Product types

    2. 5.2 By Distribution Channel

      1. 5.2.1 Hypermarkets/Supermarkets

      2. 5.2.2 Specialist Retailers

      3. 5.2.3 Convenience Stores

      4. 5.2.4 Online Retailers

      5. 5.2.5 Other Distribution Channels

    3. 5.3 Geography

      1. 5.3.1 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Canada

        3. 5.3.1.3 Mexico

        4. 5.3.1.4 Rest of North America

      2. 5.3.2 Europe

        1. 5.3.2.1 Germany

        2. 5.3.2.2 United Kingdom

        3. 5.3.2.3 France

        4. 5.3.2.4 Russia

        5. 5.3.2.5 Spain

        6. 5.3.2.6 Italy

        7. 5.3.2.7 Rest of Europe

      3. 5.3.3 Asia Pacific

        1. 5.3.3.1 India

        2. 5.3.3.2 China

        3. 5.3.3.3 Japan

        4. 5.3.3.4 Australia

        5. 5.3.3.5 Rest of Asia Pacific

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Middle East and Africa

        1. 5.3.5.1 United Arab Emirates

        2. 5.3.5.2 South Africa

        3. 5.3.5.3 Rest of Middle East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Strategies Adopted by Leading Players

    2. 6.2 Most Active Companies

    3. 6.3 Market Share Analysis

    4. 6.4 Company Profiles

      1. 6.4.1 Tyson Foods, Inc

      2. 6.4.2 Nestle SA

      3. 6.4.3 Hearthside Food Solutions LLC

      4. 6.4.4 Valio Eesti AS

      5. 6.4.5 Kellogg NA Co

      6. 6.4.6 Abbott

      7. 6.4.7 PepsiCo

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

  8. 8. AN ASSESSMENT OF THE IMPACT OF COVID-19 ON THE INDUSTRY

**Subject to Availability

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Frequently Asked Questions

The Global Functional Food Market market is studied from 2016 - 2026.

The Global Functional Food Market is growing at a CAGR of 6.78% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2020.

Tyson Foods, Inc, Nestlé SA, Hearthside Food Solutions LLC, Kellogg NA Co, Abbott are the major companies operating in Global Functional Food Market .

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