Market Size of Functional Food Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 2.71 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia-Pacific |
| Market Concentration | Low |
Major Players.webp){kind=logo}
*Disclaimer: Major Players sorted in no particular order |
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Functional Food Market Analysis
The Global Functional Food Market size is expected to grow from USD 186.22 billion in 2023 to USD 212.85 billion by 2028, at a CAGR of 2.71% during the forecast period (2023-2028).
Functional foods offer specific health benefits that are beyond the regular daily intake of nutrients, such as improved bone health, cholesterol management, improved heart health, and other benefits associated with eye health and vision. The increasing demand for nutritional and fortifying food additives is anticipated to drive market growth. Food manufacturers are deploying the fortification of nutritional additives, such as omega-3 fatty acids, fiber, vitamins, and minerals, in their product offerings. The intention of incorporating the aforementioned additives in the food industry is to increase the nutritional content of food items.
Functional food in sports nutrition has emerged as the largest segment due to the increasing commercialization of sports nutrients and the availability of a wide product range, including creatine and whey protein-based functional food. In January 2021, Danone North America launched a new plant-based protein beverage aimed at athletes. Silk Ultra is a multi-serve, dairy-free beverage with 20 grams of soy protein per serving, designed for muscle maintenance and repair. The drink is enriched with calcium and vitamins A, D, B2, and B12 and comes in three flavors: creamy chocolate, unsweet, and original, which, according to the company, includes 2.5 times the protein of typical dairy milk.
