Global Functional Foods Market Size study, by Ingredient, by Product, by Application and Regional Forecasts 2022-2032

Description

Global Functional Foods Market is valued at approximately USD 330.45 billion in 2023 and is anticipated to grow with a healthy growth rate of more than 8.6% over the forecast period 2024-2032. Functional foods, characterized by their bioactive compounds or specific ingredients, offer health benefits beyond basic nutrition. These products, including probiotics, prebiotics, antioxidants, omega-3 fatty acids, and fortified foods with added vitamins and minerals, have gained immense popularity as consumers seek to optimize their health through dietary choices. The diverse applications of functional foods range from enhancing digestive health and boosting immunity to reducing the risk of chronic diseases such as heart disease and diabetes, improving cognitive function, and supporting weight management. This growing consumer interest in health and wellness has propelled the functional foods market into a robust growth trajectory.

Increasing health awareness, rise in nutrient-rich food demand, and new product launches are significant drivers in the global market, as consumers are becoming more conscious of the link between diet and health. Health awareness is on the rise globally, driven by growing concerns about lifestyle-related diseases such as obesity, diabetes, and cardiovascular conditions. This has led to an increased focus on preventive healthcare and nutrition, making consumers more likely to seek foods supporting their health goals. A study from the Global Wellness Institute found that the global wellness market is valued at over $4.5 trillion, indicating a significant shift towards healthier lifestyles. Moreover, the expansion in emerging markets, technological advancements in food fortification and rise in online distribution channels present various lucrative opportunities over the forecast years. However, the supply chain disruptions and high production costs are challenging the market growth throughout the forecast period of 2024-2032.

The key regions considered for the Global Functional Foods Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is a dominating region in the Global Functional Foods Market in terms of revenue. The market growth in the region is being attributed to factors including high consumer awareness, a strong emphasis on health and wellness, and significant investments in research and development. The United States leads the market due to its well-established health infrastructure and the growing trend of incorporating functional foods into daily diets. Whereas, the market in Asia Pacific is anticipated to grow at the fastest rate over the forecast period fueled by rising disposable incomes, urbanization, and increasing health consciousness among consumers in countries like China, India, and Japan. Additionally, the growing prevalence of chronic diseases and the shift towards preventive healthcare in Asia-Pacific is driving demand for functional foods, making it a key region for future market expansion.

Major market players included in this report are:

Amway Corp.
Herbalife International of America, Inc.
Cargill, Incorporated
General Mills Inc.
BASF SE
Standard Functional Foods Group Inc.
KFSU
Nutri-Nation
Danone S.A.
Nestle S.A.
PepsiCo Inc.
Unilever
The Coca-Cola Company
GFR Pharma
Arla Foods amba

The detailed segments and sub-segment of the market are explained below:

By Ingredient:

Carotenoids
Dietary Fibers
Fatty Acids
Minerals
Prebiotics & Probiotics
Vitamins
Others

By Product:

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

By Application:

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

By Region:

North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Middle East & Africa
Saudi Arabia
South Africa
RoMEA

Years considered for the study are as follows:

Historical year - 2022
Base year - 2023
Forecast period - 2024 to 2032

Key Takeaways:

Market Estimates & Forecast for 10 years from 2022 to 2032.
Annualized revenues and regional level analysis for each market segment.
Detailed analysis of geographical landscape with Country level analysis of major regions.
Competitive landscape with information on major players in the market.
Analysis of key business strategies and recommendations on future market approach.
Analysis of competitive structure of the market.
Demand side and supply side analysis of the market.

Chapter 1. Global Functional Foods Market Executive Summary

1.1. Global Functional Foods Market Size & Forecast (2022-2032)
1.2. Regional Summary
1.3. Segmental Summary
- 1.3.1. By Ingredient
- 1.3.2. By Product
- 1.3.3. By Application
1.4. Key Trends
1.5. Recession Impact
1.6. Analyst Recommendation & Conclusion

Chapter 2. Global Functional Foods Market Definition and Research Assumptions

2.1. Research Objective
2.2. Market Definition
2.3. Research Assumptions
- 2.3.1. Inclusion & Exclusion
- 2.3.2. Limitations
- 2.3.3. Supply Side Analysis
  - 2.3.3.1. Availability
  - 2.3.3.2. Infrastructure
  - 2.3.3.3. Regulatory Environment
  - 2.3.3.4. Market Competition
  - 2.3.3.5. Economic Viability (Consumer's Perspective)
- 2.3.4. Demand Side Analysis
  - 2.3.4.1. Regulatory frameworks
  - 2.3.4.2. Technological Advancements
  - 2.3.4.3. Environmental Considerations
  - 2.3.4.4. Consumer Awareness & Acceptance
2.4. Estimation Methodology
2.5. Years Considered for the Study
2.6. Currency Conversion Rates

Chapter 3. Global Functional Foods Market Dynamics

3.1. Market Drivers
- 3.1.1. Increasing Health Awareness
- 3.1.2. Rise in Nutrient-Rich Food Demand
- 3.1.3. New Product Launches
3.2. Market Challenges
- 3.2.1. Supply Chain Disruptions
- 3.2.2. High Production Costs
3.3. Market Opportunities
- 3.3.1. Expansion in Emerging Markets
- 3.3.2. Technological Advancements in Food Fortification
- 3.3.3. Growth in Online Distribution Channels

Chapter 4. Global Functional Foods Market Industry Analysis

4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.1.6. Futuristic Approach to Porter's 5 Force Model
- 4.1.7. Porter's 5 Force Impact Analysis
4.2. PESTEL Analysis
- 4.2.1. Political
- 4.2.2. Economical
- 4.2.3. Social
- 4.2.4. Technological
- 4.2.5. Environmental
- 4.2.6. Legal
4.3. Top investment opportunity
4.4. Top winning strategies
4.5. Disruptive Trends
4.6. Industry Expert Perspective
4.7. Analyst Recommendation & Conclusion

Chapter 5. Global Functional Foods Market Size & Forecasts by Ingredient (2022-2032)

5.1. Segment Dashboard
5.2. Global Functional Foods Market: Ingredient Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 5.2.1. Carotenoids
- 5.2.2. Dietary Fibers
- 5.2.3. Fatty Acids
- 5.2.4. Minerals
- 5.2.5. Prebiotics & Probiotics
- 5.2.6. Vitamins
- 5.2.7. Others

Chapter 6. Global Functional Foods Market Size & Forecasts by Product (2022-2032)

6.1. Segment Dashboard
6.2. Global Functional Foods Market: Product Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 6.2.1. Bakery & Cereals
- 6.2.2. Dairy Products
- 6.2.3. Meat, Fish & Eggs
- 6.2.4. Soy Products
- 6.2.5. Fats & Oils
- 6.2.6. Others

Chapter 7. Global Functional Foods Market Size & Forecasts by Application (2022-2032)

7.1. Segment Dashboard
7.2. Global Functional Foods Market: Application Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 7.2.1. Sports Nutrition
- 7.2.2. Weight Management
- 7.2.3. Immunity
- 7.2.4. Digestive Health
- 7.2.5. Clinical Nutrition
- 7.2.6. Cardio Health
- 7.2.7. Others

Chapter 8. Global Functional Foods Market Size & Forecasts by Region (2022-2032)

8.1. North America Functional Foods Market
- 8.1.1. U.S. Functional Foods Market
  - 8.1.1.1. Ingredient breakdown size & forecasts, 2022-2032
  - 8.1.1.2. Product breakdown size & forecasts, 2022-2032
  - 8.1.1.3. Application breakdown size & forecasts, 2022-2032
- 8.1.2. Canada Functional Foods Market
8.2. Europe Functional Foods Market
- 8.2.1. U.K. Functional Foods Market
- 8.2.2. Germany Functional Foods Market
- 8.2.3. France Functional Foods Market
- 8.2.4. Spain Functional Foods Market
- 8.2.5. Italy Functional Foods Market
- 8.2.6. Rest of Europe Functional Foods Market
8.3. Asia-Pacific Functional Foods Market
- 8.3.1. China Functional Foods Market
- 8.3.2. India Functional Foods Market
- 8.3.3. Japan Functional Foods Market
- 8.3.4. Australia Functional Foods Market
- 8.3.5. South Korea Functional Foods Market
- 8.3.6. Rest of Asia Pacific Functional Foods Market
8.4. Latin America Functional Foods Market
- 8.4.1. Brazil Functional Foods Market
- 8.4.2. Mexico Functional Foods Market
- 8.4.3. Rest of Latin America Functional Foods Market
8.5. Middle East & Africa Functional Foods Market
- 8.5.1. Saudi Arabia Functional Foods Market
- 8.5.2. South Africa Functional Foods Market
- 8.5.3. Rest of Middle East & Africa Functional Foods Market

Chapter 9. Competitive Intelligence

9.1. Key Company SWOT Analysis
9.2. Top Market Strategies
9.3. Company Profiles
- 9.3.1. Amway Corp.
  - 9.3.1.1. Key Information
  - 9.3.1.2. Overview
  - 9.3.1.3. Financial (Subject to Data Availability)
  - 9.3.1.4. Product Summary
  - 9.3.1.5. Market Strategies
- 9.3.2. Herbalife International of America, Inc.
- 9.3.3. Cargill, Incorporated
- 9.3.4. General Mills Inc.
- 9.3.5. BASF SE
- 9.3.6. Standard Functional Foods Group Inc.
- 9.3.7. KFSU
- 9.3.8. Nutri-Nation
- 9.3.9. Danone S.A.
- 9.3.10. Nestle S.A.
- 9.3.11. PepsiCo Inc.
- 9.3.12. Unilever
- 9.3.13. The Coca-Cola Company
- 9.3.14. GFR Pharma
- 9.3.15. Arla Foods amba

Chapter 10. Research Process

10.1. Research Process
- 10.1.1. Data Mining
- 10.1.2. Analysis
- 10.1.3. Market Estimation
- 10.1.4. Validation
- 10.1.5. Publishing
10.2. Research Attributes