London, May 25, 2023 (GLOBE NEWSWIRE) -- Growing Awareness, Technological Advancements, and the Prevalence of Chronic Diseases Drive Market Expansion
In recent years, awareness has gradually increased concerning the benefits of living healthier. A growing number of consumers now actively seek food products that offer more health benefits beyond basic nutrition. This is primarily being yoked on due to the increasing prevalence of chronic diseases. Whether it is diabetes, obesity, digestive complications, or cardiovascular diseases, more individuals are now looking to consume functional foods that offer targeted benefits such as blood sugar control, weight management, digestive health improvement, and heart health support. A new report of Fairfield Market Research would provide detailed growth outlook and forecast of the functional food industry through 2030.
Moreover, the increase in geriatric populations across the globe is also contributing to the overall number of people adopting functional foods into their respective diets as these people tend to be more susceptible to developing various chronic conditions. Additionally, several advancements in technology and food science have allowed these food products to be developed with enhanced nutrient bioavailability, increased food ingredient stability, as well as improvements in taste, and texture. Factors such as this are slated to boost the trajectory of the global functional food market in the coming years.
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Insights into Segmentation Analysis
The global functional food market is generally segmented based on – product type, ingredients, health benefits, distribution channel, end user, and region. As an overview, in the functional beverages segment, the fortified/functional water sub-segment is slated to index significant growth. Under the probiotic products segment, yoghurt accounted for the highest market share.
Likewise, for energy and nutrition bars, protein bars are expected to remain the leading sub-segment. With respect to functional dairy products, the probiotic yoghurt sub-segment is slated to stay popular. Moreover, as for the gluten-free and lactose-free product segment, the former is expected to account for the majority share in the years ahead.
Insights into Regional Analysis
As per a study conducted by Fairfield Market Research, in North America, there is projected to be a high demand for functional beverages such as fortified juice, functional waters, and sports drinks. Whereas in Europe, the functional dairy products segment is slated to gain the most prominence in the years ahead. On the other hand, the Asia Pacific is expected to remain inclined to the incorporation of herbal and traditional functional foods, thus resulting in a greater market share for this region.
Key Market Players
Dean Foods, Danone, Nestle, Marico, General Mills, Unilever, Mondelez International, Stonyfield Farm Inc., Yakult Honsha, Sanitarium Health, Raisio Group, Royal FrieslandCampina N.V., Kraft Foods Inc., Kellogs, and The Kraft Heinz Company, constitute some of the major competitors dominating the competitive landscape of the global functional food market.
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Global Functional Food Market is Segmented as Below:
Food Type Coverage
- Dairy Products
- Cereal & Flour
- Bakery & Confectionary
- Sweet & Savory Snacks
- Breakfast Cereals
- Infant Food
- Misc.
Distribution Channel Coverage
- Supermarkets & Hypermarkets
- Specialty Stores
- Online Stores
- Misc. (Pharmacies, etc.)
Geographical Coverage
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Leading Companies
- Nestlé S.A.
- General Mills Inc.
- The Kellogg Company
- Danone S.A.
- PepsiCo Inc.
- Arla Foods amba
- The Coca Cola Company
- Cargill Inc.
- Herbalife
- The Craft Heinz Company
- Archer Daniels Midland Company
Key Elements Included In The Study: Global Functional Food Market
- Functional Food Market by Product/Technology/Grade, Application/End-user, and Region
- Executive Summary (Opportunity Analysis and Key Trends)
- Historical Market Size and Estimates, Value, 2019 - 2022
- Market Value at Regional and Country Level, 2023 - 2030
- Market Dynamics and Economic Overview
- Market Size in Value, Growth Rates, and Forecast Figures, 2023 - 2030
- Competitive Intelligence with Financials, Key Developments, and Portfolio of Leading Companies
- Regional and Product/Grade/Application/End-user Price Trends Analysis
- Value Chain and Five Force’s Analysis
- Regional/Sub-region/Country Market Size and Trend Analysis
- Company Market Share Analysis and Key Player Profiles
About Us
Fairfield Market Research is a UK-based market research provider. Fairfield offers a wide spectrum of services, ranging from customized reports to consulting solutions. With a strong European footprint, Fairfield operates globally and helps businesses navigate through business cycles, with quick responses and multi-pronged approaches. The company values an eye for insightful take on global matters, ably backed by a team of exceptionally experienced researchers. With a strong repository of syndicated market research reports that are continuously published & updated to ensure the ever-changing needs of customers are met with absolute promptness.
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