Global Functional Food Market 2024-2028
The functional food market is forecasted to grow by USD 127.46 bn during 2023-2028, accelerating at a CAGR of 7.66% during the forecast period. The report on the functional food market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by rising health awareness, rise in demand for new varieties of functional foods, and innovations in ingredients and technologies in functional food.
Technavio's functional food market is segmented as below:
By Distribution Channel
By Product Type
- Dairy products
- Bakery and cereals
- Meat/fish and egg
- Soy products and others
By Geographical Landscape
- APAC
- North America
- Europe
- South America
- Middle East and Africa
This study identifies the emergence of personalized nutrition as one of the prime reasons driving the functional food market growth during the next few years. Also, growing demand for plant-based functional food and increasing focus on gut health will lead to sizable demand in the market.
The report on the functional food market covers the following areas:
- Functional food market sizing
- Functional food market forecast
- Functional food market industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading functional food market vendors that include Abbott Laboratories, Archer Daniels Midland Co., Arla Foods amba, Campbell Soup Co., Cargill Inc., Conagra Brands Inc., Danone SA, General Mills Inc., Good Source Foods Inc., Hildur Functional Foods Pvt. Ltd., Kellogg Co., Laird Superfood Inc., Meiji Holdings Co. Ltd., Mondelez International Inc., Nestle SA, PepsiCo Inc., Raisio plc, Roquette Freres SA, The Coca Cola Co., Tyson Foods Inc., and Unilever PLC. Also, the functional food market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.