Functional Foods Market
Functional Foods Market Forecasts to 2030 - Global Analysis By Product (Bakery Products, Breakfast Cereals, Snack/Functional Bars, Dairy Products, Baby Food and Other Product Types), Ingredient, Distribution Channel, Application and By Geography
According to Stratistics MRC, the Global Functional Foods Market is accounted for $378.7 billion in 2024 and is expected to reach $689.4 billion by 2030 growing at a CAGR of 10.5% during the forecast period. Functional foods are those that provide health benefits beyond basic nutrition. They contain bioactive compounds, such as vitamins, minerals, antioxidants, and phytochemicals, which can enhance overall well-being and reduce the risk of certain diseases. Unlike conventional foods, functional foods are specifically designed or selected to support optimal health or prevent specific health issues. Examples include fortified cereals, probiotic yogurt, and foods enriched with omega-3 fatty acids. These foods are part of a broader approach to health and wellness, focusing on the role of diet in maintaining and improving health rather than just meeting basic nutritional needs.
According to the Japanese Health and Beauty report, in 2021, 1145 products were registered as functional foods.
Market Dynamics:
Driver:
Increasing health consciousness and preventive healthcare
People becoming more aware of the link between diet and health, and they seek foods that offer additional benefits beyond basic nutrition, such as disease prevention and enhanced wellness. This trend boosts demand for functional foods enriched with vitamins, minerals, probiotics, and other beneficial compounds. Consequently, food manufacturers are innovating and expanding their product lines to meet consumer needs, leading to a dynamic market with a growing emphasis on health-promoting attributes and evidence-based benefits.
Restraint:
Consumer perception and trust
Concerns about efficacy, potential side effects, or misleading health claims can undermine consumer confidence. If consumers question the scientific validity of the health benefits claimed or feel misled by marketing practices, they may avoid purchasing functional foods. Additionally, inconsistent quality and lack of regulatory oversight can further erode trust, leading to reduced market demand.
Opportunity:
Popularity of high-protein diets
Consumers seeking to boost muscle mass, manage weight, or enhance overall health are turning to functional foods that offer high protein content, such as fortified snacks, beverages, and meal replacements. This trend prompts food manufacturers to innovate and develop a wide range of high-protein functional foods, to cater to health-conscious consumers. As a result, the market sees growth in products that combine protein with other health-promoting ingredients like vitamins and probiotics encouraging the growth of the market.
Threat:
Time-consuming and expensive development and launches
High costs associated with research, ingredient sourcing, formulation, clinical trials, and regulatory approvals can be prohibitive for manufacturers, particularly smaller companies. Long development timelines delay market entry, limiting responsiveness to consumer trends and competitive positioning. Additionally, these costs can lead to higher prices for consumers, potentially reducing market accessibility and demand.
Covid-19 Impact:
The heightened awareness of the importance of nutrition in supporting immune function drove demand for foods fortified with vitamins, minerals, and other health-boosting ingredients. People sought products that could enhance overall well-being, leading to a surge in sales of functional foods like probiotics, omega-3 enriched items, and antioxidant-rich snacks. Thereby, the pandemic accelerated trends towards preventive healthcare and self-care, reinforcing the market's growth.
The bakery products segment is expected to be the largest during the forecast period
The bakery products is expected to be the largest during the forecast period because functional bakery products, such as breads, pastries, and snacks enriched with whole grains, fibers, proteins, vitamins, and probiotics, cater to health-conscious consumers seeking nutritional advantages without altering their dietary habits. This innovation broadens the functional foods market, attracting a wider consumer base and encouraging regular consumption.
The carotenoids segment is expected to have the highest CAGR during the forecast period
The carotenoids segment is expected to have the highest CAGR during the forecast period due to their health benefits, such as antioxidant properties and potential roles in reducing chronic disease risks. Their inclusion in functional foods enhances the appeal of products like fortified beverages, dairy, and snacks, attracting health-conscious consumers. The demand for carotenoid-enriched foods drives innovation in food formulation, boosting market growth.
Region with largest share:
North America is projected to hold the largest market share during the forecast period due to increasing health consciousness and a shift towards preventive healthcare. Consumers in the region are increasingly seeking foods that provide specific health benefits, such as enhanced immunity, improved digestion, and better heart health. Further rising awareness about the link between diet and health propels demand for functional foods boosts the growth of the market in this region.
Region with highest CAGR:
Asia Pacific is projected to hold the highest CAGR over the forecast period owing to governments in the region who are increasingly supporting the development and marketing of functional foods through favorable regulations and policies. Hence there is a high demand for functional foods incorporating traditional ingredients like green tea, ginseng, and turmeric, which are believed to have health benefits and countries like Japan and South Korea have aging populations that seek functional foods for better health and longevity.
Key players in the market
Some of the key players in Functional Foods market include Amway Corp., Arla Foods amba, BASF SE, Cargill, Incorporated, Celsius Holding, Inc., Danone S.A., General Mills Inc, GFR Pharma, Glanbia Plc, Hearthside Food Solutions LLC, Herbalife International of America, Inc., PepsiCo Inc., Standard Functional Foods Group Inc., The Coca-Cola Company and Tyson Foods Inc.
Key Developments:
In July 2024, BASF introduced Haptex® 4.0: The future of sustainable synthetic leather synthetic leather made with Haptex 4.0 and polyethylene terephthalate (PET) fabric can be recycled together using an innovative formulation and recycling technical pathway without the need of layer peel-off process.
In July 2024, BASF and ‘Pragati’ extended full transparency & traceability to bio-based footwear solutions with SuCCESS code. The footwear segment has been at the forefront of implementing sustainable solutions at BASF.
In April 2024, Cargill and local farmers collaborate in conservation monitoring of 10,000 trees in village forest. Data collection is done using the Bumi Baik digital application to evaluate tree species, development and distribution of trees planted using geotags.
Products Covered:
• Bakery Products
• Breakfast Cereals
• Snack/Functional Bars
• Dairy Products
• Baby Food
• Other Product Types
Ingredients Covered:
• Carotenoids
• Dietary Fibers
• Fatty Acids
• Minerals
• Prebiotics & Probiotics
• Vitamins
• Other Ingredients
Distribution Channels Covered:
• Supermarkets/Hypermarkets
• Specialty Stores
• Convenience/Grocery Stores
• Online Retail Stores
• Other Distribution Channels
Applications Covered:
• Sports Nutrition
• Weight Management
• Immunity
• Digestive Health
• Clinical Nutrition
• Cardio Health
• Other Applications
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Product Analysis
3.7 Application Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Functional Foods Market, By Product
5.1 Introduction
5.2 Bakery Products
5.3 Breakfast Cereals
5.4 Snack/Functional Bars
5.5 Dairy Products
5.6 Baby Food
5.7 Other Product Types
6 Global Functional Foods Market, By Ingredient
6.1 Introduction
6.2 Carotenoids
6.3 Dietary Fibers
6.4 Fatty Acids
6.5 Minerals
6.6 Prebiotics & Probiotics
6.7 Vitamins
6.8 Other Ingredients
7 Global Functional Foods Market, By Distribution Channel
7.1 Introduction
7.2 Supermarkets/Hypermarkets
7.3 Specialty Stores
7.4 Convenience/Grocery Stores
7.5 Online Retail Stores
7.6 Other Distribution Channels
8 Global Functional Foods Market, By Application
8.1 Introduction
8.2 Sports Nutrition
8.3 Weight Management
8.4 Immunity
8.5 Digestive Health
8.6 Clinical Nutrition
8.7 Cardio Health
8.8 Other Applications
9 Global Functional Foods Market, By Geography
9.1 Introduction
9.2 North America
9.2.1 US
9.2.2 Canada
9.2.3 Mexico
9.3 Europe
9.3.1 Germany
9.3.2 UK
9.3.3 Italy
9.3.4 France
9.3.5 Spain
9.3.6 Rest of Europe
9.4 Asia Pacific
9.4.1 Japan
9.4.2 China
9.4.3 India
9.4.4 Australia
9.4.5 New Zealand
9.4.6 South Korea
9.4.7 Rest of Asia Pacific
9.5 South America
9.5.1 Argentina
9.5.2 Brazil
9.5.3 Chile
9.5.4 Rest of South America
9.6 Middle East & Africa
9.6.1 Saudi Arabia
9.6.2 UAE
9.6.3 Qatar
9.6.4 South Africa
9.6.5 Rest of Middle East & Africa
10 Key Developments
10.1 Agreements, Partnerships, Collaborations and Joint Ventures
10.2 Acquisitions & Mergers
10.3 New Product Launch
10.4 Expansions
10.5 Other Key Strategies
11 Company Profiling
11.1 Amway Corp.
11.2 Arla Foods amba
11.3 BASF SE
11.4 Cargill, Incorporated
11.5 Celsius Holding, Inc.
11.6 Danone S.A.
11.7 General Mills Inc
11.8 GFR Pharma
11.9 Glanbia Plc
11.10 Hearthside Food Solutions LLC
11.11 Herbalife International of America, Inc.
11.12 PepsiCo Inc.
11.13 Standard Functional Foods Group Inc.
11.14 The Coca-Cola Company
11.15 Tyson Foods Inc.
List of Tables
1 Global Functional Foods Market Outlook, By Region (2022-2030) ($MN)
2 Global Functional Foods Market Outlook, By Product (2022-2030) ($MN)
3 Global Functional Foods Market Outlook, By Bakery Products (2022-2030) ($MN)
4 Global Functional Foods Market Outlook, By Breakfast Cereals (2022-2030) ($MN)
5 Global Functional Foods Market Outlook, By Snack/Functional Bars (2022-2030) ($MN)
6 Global Functional Foods Market Outlook, By Dairy Products (2022-2030) ($MN)
7 Global Functional Foods Market Outlook, By Baby Food (2022-2030) ($MN)
8 Global Functional Foods Market Outlook, By Other Product Types (2022-2030) ($MN)
9 Global Functional Foods Market Outlook, By Ingredient (2022-2030) ($MN)
10 Global Functional Foods Market Outlook, By Carotenoids (2022-2030) ($MN)
11 Global Functional Foods Market Outlook, By Dietary Fibers (2022-2030) ($MN)
12 Global Functional Foods Market Outlook, By Fatty Acids (2022-2030) ($MN)
13 Global Functional Foods Market Outlook, By Minerals (2022-2030) ($MN)
14 Global Functional Foods Market Outlook, By Prebiotics & Probiotics (2022-2030) ($MN)
15 Global Functional Foods Market Outlook, By Vitamins (2022-2030) ($MN)
16 Global Functional Foods Market Outlook, By Other Ingredients (2022-2030) ($MN)
17 Global Functional Foods Market Outlook, By Distribution Channel (2022-2030) ($MN)
18 Global Functional Foods Market Outlook, By Supermarkets/Hypermarkets (2022-2030) ($MN)
19 Global Functional Foods Market Outlook, By Specialty Stores (2022-2030) ($MN)
20 Global Functional Foods Market Outlook, By Convenience/Grocery Stores (2022-2030) ($MN)
21 Global Functional Foods Market Outlook, By Online Retail Stores (2022-2030) ($MN)
22 Global Functional Foods Market Outlook, By Other Distribution Channels (2022-2030) ($MN)
23 Global Functional Foods Market Outlook, By Application (2022-2030) ($MN)
24 Global Functional Foods Market Outlook, By Sports Nutrition (2022-2030) ($MN)
25 Global Functional Foods Market Outlook, By Weight Management (2022-2030) ($MN)
26 Global Functional Foods Market Outlook, By Immunity (2022-2030) ($MN)
27 Global Functional Foods Market Outlook, By Digestive Health (2022-2030) ($MN)
28 Global Functional Foods Market Outlook, By Clinical Nutrition (2022-2030) ($MN)
29 Global Functional Foods Market Outlook, By Cardio Health (2022-2030) ($MN)
30 Global Functional Foods Market Outlook, By Other Applications (2022-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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