The Functional Food Market Research Report 2020 to 2026 presents an in-depth assessment of the Station Functional Food It provides the industry overview with market growth analysis with a historical & futuristic perspective considering the following parameters; cost, revenue, demands, and supply data (as applicable). The bottom-up approach was used to estimate the global market size of Station Functional Food based on end-use applications in the various regions, in terms of USD million. The report covers the historic growth of the market, the impact of the COVID-19, and also forecasts its recovery post-COVID-19. The report also presents forecasts for Functional Food investments from 2020 till 2026.
Top Companies in the Global Functional Food Market
Unilever N.V. (NYSE: UN); BNL Food Group; Dean Foods Company (OTCMKTS: DFODQ); The Coca-Cola Company (NYSE: KO); Arla Foods, among others.
The global functional food market is expected to decline from $174.6 billion in 2019 and to $169.5 billion in 2020 at a compound annual growth rate (CAGR) of -2.9%. The decline is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and reach $209.9 billion in 2023 at a CAGR of 7.4%.
Get Sample PDF Copy of Latest Research on Functional Food Market 2020 Before the purchase
The functional food market consists of sales of functional food and related services. Functional food is highly nutritious and is associated with many health benefits. The benefits include prevention against nutrition deficiencies, protection against diseases, improved cholesterol levels, lower blood pressure, and promote proper growth & development.
The Asia Pacific was the largest region in the functional foods market in 2019.
Key players dealing in the functional food market are increasingly focusing on new product developments and company expansion to meet the rising demand from the consumers. For instance, in September 2019, Tyson Foods Inc. announced the launch of its new brand Pact Snack Bites, a line of functional refrigerated protein snacks. Pack Snacks Bites are produced with fruits, nuts, and functional ingredients such as probiotic cultures, turmeric, kombucha, matcha, collagen protein, and prebiotic fiber.
The higher price of functional food products attributing to the inclusion of healthier or natural ingredients is to limit the growth of the functional food market. The functional foods are sold at higher prices and hold larger profit margins than conventional food. The price of functional food is considerably 30 to 500% above similar conventional foods. Thus, the higher prices of functional food are to act as a major restraint for the growth of the functional food market over the forthcoming years.
In June 2019, Mars, an American manufacturer of pet food, confectionery, and other foods, signed an agreement to acquire a majority stake in Foodspring, a German functional food & beverage company. foodspring was founded in 2013 and is the fastest-growing targeted nutritional business in Europe. The product portfolio of food spring includes protein supplements, snacks, bars, shakes, porridge, and muesli.
The increasing number of diseases is shifting consumer’s focus on healthy eating, which in turn, is projected to boost the demand for functional foods. Functional food provides the human body with healthy nutrition, vitamins & minerals, and reduce the risk of diseases. According to the Centre for Disease Control and Prevention, heart disease is a leading case of death in the USA, and about 6,47, 000 Americans die from heart disease every year, which is one of every 4 deaths. Therefore, the increasing number of cardiovascular and other diseases across the globe is anticipated to generate higher demand for a healthy diet, which in turn, is likely to propel the revenues for the functional food market over the forecast period.
The Functional Food market can be divided based on product types and its sub-type, major applications and Third Party usage area, and important regions.
This report segments the global Functional Food Market based on Types are:
Bakery & Cereals; Dairy Products; Meat, Fish & Eggs; Soy Products; Fats & Oils; Others
Based on Application, the Global Functional Food Market is Segmented into:
Sports Nutrition; Weight Management; Immunity; Digestive Health; Clinical Nutrition; Cardio Health; Others
Regions Are covered By Functional Food Market Report 2020 To 2026.
North America, Europe, China, Japan, Southeast Asia, India.
North America (USA, Canad, and Mexico).
Europe (Germany, France, UK, Russia, and Italy).
Asia-Pacific (China, Japan, Korea, India, and Southeast Asia).
The report has 150 tables and figures browse the report description and TOC
Significant Features that are under Offering and Key Highlights of the Reports:
-Detailed overview of Functional Food Market
-Changing Functional Food market dynamics of the industry
-In-depth market segmentation by Type, Application, etc.
-Historical, current and projected Functional Food market size in terms of volume and value
Recent industry trends and developments
-Competitive landscape of Functional Food Market
-Strategies of key players and product offerings
-Potential and niche segments/regions exhibiting promising growth.
Frequently Asked Questions about Functional Food market:
– What are the recent developments and government policies?
– Why might we forecast a downturn in a particular economy next year?
– Why do we say the currency is set to appreciate?
– What countries and sectors offer the highest potential?
– Where are the greatest dangers?
We Also Offer Customization on report based on specific client Requirement
Free country Level analysis for any 5 countries of your choice.
Free Competitive analysis of any 5 key market players.
Free 40 analyst hours to cover any other data point.
All the reports that we list have been tracking the impact of COVID-19 on the market. Both upstream and downstream of the entire supplychain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.
Market Insights Reports is an online market research reports library of 500,000 in-depth studies of over 5000 micro markets. Market Insights Reports offers research studies on agriculture, energy and power, chemicals, environment, medical devices, healthcare, food, and beverages, water, advanced materials, and much more.