Global Functional Food Market Report 2023: A $305+ Billion Industry by 2028 from $207.7 Billion in 2022 – Trends, Share, Size, Growth, Opportunity and Forecasts
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Global Functional Food Market
Dublin, Sept. 19, 2023 (GLOBE NEWSWIRE) — The “Functional Food Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” report has been added to ResearchAndMarkets.com’s offering.
The global functional food market size reached US$ 207.7 Billion in 2022. Looking forward, the market is set to reach US$ 305.6 Billion by 2028, exhibiting a growth rate (CAGR) of 6.5% during 2023-2028.
The functional food industry is on the rise, offering a range of processed products designed to promote health and reduce the risk of diseases. This category includes a diverse array of items such as fruits, vegetables, nuts, seeds, seafood, and more.
Notably, there’s a growing market for sports nutrition products aimed at enhancing athletes’ performance, including creatine and whey protein-based functional foods. Additionally, the demand for functional foods that mitigate the risk of diabetes and cardiovascular diseases is on the upswing, driven by heightened health awareness and a focus on healthy eating habits.
The trend of on-the-go snacking is also contributing to market growth. Key players are leveraging social media to promote their unique products, further fueling demand. Furthermore, the rising interest in probiotic foods for digestive health and the adoption of innovative technologies in product formulation are expected to bolster market expansion in the future.
Key Questions Answered in This Report:
- What was the size of the global functional food market in 2022?
- What is the expected growth rate of the global functional food market during 2023-2028?
- What has been the impact of COVID-19 on the global functional food market?
- What are the key factors driving the global functional food market?
- What is the breakup of the global functional food market based on the product type?
- What is the breakup of the global functional food market based on the ingredient?
- What is the breakup of the global functional food market based on the distribution channel?
- What are the key regions in the global functional food market?
- Who are the key players/companies in the global functional food market?
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 144 |
| Forecast Period | 2022 – 2028 |
| Estimated Market Value (USD) in 2022 | $277.7 Billion |
| Forecasted Market Value (USD) by 2028 | $305.6 Billion |
| Compound Annual Growth Rate | 1.6% |
| Regions Covered | Global |
Competitive Landscape:
- Abbott Laboratories
- Amway
- BASF SE
- Cargill Incorporated
- Clif Bar & Company
- Danone S.A.
- General Mills inc.
- Glanbia PLC
- Hearthside Food Solutions LLC
- Kellogg Company
- Kerry Group plc
- Nestle S.A.
- Raisio Oyj
Key Market Segmentation:
Breakup by Product Type:
- Bakery Products
- Breakfast Cereals
- Snack/Functional Bars
- Dairy Products
- Baby Food
- Others
Breakup by Ingredient:
- Probiotics
- Minerals
- Proteins and Amino Acids
- Prebiotics and Dietary Fiber
- Vitamins
- Others
Breakup by Distribution Channel:
- Supermarkets and Hypermarkets
- Specialist Retailers
- Convenience Stores
- Online Stores
- Others
Breakup by Application:
- Sports Nutrition
- Weight Management
- Clinical Nutrition
- Cardio Health
- Others
Breakup by Region:
North America
- United States
- Canada
Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
Latin America
- Brazil
- Mexico
- Others
Middle East and Africa
For more information about this report visit https://www.researchandmarkets.com/r/wc7tbo
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
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- Global Functional Food Market
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