Functional Food Products Market - Growth, Proposition, Trends & Forecasts (2018-2025)
29 Nov 2018 - Global is expected to grow at a significant CAGR in the upcoming years as the scope and its applications are increasing across the globe. Functional foods are foods that contain biologically active components that present the potential of improved health and help to decrease the risk of disease. The factors that propel the growth of the Functional Food Product Market include increasing demand, geriatric population, rapid urbanization & industrialization, advanced technologies, and product development & innovation. Some of the other factors such as changing standard of living, changing dietary patterns, and rise in disposable income also fuel the market growth.
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On the other hand, there are also factors that may hamper the growth of the market such as high cost of products. Functional Food Product Market is classified on the basis of product type, applications, end users, distribution channel and geography.
Market segment by Type, the product can be split into
• Fatty Acids
• Dietary Fibers
Market segment by Application, Functional Food Product can be split into
• Dairy Products
• Cereals and Bakery
• Soy Products
The others segment includes nutritional bars, beverages and variety of snacks. Functional Food Product Market is classified on end users as clinical nutrition, digestive health, sports, immunity, weight management and cardiovascular health. Functional Food Product Market is segmented by distribution channel as online stores, specialty stores and others.
Functional Food Product Market is classified on the basis of geography as North America, Latin America, Western Europe, Eastern Europe, Asia Pacific, Japan and Middle East and Africa. The North American region consists of the U.S., and Canada. Latin America region consists of Mexico and Brazil. The Western European region consists of Germany, Italy, France, England and Spain. The Eastern European region consists of Poland and Russia. Asia Pacific region consists of China, India, ASEAN, Australia & New Zealand. The Middle East and African region consists of GCC, South Africa and North Africa.
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By geography, North American region is projected to account a major share of the Functional Food Product Market. On the other hand, Asia Pacific is expected to show fast growth rates in the Functional Food Product Market. The key factors that attribute to the growth of this region is due to rapid urbanization, increasing demand, rise in disposable income and awareness among people.
Some of the key players that fuel the growth of the Functional Food Product Market include Amway, Arla, Abbott Laboratories, AbbVie Inc., BASF, Danone, Dean Foods, General Mills, GFR Pharma, Kellogg, Red Bull GmbH, PepsiCo Inc., Nestle, Suntory, Unilever, and others. The key players are focusing on inorganic growth to sustain themselves amidst fierce competition. As such, mergers, acquisitions, and joint ventures are the need of the hour.