Functional Food Market by Ingredient, By Product, By Application and By Region

GMI Research anticipates that the size of the Functional Food Market will register a growth rate of 6.7 % for the next six years. This is primarily because of their assistance to reduce the chances of fatal disease by enhancing the overall health of body by offering all required nutrients and adequate amount of proteins.

Introduction of the Functional Food Market

Functional food or nutraceuticals are extremely beneficial and sustaining food products with a high amount of efficacious health benefits. These food items are embellished with several supplementary nutrients and other items that enhance good health. They help to impede nutritional insufficiency, prevent against several diseases, promotes adequate growth and improvement while enhancing the overall health.

Key Players of the Market:

• SAS Institute
• Pitney Bowes, Inc.
• Galigeo
• GeoMoby
• Alteryx, Inc.
• Esri
• Microsoft Corporation
• Cisco Systems, Inc.
• IBM Corporation
• Oracle Corporation

Functional Food Market Dynamics

The increasing incidences of infectious diseases at a premature age and the surging consciousness towards health among individuals are the dominant forces supplementing the growth of the global functional food market. Also, the growing drift towards nutritious diet patterns will further strengthen the market share. The growing awareness towards gut health guided by the deadly accidents with the gastroenteric inflammation will elevate the market growth. Besides this, the accelerating rate of the ageing population and noxious lifestyle of the young generation will significantly propel the market growth.

Moreover, the aggravating purchasing power of the consumers accompanied by the rising disbursement of healthcare has bolstered the market growth. Additionally, the evolution of the coronavirus crisis has persuaded consumers to seek for several fortified food items with additional nutritional value to enhance their immune system. Moreover, the consumers are inclined towards a nutriment lifestyle in the stressful time to reduce the spread of the virus, primarily in 2020. Thus, all these factors together will promote the market growth. However, on the other hand, various food security norms and the inadequate health benefits offered by the functional food over the desired amount of advantages by the sellers will restrain the market size.

Ingredient Segment Analysis

Based on the ingredient, the vitamin segment is expected to lead the market with the largest growth rate during the forecast period. The rising recognition towards the beneficial advantages concerned with consumption of vitamins, which includes decreasing the cholesterol levels, maintain blood sugar, and enhance overall health will significantly propel the market growth. Thus, all these features proffered by vitamins will elevate the market growth. Simultaneously, the prebiotic and probiotics are anticipated to seize a notable share in the functional food market over the coming years. Prebiotics are short carbohydrate chain that enhances the activities of several groups of advantages bacteria. They offer several health benefits such as less chances cancer and better absorption potency of magnesium and calcium. All these features will significantly fuel the market growth.

Regional Drivers

Based on the regional analysis, the Asia-pacific region will significantly propel over the forecast period. This is because of the mounting population and the rising disposable income which has fueled the consumption of ready made food products in Asian countries. Additionally, the growing agitation towards safety among the consumers, altering consumer behavior, and the increasing apprehension towards malnourishment and poverty will raise the market size.

Functional Food Market Segmentation:

Segmentation by Ingredient

·         Carotenoids

·         Dietary Fibers

·         Fatty Acids

·         Minerals

·         Prebiotics & Probiotics

·         Vitamins

·         Others

Segmentation by Product

·         Bakery & Cereals

·         Dairy Products

·         Meat, Fish & Eggs

·         Soy Products

·         Fats & Oils

·         Others

Segmentation by Application

·         Sports Nutrition

·         Weight Management

·         Immunity

·         Digestive Health

·         Clinical Nutrition

·         Cardio Health

·         Others

Segmentation by Region:

·         Asia Pacific

o   China

o   Japan

o   India

o   Rest of APAC

·         North America

o   United States of America

o   Canada

·         Europe

o   United Kingdom

o   Germany

o   France

o   Spain

o   Rest of Europe

·         RoW

o   Brazil

o   South Africa

o   Saudi Arabia

o   UAE

About GMI Research

GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.