About Functional Food and Beverage
Functional food and beverages are used for preventing diseases and improving health. Functional food and beverages are rich with probiotics, prebiotics, proteins & amino Acids, phytochemical & plant extracts, omega-3 fatty Acids, carotenoids, Fibers & Specialty Carbohydrates which is essential for the healthy life.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
High Growth Market | Asia Pacific |
Unit | Value (USD Million) |
CAGR | 7.15% |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Functional Food and Beverage market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Cargill Inc. (United States), Archer Daniels Midland Company (United States), General Mills Inc. (United States), PepsiCo Inc. (United States), Kellogg Company (United States), Nestle S.A. (Switzerland), Abbott Nutrition (United States), Amway Corporation (United States), Arla Foods amba (Denmark) and BASF SE (Germany) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Celsius Holdings, Inc. (United States), Coca-Cola Co. (United States), PepsiCo Inc. (United States), Red Bull GmbH (Austria), Unilever plc (United Kingdom) and Yakult Honsha Co., Ltd. (Japan).
Segmentation Overview
AMA Research has segmented the market of Global Functional Food and Beverage market by Type (Dairy Products, Bread, Grain, Sports Drinks and Energy Drinks) and Region.
On the basis of geography, the market of Functional Food and Beverage has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2023. Europe, on the other hand, stood as the second largest market due to the presence of key companies in the region and high technological advancement. If we see Market by End User, the sub-segment i.e. Adult will boost the Functional Food and Beverage market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Rising Number of Chronical Diseases will help to Consumer Preference towards Healthy Food and Escalating Popularity of Probiotic Yogurt Drinks
Market Growth Drivers:
Increasing Consumer Awareness Regarding Health and Nutrition Benefits and Rising Understanding about Proper Diet.
Challenges:
Food Safety Concern and Government Regulations
Restraints:
High Price of Functional Food and Beverages, Lack of Awareness about Benefits and Not Easily Available in Supermarket and Grocery Stores
Opportunities:
Increasing Demand of Functional Food in Emerging Nations and Need to Increase Promotional Activities
Market Leaders and their expansionary development strategies
In July 2021, Kerry Group, an Irish-based food company, announced that it is acquired Biosearch Life. Through this acquisition, Kerry Group can expand its healthy ingredient portfolios, such as probiotics and omega-3.
In November 2022, sustainability leader Geno launched of its new functional ingredient, Avela™ natural (R)-1,3-Butanediol. The novel, sugar-free ingredient, debuting at SupplySide West 2022 in Las Vegas, offers a fast, easy and accessible way to raise beta-hydroxybutyrate (BHB) ketone levels, the primary energy source made in the body during ketosis.
On May 27, 2016, entitled “Food Labeling: Revision of the Nutrition and Supplement Facts Labels” (81 FR 33742; the “Nutrition Facts label final rule”) and “Food Labeling: Serving Sizes of Foods That Can Reasonably Be Consumed At One Eating Occasion; Dual-Column Labeling; Updating, Modifying, and Establishing Certain Reference Amounts Customarily Consumed; Serving Size for Breath Mints; and Technical Amendments” (81 FR 34000; the “serving size final rule”) (codified at title 21 of the Code of Federal Regulat
Key Target Audience
Functional food and beverages Manufactures, Functional food and beverages Distributes, Suppliers, Health research Organization, Government and Other Research Organizations and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.