About Health Functional Food
Health functional foods refer to food supplements containing nutrients, which have a nutritional or physiological effect whose purpose is to supplement the normal diet. They also promote optimal health and help reduce the risk of disease. Health functional foods come in tablets, capsules, powders, and others. They are being widely used for sports nutrition, weight management food, dietary supplements, among others application.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Competition among existing players is due to the Health Functional Food market share occupied by leading players. The industry leader is engaged in offering innovative and superior quality products to cater to the ever-growing demand for Health Functional Food Market. The companies are implementing strategic activities such as acquisitions and mergers along with collaboration with companies in other industries to aid them in improving sustenance and maintaining their competitive advantage. Analyst at AMA Research estimates that United States and Switzerland Players will contribute the maximum growth to Global Health Functional Food market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Nestle S.A. (Switzerland), Cargill Corp. (United States), Archer Daniels Midland (United States), Danone (France), Unilever (United Kingdom), Coca Cola (United States), Bunge Limited (United States), Barry Callebaut AG (Switzerland), Amway (United States) and Herbalife Nutrition (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Oriflame Holdings (Switzerland), USANA Health Sciences (United States) and Others.
Segmentation Overview
AMA Research has segmented the market of Global Health Functional Food market by Type (Tablets, Capsules, Powders and Others), Application (Sports Nutrition, Weight Management Food, Dietary Supplements and Other) and Region.
On the basis of geography, the market of Health Functional Food 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). If we see Market by Ingredients, the sub-segment i.e. Dietary Fibers will boost the Health Functional Food market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Sales Channel, the sub-segment i.e. Online will boost the Health Functional Food market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Quick and Easy Ways to Ensure a Healthier Lifestyle Are In High Demand and The Clean Label and Natural Food Movements Have Mainstreamed
Market Growth Drivers:
The Rising Health Conscious People Across the Globe, Increasing Disposable Income among the People and The Growing Marketing & Promotional Activities of the Health Functional Foods
Challenges:
To Prove Health Benefits Claims
Restraints:
Stringent Government Regulations
Opportunities:
The Growing Health Care Expenditure among the Developing Regions
Market Leaders and their expansionary development strategies
In April 2019, British-Dutch consumer goods company Unilever has recently acquired OLLY Nutrition, strengthening both its Beauty & Personal Care and its Foods & Refreshment businesses. The move indicates that the transnational company is banking on the health and wellness trend and the popularity of supplements and functional foods among an increasingly health-seeking society.
In November 2018, Bunge North America, the North American operating arm of Bunge Limited, announced that it is adding lentil functional flour to its line of clean-label ingredients. This product is a protein-rich, functionally equivalent substitute for modified starches that can be listed as simply “lentil flour” in an ingredient statement.
In the United States, the 1990 Nutrition Labeling and Education Act authorized the Food and Drug Administration to develop regulations for the use of claims on health benefits on foods and dietary supplements, which are often communicated to the consumers through the label on the product, website, or advertising. Functional foods can be regulated as a portion of conventional food, a dietary supplement, a food for special dietary use, a medical food, or a drug and often these distinctions are based depending on the intended use and nature of the claims.
Key Target Audience
Health Functional Food Manufacturers, Health Functional Food Raw Material Suppliers, Health Functional Food Traders/Distributors, Health Functional Food Importer/Exporter, Regulatory & Government Bodies, End Users 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.