About Functional Food Product
Functional food products can be deliberated to be those wholes, fortified, enriched or enhanced food products that offer health benefits beyond the provision of essential nutrients, for example, vitamins and minerals when they are consumed at effectual levels as part of a varied diet on a regular basis. Linking the consumption of functional food products or food ingredients along with health claims should be based on sound scientific evidence, with the “gold standard” being simulated, randomized, placebo-controlled, interference trials in human subjects. Though, not all foods on the market today that are claimed to be functional food products are supported by enough solid data to merit such claims.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
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 Product 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.
Unilever (United Kingdom), Red Bull GmbH (Austria), PepsiCo Inc (United States), Arla Foods (Denmark), Dean Foods (United States), The Kellogg Company (United States), Nestle S.A. (Switzerland), Suntory Beverage & Food Limited (Japan), Danone S.A. (France) and Abbott Laboratories (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are AbbVie Inc (United States), General Mills (United States) and Amway (United States).
Segmentation Overview
AMA Research has segmented the market of Global Functional Food Product market by Type (Bakery & Cereals, Dairy Products, Meat, Fish & Eggs, Soy Products, Fats & Oils and Others), Application (Sports Nutrition, Weight Management, Immunity, Digestive Health, Clinical Nutrition, Cardio Health and Others) and Region.
On the basis of geography, the market of Functional Food Product 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 Ingredient, the sub-segment i.e. Carotenoids will boost the Functional Food Product market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Distribution Channel, the sub-segment i.e. Hypermarkets/Supermarkets will boost the Functional Food Product market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Rising Awareness towards Health Benefits of Functional Food Products
Market Growth Drivers:
Growing Demand for Nutritional & Fortifying Food Additives and Rising Concern for Gut Health
Challenges:
Problems Related to Availability
Restraints:
Insufficient Nutrients Derived from Functional Food Products
Opportunities:
Increasing Geriatric Population Worldwide
Market Leaders and their expansionary development strategies
In November 2020, Englewood Cliffs, N.J. - Unilever has acquired SmartyPants Vitamins, a U.S.‐based Vitamin, Mineral & Supplement company.
In December 2020, Nestlé has launched a milk product for adults, consisting of a unique combination of ingredients supporting the three pillars of mobility: bone health, muscle strength and joint functionality. The powdered beverage under the YIYANG Active brand has been clinically proven to enhance mobility during aging and it is the first Nestlé product with functional food approval in China.
Food labeling is required for most prepared foods, such as breads, cereals, canned and frozen foods, snacks, desserts, drinks, etc. Nutrition labeling for raw produce (fruits and vegetables) and fish is voluntary.
Key Target Audience
Functional Food Product Providers, Suppliers of Raw Materials, Wholesalers, Distributors, and Retailers of Functional Food Product, Food Industry, Governmental Bodies and Research Organization
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.