Published Date: 14-Jun-2021
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According to a new report Global Functional Food Market, published by KBV research, The Global Functional Food Market size is expected to reach $259.7 billion by 2027, rising at a market growth of 8.5% CAGR during the forecast period.
Dairy Products segment garnered the maximum revenue share of the global functional foods market in 2020, followed by the bakery and cereals segment. Dairy Products like milk drinks, yogurts, and spreads are significant delivery systems for functional food. They are rich source of compounds and can also be utilized as functional food ingredients in food preparation. Bakery & Cereals segment would exhibit major growth rate during the forecast period.
The prebiotics and probiotics segment would be the fastest growing segment during the forecast period. Prebiotics are considered as short-chain carbohydrates that are non-digestible by digestive enzymes in humans and considerably improve the activity of few classes of beneficial bacteria. In the intestine, prebiotics are gone through fermentation by useful bacteria in order to generate short-chain fatty acids.
Asia Pacific has become one of the major markets for these items due to the booming population along with the increasing disposable income. Ever-increasing consumption of processed food combined with the increasing awareness about the health and fitness in emerging countries are some of the prime factors for the growth of the regional market. The region is characterized by increasing food safety concerns among consumers, impacting consumer behavior, consequently boosting the growth. Food fortification would be the major focus of the government to cater to the growing concerns of malnutrition and poverty. This aspect would contribute majorly to the growth of the market.
Full Report: https://www.kbvresearch.com/functional-food-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Danone S.A., Glanbia PLC, Mars, Inc., Meiji Holdings Co., Ltd., Nestle S.A., Royal Frieslandcampina N.V., The Kraft Heinz Company, Hearthside Food Solutions LLC, Raisio PLC, and Sanitarium Health and Wellbeing Company.
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