Functional Foods Market Report

Functional Foods Market Analysis By Product (Carotenoids, Dietary Fibers, Fatty Acids, Minerals, Prebiotics & Probiotics, Vitamins), By Application, By End-Use (Sports Nutrition, Weight Management, Immunity, Digestive Health) And Segment Forecasts, 2014 To 2024

Published: November 2016  |  90 Pages  |  Format: PDF  |  Report ID: GVR-1-68038-195-5

Market Size and Trends

The global functional foods market size was USD 129.39 billion in 2015. Growing consciousness among consumers regarding their health and proper diet is expected to aid the overall industry over the next eight years. Foods are not only intended to satisfy one’s hunger but also to eliminate nutrition related diseases. Such a factor is anticipated to affect the global industry demand positively.

Changing dietary patterns coupled with modern lifestyles has major modifiable factors that primarily lead to type 2 diabetes, coronary heart disease, cancer, periodontal disease and obesity. In this regard, these products are believed to play an outstanding role. Moreover, increasing healthcare cost along with the desire of the geriatric group to improve their later years has driven the growth of the global industry.

The production of enhanced levels of functional compounds can be through processes such as microencapsulation, enzyme technology, and nanoencapsulation of the ingredients. In recent past, the introduction of nanoparticles using amphiphilic cyclodextrin (CD) molecules was considered owing to their ability in altering chemical, physical and biological properties through the formation of inclusion complexes.

Global functional foods market revenue, by region, 2014 - 2024 (USD Million)

Global functional foods market

CD’s are widely used in this industry to eliminate the microbial contamination, stabilize the flavors, vitamins & natural colors and to remove undesired compounds. Microencapsulation technology has been developed to protect these bioactive in processing and storage and delivery of these items to specific tract for further formulations.

These ingredients play a vital role in gut fermentation by influencing the fermentation metabolites and microflora composition, thus contributing systemic effects in the body. Manufacturers incorporated these bioactive ingredients in food supplements, which increased their shelf life and sensory properties. Improvements in science & technology coupled with favorable regulatory claims are presumed to affect the industry growth over the forecast period significantly.

However, functional foods are not easily available in supermarkets and grocery stores and often tend to be expensive in nature. Many people are not even aware how to use these products in their daily dietary intake. Consumption of wine and chocolate in massive amounts that contain a lot of antioxidants might aggravate other health problems for people in generally. As a result, dieticians often suggest people not to use these products to a significant proportion.

Nevertheless, these products contain a lot of vitamins and minerals that eliminate diseases from the body and kill harmful bacteria from the body. People consider these products as better owing to their nutrients content as compared to regular diet. A wide variety of techniques still needs to be established by producers to cater needs and expectations for developing functional foods. Presently, these supplements available in the market represent only a fraction of potential opportunities for consumers to manage their health through diet.

Product Insights

Key products include carotenoids, dietary fibers, fatty acids, minerals, prebiotics & probiotics, vitamins, minerals and others. Others segment commonly include phytochemicals, enzymes, and antioxidants.

Global functional foods market revenue by product, 2015 & 2024 (USD Billion)

Global functional foods market

Dietary fibers product segment is expected to grow at a CAGR of 8.4% over the next eight years. Fiber intake has exhibited chemo protective effects for cancer proliferation applications. They also help in combating cardiovascular diseases, obesity and diabetes. These factors are expected to cater the overall demand over the forecast period.

Application Insights

Applications commonly include bakery & cereals, dairy products, meat, fish & eggs, soy products, fats & oils and other applications. Others segment include beverages, nutritional bars, and various snack types.

Global functional foods market revenue share by application, 2015

Global functional foods market

Fermented dairy products such as yogurts that contain probiotics in it are considered to benefit the immune system, strengthen the mucosal barrier and suppress intestinal infection of human health. Margarine, which consists of fatty acid esters, is designed to lower the cholesterol level for people. On the other hand, eggs containing omega-three which are produced by chickens are fed as a microalgal feed ingredient. Such factors are expected to drive the total industry growth in future years.

End-Use Insights

End-use primarily include sports, nutrition, weight management, immunity, digestive health, clinical nutrition, cardiovascular health related problems and other end-use segment. Others segment consists of lowered cholesterol levels, visual impairment arthritis, and certain cancer applications.

Digestive health end use segment is expected to witness the highest CAGR of 8.6% over the next years. Functional foods contain nutrients such as arginine, amino acids glutamine and micronutrients vitamin A and zinc which are proposed to promote gastrointestinal infections caused among people.

Regional Insights

Asia Pacific market led the global industry and accounted for over 40% of total revenue in 2015. It is also expected to grow at an estimated CAGR of 8.3% over the next eight years.

Rising demand along with increasing disposable income among consumers for such products in emerging countries such as India and China is expected to assist the regional growth. Moreover, increasing urbanization, growing baby boomer population and changing dietary patterns is supposed to drive the overall market demand.

Competitive Market Share Insights

The global industry is fragmented in nature with the presence of a large number of both regional and international industry participants. Companies include GFR Pharma, KFSU, Nutri-Nation, Amway, Cargill, Coca-Cola Co., BASF SE, General Mills Inc, and Herbalife.

Report Scope

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Base year

2015

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Historic

2014 - 2015

Extended historic data (2012 to 2015)

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Forecast

2016 - 2024

Extended Forecast data (2025 – 2027)

Free

Report details

Market size, company market share, competitive Landscape, growth factors, trends

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Market representation

USD Billion

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Global & Regional (by country)

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All major market players

Profiles of 10 additional companies

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Market segments covered in the report

This report forecasts volume & revenue growth and provides an analysis on the industry trends in each of the sub-markets from 2014 to 2024. For the purpose of this study, Grand View Research has segmented the functional foods market on the basis of product, applications, end use and region:

  • Global Functional Foods Product Outlook (Revenue, USD Billion, 2014 - 2024)

    • Carotenoids

    • Dietary fibers

    • Fatty acids

    • Minerals

    • Prebiotics & probiotic

    • Vitamins

    • Others

  • Global Functional Foods Application Outlook (Revenue, USD Billion, 2014 - 2024)

    • Bakery & Cereals

    • Dairy products

    • Meat, fish & eggs

    • Soy products

    • Fats & oils

    • Others

  • Global Functional Foods End-Use Outlook (Revenue, USD Billion, 2014 - 2024)

    • Sports nutrition

    • Weight management

    • Immunity

    • Digestive health

    • Clinical nutrition

    • Cardio health

    • Others

  • Global Functional Foods Regional Outlook (Revenue, USD Billion, 2014 - 2024)

    • North America

      • U.S

      • Canada

      • Mexico

    • Europe

      • EU28

      • Russia

    • Asia Pacific

      • China

      • Japan

      • India

      • Philippines

      • Indonesia

      • Malaysia

      • Australia

    • Middle East and Africa

      • South Africa

    • Central & South America

      • Brazil

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