IMARC Group’s latest research report, titled “Functional Food Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” offers a comprehensive analysis of the industry, which comprises insights on the global functional food market outlook. The report also includes competitor and regional analysis, and contemporary advancements in the market.
The global functional food market size reached US$ 207.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 305.6 Billion by 2028, exhibiting a growth rate (CAGR) of 6.5% during 2023-2028.
Functional Food Market Overview:
Functional food refers to food products that are specifically designed to provide additional health benefits beyond basic nutrition. These foods contain bioactive components, such as vitamins, minerals, fatty acids, and fiber that target specific bodily functions such as digestive health, immunity, and heart health. It is engineered to offer targeted health benefits. It comes in various forms, including fortified cereals, probiotic yogurt, omega-3 enriched eggs, and high-fiber snacks. It caters to consumers looking for food options that align with health and wellness objectives. Given the evolving lifestyles and increasing health awareness, functional foods are gaining a significant role in diet plans and nutrition strategies. While all foods provide energy and nutrients, functional foods are set apart by the scientific evidence supporting their health benefits, making them a key segment in the health and wellness industry.
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Competitive Landscape with Key Players:
Functional Food Market Growth and Development:
The global functional food market is majorly driven by evolving consumer behavior and advancements in food technology. Along with this, the increasing awareness of health and wellness among consumers, especially in the wake of lifestyle diseases such as obesity and diabetes, is significantly supporting the market. This awareness is leading to a rise in demand for foods that offer specific health benefits, thereby steering investments into research and development of functional foods.
In addition, the aging global population is increasingly seeking foods that can cater to age-related health concerns, further amplifying market growth. Moreover, technological advancements are enabling the fortification of regular foods with bioactive ingredients, making it easier for consumers to incorporate functional foods into their regular diets. Apart from this, the convenience provided by online retail platforms allows easy access to a diverse range of functional food products, contributing to market expansion.
Explore the Full Report with Charts, Table of Contents, and List of Figures: https://www.imarcgroup.com/functional-food-market
Key Market Segmentation:
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About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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