The global functional foods and natural health products market size is expected to reach US$ 32.5 Bn by the end of 2029. According to a study by Future Market Insights (FMI), the market will show a steady rise at 5.3% CAGR between 2019 and 2029. According to the report, the rising demand for natural, healthier, and nutritional food will stoke growth in the market. The report offers a comprehensive overview of the market, covering key growth drivers, restraints, opportunities, and prevailing trends. It uses unique research methods to offer the most accurate analysis of the market.
It includes in-depth insights into the Functional Foods and Natural Health Products Market. Some of these are:
- The estimated value of the market was at US$ 19.4 Bn in 2019. Through the course of the report’s forecast period, the market is exhibited to show a steady pace of growth.
- Regionally, Europe emerged as a key market for Functional Foods and Natural Health Products.
- North America and APEJ will remain steady as key markets for Functional Foods and Natural Health Products.
- Pulses based functional food also expected to show growth at the highest rate over the forecast period.
- Key players are likely to focus on product innovations to stay relevant in developed markets.
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“One-Third of the Functional Foods and Natural Health Products manufacturers are engrossed in producing innovative products that meet the regulations for food-grade material usage. They can also benefit by focusing on enhancing the technology,” says an FMI analyst.
Associated Health Benefits of Functional Foods and Natural Health Products to Accelerate Market Growth
The digestive system is responsible for catalysing the food products consumed and for the absorption of vitamins and minerals from food and nutritional supplements. Therefore, maintaining digestive health is a significant factor in optimizing nutrient intake and preventing deficiency-related bodily conditions.
Furthermore, the immune cells are also concentrated in the gut region, and a healthy microbiota is necessary for the body. Medical practitioners and individuals realized the associated health benefits, and thus, are recommending a targeted set of the bacterial strain, resulting in the bolstered demand for probiotic supplements, and therefore, the functional foods and natural health products market in the forecast period.
- The WHO predicts that by 2020, over 65 million people will have dementia and the prevalence of other neurodegenerative brain diseases, like Alzheimer’s, also on the rise. The pressure to produce successful treatments is growing but has proved unsuccessful so far. Scientists are increasingly looking for food products to slow down disease progression and treat symptoms.
Trend of Protein-rich Functional Snackification to Bolster Demand of Functional Foods and Natural Health Products
Japanese manufacturers are trying to make products more nutritious, following the protein trend in food. Consumer awareness concerning healthier ways to pull off weight loss, anti-aging, and other health-related issues through the intake of naturally-sourced protein is captivating many producers to offer protein-fortified products with health benefits. This trend has been an extensive driver for the growth of functional foods and natural health products across the globe.
Moreover, innovations in cheese snacks such as multi whole-grain flour as the base for producing chips and extruded snacks are expanding the consumer base, even from the health-conscious community. Other trends propelling functional foods and natural health products market include the increased demand for organic and naturally-sourced ingredients.
Who is Winning?
Some of the leading players operating in the functional foods and natural health products Market are General Mills, GFR Pharma, Herbalife, Cargill Inc., Amway, and others.
As a result of increasing competition, functional foods and natural health products manufacturers are focusing on expanding their product portfolio and improving sourcing process. Their expansion strategies are further aided by agreements between them and local players across emerging market. These companies are particularly focusing on catering to changing consumer preference across various applications.
In addition to this, mergers and acquisition remains a popular strategy among market players. Companies intend to expand their regional footprint through strategic collaborations.
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Get Valuable Insights into Functional Foods and Natural Health Products Market
Future Market Insights, in its new report, presents an unbiased analysis of the global functional foods and natural health products market, covering historical demand data and forecast figures for the period between 2019 and 2029. The study divulges compelling insights into growth witnessed in the market. In terms of functional food products, bakery and confectionery segment is expected to maintain its dominance over the forecast period. I terms of growth, pulses-based functional food product segment is expected to show lucrative growth in the forecast period.
About FMI
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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