Improvements in Safety, Efficacy and Nutritive Value Drive Renewed Consumer Interest in Functional Foods and Drinks
Published: March 2018
- Code: MCP-1080
- Pages: 703
- Tables: 130
- Companies: 306
FUNCTIONAL FOODS AND DRINKS: A RESEARCH BRIEF
The global market for Functional Foods and Drinks is projected to exceed US$195 billion by 2024, driven by rising focus on healthy diets with additional functional nutrients that provide disease-preventing, longevity-increasing, and health-promoting benefits. Benefits of functional foods that make them vitally important in modern diets include therapeutic benefits such as cholesterol reduction, weight management, etc.; disease preventive benefits such as reducing the risk of heart disease, cancer, osteoporosis, diabetes, renal diseases etc.; and effective safeguard against dietary deficiency diseases. Other major factors driving growth in the market include growing R&D investments in food and nutrition sciences; tighter food regulations and improvements in safety profiles; rapidly aging, health-conscious population; development of new bioactive substances and modified food ingredients designed to provide health benefit beyond basic nutrition; rising wave of consumer self-care and adoption of preventive health maintenance strategies; and favorable regulatory environment, among others. The organic food revolution wave sweeping through the food industry is driving demand for natural and organically produced bioactive ingredients in functional foods and beverages. Plant and animal sources for nutrient extraction will therefore receive increased interest in the coming years. Functional waters including plant based waters such as coconut water, maple water, birch water, cactus water, artichoke water, etc., is an emerging market category with strong commercialization potential. The United States represents the largest market worldwide. Asia-Pacific ranks as the fastest growing market with a CAGR of about 11.1% over the analysis period, driven by growing population and nutrition needs; industrialization of agriculture and food processing sector; spiraling food consumerism; growing awareness over the link between healthy food consumption and health outcomes and diet-disease relationship; and increased per capita spending on organic healthy for you foods.
COMPANY AND INDUSTRY NEWS & STORIES
- Danone Strengthens the Collaboration with Yakult to Promote and Develop Probiotics Activities
- In a Move to Strengthen its Nutrition Bar and Energy Bar Business, Hearthside Acquires Standard Functional Foods Group Inc
- Otsuka Pharmaceutical Set up Otsuka Nutraceutical (Thailand) Ltd. in a Bid to Develop the Functional Food & Beverage Business in Thailand
- Nestlé to Acquire Atrium Innovations in a Transaction Valued at US$2.3 Billion in Cash
- With the Aim to Expand its Formidable Presence in the U.S. Beverage Market, The Coca-Cola Company Plans to Acquire Monster Beverage Corp.
OUTLOOK IN KEY MARKET SEGMENTS
- Through 2024, Beverages will remain the largest market, followed by Dairy Products.
- Beverages ranks as the largest market, supported by increasing demand for energy drinks and ready-to-drink beverages.
PRODUCT DEFINITION & SCOPE
- Functional foods include all types of foods - from fruits and vegetables to fortified and enhanced foods, which provide health and nutritional benefits. The biologically active ingredients present in these foods offer health and positive physiological effects. Functional foods are capable of improving defensive mechanisms against several infectious diseases and reducing physical/mental stress from the human body. These foods also address everyday needs for energy, alertness, stress relief, immune health, gut health, dental health, mental health, and alike. Functional foods are also efficient in reducing the risks due to heart diseases, cancers, asthma, Parkinson’s disease, and many more.
TIMELINE FOR ANALYSIS
- Market Estimates and Forecasts for 2016-2024
- Historic Review 2011-2015
GEOGRAPHIC MARKETS ANALYZED
- US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India, and Rest of Asia-Pacific), Latin America (Brazil and Rest of Latin America), and Rest of World
MARKET SEGMENTATION & CLASSIFICATION
- Product Segments:
- Cereals and Grains, Dairy Products, Beverages, Snacks, and Other Functional Foods
- Abbott Nutrition
- ABF Ingredients, Ltd.
- Amway Corporation
- Archer Daniels Midland Company
- Arla Foods amba
- BASF SE
KEY RESEARCH DELIVERABLES
- Review of Industry/Market Structure
- Analysis of Trends & Drivers
- Insights on Macro Market Scenarios
- Market SWOT Analysis
- Latent Demand Forecasts & Projections
- Comprehensive Geographic Market Analysis
- Presentation Ready Facts & Statistical Data Findings
- Coverage of Major/Niche Players, Market Shares & Competition
- Coverage of major Company/Technology/Product/Financial Stories
- Extensive Product/Service/End-Use/Technology Coverage Where Applicable