Due to increase in the chronic and allergic diseases along with aging population, the demand for healthy diet food is increasing, which is influencing the growth prospects of the functional food market as well as the nutraceuticals market. The benefits of functional food over common food is low cholesterol levels and promotes wellness. On the other hand, nutraceuticals are that food that contains the property of both nutrients and pharmaceuticals. Owing to the fact that functional food and nutraceuticals market is on the emerging level, the market size was $150.02 billion in 2018 and it is projected to grow with a compound annual growth rate (CAGR) of 8.73% during the forecast period 2019-2025.
The finding is from a newly compiled marketscape from IndustryARC, titled “Functional Food and Nutraceuticals Market: By Type (Foods, Beverages, and Supplements); Benefits (Health and Wellness, Disease Prevention, Fitness, Beauty); Origin & Ingredient – Forecast (2019-2025).” According to the analyst, “the integration with a well-known and credible system such as educators in food sectors, authorities approving the health claims for functional food can help to accelerate the functional food and nutraceuticals market.”
Global Functional Food and Nutraceuticals Market: Leading Segments
North America contributes to the highest profit in the global market. Growing urbanization, high rate of mortality due to chronic diseases and increasing awareness regarding clean eating are ballooning the functional food and nutraceuticals market. The region held the share of 31.82% in 2018 and with growing innovations market will boom over the years.
Among all the application, food application is expanding at a higher rate. The growing interest in weight management and diseases prevention, consumption of the nutrient diet is the crucial phase which is influencing the demand for food supplements, functional food, and nutraceuticals. The food application is anticipated to grow with a CAGR of 7.82% through to end period 2025.
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Global Functional Food and Nutraceuticals Market: Growth Drivers and Trends
· Nutraceuticals are highly beneficial for infants and younger consumers to promote correct growth and energy. The increasing concern of parents towards providing their kids required nutrient is prompting the functional food market and nutraceuticals market.
· Healthy eating supports skin and beauty care. The rise in the number of female employment is yet another factor driving the growth prospects of the functional food and nutraceuticals market.
· The availability of ready to eat and drink functional food and drinks are accelerating the profit rate in the functional food and nutraceuticals market.
· The probiotics and omega-3 are used in fish oils to reduce heart-related diseases. The increasing demand for fish oils is also booming the functional food and nutraceuticals market.
· The populations are more indulge in diet plans such as paleo and keto which only demand for low oil, low carb foods. The diet plan is leveraging the demand for functional food and nutraceuticals.
· Increasing demand for organic food, fortified food along with dietary supplements are driving the market.
Global Functional Food and Nutraceuticals Market: Competitive Landscape
Some of the key players bringing various product innovations in the market are The Archer Daniels Midland Company, Unilever, Royal Friesland Campania N.V, Cargill Incorporated, BASF SE and Arla Food Amba.
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A. Nutraceuticals Ingredients Market
B. Nutritional Premixes Market
What can you expect from the report?
The Functional Food Market is Prepared with the Main Agenda to Cover the following 20 points:
1. Functional Food Market Size by Product Categories & Application
2. Functional Food Market trends & Relevant Market Data
3. Manufacturer Landscape
4. Distributor Landscape
5. Pricing Analysis
6. Top 10 End-user Analysis
7. Product Benchmarking
8. Product Developments
9. Mergers & Acquisition Analysis
10. Patent Analysis
11. Functional Food Market Demand Analysis (Revenue & Volume)
12. Country-level Analysis
13. Competitor Analysis
14. Functional Food Market Shares Analysis
15. Value Chain Analysis
16. Supply Chain Analysis
17. Functional Food Market Strategic Analysis
18. Functional Food Market Current & Future Market Landscape Analysis
19. Opportunity Analysis
20. Functional Food Market Revenue and Volume Analysis
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