Functional Foods and Drinks Market size was valued at US$ 305.05 Bn in 2022 and the total revenue is expected to grow at 6.98% through 2023 to 2029, reaching nearly US$ 489.21 Bn.Functional Foods and Drinks Market Overview:
The global functional food and drink market size was valued at USD 305.05 billion in 2022. The global effect of COVID-19 has been uncommon and faltering, with functional food and drinks seeing a positive demand across all globe amid the pandemic. The market is expected to grow from USD 285.15 billion in 2021 to USD 489.21 billion in 2029 at a CAGR of 6.98% in the forecast period 2023-2029.To know about the Research Methodology :- Request Free Sample Report For the basic nutrition of the body, human need functional food and drinks. Functional food is that food that has a potentially positive result on health beyond basic nutrition. It also provides essential nutrition, which can help to protect against diseases. Functional foods could embrace whole foods, like fruits and vegetables that represent the best example. Those foods are fortified, enriched, or increased with nutrients, phytochemicals, or botanicals. Functional drinks are generally consumed by people who are trying to obtain health benefits from functional food and drinks. For example, some people claim to boost their heart health, immunity, digestion, and joint health. There are some top healthiest drinks which human can take to gain health benefits from functional beverages are green tea, peppermint tea, milk, coconut water, beat juice, apple cider vinegar, coffee, and kefir.
Functional Foods and Drinks Market Dynamics:
Busy lifestyles and the increasing awareness of their health benefits among consumers drives the growth of the market. Moreover, the growing demand for nutritious food is expected to drive the growth of the market. The demand for portable snacks that contain additional nutrients and provide immediate nutrition is increasing day by day. The demand for functional foods and drinks has increased due to consumer interest in diet and health. Consumers tend to use food containing functional ingredients to minimize or lower the risk of certain health conditions like obesity, weight management, polygenic disease, and cardiovascular disease. Increasing stress and agitated lifestyles have contributed to the rising prevalence of such health disorders. The increasing demand for hemp-dipped foods and drinks, probiotics, and prebiotics are the numerous functional food trends that are becoming popular and boosting the growth of this market. Many food safety laws and the restricted health benefits of functional foods compared to the number of benefits claimed by the vendors are some of the factors hampers the growth of the functional foods and drink market. Under the food safety act 1990, a food business must not sell food that is not what the customer is entitled to expect in terms of content; also, a food business must not cause food to be dangerous to health. In addition, economic issues hindered the growth of this market. The high prices of many products restrict their adoption. Problems associated with product convenience, plus claims of a scarcity of nutrients derived from a spread of functional foods, hamper the growth of the functional foods business.Functional Foods and Drinks Market Segment Analysis:
Based on the Product, the functional food and drinks market is segmented into dairy products, bakery products, cereals and grains, fats and oils, and other/fortified foods. In 2022, dairy products segment held the highest market share xx% of the functional food and drinks market. The main drivers of the increase in demand in the dairy products segment, such as yogurt, and dairy drinks, are rich in compounds, and these dairy products are often added as an ingredient in food preparation. The global market for the dairy products segment was valued at 479.08 Bn. in 2022 and is projected to reach USD 583.71 Bn. by 2029 with a CAGR of 2.5% during the forecast period. Based on the Distribution channel, the functional food and drinks market segment is distributed into supermarkets/hypermarkets, convenience stores, online retail, and others. The supermarkets/hypermarkets segment held the highest market share 55% of the functional foods and drinks market in 2022. The supermarkets/hypermarkets offer distinct retail shelves to superior natural products and grow a bundling strategy for such products. Some factors, which drive the supermarket segment are price discounts, shopping experience, immediate purchase of grocery products, and availability of a wide range of products in a single shop.Functional Foods and Drinks Market Regional Insights:
Asia Pacific dominates the functional food and drink market and is expected to grow at a CAGR of 7.9% during the forecast period 2023-2029. The Asia Pacific dominates the largest market share due to the increase in population growth, rise in income, food preferences, and change in their lifestyles. Asia Pacific market was valued at USD xx Bn. in 2022 and is projected to reach to USD xx Bn by 2029. The objective of the report is to present a comprehensive analysis of the global Functional Foods and Drinks market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding the global Functional Foods and Drinks market dynamic, structure by analyzing the market segments and project the global market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global market make the report investor’s guide.Functional Foods and Drinks Market Scope: Inquire before buying
Functional Foods and Drinks Market Report Coverage Details Base Year: 2022 Forecast Period: 2023-2029 Historical Data: 2018 to 2022 Market Size in 2022: US $ 305.05 Bn. Forecast Period 2023 to 2029 CAGR: 6.98% Market Size in 2029: US $ 489.21 Bn. Segments Covered: by Product Functional Cereals and Grains Functional Dairy Products Functional Bakery Products Functional Fats and Oils Other Functional/Fortified Foods by Distribution Channel Supermarkets/Hypermarkets Convenience Stores Online Retails Others Functional Foods and Drinks Market, by Region
North America (United States, Canada and Mexico) Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe) Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC) Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A) South America (Brazil, Argentina Rest of South America)Functional Foods and Drinks Market Key Players:
1. The Coca-Cola Company 2. Celsius Holdings, Inc. 3. PepsiCo, Inc. 4. Glanbia Plc 5. Nestle S.A. 6. Arla Foods amba 7. Hearthside Food Solutions LLC 8. Tyson Foods, Inc. 9. General Mills, Inc. 10. Danone S.A. 11. Kirin Holdings 12. Dean Foods 13. Mars Inc. 14. BNL Food Group 15. Kraft Foods Inc.Frequently Asked Questions:
1] Which region holds largest share of the functional foods and drink market? Ans. Asia Pacific is expected to hold the highest share in the global functional food and drink market. 2] What is the leading market trend? Ans. Rising consumer spending on healthy diet products is an emerging trend in the global market. 3] Who are the top players in the global marketplace? Ans. Nestle S.A., Danone S.A., General Mills Inc., Glanbia Plc, and The Coca-Cola Company are some of the top players in the market. 4] Which distribution channel is expected to hold the dominant market share? Ans. Online retails market is expected to hold the dominant global market share. 5] What is the CAGR of Global Functional Foods and Drinks Market in the forecast period 2023-2029? Ans. The CAGR of Global Functional Foods and Drinks Market is 6.98% during forecast period of 2023-2029.
1.Preface 1.1. Market Definition and Key Research Objectives 1.2. Research Highlights 2. Assumptions and Research Methodology 2.1. Report Assumptions 2.2. Abbreviations 2.3. Research Methodology 2.3.1. Secondary Research 2.3.1.1. Secondary data 2.3.1.2. Secondary Sources 2.3.2. Primary Research 2.3.2.1. Data from Primary Sources 2.3.2.2. Breakdown of Primary Sources 3. Executive Summary: Global Functional Food and Drinks Market Size, by Market Value (US$ Bn) 3.1. Global Market Segmentation 3.2. Global Market Segmentation Share Analysis, 2022 3.2.1. Global 3.2.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 3.3. Geographical Snapshot of the Functional Food and Drinks Market 3.4. Geographical Snapshot of the Functional Food and Drinks Market, By Manufacturer share 4. Global Functional Food and Drinks Market Overview, 2022-2029 4.1. Market Dynamics 4.1.1. Drivers 4.1.1.1. Global 4.1.1.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.2. Restraints 4.1.2.1. Global 4.1.2.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.3. Opportunities 4.1.3.1. Global 4.1.3.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.4. Challenges 4.1.4.1. Global 4.1.4.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.5. Industry Trends and Emerging Technologies 4.1.6. Porters Five Forces Analysis 4.1.6.1. Threat of New Entrants 4.1.6.2. Bargaining Power of Buyers/Consumers 4.1.6.3. Bargaining Power of Suppliers 4.1.6.4. Threat of Substitute Products 4.1.6.5. Intensity of Competitive Rivalry 4.1.7. Value Chain Analysis 4.1.8. Technological Roadmap 4.1.9. Regulatory landscape 4.1.10. Impact of the Covid-19 Pandemic on the Global Functional Food and Drinks Market 5. Supply Side and Demand Side Indicators 6. Global Functional Food and Drinks Market Analysis and Forecast, 2022-2029 6.1. Global Functional Food and Drinks Market Size & Y-o-Y Growth Analysis. 7. Global Functional Food and Drinks Market Analysis and Forecasts, 2022-2029 7.1. Market Size (Value) Estimates & Forecast By Product, 2022-2029 7.1.1. Functional Cereals and Grains 7.1.2. Functional Dairy Products 7.1.3. Functional Bakery Products 7.1.4. Functional Fats and Oils 7.1.5. Other Functional/Fortified Foods 7.2. Market Size (Value) Estimates & Forecast By Distribution Channel, 2022-2029 7.2.1. Supermarkets/Hypermarkets 7.2.2. Convenience Stores 7.2.3. Online Retails 7.2.4. Others 8. Global Functional Food and Drinks Market Analysis and Forecasts, By Region 8.1. Market Size (Value) Estimates & Forecast By Region, 2022-2029 8.1.1. North America 8.1.2. Europe 8.1.3. Asia-Pacific 8.1.4. Middle East & Africa 8.1.5. South America 9. North America Functional Food and Drinks Market Analysis and Forecasts, 2022-2029 9.1. Market Size (Value) Estimates & Forecast By Product, 2022-2029 9.1.1. Functional Cereals and Grains 9.1.2. Functional Dairy Products 9.1.3. Functional Bakery Products 9.1.4. Functional Fats and Oils 9.1.5. Other Functional/Fortified Foods 9.2. Market Size (Value) Estimates & Forecast By Distribution Channel, 2022-2029 9.2.1. Supermarkets/Hypermarkets 9.2.2. Convenience Stores 9.2.3. Online Retails 9.2.4. Others 10. North America Functional Food and Drinks Market Analysis and Forecasts, By Country 10.1. Market Size (Value) Estimates & Forecast By Country, 2022-2029 10.1.1. US 10.1.2. Canada 10.1.3. Mexico 11. U.S. Functional Food and Drinks Market Analysis and Forecasts, 2022-2029 11.1. Market Size (Value) Estimates & Forecast By Product, 2022-2029 11.2. Market Size (Value) Estimates & Forecast By Distribution Channel, 2022-2029 12. Canada Functional Food and Drinks Market Analysis and Forecasts, 2022-2029 12.1. Market Size (Value) Estimates & Forecast By Product, 2022-2029 12.2. Market Size (Value) Estimates & Forecast By Distribution Channel, 2022-2029 13. Mexico Functional Food and Drinks Market Analysis and Forecasts, 2022-2029 13.1. Market Size (Value) Estimates & Forecast By Product, 2022-2029 13.2. Market Size (Value) Estimates & Forecast By Distribution Channel, 2022-2029 14. Europe Functional Food and Drinks Market Analysis and Forecasts, 2022-2029 14.1. Market Size (Value) Estimates & Forecast By Product, 2022-2029 14.2. Market Size (Value) Estimates & Forecast By Distribution Channel, 2022-2029 15. Europe Functional Food and Drinks Market Analysis and Forecasts, By Country 15.1. Market Size (Value) Estimates & Forecast By Country, 2022-2029 15.1.1. U.K 15.1.2. France 15.1.3. Germany 15.1.4. Italy 15.1.5. Spain 15.1.6. Sweden 15.1.7. CIS Countries 15.1.8. Rest of Europe 16. U.K. Functional Food and Drinks Market Analysis and Forecasts, 2022-2029 16.1. Market Size (Value) Estimates & Forecast By Product, 2022-2029 16.2. Market Size (Value) Estimates & Forecast By Distribution Channel, 2022-2029 17. France Functional Food and Drinks Market Analysis and Forecasts, 2022-2029 17.1. Market Size (Value) Estimates & Forecast By Product, 2022-2029 17.2. Market Size (Value) Estimates & Forecast By Distribution Channel, 2022-2029 18. Germany Functional Food and Drinks Market Analysis and Forecasts, 2022-2029 18.1. Market Size (Value) Estimates & Forecast By Product, 2022-2029 18.2. Market Size (Value) Estimates & Forecast By Distribution Channel, 2022-2029 19. Italy Functional Food and Drinks Market Analysis and Forecasts, 2022-2029 19.1. Market Size (Value) Estimates & Forecast By Product, 2022-2029 19.2. Market Size (Value) Estimates & Forecast By Distribution Channel, 2022-2029 20. Spain Functional Food and Drinks Market Analysis and Forecasts, 2022-2029 20.1. Market Size (Value) Estimates & Forecast By Product, 2022-2029 20.2. Market Size (Value) Estimates & Forecast By Distribution Channel, 2022-2029 21. Sweden Functional Food and Drinks Market Analysis and Forecasts, 2022-2029 21.1. Market Size (Value) Estimates & Forecast By Product, 2022-2029 21.2. Market Size (Value) Estimates & Forecast By Distribution Channel, 2022-2029 22. CIS Countries Functional Food and Drinks Market Analysis and Forecasts, 2022-2029 22.1. Market Size (Value) Estimates & Forecast By Product, 2022-2029 22.2. Market Size (Value) Estimates & Forecast By Distribution Channel, 2022-2029 23. Rest of Europe Functional Food and Drinks Market Analysis and Forecasts, 2022-2029 23.1. Market Size (Value) Estimates & Forecast By Product, 2022-2029 23.2. Market Size (Value) Estimates & Forecast By Distribution Channel, 2022-2029 24. Asia Pacific Functional Food and Drinks Market Analysis and Forecasts, 2022-2029 24.1. Market Size (Value) Estimates & Forecast By Product, 2022-2029 24.2. Market Size (Value) Estimates & Forecast By Distribution Channel, 2022-2029 25. Asia Pacific Functional Food and Drinks Market Analysis and Forecasts, by Country 25.1. Market Size (Value) Estimates & Forecast By Country, 2022-2029 25.1.1. China 25.1.2. India 25.1.3. Japan 25.1.4. South Korea 25.1.5. Australia 25.1.6. ASEAN 25.1.7. Rest of Asia Pacific 26. China Functional Food and Drinks Market Analysis and Forecasts, 2022-2029 26.1. Market Size (Value) Estimates & Forecast By Product, 2022-2029 26.2. Market Size (Value) Estimates & Forecast By Distribution Channel, 2022-2029 27. India Functional Food and Drinks Market Analysis and Forecasts, 2022-2029 27.1. Market Size (Value) Estimates & Forecast By Product, 2022-2029 27.2. Market Size (Value) Estimates & Forecast By Distribution Channel, 2022-2029 28. Japan Functional Food and Drinks Market Analysis and Forecasts, 2022-2029 28.1. Market Size (Value) Estimates & Forecast By Product, 2022-2029 28.2. Market Size (Value) Estimates & Forecast By Distribution Channel, 2022-2029 29. South Korea Functional Food and Drinks Market Analysis and Forecasts, 2022-2029 29.1. Market Size (Value) Estimates & Forecast By Product, 2022-2029 29.2. Market Size (Value) Estimates & Forecast By Distribution Channel, 2022-2029 30. Australia Functional Food and Drinks Market Analysis and Forecasts, 2022-2029 30.1. Market Size (Value) Estimates & Forecast By Product, 2022-2029 30.2. Market Size (Value) Estimates & Forecast By Distribution Channel, 2022-2029 31. ASEAN Functional Food and Drinks Market Analysis and Forecasts, 2022-2029 31.1. Market Size (Value) Estimates & Forecast By Product, 2022-2029 31.2. Market Size (Value) Estimates & Forecast By Distribution Channel, 2022-2029 32. Rest of Asia Pacific Functional Food and Drinks Market Analysis and Forecasts, 2022-2029 32.1. Market Size (Value) Estimates & Forecast By Product, 2022-2029 32.2. Market Size (Value) Estimates & Forecast By Distribution Channel, 2022-2029 33. Middle East Africa Functional Food and Drinks Market Analysis and Forecasts, 2022-2029 33.1. Market Size (Value) Estimates & Forecast By Product, 2022-2029 33.2. Market Size (Value) Estimates & Forecast By Distribution Channel, 2022-2029 34. Middle East Africa Functional Food and Drinks Market Analysis and Forecasts, by Country 34.1. Market Size (Value) Estimates & Forecast by Country, 2022-2029 34.1.1. South Africa 34.1.2. GCC Countries 34.1.3. Egypt 34.1.4. Nigeria 34.1.5. Rest of ME&A 35. South Africa Functional Food and Drinks Market Analysis and Forecasts, 2022-2029 35.1. Market Size (Value) Estimates & Forecast By Product, 2022-2029 35.2. Market Size (Value) Estimates & Forecast By Distribution Channel, 2022-2029 36. GCC Countries Functional Food and Drinks Market Analysis and Forecasts, 2022-2029 36.1. Market Size (Value) Estimates & Forecast By Product, 2022-2029 36.2. Market Size (Value) Estimates & Forecast By Distribution Channel, 2022-2029 37. Egypt Functional Food and Drinks Market Analysis and Forecasts, 2022-2029 37.1. Market Size (Value) Estimates & Forecast By Product, 2022-2029 37.2. Market Size (Value) Estimates & Forecast By Distribution Channel, 2022-2029 38. Nigeria Functional Food and Drinks Market Analysis and Forecasts, 2022-2029 38.1. Market Size (Value) Estimates & Forecast By Product, 2022-2029 38.2. Market Size (Value) Estimates & Forecast By Distribution Channel, 2022-2029 39. Rest of ME&A Functional Food and Drinks Market Analysis and Forecasts, 2022-2029 39.1. Market Size (Value) Estimates & Forecast By Product, 2022-2029 39.2. Market Size (Value) Estimates & Forecast By Distribution Channel, 2022-2029 40. South America Functional Food and Drinks Market Analysis and Forecasts, 2022-2029 40.1. Market Size (Value) Estimates & Forecast By Product, 2022-2029 40.2. Market Size (Value) Estimates & Forecast By Distribution Channel, 2022-2029 41. South America Functional Food and Drinks Market Analysis and Forecasts, by Country 41.1. Market Size (Value) Estimates & Forecast by Country, 2022-2029 41.1.1. Brazil 41.1.2. Argentina 41.1.3. Rest of South America 42. Brazil Functional Food and Drinks Market Analysis and Forecasts, 2022-2029 42.1. Market Size (Value) Estimates & Forecast By Product, 2022-2029 42.2. Market Size (Value) Estimates & Forecast By Distribution Channel, 2022-2029 43. Argentina Functional Food and Drinks Market Analysis and Forecasts, 2022-2029 43.1. Market Size (Value) Estimates & Forecast By Product, 2022-2029 43.2. Market Size (Value) Estimates & Forecast By Distribution Channel, 2022-2029 44. Rest of South America Functional Food and Drinks Market Analysis and Forecasts, 2022-2029 44.1. Market Size (Value) Estimates & Forecast By Product, 2022-2029 44.2. Market Size (Value) Estimates & Forecast By Distribution Channel, 2022-2029 45. Competitive Landscape 45.1. Geographic Footprint of Major Players in the Global Functional Food and Drinks Market 45.2. Competition Matrix 45.2.1. Competitive Benchmarking of Key Players By Price, Presence, Market Share, Applications and R&D Investment 45.2.2. New Product Launches and Product Enhancements 45.2.3. Market Consolidation 45.2.3.1. M&A by Regions, Investment and Verticals 45.2.3.2. M&A, Forward Integration and Backward Integration 45.2.3.3. Partnership, Joint Ventures and Strategic Alliances/ Sales Agreements 45.3. Company Profile : Key Players 45.3.1. The Coca-Cola Company 45.3.1.1. Company Overview 45.3.1.2. Financial Overview 45.3.1.3. Geographic Footprint 45.3.1.4. Product Portfolio 45.3.1.5. Business Strategy 45.3.1.6. Recent Developments 45.3.2. Celsius Holdings, Inc. 45.3.3. PepsiCo, Inc. 45.3.4. Glanbia Plc 45.3.5. Nestle S.A. 45.3.6. Arla Foods amba 45.3.7. Hearthside Food Solutions LLC 45.3.8. Tyson Foods, Inc. 45.3.9. General Mills, Inc. 45.3.10. Danone S.A. 45.3.11. Kirin Holdings 45.3.12. Dean Foods 45.3.13. Mars Inc. 45.3.14. BNL Food Group 45.3.15. Kraft Foods Inc. 46. Primary Key Insights