Functional Food Market size is set to grow by USD 127.46 bn from 2024-2028, rising health awareness boost the market- Technavio

NEW YORK, March 20, 2024 /PRNewswire/ -- The global functional food market size is estimated to grow by USD 127.46 bn from 2024 to 2028, according to Technavio. The market is estimated to grow at a CAGR of 7.66% during the forecast period. The functional food market is fueled by consumers prioritizing health. They seek foods with added benefits, such as immunity, weight management, and heart health. Key ingredients include probiotics, omega-3s, antioxidants, prebiotics, and fibers. Consumers prefer using food for prevention rather than treatment. Meat, eggs, soy, fish, fats & oils, sports nutrition, clinical nutrition, and weight management products cater to these needs. Key health concerns include cardio health, immunity, digestive health, and cardiovascular diseases like congestive heart failure and artery hardening.

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Research Analysis

In the Functional Food Market, RF Components play a crucial role in enhancing the efficacy of various health-promoting ingredients. Omega-3 fatty acids, for instance, are essential nutrients known to reduce the risk of Cardiovascular Disease. RF Components enable their stable integration into food products, ensuring optimal bioavailability. Similarly, Carotenoids, which contribute to Digestive Health and Clinical Nutrition, can be fortified using RF Technology. Probiotics and Fiber, key players in Intestinal Microflora balance, can also benefit from RF-assisted formulation. The Sports Nutrition Market, with its focus on performance and wellness, significantly leverages RF Components to deliver advanced functional food solutions.

 Market Segmentation

This Functional Food Market report extensively covers market segmentation by Distribution Channel (Offline, Online) Product Type (Dairy products, Bakery and cereals, Meat/fish and egg, Soy products and others) Geography (APAC, North America, Europe, South America, Middle East and Africa)

Market Segmentation by Product Type

In the Functional Food Market, the demand for protein-fortified dairy products is on the rise. Consumers seek convenient ways to incorporate essential nutrients into their diets for muscle health, weight management, and overall well-being. Danone SA's Activia Yogurt is a prime example, offering probiotic benefits, specifically the Bifidobacterium animalis DN-173 010 strain, for digestive health enhancement. In the RF Components Market, suppliers play a crucial role in providing essential nutrients and functional ingredients for the production of these dairy products. Protein sources, such as whey and plant-based proteins, are in high demand. Suppliers must ensure the quality and consistency of these components to meet the evolving needs of the functional food industry.

Geographic Landscape

The RF components market for functional food in APAC is experiencing significant growth due to the increasing demand for functional and packaged foods in developing countries like China, India, and Indonesia. With rising disposable incomes and heightened health consciousness, particularly among millennials, the market is witnessing a surge. China, Japan, South Korea, and India are the major contributors to this market, with China being a key player in the global functional foods market in terms of volume production. RF components play a crucial role in the production and preservation of functional foods, ensuring their quality and effectiveness. This trend is expected to continue, with the market showing promising growth prospects in the coming years.

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Trends

The RF components market plays a crucial role in the functional food industry's innovation and growth. Personalized nutrition, a significant trend in this sector, relies heavily on advanced technologies like genetic testing and data analytics. RF components, such as antennas and filters, enable seamless data transmission and reception in these applications. By facilitating the exchange of health and nutritional data, RF components contribute to the creation of customized functional food products that cater to individual health needs and preferences. This technology-driven approach enhances the industry's ability to offer targeted solutions, optimizing performance and overall well-being for consumers.

Research Analyst Overview

The RF Components Market for the Functional Food Market is experiencing significant growth due to the increasing demand for smart packaging solutions in the food industry. Eggs, soy products, and fish are notable sources of functional food ingredients, requiring advanced RF components for effective communication between packaging and consumers. Cardio-friendly and digestive-friendly nutrients are crucial considerations in this market, driving the need for innovative RF technologies. Immunity-boosting and artificial flavor enhancers are also factors influencing the market's expansion. Sports nutrition and clinical nutrition segments are expected to show notable growth in the coming years, necessitating the use of advanced RF components for product tracking and quality assurance. Clinical and cardiovascular applications are further boosting the market's growth, making RF components an essential component in the functional food industry.

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About US

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio