NEW YORK, Jan. 23, 2023 /PRNewswire/ -- The global functional foods and beverages market size is estimated to increase by USD 132.84 billion from 2022 to 2027. The market's growth momentum will accelerate at a CAGR of 7.45% during the forecast period - request a sample report
Global functional foods and beverages market – Vendor analysis
Vendor offerings -
- Archer Daniels Midland Co. - The company offers a wide range of functional foods and beverages, such as nutrition bars, cereals, snacks, baked goods, and dairy products.
- Campbell Soup Co. - The company offers a wide range of functional foods and beverages under its brands Pacific Foods and V8.
- Danone SA - The company offers a wide range of functional foods and beverages through its brands WhiteWave, Aqua, and Bonafont.
- Del Monte Pacific Ltd. - The company offers a wide range of functional foods and beverages under its brands Contadina, S&W, and Del Monte.
- For details on vendors and their offerings – buy the report!
Vendor landscape –
The global functional foods and beverages market is fragmented, with the presence of several global as well as regional vendors. A few prominent vendors that offer functional foods and beverages in the market are Archer Daniels Midland Co., Arla Foods amba, Campbell Soup Co., Danone SA, Del Monte Pacific Ltd., Fonterra Cooperative Group Ltd., General Mills Inc., Hildur Functional Foods Pvt. Ltd., Kellogg Co, Keurig Dr Pepper Inc., Nestle SA, Otsuka Holdings Co. Ltd., PepsiCo Inc., Suntory Holdings Ltd., T.C. Pharmaceutical Industries Co. Ltd., The Coca Cola Co., The Kraft Heinz Co., Tyson Foods Inc., Unilever PLC, and Zbiotics Inc. and others.
Vendors in the market compete in terms of product differentiation, portfolio, and pricing. The competition among the vendors in this market is expected to intensify during the forecast period due to factors such as an increase in the number of offerings and the presence of a wide variety of functional foods and beverages.
Global functional foods and beverages market - Customer landscape
To help companies evaluate and develop growth strategies, the report outlines –
- Key purchase criteria
- Adoption rates
- Adoption lifecycle
- Drivers of price sensitivity
Global functional foods and beverages market - Segmentation assessment
Segment overview
Technavio has segmented the market based on product (functional foods and functional beverages) and distribution channel (offline and online).
- The functional foods segment will grow at a significant rate during the forecast period. Product and ingredient innovations in this segment will drive its growth. The increasing demand for functional foods among the aging population and rising health consciousness will also drive the segment's growth. The demand for healthy foods is increasing, as consumers are gradually moving to healthier alternatives. Thus, an increase in awareness about the benefits of healthy diets will drive the demand for functional foods during the forecast period.
Geography overview
Based on geography, the global functional foods and beverages market is segmented into APAC, North America, Europe, Middle East and Africa, and South America. The report provides actionable insights and estimates the contribution of all regions to the growth of the global functional foods and beverages market.
- APAC is estimated to account for 33% of the growth of the global market during the forecast period. The high demand for functional foods and beverages is driving the market's growth in the region. China, Japan, South Korea, and India are the major countries in the market in APAC. In these countries, the increasing preference for functional foods and beverages owing to the rise in health consciousness, especially among millennials, is driving the growth of the market.
Global functional foods and beverages market – Market dynamics
Leading drivers - Product innovations are notably driving the market growth. Manufacturers are focusing on balancing functional benefits and flavor to meet consumers' demands. Advances in technology have led to the development of products that mask the unpleasant taste of some functional ingredients. For example, effective microencapsulation allows manufacturers to hide the bitter taste of amino acids and other ingredients. These factors are excepted to fuel the growth of the global foods and beverages market during the forecast period.
Key trends – The increasing use of natural ingredients and botanicals in functional drinks is a key trend in the market. Vendors are experimenting with unique ingredients and are introducing numerous assortments of natural functional drinks. For instance, Scheckter's Organic Energy is a 100% organic energy drink that contains organic Brazilian guarana, organic raw Brazilian coffee seed, ginkgo Biloba, organic pomegranate juice, organic ginseng, organic elderberry, organic lemon juice, organic raw fair trade sugar, and natural spring water. Therefore, the introduction of natural ingredient-based functional drinks is expected to support the growth of the market during the forecast period.
Major challenges - Product ingredient labeling is driving the market growth. Research has to be conducted to validate the claims made by manufacturers regarding their effectiveness and to check for associated health risks. Many ingredients found in popular energy drinks have side effects and contain potentially harmful chemicals with more than the recommended amount. The mixing of functional beverages formulated to boost energy with those formulated to lower blood pressure can also cause side effects. Such factors are expected to limit the growth of the global foods and beverages market during the forecast period.
What are the key data covered in this functional foods and beverages market report?
- CAGR of the market during the forecast period
- Detailed information on factors that will drive the growth of the functional foods and beverages market between 2023 and 2027
- Precise estimation of the size of the functional foods and beverages market and its contribution to the parent market
- Accurate predictions about upcoming trends and changes in consumer behavior
- Growth of the functional foods and beverages market across APAC, North America, Europe, Middle East and Africa, and South America
- A thorough analysis of the market's competitive landscape and detailed information about vendors
- Comprehensive analysis of factors that will challenge the growth of functional foods and beverages market vendors
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The size of the functional foods and beverages market in North America is expected to increase by USD 32.58 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 7.29%. This report extensively covers segmentation in North America by product (functional foods and functional beverages) and geography (US, Canada, and Mexico).
The functional chewing gum market is estimated to grow at a CAGR of 5.25% between 2022 and 2027. The size of the market is forecasted to increase by USD 2828.5 million. This report extensively covers market segmentation by distribution channel (convenience stores, hypermarkets and supermarkets, and online), product (oral health gum, nicotine gum, weight gum, and lifestyle gum), and geography (APAC, Europe, North America, Middle East and Africa, and South America).
Functional Foods and Beverages Market Scope |
|
Report Coverage |
Details |
Page number |
171 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 7.45% |
Market growth 2023-2027 |
USD 132.84 billion |
Market structure |
Fragmented |
YoY growth 2022-2023 (%) |
6.52 |
Regional analysis |
APAC, North America, Europe, Middle East and Africa, and South America |
Performing market contribution |
APAC at 33% |
Key countries |
US, China, Japan, Germany, and UK |
Competitive landscape |
Leading vendors, market positioning of vendors, competitive strategies, and industry risks |
Key companies profiled |
Archer Daniels Midland Co., Arla Foods amba, Campbell Soup Co., Danone SA, Del Monte Pacific Ltd., Fonterra Cooperative Group Ltd., General Mills Inc., Hildur Functional Foods Pvt. Ltd., Kellogg Co, Keurig Dr Pepper Inc., Nestle SA, Otsuka Holdings Co. Ltd., PepsiCo Inc., Suntory Holdings Ltd., T.C. Pharmaceutical Industries Co. Ltd., The Coca Cola Co., The Kraft Heinz Co., Tyson Foods Inc., Unilever PLC, and Zbiotics Inc. |
Market dynamics |
Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Browse for Technavio's consumer staples market reports
Table of contents
1 Executive Summary
- 1.1 Market overview
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Global Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market by Geography
- Exhibit 05: Executive Summary – Chart on Market Segmentation by Product
- Exhibit 06: Executive Summary – Chart on Market Segmentation by Distribution Channel
- Exhibit 07: Executive Summary – Chart on Incremental Growth
- Exhibit 08: Executive Summary – Data Table on Incremental Growth
- Exhibit 09: Executive Summary – Chart on Vendor Market Positioning
2 Market Landscape
- 2.1 Market ecosystem
- Exhibit 10: Parent market
- Exhibit 11: Market Characteristics
3 Market Sizing
- 3.1 Market definition
- Exhibit 12: Offerings of vendors included in the market definition
- 3.2 Market segment analysis
- Exhibit 13: Market segments
- 3.3 Market size 2022
- 3.4 Market outlook: Forecast for 2022-2027
- Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ billion)
- Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ billion)
- Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
- Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)
4 Historic Market Size
- 4.1 Global functional foods and beverages market 2017 - 2021
- Exhibit 18: Historic Market Size – Data Table on Global functional foods and beverages market 2017 - 2021 ($ billion)
- 4.2 Product Segment Analysis 2017 - 2021
- Exhibit 19: Historic Market Size – Product Segment 2017 - 2021 ($ billion)
- 4.3 Distribution channel Segment Analysis 2017 - 2021
- Exhibit 20: Historic Market Size – Distribution channel Segment 2017 - 2021 ($ billion)
- 4.4 Geography Segment Analysis 2017 - 2021
- Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ billion)
- 4.5 Country Segment Analysis 2017 - 2021
- Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ billion)
5 Five Forces Analysis
- 5.1 Five forces summary
- Exhibit 23: Five forces analysis - Comparison between 2022 and 2027
- 5.2 Bargaining power of buyers
- Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027
- 5.3 Bargaining power of suppliers
- Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027
- 5.4 Threat of new entrants
- Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027
- 5.5 Threat of substitutes
- Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027
- 5.6 Threat of rivalry
- Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027
- 5.7 Market condition
- Exhibit 29: Chart on Market condition - Five forces 2022 and 2027
6 Market Segmentation by Product
- 6.1 Market segments
- Exhibit 30: Chart on Product - Market share 2022-2027 (%)
- Exhibit 31: Data Table on Product - Market share 2022-2027 (%)
- 6.2 Comparison by Product
- Exhibit 32: Chart on Comparison by Product
- Exhibit 33: Data Table on Comparison by Product
- 6.3 Functional foods - Market size and forecast 2022-2027
- Exhibit 34: Chart on Functional foods - Market size and forecast 2022-2027 ($ billion)
- Exhibit 35: Data Table on Functional foods - Market size and forecast 2022-2027 ($ billion)
- Exhibit 36: Chart on Functional foods - Year-over-year growth 2022-2027 (%)
- Exhibit 37: Data Table on Functional foods - Year-over-year growth 2022-2027 (%)
- 6.4 Functional beverages - Market size and forecast 2022-2027
- Exhibit 38: Chart on Functional beverages - Market size and forecast 2022-2027 ($ billion)
- Exhibit 39: Data Table on Functional beverages - Market size and forecast 2022-2027 ($ billion)
- Exhibit 40: Chart on Functional beverages - Year-over-year growth 2022-2027 (%)
- Exhibit 41: Data Table on Functional beverages - Year-over-year growth 2022-2027 (%)
- 6.5 Market opportunity by Product
- Exhibit 42: Market opportunity by Product ($ billion)
7 Market Segmentation by Distribution Channel
- 7.1 Market segments
- Exhibit 43: Chart on Distribution Channel - Market share 2022-2027 (%)
- Exhibit 44: Data Table on Distribution Channel - Market share 2022-2027 (%)
- 7.2 Comparison by Distribution Channel
- Exhibit 45: Chart on Comparison by Distribution Channel
- Exhibit 46: Data Table on Comparison by Distribution Channel
- 7.3 Offline - Market size and forecast 2022-2027
- Exhibit 47: Chart on Offline - Market size and forecast 2022-2027 ($ billion)
- Exhibit 48: Data Table on Offline - Market size and forecast 2022-2027 ($ billion)
- Exhibit 49: Chart on Offline - Year-over-year growth 2022-2027 (%)
- Exhibit 50: Data Table on Offline - Year-over-year growth 2022-2027 (%)
- 7.4 Online - Market size and forecast 2022-2027
- Exhibit 51: Chart on Online - Market size and forecast 2022-2027 ($ billion)
- Exhibit 52: Data Table on Online - Market size and forecast 2022-2027 ($ billion)
- Exhibit 53: Chart on Online - Year-over-year growth 2022-2027 (%)
- Exhibit 54: Data Table on Online - Year-over-year growth 2022-2027 (%)
- 7.5 Market opportunity by Distribution Channel
- Exhibit 55: Market opportunity by Distribution Channel ($ billion)
8 Customer Landscape
- 8.1 Customer landscape overview
- Exhibit 56: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
9 Geographic Landscape
- 9.1 Geographic segmentation
- Exhibit 57: Chart on Market share by geography 2022-2027 (%)
- Exhibit 58: Data Table on Market share by geography 2022-2027 (%)
- 9.2 Geographic comparison
- Exhibit 59: Chart on Geographic comparison
- Exhibit 60: Data Table on Geographic comparison
- 9.3 APAC - Market size and forecast 2022-2027
- Exhibit 61: Chart on APAC - Market size and forecast 2022-2027 ($ billion)
- Exhibit 62: Data Table on APAC - Market size and forecast 2022-2027 ($ billion)
- Exhibit 63: Chart on APAC - Year-over-year growth 2022-2027 (%)
- Exhibit 64: Data Table on APAC - Year-over-year growth 2022-2027 (%)
- 9.4 North America - Market size and forecast 2022-2027
- Exhibit 65: Chart on North America - Market size and forecast 2022-2027 ($ billion)
- Exhibit 66: Data Table on North America - Market size and forecast 2022-2027 ($ billion)
- Exhibit 67: Chart on North America - Year-over-year growth 2022-2027 (%)
- Exhibit 68: Data Table on North America - Year-over-year growth 2022-2027 (%)
- 9.5 Europe - Market size and forecast 2022-2027
- Exhibit 69: Chart on Europe - Market size and forecast 2022-2027 ($ billion)
- Exhibit 70: Data Table on Europe - Market size and forecast 2022-2027 ($ billion)
- Exhibit 71: Chart on Europe - Year-over-year growth 2022-2027 (%)
- Exhibit 72: Data Table on Europe - Year-over-year growth 2022-2027 (%)
- 9.6 Middle East and Africa - Market size and forecast 2022-2027
- Exhibit 73: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
- Exhibit 74: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
- Exhibit 75: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
- Exhibit 76: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)
- 9.7 South America - Market size and forecast 2022-2027
- Exhibit 77: Chart on South America - Market size and forecast 2022-2027 ($ billion)
- Exhibit 78: Data Table on South America - Market size and forecast 2022-2027 ($ billion)
- Exhibit 79: Chart on South America - Year-over-year growth 2022-2027 (%)
- Exhibit 80: Data Table on South America - Year-over-year growth 2022-2027 (%)
- 9.8 US - Market size and forecast 2022-2027
- Exhibit 81: Chart on US - Market size and forecast 2022-2027 ($ billion)
- Exhibit 82: Data Table on US - Market size and forecast 2022-2027 ($ billion)
- Exhibit 83: Chart on US - Year-over-year growth 2022-2027 (%)
- Exhibit 84: Data Table on US - Year-over-year growth 2022-2027 (%)
- 9.9 China - Market size and forecast 2022-2027
- Exhibit 85: Chart on China - Market size and forecast 2022-2027 ($ billion)
- Exhibit 86: Data Table on China - Market size and forecast 2022-2027 ($ billion)
- Exhibit 87: Chart on China - Year-over-year growth 2022-2027 (%)
- Exhibit 88: Data Table on China - Year-over-year growth 2022-2027 (%)
- 9.10 Japan - Market size and forecast 2022-2027
- Exhibit 89: Chart on Japan - Market size and forecast 2022-2027 ($ billion)
- Exhibit 90: Data Table on Japan - Market size and forecast 2022-2027 ($ billion)
- Exhibit 91: Chart on Japan - Year-over-year growth 2022-2027 (%)
- Exhibit 92: Data Table on Japan - Year-over-year growth 2022-2027 (%)
- 9.11 Germany - Market size and forecast 2022-2027
- Exhibit 93: Chart on Germany - Market size and forecast 2022-2027 ($ billion)
- Exhibit 94: Data Table on Germany - Market size and forecast 2022-2027 ($ billion)
- Exhibit 95: Chart on Germany - Year-over-year growth 2022-2027 (%)
- Exhibit 96: Data Table on Germany - Year-over-year growth 2022-2027 (%)
- 9.12 UK - Market size and forecast 2022-2027
- Exhibit 97: Chart on UK - Market size and forecast 2022-2027 ($ billion)
- Exhibit 98: Data Table on UK - Market size and forecast 2022-2027 ($ billion)
- Exhibit 99: Chart on UK - Year-over-year growth 2022-2027 (%)
- Exhibit 100: Data Table on UK - Year-over-year growth 2022-2027 (%)
- 9.13 Market opportunity by geography
- Exhibit 101: Market opportunity by geography ($ billion)
10 Drivers, Challenges, and Trends
- 10.1 Market drivers
- 10.2 Market challenges
- 10.3 Impact of drivers and challenges
- Exhibit 102: Impact of drivers and challenges in 2022 and 2027
- 10.4 Market trends
11 Vendor Landscape
- 11.1 Overview
- 11.2 Vendor landscape
- Exhibit 103: Overview on Criticality of inputs and Factors of differentiation
- 11.3 Landscape disruption
- Exhibit 104: Overview on factors of disruption
- 11.4 Industry risks
- Exhibit 105: Impact of key risks on business
12 Vendor Analysis
- 12.1 Vendors covered
- Exhibit 106: Vendors covered
- 12.2 Market positioning of vendors
- Exhibit 107: Matrix on vendor position and classification
- 12.3 Archer Daniels Midland Co.
- Exhibit 108: Archer Daniels Midland Co. - Overview
- Exhibit 109: Archer Daniels Midland Co. - Business segments
- Exhibit 110: Archer Daniels Midland Co. - Key offerings
- Exhibit 111: Archer Daniels Midland Co. - Segment focus
- 12.4 Campbell Soup Co.
- Exhibit 112: Campbell Soup Co. - Overview
- Exhibit 113: Campbell Soup Co. - Business segments
- Exhibit 114: Campbell Soup Co. - Key offerings
- Exhibit 115: Campbell Soup Co. - Segment focus
- 12.5 Danone SA
- Exhibit 116: Danone SA - Overview
- Exhibit 117: Danone SA - Business segments
- Exhibit 118: Danone SA - Key news
- Exhibit 119: Danone SA - Key offerings
- Exhibit 120: Danone SA - Segment focus
- 12.6 Del Monte Pacific Ltd.
- Exhibit 121: Del Monte Pacific Ltd. - Overview
- Exhibit 122: Del Monte Pacific Ltd. - Business segments
- Exhibit 123: Del Monte Pacific Ltd. - Key offerings
- Exhibit 124: Del Monte Pacific Ltd. - Segment focus
- 12.7 Fonterra Cooperative Group Ltd.
- Exhibit 125: Fonterra Cooperative Group Ltd. - Overview
- Exhibit 126: Fonterra Cooperative Group Ltd. - Business segments
- Exhibit 127: Fonterra Cooperative Group Ltd. - Key news
- Exhibit 128: Fonterra Cooperative Group Ltd. - Key offerings
- Exhibit 129: Fonterra Cooperative Group Ltd. - Segment focus
- 12.8 General Mills Inc.
- Exhibit 130: General Mills Inc. - Overview
- Exhibit 131: General Mills Inc. - Business segments
- Exhibit 132: General Mills Inc. - Key news
- Exhibit 133: General Mills Inc. - Key offerings
- Exhibit 134: General Mills Inc. - Segment focus
- 12.9 Hildur Functional Foods Pvt. Ltd.
- Exhibit 135: Hildur Functional Foods Pvt. Ltd. - Overview
- Exhibit 136: Hildur Functional Foods Pvt. Ltd. - Product / Service
- Exhibit 137: Hildur Functional Foods Pvt. Ltd. - Key offerings
- 12.10 Kellogg Co
- Exhibit 138: Kellogg Co - Overview
- Exhibit 139: Kellogg Co - Business segments
- Exhibit 140: Kellogg Co - Key news
- Exhibit 141: Kellogg Co - Key offerings
- Exhibit 142: Kellogg Co - Segment focus
- 12.11 Keurig Dr Pepper Inc.
- Exhibit 143: Keurig Dr Pepper Inc. - Overview
- Exhibit 144: Keurig Dr Pepper Inc. - Business segments
- Exhibit 145: Keurig Dr Pepper Inc. - Key news
- Exhibit 146: Keurig Dr Pepper Inc. - Key offerings
- Exhibit 147: Keurig Dr Pepper Inc. - Segment focus
- 12.12 Nestle SA
- Exhibit 148: Nestle SA - Overview
- Exhibit 149: Nestle SA - Business segments
- Exhibit 150: Nestle SA - Key news
- Exhibit 151: Nestle SA - Key offerings
- Exhibit 152: Nestle SA - Segment focus
- 12.13 PepsiCo Inc.
- Exhibit 153: PepsiCo Inc. - Overview
- Exhibit 154: PepsiCo Inc. - Business segments
- Exhibit 155: PepsiCo Inc. - Key news
- Exhibit 156: PepsiCo Inc. - Key offerings
- Exhibit 157: PepsiCo Inc. - Segment focus
- 12.14 Suntory Holdings Ltd.
- Exhibit 158: Suntory Holdings Ltd. - Overview
- Exhibit 159: Suntory Holdings Ltd. - Business segments
- Exhibit 160: Suntory Holdings Ltd. - Key offerings
- Exhibit 161: Suntory Holdings Ltd. - Segment focus
- 12.15 The Coca Cola Co.
- Exhibit 162: The Coca Cola Co. - Overview
- Exhibit 163: The Coca Cola Co. - Business segments
- Exhibit 164: The Coca Cola Co. - Key news
- Exhibit 165: The Coca Cola Co. - Key offerings
- Exhibit 166: The Coca Cola Co. - Segment focus
- 12.16 The Kraft Heinz Co.
- Exhibit 167: The Kraft Heinz Co. - Overview
- Exhibit 168: The Kraft Heinz Co. - Business segments
- Exhibit 169: The Kraft Heinz Co. - Key offerings
- Exhibit 170: The Kraft Heinz Co. - Segment focus
- 12.17 Unilever PLC
- Exhibit 171: Unilever PLC - Overview
- Exhibit 172: Unilever PLC - Business segments
- Exhibit 173: Unilever PLC - Key news
- Exhibit 174: Unilever PLC - Key offerings
- Exhibit 175: Unilever PLC - Segment focus
13 Appendix
- 13.1 Scope of the report
- 13.2 Inclusions and exclusions checklist
- Exhibit 176: Inclusions checklist
- Exhibit 177: Exclusions checklist
- 13.3 Currency conversion rates for US$
- Exhibit 178: Currency conversion rates for US$
- 13.4 Research methodology
- Exhibit 179: Research methodology
- Exhibit 180: Validation techniques employed for market sizing
- Exhibit 181: Information sources
- 13.5 List of abbreviations
- Exhibit 182: List of abbreviations
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide 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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