LONDON, Feb. 25, 2020 /PRNewswire/ -- The new report from business intelligence provider Visiongain offers an updated outlook for the global functional foods market and growing "superfood" trend. Visiongain assesses that the functional foods market will generate revenues of $84.8bn in 2020.
Rise in geriatric population is expected to boost the demand for functional food. Increasing age lowers the food intake and weakens the digestion hence functional food would be a better choice for old aged people as a mode of nutrition. For instance, according to the data published by United Nation in 2019, it estimated that globally around 982 million people are of age 60 or above, which comprise around 14% of the global population. The geriatric population (60 Years or above) is growing the rate of about 3% per year. Currently, Europe has the largest ratio of population aged 60 or over (around 25%). Furthermore, it was estimated that the number of older persons in the world is projected to be 1.4 billion in 2030 and 2.1 billion in 2050 and could rise to 3.1 billion in 2100. Change in dietary patterns with increased intake of energy dense foods and lack of physical activity has compelled the consumers to opt of functional foods. Moreover, growing health awareness among the consumers will further boost the growth of this industry.
Rise in disposable income and a greater awareness of functional products and ingredients, growth of the functional foods market in emerging countries is set to outpace that in developed countries. The growth of the population in China, India, Brazil and other developing countries, as well as an increasing middle class will largely contribute in the development of the health & wellness industry in regional markets, which consequently will trigger for the growth of the functional foods market. The regions of Asia-Pacific and South America offer good opportunities for the manufacturers of functional foods. In order to stay abreast in the market, companies need to innovate and appeal to the most recent consumer trends. "Superfoods" is one of these trends that will gain momentum during the forecast period.
Nearly 90% of American parents said that they buy functional foods or drinks for their children. Among numerous concerns, immunity is on the top of the list, followed by other issues such as cognitive development, digestive health, and vision. As a result, food companies are tapping this requirement by developing functional foods for kids that naturally promote heart health, healthy joints, and normal body weight for a healthy adult life.
However, supporting evidence-based health claims have become more challenging as regulators seek science behind claim specifications. For example, the FDA has published two guidance papers "Distinguishing Liquid Dietary Supplements from Beverages" and "Considerations Regarding Substances Added to Foods, Including Beverages and Dietary Supplements". Both guidance papers aim to provide clarity on the labelling, packaging, composition, serving, size, recommended daily intake and the directions of use of supplements. The quality of functional foods continues to be of critical importance. For example, China has captured approximately 90% of the Vitamin C market in the US, and Chinese food safety has always been a concern. Moreover, the production areas of vitamins are one of the most polluted areas in China.
Now: "Functional Food Industry Boom: Chia, Flax and Quinoa Seeds Markets Witnessing Double Digit Growth." This is an example of the business-critical headline that you need to know about – and more importantly, you need to read Visiongain's objective analysis of how this will impact your company and the industry more broadly. How are you and your company reacting to this news? Are you sufficiently informed?
To request sample pages from this report please contact Sara Peerun at [email protected] or refer to our website: https://www.visiongain.com/report/functional-foods-market-report-2020-2030/#download_sampe_div
How this report will benefit you
Read on to discover how you can exploit the future business opportunities emerging in the functional foods sector. Visiongain's new study tells you and tells you NOW.
In this brand-new report, you will receive 217 in-depth tables, charts and graphs– all unavailable elsewhere.
The 206-page report provides clear detailed insight into the global functional foods market. It reveals the key drivers and challenges affecting the market.
By ordering and reading our brand-new report today you will be better informed and ready to act.
• Global functional foods market forecasts from 2020-2030
• Regional functional foods market forecasts from 2020-2030 covering
• North America
• South America
• Western Europe
• Eastern Europe
• Middle East and Africa
• Country level functional foods forecasts from 2020-2030 covering
• Australia & New Zealand
• Functional foods submarket forecasts from 2020-2030 covering
• Functional Dairy
• Functional Bakery & Cereal
• Functional Baby Food
• Functional Fats & Oils
• Functional Meat, Fish & Eggs
• Other Functional Foods
• Analysis of the key factors driving growth in the global, regional and country level functional foods markets from 2020-2030
• Profiles and competitive positioning map of the leading 15 functional foods companies
• Abbott Laboratories
• Dean Foods
• General Mills
• Glanbia plc
• GlaxoSmithKline plc
• Orkla Group
• Raisio Group
• Royal FrieslandCampina N.V.
How will you benefit from this report?
• This report will keep your functional foods knowledge base up to speed. Don't get left behind
• This report will reinforce strategic decision decision-making based upon definitive and reliable market data
• You will learn how to exploit new functional foods technological trends
• You will be able to realise your company's full potential within the market
• You will better understand the competitive landscape and identify potential new business opportunities & partnerships
To request a report overview of this report please contact Sara Peerun at [email protected] or refer to our website: https://www.visiongain.com/report/functional-foods-market-report-2020-2030/
Did you know that we also offer a report add-on service? Email [email protected] to discuss any customized research needs you may have.
Companies covered in the report include:
Alara Wholefoods Ltd
Alimentos Sanygran S.L.
Alterial Les Recettes de Celiane
Archer Daniels Midland (ADM)
Aston Foods and Food Ingredients
Balsajo Black Garlic (UK) Ltd
Big Bear Group
Blue Bottle Coffee
Bo-Shin Flavors & Food Ingredients Ins
C. Hahne Muhlenwerke GmbH
Changsha Gree Biotechnology Co. Ltd.
Chicago Bar Company LLC
Cilag GmbH International
Damhert Nutrition nv
Devondale Murray Goulburn
Facundo Blanco S.A.
GlaxoSmithKline plc (GSK)
Grass Advantage LLC (Amazing Grass)
Green Island International TCM Group Ltd
Hanmi Natural Nutrition Co., Ltd
Healthy Foods Supplies LTD
Jentschura International GmbH
Kirin Holdings Company Ltd
Koninklijke DSM N.V.
Leader Foods Oy
Lifefood Czech Republic s.r.o.
Linwoods Health Foods
Loaf Of Nature
Lyckeby Starch AB
Megmilk snow brand Co
Merric Pet Care
Natures Aid Ltd
Novotech Nutraceuticals, Inc.
Of The Earth Superfoods
Organic Burst World S.A.
Origin Earth Ltd.
Orkla Health AS
Otsuka Pharmaceutical Co., Ltd
Pharmacare Europe Ltd
Primal Food Ltd
Royal FrieslandCampina N.V.
Sinorey Foods Co., Ltd.
Specialty Commodities Inc
Standard Functional Foods Group, Inc.
Superfoods and more Wholesale
Superfruit Scandinavia AB
Tendyne Holdings, Inc
The Green Labs LLC
The Isopure Company, LLC
Toda Kogyo Corp.
Wal-Mart Stores, Inc.
Xi'an Aquar Technoplogy & Business Co.,Ltd.
List of Organisations Mentioned in this Report
European Food Safety Authority (EFSA)
Food Safety and Standards Authority of India (FSSAI)
Japanese Food Safety Commission
Japanese Ministry of Education, Science and Culture
Japanese Ministry of Health, Labour, and Welfare (MHLW)
Japanese Pharmaceutical Affairs and Food Sanitation Council
National Health Surveillance Agency (ANVISA)
Organisation for Economic Co-operation and Development (OECD)
State Council Legislative Office (SCLO) China
The Brazilian Association of Foods for Special Purposes and Congeners (ABIAD)
The Committee for Scientific and Technical Assessment of Functional and New Foods (CTCAF)
The Mexican Government
U.S. Food and Drug Administration (FDA)
World Health Organization (WHO)
To see a report overview please e-mail Sara Peerun on [email protected]