Functional Food Market has been valued $xx billion in the year 2019 and it is estimated to reach $xx billion by the year 2026, with a CAGR of xx% from 2021 to 2026. Functional Food is foods that have a potentially positive effect on health beyond basic nutrition. Proponents of functional foods say they promote optimal health and help reduce the risk of disease; these are the main factors that have considerably increased the demand for the Functional Food in the market, thereby driving the huge growth of the Functional Food market in the upcoming years
Market Drivers and Restraints:
The main factors that have considerably increased the demand for the Functional Food in the market is mainly due to the increasingly becoming more aware of their health and have started paying more attention to their lifestyles and healthy diets, which has surged the demand for functional foods across the globe. The agro-food companies have responded to the new healthy eating trend and have developed a variety of new products with instructions and pictures to meet consumer demand.
Rise and evolution of wellness-focused diets such as keno and pale are forcing food manufacturers to cater their products in this direction. Digestive wellness is the biggest growth driver owing to the rising demand for low-carbohydrate, high-protein, and pale diets; these are the main factors that have considerably increased the demand for the Functional Food in the market, thereby driving the huge growth of the Functional Food market in the upcoming years
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Report is segmented as:
Functional Food Market is segmented on the basis of by:
By Ingredient (Dietary Fibers, Arytenoids, Minerals, Fatty Acids, Vitamins, Prebiotics & Probiotics and Others)
By Product (Dairy, Fruits & Vegetables, Beverages, Others)
By Application (Weight Management, Sports Nutrition, Digestive Health, Immunity, Cardio Health, Clinical Nutrition and Others)
Functional Food Market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa and rest of world. North America has the dominant share in the Functional Food is due to the increased absorption of calcium and magnesium these are the main factors that have considerably increased the demand for the Functional Food in the North America region, followed by Europe, Asia Pacific, Latin America and Middle East & Africa will register a slower increase in the Functional Food Market.
Impact of COVID-19 on Market
Covid-19 pandemic has impacted the growth of the Functional Food market, The COVID-19 has started in the end of 2019 in Wuhan china; this has affected many industries from different sectors in various countries and also affected Functional Food market. Covid-19 pandemic has impacted huge on the sales revenue Functional Food market. Due to the government restrictions like lockdown in many countries has stopped the production of products by the manufacturing companies, In recent days relaxation in restrictions by the government and people are getting vaccinated to stop the spread of corona virus are expecting to raise the Functional Food market growth.