The food with extra nutritional values along with potentially favorable effect on health is known as functional food. According to the doctors, functional food is an effective way to reduce the risk of diseases and provide an optimal health. In a similar way, the functional beverage is a non-alcoholic drink which includes vitamins, herbs, minerals, amino acids, or raw fruit to add flavors.
Market Snapshot
This report categorizes the market with various types, applications, companies, and regions. It focuses on the present scenario and the future growth of the global Functional Foods and Beverages market, especially in regions like North America, Asia-Pacific, Europe, South America, Middle East and Africa.
The global Functional Foods and Beverages market is expected to grow from USD xxxx million in 2019 to USD xxxx million by 2026, registering a CAGR of xxxx% from 2019 to 2026.
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Competitive Landscape
General Mills
Kellogg Company
Nestlé
PepsiCo
Archer Daniels Midland (ADM)
Campbell Soup
Del Monte Pacific
Dr. Pepper Snapple Group
Fonterra
JDB Group
Kraft Heinz
Living Essentials
Growth Driver
Growing interest in functional foods and beverage, increasing healthcare expenditure, and raising awareness among people regarding proper diet which advances the immune system are factors that projected to give impetus to market growth. Furthermore, the new generation attaches more importance to fitness, which is to help the Functional Foods and Beverages market to gain size. Besides, the increasing income and growing working women are some of the other important factors that poised to accelerate market development. On the contrary side, the high sugar content in many functional foods and beverages is considered as a factor that expected to hamper market growth.
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Regional Overview
North America is the leading market and expected to witness stable growth during the forecast period. The United States has proved to be the largest consumer, experiencing the highest demand for these products in the region. The Asia Pacific is expected to with robust growth during the predicted timeframe owing to the growing health consciousness and increasing disposable income of consumers. China, India, and Australia are also anticipated to witness significant growth in the coming years.
Type Overview
By product type, the Functional Foods and Beverages market is segmented into Functional fruit and vegetable juices, Energy beverages, Pro- and prebiotic drinks, Sports beverages, Functional Ready-To-Drink Teas, Dairy-alternatives beverages, Functional water.
Energy beverages segment holds the largest market share and will continue to dominate the market during the next few years. Increasing product and ingredient innovations will drive the market segment’s growth in the coming years.
Application Overview
Functional Foods and Beverages is deployed in various end users: Supermarkets, Independent retailers, Discounters, Convenience, and Online stores.
The supermarkets segment accounts for the maximum market share and will maintain dominance during the forecast period. These stores are equipped with multiple options and varieties of functional foods and beverages from various brands.
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Target Audience:
• Functional Foods and Beverages manufacturers
• Raw material suppliers of Functional Foods and Beverages
• Distributors and resellers of Functional Foods and Beverages
• Functional Foods and Beverages industry associations
• Product managers, Functional Foods and Beverages industry administrator, C-level executives of the industries
• Market Research and consulting firms
• Base Year: 2018
• Estimated Year: 2019
• Forecast Period: 2019 to 2026
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