The Functional Foods Market Will Reach US$ 69.45bn in 2016

Friday 22 July 2016, Amsterdam

A new report, now available on ASDReports, predicts that the world market for functional foods will reach $69.45bn in 2016. This forecast and others appear in the Functional Foods Market Report 2016-2026.

The global market for functional foods will reach $69.45bn in 2016. In this report, visiongain defines functional foods as packaged products that carry specific “functional” or “health” claims. Driven by an increasing demand for fortified foods, health-conscious consumers and an increasing middle income class in many countries, the market for functional foods provides food companies with excellent growth opportunities. Currently, the functional dairy submarket represents the largest segment of the market mostly because it is easier to fortify dairy products. At the same time, other segments of the market, such as baby food, fats & oils and other functional foods will also deliver good growth rates in the next 10 years, driven by improvements in product fortification techniques, innovative ingredients and consumer demand for various groups of functional foods. In addition to the analysis of the functional foods market, this report also studies the “superfoods” trend, defining its position in the food industry, looking at a possible growth trajectory of this sector, as well as a legislative basis.

The key player has looked at the functional foods market and identified the main driving forces, as well as focused on barriers in the development of the industry. Also, the performance of functional foods submarkets by major food types is discussed, as well looked at from the different perspectives, such as: legal, technological and consumer.

The key player identified many opportunities and strengths within the current functional foods market, such as the fact that it remains open to new technological advances, new products, new flavours and textures, as well as new packaging formats that appeal to the latest consumer trends.