The global functionalfoods and beverages market size is projected to reach USD 412.22 million by2026, exhibiting a CAGR of 8.49% during the forecast period. Increasingmalnutrition worldwide will be the primary growth driver for this market in thenear future, shares Fortune Business Insights™ in its new report, titled“Functional Foods and Beverages Market Size, Share & Industry Analysis, ByType (Cereals & Grains, Fats & Oils, Dairy Products, Bakery Products,and Other Functional/Fortified Foods) Distribution Channel (Supermarkets/Hypermarkets,Convenience Stores, Online Retail, and Others), and Regional Forecasts, 2019 –2026”.
List of Key PlayersCovered in the Report:
• TheCoca-Cola Company
• CelsiusHoldings, Inc.
• PepsiCo,Inc.
• Glanbiaplc
• NestleS.A.
• ArlaFoods amba
• HearthsideFood Solutions LLC
• TysonFoods, Inc.
• GeneralMills, Inc.
• DanoneS.A.
According to the World Health Organization (WHO), close to462 million people are underweight and 52 million children under the age of 5are suffering from wasting. Moreover, roughly 45% of deaths among childrenbelow 5 years of age occur due to under-nutrition. As a result, governmentshave spurred into action in both developed and developing countries. Forinstance, in 2019, the UK government made it mandatory to fortify flour withfolic acid to prevent occurrence of congenital disabilities in children.Similarly, in July 2019, the Indian government announced distribution of ricefortified with folic acid, Vitamin B12, and iron through the PublicDistribution System (PDS). The market for functional foods and beverages, thus,stands to gain from these developments.
The functional food and beverages market report states thatthe value of this market stood at USD 216.25 million in 2018. Other than this,the report contains the following:
• Detailedsegmentation of the market and piece-meal study of each segment;
• Exhaustiveresearch into the various market drivers and restraints;
• Comprehensiveanalysis of the regional developments and competitive milieu of the market; and
• Panoramicunderstanding of the industry outlook and trends shaping the market
Competitive Landscape
Development ofExciting Products to Stimulate Intense Competition
One of the leading functional food and beverages markettrends is the increasing focus of key players on the developing and launchingnew and exciting products in the market. Not only do these frequent launcheshelp companies solidify their position in the market, but they alsoperiodically realign the overall dynamics of market competition.
An Overview of theImpact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to astandstill. We understand that this health crisis has brought an unprecedentedimpact on businesses across industries. However, this too shall pass. Risingsupport from governments and several companies can help in the fight againstthis highly contagious disease. There are some industries that are strugglingand some are thriving. Overall, almost every sector is anticipated to beimpacted by the pandemic.
We are taking continuous efforts to help your businesssustain and grow during COVID-19 pandemics. Based on our experience andexpertise, we will offer you an impact analysis of coronavirus outbreak acrossindustries to help you prepare for the future.
Market Driver
High NutritionalValue of Functional Foods to Spike Uptake
The popularity of fortified food and beverages has beensteadily climbing in recent years, mainly due to the hectic and unhealthylifestyles people are leading in urban areas. As a result, there is a growingdemand for nutrition-rich food and beverage items fueled by rising health andwellness concerns. Functional foods have emerged as an attractive option formany consumers, given their wide-ranging and long-term benefits.
For example, functional foods and beverages fortified withomega-3 fatty acids can boost brain function, secure heart health, and reduceinflammation. The benefits of functional foods are not limited to just chronicand lifestyle-based disorders; they have proven efficacy in tackling theeffects of under-nourishment too. For example, the National Institutes ofHealth reported that the introduction of wheat flour fortified with iron inJordan led to 50% reduction in the incidence of iron deficiency anemia amongchildren.
Regional Analysis
Evolving Lifestylesin Asia-Pacific to Aid the Region Register Impressive CAGR
Asia-Pacific is slated to dominate the functional food andbeverages market share and grow at a CAGR of 9.20% during the forecast period.The central reason for this rise is the rapidly changing lifestyles of peoplethat are increasing the prevalence of chronic conditions in the region. Anexample of this is the increasing consumption of fast or “junk” food. Thus,there is a surging demand for nutritional foods as people are getting morehealth conscious, especially in India. In addition to foodstuffs, there is alsoa high demand for functional hydration, particularly in tropical countrieswhere water loss from the body is high. After Asia-Pacific, North America isexpected to be the second-largest region for this market, anticipated toregister a CAGR of 7.06% in the forthcoming years.
Browse CompleteReport:
https://www.fortunebusinessinsights.com/functional-foods-market-102269
