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The global functional foods and beverages market size is projected to grow by USD 134 billion from 2022 to 2028, registering a CAGR of 8.3 percent, according to a new report by Gen Consulting Company.
This industry report offers market estimates of the global market, followed by a detailed analysis of the product, source, ingredient, function, and region. The global market data on functional foods and beverages can be segmented by product: functional beverages, functional foods. Globally, the functional beverages segment made up the largest share of the functional foods and beverages market. Functional foods and beverages market is further segmented by source: animal-based, microbial-based, plant-based. The plant-based segment captured the largest share of the market in 2021. Based on ingredient, the functional foods and beverages market is segmented into: amino acids, carotenoids, dietary fibers, fatty acids, phytochemicals, vitamins and minerals, others. According to the research, the vitamins and minerals segment had the largest share in the global functional foods and beverages market. On the basis of function, the functional foods and beverages market also can be divided into: cardiac health, cognitive health, general wellness and immunity, gut and digestive health, weight management, others. The general wellness and immunity segment held the largest revenue share in 2021. Functional foods and beverages market by region is categorized into: Asia Pacific, Europe, North America, Rest of the World (RoW).
The functional beverages market is further segmented into dairy drinkable, energy drinks, fruit and vegetable juices, prebiotic and probiotic drinks, tea and coffee, others. The prebiotic and probiotic drinks segment was the largest contributor to the global functional foods and beverages market in 2021. Furthermore, the functional foods market has been categorized into bakery and confectionery, cereals and flour, dairy non-drinkable, frozen fruits and vegetables, meat and seafood, sweet and savory snacks, others. The bakery and confectionery segment is estimated to account for the largest share of the global functional foods and beverages market.
The global functional foods and beverages market is highly competitive. The prominent players operating in the global functional foods and beverages market include Abbott Laboratories, Danone S.A., Enervit SpA, General Mills Inc., Glanbia Plc, GSK plc, Kerry Group plc, Kirkman Group Inc., Lallemand Inc., Meiji Holdings Co. Ltd., Morinaga Milk Industry Co. Ltd., Nestle S.A., Omega Protein Corporation, PepsiCo Inc., Suntory Holdings Limited, The Coca-Cola Company, The Hain Celestial Group Inc., The Kraft Heinz Company, Unilever plc, V V Food & Beverage Co. Ltd., Yakult Honsha Co. Ltd.
The data-centric report focuses on market trends, status and outlook for segments. With comprehensive market assessment across the major geographies, the report is a valuable asset for the existing players, new entrants and the future investors.
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