The market for functional foods and natural health products was assessed at US$ 22.4 billion in 2022, and from that year to 2032, it is anticipated to rise at a CAGR of 5.1%. By 2032, the market is projected to be worth US$ 37.5 billion.
However during the forecast period, Europe will exhibit more lucrative growth opportunities. In terms of functional food product, the market can be classified into bakery & confectionery, dairy, fish & eggs, canola-based, pulses-based, hemp-based, flax-based, oats-based, barley-based, soy, fats and oils
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Associated Health Benefits of Functional Foods and Natural Health Products to Accelerate Market Growth
The digestive system is responsible for catalysing the food products consumed and for the absorption of vitamins and minerals from food and nutritional supplements. Therefore, maintaining digestive health is a significant factor in optimizing nutrient intake and preventing deficiency-related bodily conditions.
Furthermore, the immune cells are also concentrated in the gut region, and a healthy microbiota is necessary for the body. Medical practitioners and individuals realized the associated health benefits, and thus, are recommending a targeted set of the bacterial strain, resulting in the bolstered demand for probiotic supplements, and therefore, the functional foods and natural health products market in the forecast period.
- The WHO predicts that by 2020, over 65 million people will have dementia and the prevalence of other neurodegenerative brain diseases, like Alzheimer’s, also on the rise. The pressure to produce successful treatments is growing but has proved unsuccessful so far. Scientists are increasingly looking for food products to slow down disease progression and treat symptoms.
Trend of Protein-rich Functional Snackification to Bolster Demand of Functional Foods and Natural Health Products
Japanese manufacturers are trying to make products more nutritious, following the protein trend in food. Consumer awareness concerning healthier ways to pull off weight loss, anti-aging, and other health-related issues through the intake of naturally-sourced protein is captivating many producers to offer protein-fortified products with health benefits. This trend has been an extensive driver for the growth of functional foods and natural health products across the globe.
Moreover, innovations in cheese snacks such as multi whole-grain flour as the base for producing chips and extruded snacks are expanding the consumer base, even from the health-conscious community. Other trends propelling functional foods and natural health products market include the increased demand for organic and naturally-sourced ingredients.
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Who is Winning?
Some of the leading players operating in the functional foods and natural health products Market are General Mills, GFR Pharma, Herbalife, Cargill Inc., Amway, and others.
As a result of increasing competition, functional foods and natural health products manufacturers are focusing on expanding their product portfolio and improving sourcing process. Their expansion strategies are further aided by agreements between them and local players across emerging market. These companies are particularly focusing on catering to changing consumer preference across various applications.
In addition to this, mergers and acquisition remains a popular strategy among market players. Companies intend to expand their regional footprint through strategic collaborations.
Market Segmentation
The global functional food and natural health products is segmented in detail to cover every aspect of the market and present complete market intelligence to
By Functional Food Product
- Bakery & Confectionery
- Dairy
- Fish & Eggs
- Canola-based
- Pulses-based
- Hemp-based
- Flax-based
- Oats-based
- Barley-based
- Soy
- Oils & Fats
- Others
By Natural Health Product
- Probiotics
- Proteins & Amino Acids
- Phytochemical & Plant Extracts
- Prebiotics
- Fibers & Specialty Carbohydrates
- Omega-3 Fatty Acids
- Carotenoids
- Natural Vitamins
- Natural Minerals
By Natural Health Product Form
- Capsules
- Tablets
- Soft Gels
- Other
By Region
- North America
- Latin America
- Europe
- APEJ
- Japan
- Oceania
- Middle East & Africa
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FREQUENTLY ASKED QUESTIONS ABOUT FUNCTIONAL FOOD AND NATURAL HEALTH PRODUCTS MARKET
What drives the functional foods and natural health products market?
Ans. Availability of a wide range of functional foods and natural health products has enabled consumers to have more options while buying products. Similarly, heavy advertising and promotional initiatives from functional foods and natural health products companies has increased the awareness among consumers, besides creating competition in the market.
Which factors put market players at risk?
Ans. Regulations around functional foods and natural health products vary from country to country due to which functional foods and natural health products manufacturers have to work closely with regulatory agencies and governments in order to capitalize on future market opportunities during which rules and regulations are altered.
Which region will lead the global sales of functional foods and natural health products?
Ans. North America will lead the global sales of functional foods and natural health products with market share of 24% in 2019.
Which natural health product segment offers most lucrative growth opportunities?
Ans. Omega-3 fatty acids segment is expected to show lucrative growth opportunities in the forecast period. The rising demand for food with added benefits such as functional foods and natural health products has created scope for the expansion of the segment. Which segment based on functional food product will record the highest growth?
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