LONDON–(BUSINESS WIRE)–The global functional foods and beverages market is poised to grow by USD 276.68 billion during 2020-2024, progressing at a CAGR of about 9% during the forecast period. Request free sample pages
Read the 120-page report with TOC on “Functional Foods and Beverages Market Analysis Report by Product (Functional foods and Functional beverages), Geographic segmentation (APAC, Europe, MEA, North America, and South America), and the Segment Forecasts, 2020-2024”.
The market is driven by the health benefits associated with functional foods and beverages. In addition, the rise in demand for new varieties of functional foods is anticipated to boost the growth of the functional foods and beverages market.
Functional foods and beverages such as blueberries and almonds contain ingredients like herbs, amino acids, antioxidants, bacteria, minerals, and vitamins. The consumption of these foods has beneficial effects on the body as it provides hydration and electrolyte replenishing benefits post-exercise and enhances the intestinal flora and gut function. It also improves the digestive health, enhances immune system, improves heart rate, and boosts mental strength. The rising healthcare costs and growing need to prevent diseases among consumers, various healthcare physicians recommend the addition of functional foods and drinks in their dietary plan. Thus, the health benefits associated with functional foods and beverages is expected to drive market growth during the forecast period.
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Major Five Functional Foods and Beverages Market Companies:
Archer Daniels Midland Co.
Archer Daniels Midland Co. operates the business under various segments such as Ag Services and Oilseeds, Carbohydrate Solutions, Nutrition, and Other. The company offers NOVATOL Naturally Sourced Vitamin E and NovaSoy Soy Isoflavones.
Campbell Soup Co.
Campbell Soup Co. offers products through the following business units: Meals and Beverages and Snacks. The company offers V8 +Energy and V8 Red. They also provide crackers, cookies, fresh bakery and frozen products under the brands Goldfish, Kettle, Lance, and Milano.
Fonterra Co-operative Group Ltd.
Fonterra Co-operative Group Ltd. operates under various business segments, namely Ingredients, Consumer and foodservice, and China Farms. The company offers hydrolyzed whey protein, whey protein isolates, and whey protein concentrates.
General Mills Inc.
General Mills Inc. offers products through the following business segments: North America Retail, Convenience Stores and Foodservice, Europe and Australia, and Asia and Latin America. The company offers Cheerios Oat Crunch and Multi Grain Cheerios.
Kellogg Co. offers products through the following business segments: US Snacks, US Morning Foods, US Specialty Channels, North America Other, Europe, Latin America, and APAC. The company offers Kellogg’s Oats and Kellogg’s Muesli Crunchy Fruit & Nut.
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Functional Foods and Beverages Market Product Outlook (Revenue, USD Billion, 2020-2024)
- Functional foods
- Functional beverages
Functional Foods and Beverages Market Geographic Outlook (Revenue, USD Billion, 2020-2024)
- North America
- South America
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