Natural Functional Food Market: Survey, Trends, Outlook, Overview and 2023 Forecast

Market Overview

Functional food offers extra micronutrients, which include vitamins, minerals, fatty acids, and other essential elements. They are the medicated foods, which helps to enhance immunity systems and minimizes the chances of chronic diseases such as diabetes, cardiac diseases, cancer, obesity, and others. Natural functional food is prepared and processed without synthetic fertilizers or pesticides and does not contain any artificial flavors, colors or preservatives. Natural functional food has to meet the strict standards set by the regulatory bodies to state that all the ingredients used are 100% organic certified.  The rising concerns regarding the nutritional food coupled with the rising aging population are expected to fuel the demand for natural functional food.

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Competitive Analysis

Some of the Key Players in the Global Natural Functional Food Market are

  • Danone SA (France)
  • Abbott Laboratories Inc. (U.S.)
  • General Mills, Inc. (U.S.)
  • Nestlé (Switzerland)
  • Kraft Heinz Foods Company (U.S.)
  • Kellogg Co. (U.S.)
  • GlaxoSmithKline Plc. (U.K.)

The demand for Natural Functional Food has pushed manufacturers to innovate and develop the new product lines, which are better in taste and offers various health benefits.

Market Forecast           

Global Natural Functional Food Market is expected to be driven by the rising prevalence of chronic diseases among the consumers both in the developed and developing economies which is enforcing consumers to shift towards healthy and nutritional food consumption. The global natural functional food market is projected to propel the increasing awareness regarding available health benefits such as prevention from diseases including consumers suffering from diabetes, cancer, obesity, and others. Major market infiltration is leading to the introduction of new products based out of natural functional food and their retail across various regions. The market players are responding to these new opportunities by expanding their service offerings and product lines, which has fueled up the share of natural functional food in the global market. High nutritional benefits obtained from natural functional food are also supporting the sale of natural functional food globally. Additionally, the augmentation of the product development together with research advancements are other significant reasons for the increasing growth of natural functional food market. Hence, along with changing consumer preferences, the growth of global natural functional food market is significantly increasing during the forecast period of 2017-2023.

Downstream Market Analysis

Globalization and urbanization are the major driving factors of this market. Furthermore, the popularity of natural functional food and involvement of nutritional attributes as well as extra micronutrients are also encouraging the growth of the natural functional food market. Rising demand for natural products is expected to play a significant role in the growth of the global natural functional food market during the forecast period. Additionally, the augmentation of the product development together with research advancements are other significant reasons for the increasing growth of the natural functional food market from 2017-2023.

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Regional Analysis

Global Natural Functional Food Market is segmented on the basis of region into Europe, North America, Asia Pacific, and Rest of the World (RoW). Among these, Asia Pacific is estimated to retain its dominance over the forecast period 2017-2023. This is attributed to the increasing awareness about the healthy food habits and increasing disposable income of consumers. Also, due to growing demand for dietary products, nutritious food and beverages as well as due to health benefits of this product in this region. North America is estimated to account for 25% of the market share in the global natural functional food market in 2017, and it is projected to expand at a high pace during the review period. Also, the new product development by the key manufacturers of natural functional food is projected to be one of the significant reasons for the rising growth of natural functional food products in the North America. However, Asia Pacific region is estimated to witness a maximum growth in the global natural functional food market over the forecast period 2017-2023.

Market Segmentation

Global Natural Functional Food Market is segmented by product type, application, distribution channel, and region.

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