Nutraceuticals Market: Functional Food 4/4

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The Nutraceuticals Market report by Grand View Research covers sector trends, regulations, drivers and estimated growth and challenges of the nutraceuticals market. Establishing a broad market overview over the forecast period of 2017 to 2025, the report delves further into three key products in the nutraceutical market; dietary supplements, functional beverage, and functional food.

Trends and Predictions
Changing lifestyle is the key driving factor in the functional food market. There is an increasing interest in health and fitness among consumers, and there is a greater awareness of prevention of illness. These developments have created a demand for nutritional and healthy food products.
Rapid advancements in science and technology have contributed to the continued development of functional foods. Key industry participants have invested further in functional foods so that they can offer a broader range and improved products. The advancement of products in the market and wider choice to consumers are forecast to drive demand for functional food between 2017 and 2025.

Function Food Movement Analysis, 2016 and 2025 (USD Million)

functional_food_analysis

Source: Hoovers, Factiva, ICIS, Nutraceuticals World, Food Navigator, Journal of Functional Foods, Company Annual Reports, Company websites, Grand View Research

While changing lifestyle has created a need for more health-conscious products, it has also altered how people are consuming food. Eating out of the home has increased which has created a demand for packaged food and beverages. This is a consideration for players in the functional food market as it adds further convenience to products.

functional_food_revenue

Source: Hoovers, Factiva, ICIS, Nutraceuticals World, Food Navigator, Journal of Functional Foods, Company Annual Reports, Company websites, Grand View Research

Functional Foods

Carotenoids
Foods rich in carotenoids decrease the possibility of diseases such as cardiovascular diseases, cancer, cataracts, age related macular degeneration, and other degenerative diseases. Advancements in food technology and a growing awareness among consumers of the benefits of carotenoids, particularly among the aging population, have contributed to a significant predicted growth in this market which is estimated to grow at CAGR 7.6% from 2017 to 2025.

Dietary Fibres
The dietary fibers market is estimated to grow from USD 16,980.2 million in 2016 to USD 39,544.3 million in 2025. Including a wide range of natural minerals, dietary fibres are known for helping to maintain a healthy weight and lowering risk of diabetes and heart disease. There has been an increase in research and development of fibres from major players such as Cargill Incorporated, Archer Daniels Midland Company, Ingredion Incorporated, and DuPont.

Fatty Acids
Awareness of the benefits of essential fatty acids in the human body, including disease prevention, has increased in recent years. The key fatty acids that are consumed are Omega-3 and Omega-6, the former of which are helpful in lowering various health risks such as strokes, heart disease, diabetes, depression, and rheumatoid arthritis. The fatty acids market is projected to grow at a CAGR 6.1% from 2017 to 2025.

Minerals
Minerals are inorganic compounds needed in small amounts for the regulation of the body processes, usually found in various dairy products and green vegetables including spinach and broccoli. Divided into two categories, macro and trace, key minerals required for the human body include sodium, chloride, potassium, calcium,phosphorus, sulfur, and iron. The mineral market is also expected to see growth at an estimated CAGR 5.9% from 2017 to 2025.

Prebiotic and Probiotic
Prebiotics help immune enhancement, and also reduce the risk of cancer, diarrhea, obesity, and osteoporosis. This functional food is widely used to prepare fermented dairy products and is found in fruit and vegetables. The growing consumption of prebiotics in dairy products, owing to high monetary gains, is expected to augment the market over the forecast period.
Prebiotics and probiotic based functional food was valued USD 6,102.1 million in 2016 and is expected to reach USD 15,285.9 million in 2025. Although significant growth is forecast, rigid regulations for registration and labeling of ingredients, along with high cost involved in the research and development of this ingredient, is estimated to restrain the market.

Vitamins
The vitamins segment of the functional foods market accounted for the major market share of 23% in 2016 and is projected to grow at a CAGR of 6.4% in terms of revenue over the forecast period. Changes in food laws, aging population, increasing healthcare costs, improving science and technology, and rising interests of people attaining wellness through diet are estimated to propel the market over the forecast period, with projections for this segment to grow from USD 18,381.4 million in 2016 to USD 32,454.9 million in 2025.

Focus on Germany

The report suggests that there are two functional food ingredients in particular that are expected to grow at a rapid rate in Germany; dietary fibers and prebiotics. Awareness regarding fiber intake to combat increasing stroke levels, obesity, diverticulitis, and irritable bowel syndrome has increased. Prebiotics are progressively being included in regular consumer diets to increase immunity and digestion while promoting other bodily benefits.

germany_functional_food_market_revenue

Source: Hoovers, Factiva, ICIS, Nutraceuticals World, Food Navigator, Journal of Functional Foods, Company Annual Reports, Company websites, Grand View Research

On both an international and European scale, the full Nutraceuticals Market report looks in detail at the functional food market. In our series of articles around this pivotal report you can also read summaries of the market overview and the other two key products covered; dietary supplements and functional beverage. 

“Euromonitor says that within the health and wellness category, ‘naturally healthy’ is still leading the pack. That’s totally logical. If nature provides a solution, why not use it? For the industry, that means concentrating on natural alternatives as much as possible, even if the artificial counterpart is sometimes easier to process.” - Julien Bonvallet, Brand Manager Food Ingredients Global

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