Market Research Future adds new report of “Global Natural Functional Food Market Research Report- Forecast till 2023” it contains Company information, geographical data and Table of Content
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.
The 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. Increasing prevalence of chronic diseases is enforcing consumers to shift towards healthy and nutritional food consumption. Additionally, the advancement in product development coupled with the technological advancement is considered to be one of the significant reasons for the rising growth of natural functional food during the review period of 2017-2023.
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- Asia Pacific dominates the natural functional food market followed by North America
- Asia Pacific accounts for approximately 35% of the market share in the natural functional food market and is expected to witness above average growth rate during the forecast period of 2017-2023.
- Natural functional food have been segmented on the basis of Product Types, which comprises of carotenoids, dietary fibers, minerals, fatty acids, vitamins, and prebiotics & probiotics.
- Natural functional food market has been segmented on the basis of Applications, which comprises of bakery & cereals, dairy products, frozen & chilled foods, soy products, and others.
- Natural functional food market has been segmented on the basis of Distribution Channel such as store based and non-store based. Store based distribution channel has been sub-segmented into supermarkets & hypermarkets, convenience stores, specialist retailers, and others.
Some of the key players profiled in the global natural functional food market are
- General Mills, Inc. (U.S.)
- Nestlé (Switzerland)
- Danone SA (France)
- Abbott Laboratories Inc. (U.S.)
- Kraft Heinz Foods Company (U.S.)
- Kellogg Co. (U.S.)
- GlaxoSmithKline plc (U.K.)
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- Natural functional food manufacturers
- Raw material suppliers
- End users (food industry)
- Retailers and wholesalers
- E-commerce companies
- Traders, importers and exporters
The global natural functional food market is segmented into North America, Europe, 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.
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. Europe is also estimated to account for 25% the global natural functional food market in the year of 2017.
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