The market for functional foods and natural health products has grown at an exponential rate over the last decade, prompting emerging economies to focus on exports to meet the growing demand of industrialized economies.
From 2023 to 2033, the market for functional foods and natural health products is projected to expand at a CAGR of 5.3%. The market is being pushed by increased health awareness, an increase in the prevalence of chronic diseases, and rising demand for convenient and healthful food and beverage items. The market is being pushed by increased health awareness, an increase in the prevalence of chronic diseases, and rising demand for convenient and healthful food and beverage items.
Growing consumer demand for convenient and healthy food and drink options, greater health consciousness, and an increase in the prevalence of chronic diseases. The global market for functional foods and natural health products is constrained in its expansion by the high cost of research and development. The market for natural health goods, e-commerce, and functional beverages presents prospects in personalized nutrition.
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Drivers and Trends:
Key Takeaways
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Competitive Landscape
Functional foods and natural health products are very competitive, with many big, well-known companies vying for market dominance. In the upcoming years, it is anticipated that the market for functional foods and natural health products will remain extremely competitive. The market is anticipated to expand steadily, but in order for businesses to hold onto their market share, they must be able to adjust to shifting consumer preferences.
Abbott Laboratories:
A leader in the healthcare industry, Abbott produces a variety of natural health products and functional foods, such as Ensure, Boost, and Glucerna.
Archer Daniels Midland (ADM):
Among the functional foods and natural health products produced by Archer Daniels Midland (ADM), a worldwide food processing and commodities trading firm, are Fibre One, SimplySmart, and Truvia.
BASF:
ProActiv, Benecol, and Move Free are just a few examples of the natural health products and functional foods the German chemical corporation BASF produced.
Danone:
Activia, DanActive, and Oikos are just a few of the natural health products produced by the French multinational food and beverage corporation Danone.
Arla Foods:
Skyr, Arla Protein, and Lactofree are just a few of the functional meals and natural health products produced by the dairy cooperative Arla.
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Functional Food and Natural Health Products Market by Category
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Feb 08, 2024