According to Stratistics MRC, the Global Functional Foods Market is valued at $1.54 billion in 2015 and is expected to grow at a CAGR of 8.2 % to reach $2.68 million by 2022. Growing health consciousness among public is one of the key factors contributing to the market growth. Furthermore, rise in health care costs and increasing geriatric population is expected to propel the market growth. Growing demand for naturally made nutraceuticals and functional food such as pea-protein is generating ample of opportunities for the market to grow. Manufacturing of products having combined perks with reasonable price is expected to have future growth prospects for global market.
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North America commanded the largest market share and is anticipated to continue its dominance with US as the major market. Constantly growing demand for energy drinks and fortified dairy products is expected to propel the market in the region. Asia Pacific is anticipated to grow at a faster pace owing to growing health consciousness and rising disposable income among consumers. European region is poised to grow at a modest rate due to beleaguered food & beverages industry.
Some of the key players in the Functional Foods Market are Kellogg Company, The Unilever Group, Archer Daniels Midland Company, Cargill, Incorporated, Red Bull GmbH, BASF SE, Ingredion Incorporated, Tate & Lyle PLC, Amway, Kerry Group PLC, Yakult Honsha Co., Ltd. , Associated British Foods PLC, The Coca-Cola Company, General Mills, Inc., E. I. Du Pont De Nemours and Nestlé S.A.
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Constituent Types Covered:
Proteins & AminAcids
Omega 3 & 6 Fatty Acids
Wine and Grapes
Rest of Europe
Rest of Asia Pacific
Rest of the World
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