Functional Food and Beverages Market to Rise at 8.49% CAGR till 2026; Increasing Health Awareness in Urban Areas to Fuel Market Expansion: Fortune…

Pune, April 07, 2020 (GLOBE NEWSWIRE) -- The global functional foods and beverages market size is projected to reach USD 412.22 million by 2026, exhibiting a CAGR of 8.49% during the forecast period. Increasing malnutrition worldwide will be the primary growth driver for this market in the near future, shares Fortune Business Insights in its new report, titled Functional Foods and Beverages Market Size, Share & Industry Analysis, By Type (Cereals & Grains, Fats & Oils, Dairy Products, Bakery Products, and Other Functional/Fortified Foods) Distribution Channel (Supermarkets/Hypermarkets, Convenience Stores, Online Retail, and Others), and Regional Forecasts, 2019 2026.

According to the World Health Organization (WHO), close to 462 million people are underweight and 52 million children under the age of 5 are suffering from wasting. Moreover, roughly 45% of deaths among children below 5 years of age occur due to under-nutrition. As a result, governments have spurred into action in both developed and developing countries. For instance, in 2019, the UK government made it mandatory to fortify flour with folic acid to prevent occurrence of congenital disabilities in children. Similarly, in July 2019, the Indian government announced distribution of rice fortified with folic acid, Vitamin B12, and iron through the Public Distribution System (PDS). The market for functional foods and beverages, thus, stands to gain from these developments.

The functional food and beverages market report states that the value of this market stood at USD 216.25 million in 2018. Other than this, the report contains the following:

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An Overview of the Impact of COVID-19 on this Market:

The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.

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Competitive Landscape

Development of Exciting Products to Stimulate Intense Competition

One of the leading functional food and beverages market trends is the increasing focus of key players on the developing and launching new and exciting products in the market. Not only do these frequent launches help companies solidify their position in the market, but they also periodically realign the overall dynamics of market competition.

List of Key Companies Covered in the Functional Foods and Beverages Market Research Report are:

The Coca-Cola Company

Celsius Holdings, Inc.

PepsiCo, Inc.

Glanbia plc

Nestle S.A.

Arla Foods amba

Hearthside Food Solutions LLC

Tyson Foods, Inc.

General Mills, Inc.

Danone S.A.

Market Driver

High Nutritional Value of Functional Foods to Spike Uptake

The popularity of fortified food and beverages has been steadily climbing in recent years, mainly due to the hectic and unhealthy lifestyles people are leading in urban areas. As a result, there is a growing demand for nutrition-rich food and beverage items fueled by rising health and wellness concerns. Functional foods have emerged as an attractive option for many consumers, given their wide-ranging and long-term benefits.

For example, functional foods and beverages fortified with omega-3 fatty acids can boost brain function, secure heart health, and reduce inflammation. The benefits of functional foods are not limited to just chronic and lifestyle-based disorders; they have proven efficacy in tackling the effects of under-nourishment too. For example, the National Institutes of Health reported that the introduction of wheat flour fortified with iron in Jordan led to 50% reduction in the incidence of iron deficiency anemia among children.

Regional Analysis

Evolving Lifestyles in Asia-Pacific to Aid the Region Register Impressive CAGR

Asia-Pacific is slated to dominate the functional food and beverages market share and grow at a CAGR of 9.20% during the forecast period. The central reason for this rise is the rapidly changing lifestyles of people that are increasing the prevalence of chronic conditions in the region. An example of this is the increasing consumption of fast or junk food. Thus, there is a surging demand for nutritional foods as people are getting more health conscious, especially in India. In addition to foodstuffs, there is also a high demand for functional hydration, particularly in tropical countries where water loss from the body is high. After Asia-Pacific, North America is expected to be the second-largest region for this market, anticipated to register a CAGR of 7.06% in the forthcoming years.

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Detailed Table of Content:

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Industry Developments:

Have a Look at Related Research Insights:

Functional Beverage Market Size, Share & Industry Analysis, By Type (Fortified Juice, Energy Drink, Sports Drink, Dairy-based Beverage, Enhanced Water, Others), By Distribution Channel (Supermarket/Hypermarket, Departmental Stores, Health Stores, Online Stores, Others), and Regional Forecast 2019-2026

Functional Flour Market Size, Share and Global Trend by Source (Rice, Tapioca, Sunflower, Linseed, Lentils, Wheat), Type (Pre-cooked Flour, Fortified Flour, Specialty Flour), Product Type (Additive-based Flour, Conventional Flour, Genetically Modified Flour), Application (Baked Goods, Pasta, Noodles, Soups, Gravies, Sauces), Distribution Channel (B2B, B2C) and Geography Forecast till 2025

Functional Food Ingredients Market Size, Share and Global Trend By Type (Vitamins, Minerals, Prebiotics, Probiotics, Hydrocolloids, Essential Oils, Omega Fatty Acids, Carotenoids), Purpose (Weight Management, Digestive Health, Cardio Health), Application (Beverages, Bakery, Dairy, Snacks) and Geography Forecast till 2026

Functional Mushrooms Market Size, Share & Industry Analysis, By Type (Cordyceps, Reishi, Turkey Tail, Shiitake, Lions Mane, Chaga), By Application (Functional Food & Beverage, Dietary Supplements, Personal Care, Pharmaceuticals) and Regional Forecast, 2019-2026

Functional Water Market Size, Share and Industry Analysis By Ingredient (Micronutrients, Botanical Extracts, Other Functional Ingredients), By Distribution Channel (Supermarkets/Hypermarkets, Convenience Stores, Online Retail, Others), and Regional Forecast 2018-2025

Functional Proteins Market Size, Share & Industry Analysis, By Type (Whey Protein, Casein Protein, Soy Protein, Hemp Protein, Pea Protein, Other Functional Proteins), By Form (Concentrates, Isolates, Hydrolysates), By Application (Dietary Supplements, Functional Foods, Functional Beverages, Animal Nutrition)and Regional Forecast, 2019-2026

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Functional Food and Beverages Market to Rise at 8.49% CAGR till 2026; Increasing Health Awareness in Urban Areas to Fuel Market Expansion: Fortune...