The global functional food and natural health products market is expected to grow at a CAGR of 5.1% during the forecast period and top valuation of US$ 37.5 bn by 2032.
As of 2022, the functional food and natural health products market is valued at US$ 22.4 bn.
The protein trend is on the rise throughout the world. People across age groups have started realizing the importance of protein, as a result of which the demand for functional food and natural health products is expected to surge.
Furthermore, functional food and natural health products possess anti-aging properties. Additionally, these also assist in weight reduction and have also been effective in the treatment of many health-related problems. This is also expected to increase the sales of functional food and natural health products during the forecast period.
Additionally, functional food and natural health products are used to manufacture more advanced forms of extruded snacks and chips.
However, the manufacturers are the ones who are all guns blazing as far as spreading the USP of the product is concerned. On this front, they are using various marketing strategies to promote awareness about the product.
Apart from that, the manufacturers are leaving no stone unturned to develop top-quality products which comply with all the standards that the food authorities have set across the world. This as well is expected to drive the functional food and natural health products market.
One of the most important aspects of this sector is that it plays a pivotal role in contributing to the economy’s growth, especially in developing countries.
Thus, from the insights presented by FMI, it can be inferred that a number of health benefits, coupled with intense strategies adopted by the manufacturers and many other factors, are expected to drive the functional food and natural health products market.
Key Takeaways
- The functional food and natural health products market is expected to grow at a CAGR of 5.1% during the period 2022-2032.
- The functional food and natural health products market holds a valuation of US$ 22.4 bn as on 2022.
- By 2032, the functional food and natural health products market is expected to be valued at US$ 37.5 bn.
- North America is the largest functional food and natural health products market with a share of 30% as on 2021.
- Asia Pacific is the fastest growing market.
- USA is the dominant force in the North American functional food and natural health products market, with a share of nearly 84% in the North American market in 2022.
- Germany is leading the European functional food and natural health products market, with a share of 17% in 2022.
- India is the leading region in the South Asian market, with a share of 32% in South Asia.
- Based on the nature, the conventional food has the largest market share of nearly 87.4% in 2022.
- Based on the product type, the functional food segment has the largest market share of 56% in 2022.
Key manufacturers of functional foods and natural health products are continuously getting involved in the merger and acquisition activities. These merger and acquisition activities are helping the manufacturers to increase their presence in the untapped market and also to increase their current product portfolio.
For Instance –
- In July 2022, General Mills announced the sale of Helper and Suddenly Salad Businesses
- In September 2022, Pepsico and ADM announced an agreement aiming to reduce carbon intensity by supporting regenerative agriculture practices on nearly 2 million acres of farmland.
Key Companies Profiled
- General Mills
- ADM
- Bremner Foods Ltd.
- Cargill Inc.
- GFR Pharma
- Omega Nutrition Canada
- Eurofins Experchem Laboratories
- Aroma Borealis
- Amway
- Herballife
- DPA Industries Inc.
Functional Food and Natural Health Products Market by Category
By Nature:
- Organic
- Conventional
By Product Type:
- Functional Food Product
- Bakery & Confectionery
- Dairy
- Fish & Eggs
- Canola-based
- Pulses-based
- Hemp-based
- Flax-based
- Oats-based
- Barley-based
- Soy
- Oils & Fats
- Others
- Natural Health Product
- Probiotics
- Proteins & Amino Acids
- Phytochemical & Plant Extracts
- Prebiotics
- Fibers & Specialty Carbohydrates
- Omega-3 Fatty Acids
- Carotenoids
- Natural Vitamins
- Natural Minerals
Pets Galores 