New FMI Report Explores Impact of COVID-19 Outbreak on Functional Foods and Natural Health Products Market
Global functional foods and
natural health products market is set for a healthy 5.3% CAGR during the forecast period
(2019-2029), as projected by a new report of Future Market Insights (FMI).
Leading market players are investing in adoption of vegan and plant based
foods, particularly in emerging economies to capitalize on the global market.
"One-third of the
functional foods and natural health products manufacturers are engaged in
producing innovative products that meet the standards for food-grade material.
They will also increase their focus on technology enhancements," states the FMI report.
Functional Foods and
Natural Health Products Market: Key Findings
- Pulse based functional foods
and natural health products will remain highly preferred, with strong growth
prospects through the forecast period.
- Manufacturers are likely to
focus on product innovations to keep up with relevant trends in the
industry.
- North America and APEJ will
remain major markets displaying a steady rate of growth in the forecast
period.
- Europe will remain at the
forefront of the functional foods and natural health products market.
Functional Foods and
Natural Health Products Market: Key Driving Factors
- Rising consumer demand for
healthy, natural foods is a key driver for the functional foods and
natural health products market.
- Demand for protein-rich
functional snacks are generating substantial profitable opportunities.
- Easier availability of raw
materials and low production costs is driving growth in developing
countries.
- Concerns over the rising
incidences of lifestyle based ailments is a major driver for global demand
for functional foods and natural health products.
Functional Foods and
Natural Health Products Market - Key Restraint
- Lack of standardization in
government regulations associated with functional foods and natural health
products is a key restraint for global manufacturers.
Competition Landscape
of Functional Foods and Natural Health Products Market
Some of the key
players in the global functional foods and natural health products landscape
that are covered in this study include, but are not limited to, Amway, General
Mills, Cargill Inc., GFR Pharma, and Herbalife. Leading manufacturers are
focused on using expansion of product portfolios, with focus on optimizing
sourcing processes. Manufacturers are also seeking agreements with local
players to meet differing consumer needs in varying applications, while
expanding regional footprints.
More About the Report
This Future Market
Insights study of 300 pages offers actionable insights on the functional foods
and natural health products market. The market analysis is based on functional
food product (bakery & confectionary, dairy, fish and eggs, canola based,
pulses-based, hemp based, flax based, oats based, barley based, soy, oils &
fats, and others), natural health product (probiotics, proteins & amino
acids, phytochemical & plant extracts, prebiotics, fibers & specialty
carbohydrates, omega-3 fatty acids, carotenoids, natural vitamins, and natural
minerals), natural health product form (capsules, tablets, soft gels, and
others) across seven regions (Latin America, North America, Europe, APEJ,
Japan, Oceania, and MEA).
About Future Market
Insights (FMI)
Future Market Insights
(FMI) is a leading provider of market intelligence and consulting services,
serving clients in over 150 countries. FMI is headquartered in London, the global financial capital,
and has delivery centers in the U.S. and India. FMI's latest market research
reports and industry
analysis help businesses navigate challenges and take critical decisions with
confidence and clarity amidst breakneck competition.
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