Function-Foods-Nutraceuticals Market -2013The global market is therefore estimated to rise from $168 billion in 2013 to over $305.4 billion in 2020, with a CAGR growth of around 8.5% in the forecast period of 2013 – 2020.Functional Foods are in the forefront of growth in the food business for the past few years. Foods, Beverages and Supplements which are enriched or enhanced with ingredients to provide more than the basic nutrition are termed as Functional Products or Foods. These are consumed as a part of daily diet according to consumer’s taste and preference. In the next five years, this market has the added benefit of consumer demand for healthier products. The global market is therefore estimated to rise from $168 billion in 2013 to over $305.4 billion in 2020, with a CAGR growth of around 8.5% in the forecast period of 2013 – 2020.
Functional foods are also consumed for specific health benefits. Weight management, mood enhancement, energy enhancement, beauty treatments are some of the top health benefits. The ingredients used in the products to make it functional are wide and diverse. The top ingredients being probiotics, fatty acids, immune compounds, weight management compounds and so on.
To browse Table of Contents & Insights click below
http://industryarc.com/Report/99/functional-food-market.html
Consumer demand for healthier products is both a market driver and restraint. This is due to the fact that consumers in different regions opt for products according to their preference and taste; and there is little chance of a consumer trying different flavors or ingredients when it comes to one’s own health. Therefore companies have to change the ingredients, flavors, volume of the products according to the need of the consumer. The regulatory scenario varies by country, which needs to be taken into consideration while introducing a new concept. Regulations in the Americas and Europe markets are monitored by the FDA and EFSA respectively. Emerging markets like Africa, Russia, and Australia have their own standards to approve these products.
The Competitive Landscape:
The growth of the market is mainly due to the consumer shift towards healthier, natural and convenient products. The consumer tendency to stay fit and healthy to cut down on medical costs is also a major driver. Convenience along with the taste is going to be the biggest trend in the market. The products which follow both are expected to grow hugely. Global top companies like Pepsi Co., Coca Cola Co., Kellogg’s and several others are into this market. According to IndustryARC, Pepsi holds the larger share of around 28% in the market in 2013.
North America is the top region in terms of growth and is expected to hold the same in the market after five years. Asia-Pacific and Africa are potential regions where the market is estimated to nearly double by 2020.
Request for the sample data/brochure:
http://industryarc.com/request-a-call.aspx?type=report&cid=99
About Us: IndustryARC is a research and consulting firm that publishes more than 20 reports every month in various industries, such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food & Beverages, Information Technology, Life sciences & Healthcare. Contact us to find out how we can help you today!
Media Contact
Company Name: IndustryARC
Contact Person: Sanjay Matthews
Email: Send Email
Phone: 1-614-588-8538 (Ext-102)
Country: United States
Website: http://www.industryarc.com
Source: www.abnewswire.com
