Functional food are fortified, enriched, or enhanced foods that carry a functional property due to the presence of essential nutrients in them. The consumption of functional food helps in providing optimal health as well as reduces the risk of disease.
SURGING DEMAND FOR NUTRIENT-ENRICHED FOOD IS GOING TO INFLUENCE THE FUNCTIONAL FOODS MARKET GLOBALLY
The rising demand for nutrient-enriched food due to hectic lifestyles and expanding consumer awareness of their health benefits is expected to fuel market expansion. In addition, the functional food demand is being driven by an aging population concerned about maintaining health, ever-rising medical costs, and greater consumer interest in the connection between healthier eating and well-being. Further, there is an increasing need for on-the-go snacks containing additional nutrients and immediate nutrition. The rise in consumer interest in nutrition and health has boosted the demand for functional foods. Additionally, consumers choose functional ingredients in meals to minimize the risk of certain health disorders such as obesity, weight control, diabetes, and cardiovascular disease. Furthermore, hectic lifestyles and rising stress levels have contributed to the rise in the occurrence of such health problems. For instance, according to a 2018 study performed by the International Food Information Council, 86% of respondents aged 50 and over want to replace less healthful meals and beverages with more nutrient-dense alternatives. Moreover, various functional food trends, such as the growing demand for hemp-infused meals and beverages, probiotics, and prebiotics, are fueling the market growth.
According to the Hartman Group’s Functional Food & Beverage 2020 Report, 31 percent of consumers are taking more supplements as a result of the pandemic, and 29 percent are consuming more functional foods/beverages. The increasing consumer preference for products that offer both indulgence and health attributes is propelling food manufacturers to use functional foods in their products. Thus, surging demand for nutrient-enriched food is the main factor, driving the functional foods market’s growth.
