Europe Functional Food Market

Europe Functional Food Market Growth and Forecast (2023 - 2028):

The Europe Functional Food Market is worth $ xx million in 2022 and is expected to grow to $ xx million by the end of 2028 with a compound annual rate of xx% between 2023 and 2028.

Product Description:

Functional foods are the food which are consumed in order to improve health these type of foods are known as modified foods. It does not cure disease, but it helps reduce the risk of fatal diseases by improving physical health by providing essential nutrients and protein. Functional foods are defined as foods that have a potential positive impact on health beyond basic nutrition. It is gaining considerable popularity in health and wellness circles.

Market Growth:

With the increasing prevalence of chronic diseases, consumers are turning to healthier food consumption which is driving the market for Europe Functional Food during the forecast period 2023 - 2028.

Drivers:

Growing consumer interest and a greater understanding of how a proper diet can boost immunity are some of the key factors driving the growth of the Europe Functional Food market. Among adult consumers, the elderly population is believed to benefit from functional foods due to age-related health-related problems. Additionally, increased consumption of functional foods is driving the Europe Functional Food market growth due to increased disposable income and increased demand for improved food and beverage products. Increased disposable income and increased spending on health and health-related foods are expected to drive growth in the Europe market for functional foods. Increased consumption of nutritious prepared and fortified foods, as well as increased consumption of healthy diets due to increased consumer health awareness, are drivers of the Europe Functional Food market. Additionally, rising obesity, cardiovascular disease, and obesity-related diseases are expected to lead the functional food industry during the forecast period. The driving force in the Europe Functional Food category is innovation in the food industry, driven by increased consumer awareness of nutritional and health values. Rising medical costs have led to the growth of functional foods. The demand is higher in developed countries. A prevalent chronic disease has displaced consumer interest in healthy foods that can boost immunity. The elderly population is expected to benefit from the intake of Europe Functional Food. The growing demand for fortified foods has driven the growth of the Europe Functional Food market. However, the population that will migrate to functional foods will increase. Changes in eating habits have led to health conditions such as obesity, diabetes, heart disease, periodontal disease, and cancer. Consumers use the Internet to find the nutritional value of their food and make informed decisions. Population growth and change in food fashion among people are the main drivers of the Europe Functional Food market. These trends and people's perceptions are conducive to the growth of the Europe Functional Food market. Market share in developed countries is obtained because health-conscious people, such as pregnant women, baby, and the elderly, are primarily aware of the benefits associated with fortified foods and beverages. As the prevalence of chronic diseases increases, consumers must switch to healthier eating habits. Growing consumer interest in the immune effects of a proper diet explains the key factors driving the growth of the Europe market for functional foods. It was believed that the elderly population derives the maximum benefits from Europe Functional Food due to age-related health problems. Furthermore, the growing demand for improved food and beverage products, coupled with higher disposable income, leads to higher intakes of functional foods, which in turn drives the Europe Functional Food market growth. However, the growing population of developing countries was expected to drive Europe Functional Food market growth during the forecast period.

Restraints:

High prices for various functional foods are expected to limit adoption, hampering overall Europe Functional Food market growth during the forecast period. In addition, the slowdown in the regional economy has forced consumers to switch to low-cost products and groceries. Furthermore, food safety and related regulations also limit the Europe Functional Food market growth. Sales of functional foods are growing at a rapid rate and will continue to increase in the future, but economic problems are hampering the growth of the Europe Functional Food market. Additionally, the global economic downturn has forced consumers to switch to cheaper groceries. Additionally, research on consumer perceptions and health claims related to these products is limited. Another factor limiting the demand for Europe Functional Food is food safety issues and regulations. Together, these factors hamper then Europe Functional Food market growth.

Market Segmentation Analysis:

On the basis of Ingredient, the Europe Functional Food market is segmented into carotenoids, dietary fiber, fatty acids, minerals, prebiotics and probiotics, vitamins and others. Dietary fiber, found primarily in fruits, vegetables, whole grains, and legumes, is best known for its ability to prevent or relieve constipation. The prebiotics and probiotics segment is expected to show the fastest growth during the forecast period.

By product, the Europe Functional Food market is segmented into fruits and vegetables, beverages, dairy and others. The dairy segment led the overall market in terms of sales in 2020, followed by the confectionery and cereals segments. Other key product segments include meat, fish and eggs, soy products, fats and oils.

On the basis of application, the Europe Functional Food market is segregated as weight management, sports nutrition, digestive health, immunity, heart health, clinical nutrition, and others. Heart health was an important segment that accounted for 24.2% of the market share in 2020. Due to the increased demand for functional foods in congestive heart failure, atherosclerosis, cardiovascular disease and congenital heart defects. Digestive health is expected to grow to maintain digestive health, especially due to the great interest of men after 40 years and of women in the genitals.

Regional Analysis:

Europe Functional Food market is expected to growth during the forecast period of 2022 - 2027. With the growing awareness of health and fitness in developing countries, the rapid consumption of processed foods is a major driver of the UK regional Functional Food market. The region is characterized by a growing concern for food safety among consumers, which affects consumer behavior and therefore drives the growth of the Spanish Functional Food market. Food improvement is expected to be a key approach for governments to address growing concerns about malnutrition and poverty. This factor is expected to contribute significantly to the growth of the German Functional Food market. Increasing urbanization, increased spending on health products, and awareness of the medical benefits of functional foods are expected to drive growth of the functional foods market in France during the forecast period.

Top Leading Company:

Key players in the Europe Functional Food market include Glanbia PLC, Danone, Mars, Hearthside Food Solutions LLC, Meiji Co., Ltd., Incorporated, Raisio PLC, Nestlé S.A., Sanitarium Health Food Company, Royal frieslandcampina N.V, and The Kraft Heinz Company.