This report covers the present scenario and the growth prospects of the g-lobal Functional Foods and Beverages market for the period 2014-2018.
Expected to be worth USD 176.7 billion by 2013, the functional food and beverage industry is booming. It presently accounts for more than 5% of the overall food market. A set of factors like lifestyle trends, product sales, perception of consumers about these functional food and beverages with health benefits are currently driving the growth of the market. All set to continue influencing the mainstream food industry as customers seek healthier options, the industry is anticipated to grow at a CAGR of 5.21% in the period between 2013 and 2018.
This report, Global Functional Foods and Beverages Market 2014-2018, covers the present market scenario and the growth prospects. With focus on the North America, APAC, Europe and ROW, the report also discusses the key vendors of the market.
Major drivers for market growth
In the past few years, the market has witnessed a dramatic rise in health problems such as diabetes, obesity, allergies and digestive disorders in the overall global population. People have since then become health-conscious and are following healthy trends like safe diets to prevent or reduce these disorders or problems. Most health-conscious consumers seek low-calorie as well as balanced diets, which contain all the essential nutrients. Therefore, healthy eating habits have simultaneously increased the demand for health food products and drinks that are fueling the growth of the global functional food and beverage industry.
Market experts think that the functional food industry is unique for the market experienced growth even during the global economic recession despite having a high (about 80%) failure rate for new products. The demand for functional food and beverage exists, but major brands are still missing the mark when it comes to a successful launch. Despite the growing awareness about the products, the threat of contamination in ingredients and raw materials because of improper storage and handling is affecting the growth of the market in an adverse manner.
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