The Functional Food & Beverage Market to Touch $720 Billion by 2031; The key drivers for the markets are Clean-label demand, technological innovations, plant-based proteins, probiotics, personalized nutrition, aging population, chronic disease manage

The Functional Food & Beverage Market size is estimated to reach $720 Billion by 2031, growing at a CAGR of 8.1% during the forecast period 2025-2031, according to a recent report published by IndustryARC, titled, “Functional Food & Beverage Market–By Type (Functional Cereals, Functional Dairy Products, Functional Bakery & Confectionery, Functional Beverages, Others), By Nature (Organic, Conventional), By Ingredients (Prebiotics & Probiotics, Vitamins And Minerals, Proteins And Amino Acids, Botanical Extracts, Dietary Fiber, Others), By Application (Health And Wellness, Weight Management, Sports And Fitness, Medical Nutrition, Digestive Health, Immunity, Others), By Distribution Channel (Offline, Online), And By Geography (Regional Segmentation), By Geography - Opportunity Analysis & Industry Forecast, 2025-2031”

Key market drivers include rising consumer demand for clean-label products, advancements in technological innovations, the shift towards plant-based proteins, growing interest in probiotics, and an increasing focus on personalized nutrition. Additionally, the aging population and heightened awareness around chronic disease management are further propelling growth in the Functional Food & Beverage industry as consumers prioritize health and wellness.

The Asia-Pacific (APAC) region dominated the Functional Food & Beverage market in 2024. The region’s younger, tech-savvy population is driving demand for innovative, convenient and health-focused products. Additionally, the growing prevalence diseases and an aging population drives the demand for functional foods that promote wellness and prevent illnesses. Government initiatives promoting healthy diets and fortified foods are also boosting growth. In November 2024, The Sindh Food Authority (SFA) and the World Food Programme (WFP) signed a memorandum of understanding (MoU) to implement the Fortification of Whole Wheat Flour through Small-Scale Mills project in Sindh, Pakistan. This initiative aims to enhance the nutritional health of vulnerable populations by ensuring access to wheat flour fortified with essential micronutrients.

The growing shift toward flexible eating habits and the rise of snacking as a lifestyle are transforming the food market due to the increasing preference for convenient, on-the-go eating options. Consumers are demanding t healthier snack alternatives like granola bars, popcorn and crackers. This shift is fueled by a growing awareness of the importance of dietary fiber in maintaining digestive health and managing weight. Additionally, innovations in flavor profiles, clean-label ingredients and fortified products have further made snacks as a preferred choice among health-conscious consumers. 

Consumers increasingly shifting towards vegan food choices, significantly driving the functional food and beverage market growth. According to the BMEL Nutrition Report 2024, 39% of all Germans buy vegetarian or vegan alternative products more often. This trend is seen all over the world. As more consumers adopt plant-based lifestyles for health, ethical or environmental reasons, there is a growing demand for vegan food. To ensure, the vegan population get a balanced proportion of nutrients, many manufacturers are turning to fortification. 

• In September 2024 South Korea's Lotte Home Shopping signed an exclusive agreement with Japan's Asahi Group Foods to supply and sell health functional food ingredients in the domestic market, according to the company.Under the deal, Lotte will exclusively import six types of health ingredients developed by Asahi until 2028, using them for new product development and sales. 

• In August 2024, EZZ Life Science has launched four new functional food products, focusing on children’s and adults’ health. The products include EZZ Multi Vitamins Milk Powder, EZZ KidzSure Formulated Nutrition Powder, EZZ Lactoferrin Complex Powder, and EZZ VitalSure Formulated Nutrition Powder. These offerings, manufactured in New Zealand, aim to support growth and development by providing essential nutrients such as vitamins, minerals, and probiotics.

Key companies profiled in the Functional Food & Beverage Market are Nestlé S.A., Danone S.A., PepsiCo, Inc., The Coca-Cola Company, General Mills, Inc., Kellogg’s Company, Unilever, ConAgra Brands Inc., Arla Foods, and Mondelez International Inc

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Mr. Venkat Reddy

IndustryARC

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