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The global functional foods and beverages market size is set to reach USD 412.22 million by 2026 owing to rising prevalence of lifestyle-induced health disorders across the globe. Fortune Business Insights™ shares this analysis in its recent report, titled “Functional Foods and Beverages Market Size, Share & Industry Analysis, By Type (Cereals & Grains, Fats & Oils, Dairy Products, Bakery Products, and Other Functional/Fortified Foods) Distribution Channel (Supermarkets/Hypermarkets, Convenience Stores, Online Retail, and Others), and Regional Forecast, 2019 – 2026”. As per the report, the market value stood at USD 216.25 million in 2018 and is projected to register a CAGR of 8.49% from 2019 to 2026.
Asmara Launches Unique ‘Synbiotic’ Functional Powders
In February 2020, the Singapore-based functional beverages specialist Asmara announced the launch of six functional powder products featuring a combination or symbiosis of prebiotics and probiotics. Boasting of excellent versatility, the powders will be functional in the areas of antioxidants, energy and vitality, immunity, and stress and recognition. More importantly, these products can be used in a wide array of food and beverage preparations, including pastas, soups, and other drinks. Living up to its reputation of bringing together medicinal practices of different cultures, the new powders contain Red Korea ginseng, Peruvian ginseng, American ginseng, and Indian ginseng. Such healthy blend of creativity, functionality, and nutrition by companies is fast-emerging as one of the leading functional foods and beverages market trends.
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Adoption of Modern Processing Techniques to Fuel the Market
Developing fortified food and beverages requires a healthy dose of ingenuity and utilizing modern technology to suit one’s needs. This approach is being increasingly adopted by players in this market as they seek to advance processing technologies to bring out innovative functional foods products for consumers. For example, vacuum impregnation technique, which involves osmotic treatment of food, is becoming a popular choice among food processing companies. Similarly, enzyme technology is deployed for producing specific fatty acids to antioxidant and flavoring esters. Another widely adopted processing mechanism is the encapsulation technology. In 2019, the French natural ingredient producer Robertet used encapsulation technology for developing prebiotic inulin as a carrier for delivering essential oils into powders. Further, this technology also allows storage of probiotics at ambient temperature without loss of viability.
Diverse Strategies Employed by Players to Gain Competitive Edge
The functional foods and beverages market report observes that the structure of this market is reasonably well-consolidated, comprising of an adequate number of companies. These companies, the report highlights, are implementing conventional strategies to further entrench their position in this market. Some of the most noticeable strategies include mergers and acquisitions, collaborations, and substantial investment in research and development activities.
List of Companies Profiled in the Report:
Further Report Findings:
Table of Segmentation
Value (USD Million)
By Distribution Channel