The functional foods market was valued at US$ 233,620.18 million in 2021 and is projected to reach US$ 418,439.42 million by 2028. It is expected to grow at a CAGR of 8.7% from 2021 to 2028.

Functional foods are foods that provide health benefits in addition to nutritional value. The category includes foods fortified with vitamins, minerals, probiotics, and fiber, as well as nutrient-rich ingredients, including fruits and vegetables. The surging demand for nutrient-enriched food drives the functional foods market.

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.

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Based on product type, the functional foods market is segmented into bakery and confectionery, dairy and frozen desserts, sweet and savory snacks, breakfast cereals, and others. Based on category, the functional foods market is segmented into organic and conventional. In terms of distribution channel, the functional foods market is segmented into supermarkets and hypermarkets, convenience stores, online retail, and others. Based on geography, the functional foods market is segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America (SAM).

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The key players operating in the functional foods market include Unilever; Clif Bar & Company.; Laird Superfood; Abbott; Danone S.A.; GENERAL MILLS, INC.; HILDUR; Nestlé;  Kellogg Company; and Good Source Foods, LLC. These players are engaged in developing innovative products to meet the emerging consumer trends. Moreover, they are involved in mergers & acquisitions, business expansion, and partnerships to expand their market share globally.

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