Functional food and nutraceuticals are those food and nutraceuticals to which special ingredients are added so that they provide additional health benefits.
The functional food and beverage segment dominated the market and accounted for more than 60% of the market share. Therefore, to maintain good health and reduce the risk of illnesses, people are increasingly looking to adopt healthy lifestyles and diets. This has increased the demand for functional food and beverages such as breakfast cereals and energy drinks. Moreover, there is a growing demand for plant-based functional foods such as oats, flax seeds, tomatoes, broccoli, citrus fruits, and cranberries as they are perceived to reduce the risk of chronic diseases like cancer. This recent shift in consumer preferences toward healthier food with high fiber will have a positive impact on this market segment over the forecast period.
North America dominated the functional food and nutraceuticals market and accounted for 39% of the total market share. Factors such as rising awareness of the benefits of a healthy diet, affordability and the availability of these products in the region to propel the growth prospects of the functional food market in North America.
The Global Functional Food and Nutraceuticals Market was valued at xxx million USD with a CAGR xx% from 2018-2022. Subsequently, it will touch xxx million USD in 2023 with a CAGR xx % from 2023-2030.

In the global Functional Food and Nutraceuticals Market, This report focuses particularly in North America, South America, Europe and Asia-Pacific, and Middle East and Africa. This report classifies the Market on the basis of application, type, regions, and manufactures.

In Market segmentation by manufacturers, the report covers the following companies-
Nestle
PepsiCo
BASF
Coca-Cola
Kellogg
Abbott Nutrition
Amway
Bayer HealthCare
Danone
GSK
Pfizer
Herbalife
Champion Nutrition
Himalaya Herbal Healthcare
Lovate Health Sciences
Otsuka Holdings
Schiff Nutrition Group
Yakult

In Market segmentation by geographical regions, the report has analysed the following regions-
North America (USA, Canada and Mexico)
Europe (Germany, France, UK, Russia and Italy)
Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
South America (Brazil, Argentina, Columbia etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)

In Market segmentation by types :
Functional Food
Functional Beverage
Dietary Supplement
Other

In Market segmentation by applications :
Supermarkets
Independent Retailers
Specialty Stores
Online Stores

The research provides answers to the following key questions:
• What is the estimated growth rate and Market share and size of the Functional Food and Nutraceuticals Market for the forecast period 2023-2030?
• What are the driving forces in the Functional Food and Nutraceuticals Market for the forecast period 2023-2030?
• Who are the prominent Market players and how have they gained a competitive edge over other competitors?
• What are the Market trends influencing the progress of the Functional Food and Nutraceuticals industry worldwide?
• What are the major challenges and threats restricting the progress of the industry?
• What opportunities does the Market hold for the prominent Market players?
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