North America Functional Foods Market Forecast to 2028 – COVID-19 Impact and Analysis – by Product Type (Bakery and Confectionery, Dairy and Frozen Desserts, Sweet and Savory Snacks, Breakfast Cereals, and Others), Category (Organic and Conventional), and Distribution Channel (Supermarkets and Hypermarkets, Convenience Stores, Online Retail, and Others)
The functional foods market in North America is expected to grow from US$ 59,783.40 million in 2021 to US$ 105,070.14 million by 2028; it is estimated to grow at a CAGR of 8.4% from 2021 to 2028.
The market has expanded rapidly after the onset of the pandemic. As customers become more health-conscious, there is a greater need for nutritional yet tasty snacks. Various varieties of nutritious snacks derived from natural and plant-based ingredients are lining the shelves as the industry grows gradually. Further, increased disposable income and corporate culture of long working hours, leading to hectic lifestyles, have resulted in a change in eating habits, notably resulting in increased snacking. However, traditionally, snacks are considered unhealthy due to their high oil and sugar content. Snack items are significant contributors to obesity, high blood sugar, hypertension, and other health issues. Moreover, due to recent changes in consumer behavior, snack businesses are shifting away from oily-spicy snacks toward healthier, sugar-free, nutrient-rich, and low-oil variants packaged in small quantities. Furthermore, these food products are typically high in important nutrients, including vitamins, minerals, healthy fats, and fiber. New-age consumers seek nutritious, on-the-go, and affordable snacking options that suit their daily nutritional demands while appealing to their taste buds. Consumers are interested in functional snacks, particularly in the form of bars and meal replacement foods, for energy, focus, and comfort. Furthermore, incorporating a personalized nutrient premix into a snack food is an effective strategy to incorporate beneficial nutrients, such as omega-3 fatty acids, vitamins, and minerals. Functional snacks fill the stomach and provide a longer-lasting cure to hunger. These ingredients supply the building blocks that the body requires while eating nutrient-dense foods. Thus, the rising demand for healthy snacking is the key future trend in the functional foods market.
North America Functional Foods Market Revenue and Forecast to 2028 (US$ Million)
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North America Functional Foods Market Segmentation
The North America functional foods market is segmented on the basis of product type, category, distribution channel, and country. Based on product type, the market is segmented into bakery and confectionery, dairy and frozen desserts, sweet and savory snacks, breakfast cereals, and others. In 2020, the dairy and frozen desserts segment held the largest share of the North America functional foods market. Based on category, the market is segmented into organic and conventional. In 2020, the conventional segment held a larger market share. Based on distribution channel, the North America functional foods market is segmented into supermarkets and hypermarkets, specialty stores, online retail, and others. In 2020, the supermarkets and hypermarkets segment held the largest share of the North America functional foods market. Further, based on country, the North America functional foods market is segmented into the US, Canada, and Mexico. The US contributed a substantial share to the regional market in 2020.
Abbott; Clif Bar & Company; Danone S.A.; GENERAL MILLS, INC; Good Source Foods, LLC; Kellogg Company; Laird Superfood; Nestlé SA; and Unilever PLC are among the leading companies in the North America functional foods market.
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Scope of the Study
3.2 Research Methodology
3.2.1 Data Collection:
3.2.2 Primary Interviews:
3.2.3 Hypothesis Formulation:
3.2.4 Macro-economic Factor Analysis:
3.2.5 Developing Base Number:
3.2.6 Data Triangulation:
3.2.7 Country Level Data:
4. North America Functional Foods Market Landscape
4.1 Market Overview
4.2 Porter's Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Buyers
4.2.3 Threat of New Entrants
4.2.4 Competitive Rivalry
4.2.5 Threat of Substitutes
4.3 Expert Opinion
4.4 Ecosystem Analysis
5. North America Functional Foods Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Surging Demand for Nutrient Enriched Food
5.1.2 Rise In Incidences of Chronic Diseases
5.2 Market Restraints
5.2.1 Higher Prices of Functional Foods
5.3 Market Opportunities
5.3.1 Rising new Product Development
5.4 Future Trends
5.4.1 Rising Demand for Healthy Snacking
5.5 Impact Analysis of Drivers and Restraints
6. Functional Foods – North America Market Analysis
6.1 North America Functional Foods Market Overview
6.2 North America Functional Foods Market –Revenue and Forecast to 2028 (US$ Million)
7. North America Functional Foods Market Analysis – by Product Type
7.1 Overview
7.2 North America Functional Foods Market, by Product Type (2020 and 2028)
7.3 Bakery and Confectionery
7.3.1 Overview
7.3.2 Bakery and Confectionery: North America Functional Foods Market – Revenue and Forecast to 2028 (US$ Million)
7.4 Dairy and Frozen Desserts
7.4.1 Overview
7.4.2 Dairy and Frozen Desserts: North America Functional Foods Market – Revenue and Forecast to 2028 (US$ Million)
7.5 Sweet and Savory Snacks
7.5.1 Overview
7.5.2 Sweet and Savory Snacks: North America Functional Foods Market – Revenue and Forecast to 2028 (US$ Million)
7.6 Breakfast Cereal
7.6.1 Overview
7.6.2 Breakfast Cereals: North America Functional Foods Market – Revenue and Forecast to 2028 (US$ Million)
7.7 Others
7.7.1 Overview
7.7.2 Others: North America Functional Foods Market – Revenue and Forecast to 2028 (US$ Million)
8. North America Functional Foods Market Analysis – by Category
8.1 Overview
8.2 North America Functional Foods Market, by Category (2020 and 2028)
8.3 Organic
8.3.1 Overview
8.3.2 Organic: North America Functional Foods Market – Revenue and Forecast to 2028 (US$ Million)
8.4 Conventional
8.4.1 Overview
8.4.2 Conventional: North America Functional Foods Market – Revenue and Forecast to 2028 (US$ Million)
9. North America Functional Foods Market Analysis – by Distribution Channel
9.1 Overview
9.2 North America Functional Foods Market, by Distribution Channel (2020 and 2028)
9.3 Supermarkets and Hypermarkets
9.3.1 Overview
9.3.2 Supermarkets and Hypermarkets: North America Functional Foods Market – Revenue and Forecast to 2028 (US$ Million)
9.4 Convenience Stores
9.4.1 Overview
9.4.2 Convenience Stores: North America Functional Foods Market – Revenue and Forecast to 2028 (US$ Million)
9.5 Online Retail
9.5.1 Overview
9.5.2 Online Retail: North America Functional Foods Market – Revenue and Forecast to 2028 (US$ Million)
9.6 Others
9.6.1 Overview
9.6.2 Others: North America Functional Foods Market – Revenue and Forecast to 2028 (US$ Million)
10. North America Functional Foods Market– Country Analysis
10.1 North America: Functional Foods Market
10.1.1 North America: Functional Foods Market, by Key Country
10.1.1.1 US: Functional Foods Market–Revenue and Forecast to 2028 (USD Million)
10.1.1.1.1 US: Functional Foods Market, by Product Type
10.1.1.1.2 US: Functional Foods Market, by Category
10.1.1.1.3 US: Functional Foods Market, by Distribution Channel
10.1.1.2 Canada: Functional Foods Market–Revenue and Forecast to 2028 (USD Million)
10.1.1.2.1 Canada: Functional Foods Market, by Product Type
10.1.1.2.2 Canada: Functional Foods Market, by Category
10.1.1.2.3 Canada: Functional Foods Market, by Distribution Channel
10.1.1.3 Mexico: Functional Foods Market–Revenue and Forecast to 2028 (USD Million)
10.1.1.3.1 Mexico: Functional Foods Market, by Product Type
10.1.1.3.2 Mexico: Functional Foods Market, by Category
10.1.1.3.3 Mexico: Functional Foods Market, by Distribution Channel
11. Company Profiles
11.1 Unilever PLC
11.1.1 Key Facts
11.1.2 Business Description
11.1.3 Products and Services
11.1.4 Financial Overview
11.1.5 SWOT Analysis
11.1.6 Key Developments
11.2 Clif Bar & Company.
11.2.1 Key Facts
11.2.2 Business Description
11.2.3 Products and Services
11.2.4 Financial Overview
11.2.5 SWOT Analysis
11.2.6 Key Developments
11.3 Laird Superfood
11.3.1 Key Facts
11.3.2 Business Description
11.3.3 Products and Services
11.3.4 Financial Overview
11.3.5 SWOT Analysis
11.3.6 Key Developments
11.4 Abbott
11.4.1 Key Facts
11.4.2 Business Description
11.4.3 Products and Services
11.4.4 Financial Overview
11.4.5 SWOT Analysis
11.4.6 Key Developments
11.5 Danone S.A.
11.5.1 Key Facts
11.5.2 Business Description
11.5.3 Products and Services
11.5.4 Financial Overview
11.5.5 SWOT Analysis
11.5.6 Key Developments
11.6 GENERAL MILLS, INC.
11.6.1 Key Facts
11.6.2 Business Description
11.6.3 Products and Services
11.6.4 Financial Overview
11.6.5 SWOT Analysis
11.6.6 Key Developments
11.7 Nestlé SA
11.7.1 Key Facts
11.7.2 Business Description
11.7.3 Products and Services
11.7.4 Financial Overview
11.7.5 SWOT Analysis
11.7.6 Key Developments
11.8 Kellogg Company
11.8.1 Key Facts
11.8.2 Business Description
11.8.3 Products and Services
11.8.4 Financial Overview
11.8.5 SWOT Analysis
11.8.6 Key Developments
11.9 Good Source Foods, LLC
11.9.1 Key Facts
11.9.2 Business Description
11.9.3 Products and Services
11.9.4 Financial Overview
11.9.5 SWOT Analysis
11.9.6 Key Developments
12. Appendix
12.1 About The Insight Partners
12.2 Word Index
LIST OF TABLES
Table 1. North America Functional foods Market –Revenue and Forecast to 2028 (US$ Million)
Table 2. US Functional Foods Market, by Product Type – Revenue and Forecast to 2028 (USD Million)
Table 3. US Functional Foods Market, by Category – Revenue and Forecast to 2028 (USD Million)
Table 4. US Functional Foods Market, by Distribution Channel – Revenue and Forecast to 2028 (USD Million)
Table 5. Canada: Functional Foods Market, by Product Type – Revenue and Forecast to 2028 (USD Million)
Table 6. Canada Functional Foods Market, by Category Revenue and Forecast to 2028 (USD Million)
Table 7. Canada Functional Foods Market, by Distribution Channel – Revenue and Forecast to 2028 (USD Million)
Table 8. Mexico Functional Foods Market, by Product Type – Revenue and Forecast to 2028 (USD Million)
Table 9. Mexico Functional Foods Market, by Category – Revenue and Forecast to 2028 (USD Million)
Table 10. Mexico Functional Foods Market, by Distribution Channel – Revenue and Forecast to 2028 (USD Million)
Table 11. List of Abbreviation
LIST OF FIGURES
Figure 1. North America Functional Foods Market Segmentation
Figure 2. North America Functional foods Market Segmentation – By Country
Figure 3. North America Functional Foods Market Overview
Figure 4. North America Functional Foods Market: By Product Type
Figure 5. North America Functional Foods Market: By Country
Figure 6. Porter's Five Forces Analysis
Figure 7. Expert Opinion
Figure 8. North America Functional Foods Market Ecosystem
Figure 9. North America Functional Foods Market Impact Analysis of Drivers and Restraints
Figure 10. North America Functional Foods Market – Revenue and Forecast to 2028 (US$ Million)
Figure 11. North America Functional Foods Market Revenue Share, by Product Type (2020 and 2028)
Figure 12. Bakery and Confectionery: North America Functional Foods Market – Revenue and Forecast to 2028 (US$ Million)
Figure 13. Dairy and Frozen Desserts: North America Functional Foods Market – Revenue and Forecast to 2028 (US$ Million)
Figure 14. Sweet and Savory Snacks: North America Functional Foods Market – Revenue and Forecast to 2028 (US$ Million)
Figure 15. Breakfast Cereals Snacks: North America Functional Foods Market – Revenue and Forecast to 2028 (US$ Million)
Figure 16. Others: North America Functional Foods Market – Revenue and Forecast to 2028 (US$ Million)
Figure 17. North America Functional Foods Market Revenue Share by Category (2020 and 2028)
Figure 18. Organic: North America Functional Foods Market – Revenue and Forecast to 2028 (US$ Million)
Figure 19. Conventional: North America Functional Foods Market – Revenue and Forecast to 2028 (US$ Million)
Figure 20. North America Functional Foods Market Revenue Share by Distribution Channel (2020 and 2028)
Figure 21. Supermarkets and Hypermarkets: North America Functional Foods Market – Revenue and Forecast to 2028 (US$ Million)
Figure 22. Convenience Stores: North America Functional Foods Market – Revenue and Forecast to 2028 (US$ Million)
Figure 23. Online Retail: North America Functional Foods Market – Revenue and Forecast to 2028 (US$ Million)
Figure 24. Others: North America Functional Foods Market – Revenue and Forecast to 2028 (US$ Million)
Figure 25. North America: Functional Foods Market, by key Country– Revenue (2020) (US$ Million)
Figure 26. North America: Functional Foods Market Revenue Share, by Key Country (2020 and 2028)
Figure 27. US: Functional Foods Market–Revenue and Forecast to 2028 (USD Million)
Figure 28. Canada: Functional Foods Market–Revenue and Forecast to 2028 (USD Million)
Figure 29. Mexico: Functional Foods Market–Revenue and Forecast to 2028 (USD Million)
- Abbott
- Clif Bar & Company
- Danone S.A.
- GENERAL MILLS, INC
- Good Source Foods, LLC
- Kellogg Company
- Laird Superfood
- Nestlé SA
- Unilever PLC
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the North America Functional Foods Market.
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the North America Functional Foods Market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth North America market trends and outlook coupled with the factors driving the Functional Foods Market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution