The Functional Foods and Beverages Market in North America is segmented by Product (Functional foods and Functional beverages), Distribution Channel (Offline and Online), and Geography (North America). As per the Global Forecast research report 2024-2028 published by Technavio, the market size is estimated to grow by USD 43.1 million, at a CAGR of 8.38% during the forecast period. There are several companies that are contributing to the market as per this report. Rising awareness of the health benefits of functional foods and beverages .
The functional foods and beverages market in North America is experiencing significant growth, driven by innovative product and ingredient offerings within the functional foods segment. This trend is particularly notable among the aging population, health-conscious adults, and children, who prioritize nutritional requirements. However, market expansion is not without challenges, as stringent government regulations govern the production and supply of functional foods and beverages. Marketers must ensure precise and substantiated health claims to comply with these regulations. Amidst the shift toward healthier alternatives, the demand for functional foods continues to rise in North America.
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In the North American functional foods and beverages market, the United States is expected to dominate with significant growth in 2023, driven by heightened consumer awareness towards outdoor activities and the preference for healthier, nutrient-rich alternatives to dietary supplements. Within the functional beverages segment, functional RTD tea products are projected to capture a substantial market share by 2026 due to increasing consumer demand. However, the market share of pro- and prebiotic drinks, functional fruit and vegetable juices, energy and sports beverages, dairy-alternative beverages, and functional water may decline. This decline is attributed to market saturation in the US, stringent labeling and regulatory requirements, and consumer skepticism regarding the benefits of energy and sports drinks.
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Functional foods and beverages in North America are experiencing significant growth as consumers prioritize health and wellness. Key functional ingredients include carotenoids like Zeaxanthin, Astaxanthin, Lutein, and Beta-carotene, which provide health benefits for eye health and antioxidant properties. Omega-3 fatty acids, fibers, prebiotics, proteins, minerals, vitamins, and amino acids are also popular functional ingredients. Millennials are a major driver of this market, with a preference for convenient, nutrient-dense options. E-commerce is a growing segment, with online sales of functional foods and beverages expected to increase. The retail sector is also adapting, with an emphasis on nutrient-enriched foods, cereals and grains, and fiber-rich snacks like nutritional bars. Functional foods and beverages offer solutions for chronic diseases such as obesity and diabetes. For instance, Omega-3 fatty acids help reduce inflammation and improve heart health, while fiber-rich foods aid in digestion and weight management. The food and agriculture industry is responding with innovative new products, such as carrot juice fortified with Lutein and Astaxanthin, and salmon with added Omega-3s. In conclusion, the North American functional foods and beverages market is thriving, with a focus on functional ingredients like carotenoids, Omega-3s, fibers, and proteins. Millennials and the retail sector are key drivers, and the industry is responding with innovative new products to address health concerns like obesity and diabetes.
According to Technavio, the functional foods and beverages market in North America is classified as part of the global packaged foods and meats market, which falls under the food products segment of the broader food, beverage, and tobacco market. This market encompasses food processing vendors that focus on eliminating microorganisms and extending shelf life. The market's size is determined by the consolidated revenue of the participating vendors, excluding those involved in manufacturing food processing equipment or producing packaged alcoholic and non-alcoholic beverages, such as mineral waters. - The Functional Foods and Beverages Market in North America is experiencing significant growth, fueled by the . Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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