Portland, OR, May 31, 2021 (GLOBE NEWSWIRE) — According to the report published by Allied Market Research, the global functional food market generated $177.77 billion in 2019, and is expected to garner $267.92 billion by 2027, witnessing a CAGR of 6.7% from 2021 to 2027. The report provides an extensive analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.
Increase in demand for functional food in developing nations, surge in consumption of natural sports drinks, and changes in lifestyle and food habits drive the growth of the global functional food market. However, availability of healthier substitutes along with stringent regulations and international quality standards hinder the market growth. On the other hand, rise in investments by small- & mid-sized food product manufacturing companies and rapid rise of the retail sector present new opportunities in the market.
Get Detailed Covid 19 Impact on Functional Food Market @ https://www.alliedmarketresearch.com/request-for-customization/5316?reqfor=covid
Covid-19 Scenario:
- Production of functional food hindered due to lockdown imposed by governments in many countries. In addition, transportation restrictions limited the supply of different products.
- The demand for applications such as sport nutrition, cardio health, and clinical nutrition increased during the pandemic as the focus on health and nutrition rose among people.
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