A steady increase in life expectancy and greater attention to quality has been witnessed in the past few decades. Consumers are becoming increasingly concerned about their health and are paying more attention to their lifestyles and dietary habits. Countries worldwide are undergoing a nutritional transition and face the dual burden of nutritional problems. According to the World Health Organization (WHO), undernutrition and specific nutrient deficiencies remain major challenges, with imbalanced diets and chronic diseases simultaneously becoming alarmingly common. Moreover, with rising obesity rates, an aging population, an increase in sedentary lifestyles, and growing consumer interest in health and nutrition, the demand for functional food and beverages is also increasing across developing countries.
In recent years, consumer awareness regarding health, nutritional enrichment, calorie reduction, and food safety has grown, especially in developed countries and high-income groups of developing countries, which is expected to transform the food & beverage industry and boost the growth of the functional food and beverages market. Factors such as government initiatives to educate the rural population on nutrition, the increasing working population, and the availability of limited time for food preparation have increased the demand for functional food and beverages. The growing understanding of the importance of a proper diet and the young generation’s growing inclination towards fitness are also factors that drive the demand for functional food and beverages.
Furthermore, the prevalence of chronic diseases and conditions such as diabetes, arthritis, and heart disease are on the rise globally. According to World Health Organization (WHO), in 2022, non-communicable diseases (NCDs) accounted for 41 million deaths, which is equivalent to 74% of all deaths globally. Cardiovascular diseases accounted for 17.9 million deaths annually, followed by cancers (9.3 million), chronic respiratory diseases (4.1 million), and diabetes (2.0 million) deaths. Nutrition and diet are the mainstays for the maintenance and promotion of good health throughout the entire life course. Chronic diseases are largely preventable, with dietary modification over expensive treatments. Functional food and beverages help prevent many diseases and provide essential nutrients to humans. Hence, with the rising chronic disease burden, the demand for functional food and beverages is growing, fueling the growth of the functional food and beverages market.
The changing lifestyle and rise in incidences of chronic diseases have increased the demand for functional food and beverages that support better health, especially low-fat, cholesterol, protein-rich, and weight-control products. Also, all-natural and clean-label trends within the food and beverage market are expected to increase the demand for functional food and beverages.
The functional food and beverages market is expected to register a CAGR of 8.9% in the next seven years to be valued at $532.98 billion by 2030, according to the latest publication of Meticulous Research®.
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