The global market for functional foods and beverages is increasing. It is estimated that it will reach a value of 364,180 million dollars in 2024, this figure will double in 2032 to reach 793,600 million dollars, according to a report by Fortune Business Insights, the market research analysis firm. .
The growing demand for foods with added value responds to the need to combat the negative effects of a modern lifestyle, characterized by a sedentary lifestyle and an unhealthy diet that has caused the increase in diseases such as diabetes, obesity and heart conditions.
The World Obesity Atlas 2023 predicts that by 2035, more than half of the world’s population, or 4 billion people, will be obese or overweight. The annual cost of treating conditions related to this disease will reach $4 billion.
“As an increasing proportion of the population faces health challenges, interest in products that provide functional benefits is growing,” quotes the Institute of Food Technologists (IFT) in an article, a global organization that promotes the advancement of food science.
This is reflected in consumer preferences, with just over half of consumers globally choosing foods to improve daily performance, mood, mental well-being and good sleep, according to HealthFocus.
Given this trend, adds the IFT, more than 50 percent of food companies in the United States are reformulating their products to offer health benefits. 22 percent plan to do so in the next two years.
Functional trends that mark this 2024
As the preference for functional foods gains ground among the adult and young population, new trends appear with food options reduced in added sugars, sodium, and vitamins and minerals to maintain a healthy lifestyle.
For this reason, the IFT presents the five trends that will prevail in this market this year.
1. Products designed to improve daily performance
Hydration, performance and energy boosters were the top-selling functional ingredient categories across multi-point-of-sale channels in 2023.
While the ingredients that grew the most were protein, caffeine, creatine, B vitamins, multiminerals, guarana, the amino acid theanine and probiotics.
2. Drinks and foods that protect the heart
The need to keep the heart healthy continued to drive food and beverage sales. Sales of these products amounted to more than $6 billion across multi-point-of-sale channels in 2023.
Meanwhile, sales of low-sodium foods and beverages increased 6 percent last year; Sales of products with very low sodium content increased 8 percent.
3. Foods enriched with vitamins and minerals
According to the Hartman Wellness Report, seven in ten consumers actively seek out these products and are willing to pay more for them.
This trend is reflected in purchasing decisions, as 44 percent of consumers opt for yogurts fortified with protein or vitamins, 40 percent choose fortified juices and 22 percent prefer spreads high in omega-3, according to data from Nutrition Business Journal.
The International Food Information Council says that two-thirds of consumers try to eat more protein, six in 10 more fiber and vitamin D, half more calcium and vitamin B12, and four in 10 more potassium, iron and folic acid.
“While consumers get most of their protein and fiber from food, most of their vitamin D, vitamin B12 and folic acid come from supplements, which represents a missed opportunity for food product developers,” he highlights. the IFT.
4. Foods for healthier aging
Mental health has become the top concern for American consumers of all ages, surpassing even overall physical health, according to HealthFocus.
Maintaining overall physical health and the ability to continue normal activities as people age rank second and third in the global trend of people pursuing a healthy lifestyle. Heart health ranks fourth. The younger generation, between 18 and 29 years old, shows the greatest concern about these issues.
Therefore, foods and drinks that stimulate the immune system and muscle health achieved higher sales last year and are positioned among the main preferences of the population.
5. Conscious sustainable purchasing decisions
Sales of products carrying pasture-raised and grass-fed labels have increased.
According to Nutrition Business Journal, four out of ten consumers point to the lack of responsibly sourced ingredients as a barrier to increasing consumption of these types of products.
While a third of consumers believe that foods made with ingredients produced with regenerative agricultural practices are more nutritious than those obtained conventionally.
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