The global functional foods market is expected to reach USD 255.10 billion by 2024, according to a new report by Grand View Research, Inc. Growing geriatric population, healthcare costs, consumers ‘consciousness towards their well-being, and changing lifestyle is expected to drive the functional foods market growth over the forecast period. These foods have the ability to combat various diseases progression and provide promising health benefits to individuals.
Fish oils which contain long-chain omega-3 fatty acids are categorized as a functional food that helps in reduction of cardiovascular diseases and lowers the total cholesterol level. Yogurt, which has lactobacillus bacteria, contributes to improving the quality of intestinal microflora.
However, the functional food is mostly attributed to possess “credence attributes” that is the product attributes cannot be claimed directly by the consumers. Such a factor is expected to critically affect the global industry over the forecast period.
Labeling on a product might claim that it constitutes extra dosage of calcium, which helps in preventing osteoporosis disease. However, consumers are unable to evaluate such claims as the nutrients cannot be smelled or tasted and do not have any proper shape. Consumers need to wait for a particular period to validate the credence claims.
The benefits claimed for functional foods by manufacturers slowly arrive on the plates of the consumers. Speeding the health benefit arrival requires more innovative approaches and also funding to expand the knowledge base associated with molecular nutrition.
Source: Grand View Research, Inc.