Middle East & Africa Functional Foods Market Size & Outlook
Middle East & Africa functional foods market, 2017-2030 (US$M)
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MEA functional foods market highlights
- The MEA functional foods market generated a revenue of USD 13,713.7 million in 2023.
- The market is expected to grow at a CAGR of 7.5% from 2024 to 2030.
- In terms of segment, prebiotics & probiotics was the largest revenue generating ingredient in 2023.
- Vitamins is the most lucrative ingredient segment registering the fastest growth during the forecast period.
- Country-wise, Saudi Arabia is expected to register the highest CAGR from 2024 to 2030.
MEA data book summary
| Market revenue in 2023 | USD 13,713.7 million |
| Market revenue in 2030 | USD 22,739.5 million |
| Growth rate | 7.5% (CAGR from 2023 to 2030) |
| Largest segment | Prebiotics & probiotics |
| Fastest growing segment | Vitamins |
| Historical data covered | 2017 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Carotenoids, Dietary Fibers, Fatty Acids, Minerals, Prebiotics & Probiotics, Vitamins |
| Key market players worldwide | Coca-Cola Co, Arla Foods, Amway Malaysia Holdings, Herbalife Ltd, Cargill, General Mills Inc, Basf SE |
Other key industry trends
- In terms of revenue, MEA region accounted for 4.2% of the global functional foods market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 221,651.4 million by 2030.
Key Regions: U.S. , UK , Japan , Brazil , South Africa
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Functional Foods Market Scope
Functional Foods Market Companies
| Name | Profile | # Employees | HQ | Website |
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Middle East & Africa functional foods market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to functional foods market will help companies and investors design strategic landscapes.
Prebiotics & probiotics was the largest segment with a revenue share of 33.63% in 2023. Horizon Databook has segmented the Middle East & Africa functional foods market based on carotenoids, dietary fibers, fatty acids, minerals, prebiotics & probiotics, vitamins covering the revenue growth of each sub-segment from 2017 to 2030.
Expanding health food and nutraceutical markets in the Middle East & Africa region have prompted growth in the functional foods industry as well. Functional foods are gaining traction in the Middle East food market, as rising disposable incomes and increasing awareness allows consumers to make more health conscious decisions. Functional foods have been around for a long time, with their perceived benefits being highlighted in numerous magazines dedicated to the cause.
However, dissemination of information through internet enabled smartphones has boosted consumer awareness regarding their benefits to a larger extent in recent years. Furthermore, increasing instances of stroke, cholesterol, diabetes and other lifestyle related health risks have increase sports activities, exercise and adherence to diets among health conscious consumers.
Transitioning demographics in this region, such as the rise of a young, working population, has increased the spending on goods pertaining to health and well-being. Clean label & natural products are also being consumed to a significant extent as consumers realize the benefits of such products, as compared to others containing artificial additives. This trend is particularly eminent among the white collar employees, non-residential foreign returns, and expatriates working in the region.
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Target buyers of Middle East & Africa functional foods market databook
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Our clientele includes a mix of functional foods market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of continent-level data and insights on the Middle East & Africa functional foods market , including forecasts for subscribers. This continent databook contains high-level insights into Middle East & Africa functional foods market from 2017 to 2030, including revenue numbers, major trends, and company profiles.
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MEA functional foods market size, by country, 2017-2030 (US$M)
Middle East & Africa Functional Foods Market Outlook Share, 2023 & 2030 (US$M)
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