TRENDS IN THE DEVELOPMENT OF THE INTERNATIONAL MARKET FOR FUNCTIONAL PRODUCTS

Abstract

The article is devoted to current trends in the international market of functional products as interest in functional nutrition is constantly growing. It is established that the current socio-economic and environmental situation, as well as the impact of the pandemic has shaped demand for products. An important motive for consuming functional products is to maintain proper nutrition, health, and well-being. An additional factor in the success of the functional products market is the familiarity and knowledge of the impact of a particular product on health. The growth of consumption of a functional product increases when the consumer associates knowledge of functional characteristics and useful properties with the consequences of their consumption. In turn, manufacturers of functional products have additional opportunities to consolidate their positions and gain competitive advantage in the markets. However, the production and sale of these products is quite complex, expensive and risky process, as it must meet special requirements. In addition to opportunities, it is necessary to take into account technological barriers, legal aspects, as well as changes in consumer tastes and take into account when developing functional products. The concepts of "functional products" and "functional nutrition" and the change in consumer attitudes to these concepts have been studied. As currently, functional foods are not uniquely recognizable, and their perception by consumers is sometimes quite confusing. An analysis of the dynamics of global sales of healthy food and beverages by product categories and income received in the market of functional foods in the world. The analysis of the current situation on the market of functional products in the USA, Japan and some European countries is given, the future potential of functional food is investigated. The world market leaders of functional products and factors that contributed to their development have been studied. Priority strategies for the development of small and medium-sized companies in the market of functional products are studied. Thus, it is established that functional products can provide opportunities for food companies, in terms of economic benefits, and consumers, as well as the opportunity to obtain useful foods.