Colombia Functional Food Market Size Analysis Report - Market Share, Forecast Trends and Outlook (2024-2032)

Colombia Functional Food Market Growth

As per the Global Nutrition Report released in 2022, stunting and wasting are some of the significant nutritional challenges for Colombia’s population. Nearly 1.6% of Colombia’s children are wasted, which is higher than the regional average of Latin America and the Caribbean region (1.3%). Poor nutritional status of children has also been linked with iron deficiencies among women, with nearly 21.2% of women in the reproductive age group suffering from anaemia. This has resulted in low weight at birth in nearly 10.0% of all infants born in Colombia, with only 36.7% of them being exclusively breastfed. The rising prevalence of obesity among people (20.0% of men and 29.3% of women) is also expected to drive the demand for functional foods in Colombia.

Over the forecast period, the demand for sugar-free items enriched with healthy fibres is expected to dominate the market, as customers affected by diabetes shift towards healthier foods, thereby driving the market growth.

An increasing number of consumers are shifting towards the consumption of food supplements that help them manage daily health issues. This includes products formulated with cinnamon, turmeric, wheat grass, psyllium/other fibres, beetroot, and ginger, among others. Mushrooms have become significantly popular in recent times, due to their versatility in different culinary applications. As consumer awareness regarding different health allergies soars, the market is expected to witness significant expansion in the coming years.

Key Trends and Developments

Rising demand for probiotics; fortification of regular foods; customised ingredients for addressing allergies; and increasing demand for soy are the major trends impacting the Colombia functional food market growth

July 23, 2024

UAE-based International Holding Co acquires Colombia’s leading food processing company Nutresa for $11 billion from the Gilinski Group.

July 19, 2024

Groupe Lactalis is expected to invest nearly EUR 3 million to upgrade its Medellín facility, located in Antioquia, to enhance the production of various dairy desserts, cream, and UHT milk.

February 28, 2024

Luker Chocolate decided to debut a range of new capabilities and innovative products at Expo West 2024. This included the introduction of two chocolates formulated with pea protein and oat milk to cater to the requirements of vegan consumers.

December 9, 2021

HarvestPlus launched Colombia’s first variety of rice biofortified with zinc, known as Fedearroz BioZn035 to boost nutritional outcomes among its population.

Rising demand for probiotics

There is a growing demand for probiotics, which can be attributed to increasing consumer awareness surrounding digestive health and maintaining high levels of immunity.

Fortification of regular foods

The fortification of regular foods, including dairy products, desserts, and snacks, to enhance their consumer appeal and reduce nutrient deficiencies is aiding the market.

Customised ingredients for addressing allergies

The rising incidence of food allergies has prompted market players to manufacture customised functional foods that cater to the unique issues faced by consumers.

Increasing demand for soy

The rising demand for soy can be attributed to the increasing demand for protein consumption, which boosts satiety and builds muscle mass.

Colombia Functional Food Market Trends

The US accounts for nearly 85% of the total market for soybean meals in Colombia. It is the sixth-largest market for USA’s agricultural products and is responsible for feeding a substantial portion of Colombia’s population. The numerous health benefits of soy, including improved heart health and reduced risk of cancer, have made it an attractive functional ingredient in many food products for manufacturers. This is expected to drive the market growth over the forecast period.

Colombia Functional Food Industry Segmentation

Colombia Functional Food Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:

Market Breakup by Ingredient

• Probiotics
• Minerals
• Proteins and Amino Acids
• Prebiotics and Dietary Fibres
• Vitamins
• Others

Market Breakup by Product Type

• Bakery and Cereals
• Dairy Products
• Meat, Fish, and Eggs
• Soy Products
• Fats and Oils
• Others

Market Breakup by Region

• Bogotá
• Antioquia
• Valle de Cauca
• Santander
• Cundinamarca
• Atlántico
• Others

Colombia Functional Food Market Share

Based on ingredients, the market is segmented into probiotics, minerals, proteins and amino acids, prebiotics and dietary fibres, and vitamins, among others. Over the forecast period of 2024-2032, the demand for probiotics is estimated to grow at a CAGR of 10.3% as the government's emphasis on tackling rising incidences of diabetes increases.

Leading Companies in the Colombia Functional Food Market

Major functional food manufacturers are expected to adopt ethical sourcing practices and ensure transparent product labelling to build consumer confidence and drive product demand.

• Abbott Laboratories
• Danone S.A.
• Glanbia, Plc
• General Mills Inc.
• Nestlé S.A.
• Alpina Productos Alimenticios SA
• Productos Naturales De La Sabana S.A.S (Alqueria)
• The Kraft Heinz Company
• Others

The comprehensive report looks into the macro and micro aspects of the market. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.