Peru Functional Food Market Report and Forecast 2024-2032

Peru Functional Food Market Size

The Peru functional food market reached approximately USD 1.86 billion in 2023. The market is projected to grow at a CAGR of 3.50% between 2024 and 2032, reaching a value of around USD 2.55 billion by 2032.

Peru Functional Food Market Outlook

• Some of the well-known superfoods in the Peruvian region include Criollo cacao, Camu Camu, Maca, and Quinoa, among others.

• The Andean Mountain range in Mexico offers favourable conditions for the growth of highly nutritious and functional food, which can provide ample opportunities for market growth.

• Researchers based in the University of Aberdeen’s Rowett Institute are collaborating with Perubien company for the research on Peruvian crops such as purple corn and yacon for the development of specialised food ingredients.

Peru Functional Food Market Growth

Growing health awareness among consumers, the prevalence of chronic diseases, and the incorporation of local superfoods into daily diets are some of the crucial market drivers. Peru is well-known for its wide range of native superfoods, such as quinoa, maca, and lucuma, that are increasingly being incorporated into functional food formulations. These ingredients are not only sourced locally but also carry the "superfood" label, appealing to health-conscious consumers in the country.

Functional foods are becoming more widely available as they expand from healthy food stores to mainstream supermarkets and online platforms, reaching a larger audience and this shift is further fuelled by the increasing focus on health and wellness in urban areas of Peru.

Manufacturers are also increasing their product offerings to include fortified ready-to-eat meals, snacks, and beverages, which greatly appeals to consumers with busy lifestyles as well as those looking to grab a quick bite of a healthy snack.

Peru Functional Food Industry Segmentation

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

Market Breakup by Product Type

• Bakery and Cereals

• Dairy Products

• Meat, Fish, and Eggs

• Snack/Functional Bars

• Soy Products

• Others

Market Breakup by Ingredient

• Probiotics

• Minerals

• Proteins and Amino Acids

• Prebiotics and Dietary Fibres

• Vitamins

• Others

Market Breakup by Application

• Sports Nutrition

• Weight Management

• Digestive Health

• Clinical Nutrition

• Cardio Health

• Others

Peru Functional Food Market Share

Based on application, the market is divided into sports nutrition, weight management, digestive health, clinical nutrition, and cardio health, among others. Digestive health accounts for a major market share as consumers are becoming increasingly conscious of the significance of digestive health, due to which there is a rising interest in functional foods that promote gut health, including products enriched with probiotics, prebiotics, and dietary fibres.

Leading Companies in the Peru Functional Food Market

The market players are increasing their offerings of fortified and functional snacks and beverages to appeal to health-conscious consumers.

• Nestle S.A.

• LAIVE SA

• Abbott Laboratories

• Leche Gloria S.A.

• Herbalife International, Inc.

• Others

Key Highlights of the Report