In India, IndustryARC reports that there were more than 6000 products launched in various sectors of functional food and nutraceuticals last decade addressing specific health issues. The market will further expand with the inclusion of the rising ageing population and middle income economies.
It estimates the global functional food market revenue for the year 2013 to be around $175 billion. With an annual average growth rate of about 15% the global market for functional food is forecast to exceed $230 billion by 2015.
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