Consumers have become more interested in leading better and higher quality lives, and have become more aware of the health effects nutrition has on their body, stimulating the development of functional foods (FF), recognized for their ability to provide physiological benefits that go beyond conventional nutritional function. The evolution of this product category is supported by the progress of research on bioactive compounds and changing consumer preferences, but empirical evidence regarding the level of knowledge, acceptance and purchasing behavior of Romanian consumers remains insufficient. Meanwhile, technology in the food industry has evolved significantly in recent decades, creating opportunities for entrepreneurs and consumers. Using empirical evidence from a survey carried out on the consumers in the region of Transylvania, the study uses a cross-sectional observational design and investigates the awareness of and the population’s differences in perception and attitude on FF products depending on the generations and socio-economic situations consumers belong to, and the impact FF have on the market. The analysis focuses on food choice behaviors, degree of trust in health benefits and factors influencing the decision-making process. The results show that consumers are not aware of the FF concept, but understand the relation between food choice behaviors and personal health and act accordingly. Results also show that older consumers are more aware of their health, and younger consumers are more influenced by trends. This paper can be of importance to consumers, entrepreneurs, food and technological industries, governments and universities.