APAC Functional Food Market to Cross $ 71 Billion by 2025
Increasing concerns towards
health, rising urbanization and growing disposable income to drive Asia Pacific
functional food market during forecast period
According
to TechSci Research report, “Asia Pacific Functional Food Market By Source, By
Ingredient, By Application, By Distribution Channel, By Country, Competition,
Forecast & Opportunities, 2025”, Asia Pacific functional food
market is projected to surpass $ 71 billion by 2025 due to increasing product
innovations and research activities, rising disposable
income coupled with growing consumer focus towards better health. Functional
foods are the foods that provide functional health benefits beyond their basic nutritional
benefits. The ingredients used in the functional foods include Carotenoids,
Dietary Fibers, Fatty Acids, Minerals, Prebiotics & Probiotics, Vitamins
and others. Functional food is often used for Sports Nutrition, Weight
Management, Immunity, Digestive Health, Clinical Nutrition, Cardio Health and
other activities. A rising number of people are becoming more aware of their health and
paying more attention to their lifestyles and healthy diets, which is boosting demand
for functional foods across Asia Pacific.
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APAC
functional food market is segmented based on the Source, Ingredient, Application,
Distribution Channel and Country. Based on the distribution channel, the market
is bifurcated into Store-based and Non-store based. Until 2019, the store
distribution channel segment dominated Asia Pacific functional food market and
the segment’s dominance is expected to continue during the forecast period. Based
on the functional food ingredients, Asia Pacific functional food market has
been segmented into the Carotenoids, Dietary Fibers, Fatty Acids, Minerals, Prebiotics
& Probiotics, Vitamins and others. Among these segments, Prebiotics &
Probiotics segment accounted for the highest share in 2019. Prebiotics is a short-chain
carbohydrate, which is not digestible with the help of digestive enzymes
present in the human body but provides a better environment for the gut
bacteria. While probiotics are the bacteria and yeasts, which are good for the digestive
system. Asia Pacific functional food market offers a huge future opportunity
due to increasing ageing population, rising disposable income and growing consumer awareness about the benefits of functional foods.
The government is also focusing on food fortification and foods that claim
functional benefits, which is also attracting the makers of functional food to
invest in product innovation in the region’s functional food market.
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Major
companies operating in the functional food market include Nestle, PepsiCo Inc,
Yakult Honsha Co Ltd, BASF SE, MEIJI Holdings Co Ltd, The Coca-Cola Company,
GlaxoSmithKline Company, General Mills, Inc, Kellogg Company and Agro Tech
Foods Ltd., among others in Asia
Pacific Functional Food market. “Japan holds the largest share in Asia Pacific functional
food market, followed by China, owing to high consumer awareness about
functional food benefits coupled with comparatively a lot higher per capita
income. In fact, the entire Asia-Pacific functional food market is expected to grow
in the coming years on account of huge and continuously expanding middle and
upper middle class population, expanding ageing population, increasing incidences
of lifestyle and cardiovascular diseases, and rising availability of such
products across the rural and urban pockets of APAC.” said Mr. Karan Chechi,
Research Director with TechSci Research, a research-based global management
consulting firm.
“Asia Pacific Functional Food Market By Source, By
Ingredient, By Application, By Distribution Channel, By Country, Competition,
Forecast & Opportunities, 2025 ” has evaluated the future growth potential of Asia
Pacific functional food market and provides statistics & information on
market size, structure and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyses the emerging trends
along with essential drivers, challenges and opportunities in the Asia Pacific functional
food market.
Contact
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