The market for functional food ingredients in APAC is anticipated to reach US$ 3.5 billion by 2022 end and grow at a strong CAGR of 7% from 2022 to 2032.
Fortified F&B products like fresh produce, packaged foods, dairy products, and functional beverages are increasingly using functional food additives. The Asia Pacific functional food components market is being driven by rising sales of healthy or functional beverages.
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Key Takeaways – Functional Food Ingredients Market Study
- Growing popularity of omega-3 as a supplement in the Asia Pacific region is expected to boost the growth of the functional food ingredients market, particularly in the spreadable fats and oils food products segment.
- ASEAN is ranked as the seventh-largest economy in APAC, and consumers in this region are more inclined towards intake of nutritional food products that offer various health benefits.
- Multinational companies manufacturing functional food ingredients are taking initiatives to tackle nutritional deficiencies. Companies such as Nestlé and Unilever have started food fortification to add both macro and micronutrients in their food products.
- Nestlé S.A. started fortification of its products such as cereals to target deficiencies in specific global markets. By 2016, the company fortified 200 billion servings of food and beverages, worldwide, while partnering with the HarvestPlus program (bio fortification) and agricultural research partners in India.
- Unilever PLC partnered with the World Food Program to launch ‘Together for Child Vitality’, an initiative to improve the nutrition and health of school-aged children. Unilever PLC fortifies products such as spreads, seasonings, porridges, and bouillons, which are affordable and easily accessible.
- Japan is perceived as a highly profitable market for manufacturers of functional food ingredients worldwide.
- In 2017-18, 8-10% of Japanese population was diabetic, which created significant opportunities for manufacturers of functional food ingredients to target this demographic by offering products to mitigate the impact of diabetes.
The primary focus of producers of functional food components is on filling local or domestic demands. In India, vegetarian alternatives like flaxseed oil and algae have been discovered to create omega-3, which is typically obtained from meat. Food and beverage companies are also giving research and development activities top priority in an effort to enhance their product offerings with nutritional profiles that serve several purposes.
The market for functional food components in APAC continues to be significantly influenced by consumer choice for preventative healthcare. Increased demand for natural functional food ingredients has been a notable trend that will further impact prebiotic ingredient sales, according to a recent research analysis by Future Market Insights (FMI). One of the most significant variables influencing market growth in APAC will be this.
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Market Segments Covered in APAC Functional Food Ingredients Industry Analysis
By Ingredient Type:
- Vitamins
- Minerals
- Prebiotic & Dietary Fibers
- Probiotics
- Carotenoids
- Proteins
- Omega-3 Fatty Acids
By Application:
- Beverages
- Dairy and Dairy-based Products
- Bakery and Confectionary
By Country:
- China
- India
- Japan
- ASEAN
- Australia and New Zealand
- South Korea
- Rest of APAC
About FMI
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization, and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel, and End Use over the next 10 years.
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