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Asia Pacific Functional Food Market Size, Share, Growth, Trends, Forecast: By Source: Plants, Animals; By Product Type: Prebiotics and Probiotics, Dietary Fibers, Minerals, Fatty Acids (Omega-3 Fatty Acids), Carotenoids, Vitamins, Others; By Applications: Cardio Health, Others; By Distribution Channel; Regional Analysis; Supplier Landscape; 2024-2032
Asia Pacific Functional Food Market Outlook
The Asia Pacific functional food market size was valued at USD 353.42 million in 2023, driven by the increasing awareness about healthcare and consuming highly nutritional food across Asia Pacific. The market size is anticipated to grow at a CAGR of 7% during the forecast period of 2024-2032 to achieve a value of USD 649.75 million by 2032.
Functional Food: Introduction
Functional foods, also known as nutraceuticals, are basically highly nutritious food items which provide numerous healthy benefits and are quite powerful in nature. They provide protection against diseases, revert nutritional deficiencies by promoting better immunity functionality. Dietary supplements are also a type of functional food items which are used to improve overall health of an individual and provide even targeted health benefits. Food items that are loaded with nutritional value are also considered as functional foods, such as fruits and vegetables, that are loaded with vitamins, fibre, probiotics, and minerals.
Asia Pacific Functional Food Market Analysis
The increasing awareness among people about the importance of conducting healthy lifestyles and consuming healthy and balanced diets is significantly adding to the Asia Pacific functional food market growth. Additionally, the key players in the market are also focusing on increasing the range of their products in the functional foods category, such as offering nutritious beverages. The consumption of highly nutritious food items is an absolute necessity, and many key players are introducing products with high nutritious values.
Key players across the region are focusing on products which can meet both nutrient and taste value, at an affordable price point. They are working on the development of products which can help the consumers achieve the nutritional requirement of the body. The development of such food items in the form of supplements is also anticipated to add to the Asia Pacific functional food market development.
The rising awareness about the importance of maintaining good health among the consumers is primarily aiding the market growth. Other factors which are propelling the growth of the market include the rising healthcare expenses and the rising prevalence of diseases triggered by lack of nutrients. The rising trend of fitness and athletic physique is also a key factor leading to increased demand for functional food.
Asia Pacific Functional Food Market Segmentations
Market Breakup by Source
- Plants
- Animals
Market Breakup by Product Type
- Prebiotics and Probiotics
- Dietary Fibers
- Minerals
- Fatty Acids (Omega-3 Fatty Acids)
- Carotenoids
- Vitamins
- Others
Market Breakup by Applications
- Cardio Health
- Immunity
- Digestive Health
- Sports Nutrition
- Weight Management
- Clinical Nutrition
- Others
Market Breakup by Distribution Channel
- Store-Based
- Non-Store-Based
Market Breakup by Region
- China
- Japan
- India
- ASEAN
- Australia
- Others
Asia Pacific Functional Food Market Overview
The increasing awareness about healthcare and consuming highly nutritional food is increasing the demand for functions food in the Asia pacific region. Increasing availability and affordability of functional foods across different distribution channels has also been contributing to the Asia Pacific functional food market expansion. More people choosing to consume functional foods to maintain a healthy lifestyle is creating high demand in the market which is making key players in the market to manufacture more functional food so as not to distress the supply chain in the market. The rapid development of fitness and healthcare sector in the region are also anticipated to add to the overall market in the coming years.
Asia Pacific Functional Food Market: Competitor Landscape
The key features of the market report include patent analysis, grants analysis, clinical trials analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players. The major companies in the market are as follows:
- MEIJI Holdings Co Ltd.
- Nestle
- Yakult Honsha Co Ltd.
- The Coca-Cola Company
- BASF SE
- Kellogg Company
- GlaxoSmithKline Company
- PepsiCo Inc.
- General Mills, Inc.
- Agro Tech Foods Ltd.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2017-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Source |
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| Breakup by Product Type |
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| Breakup by Applications |
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| Breakup by Distribution Channel |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
1.1 Objectives of the Study
1.2 Key Assumptions
1.3 Report Coverage – Key Segmentation and Scope
1.4 Research Methodology
2 Executive Summary
3 Asia Pacific Functional Food Market Overview
3.1 Asia Pacific Functional Food Market Historical Value (2017-2023)
3.2 Asia Pacific Functional Food Market Forecast Value (2024-2032)
4 Asia Pacific Functional Food Market Landscape
4.1 Asia Pacific Functional Food Developers Landscape
4.1.1 Analysis by Year of Establishment
4.1.2 Analysis by Company Size
4.1.3 Analysis by Region
4.2 Asia Pacific Functional Food Product Landscape
4.2.1 Analysis by Source
4.2.2 Analysis by Product Type
4.2.3 Analysis by Applications
5 Asia Pacific Functional Food Market Dynamics
5.1 Market Drivers and Constraints
5.2 SWOT Analysis
5.3 Porter’s Five Forces Model
5.4 Key Demand Indicators
5.5 Key Price Indicators
5.6 Industry Events, Initiatives, and Trends
5.7 Value Chain Analysis
6 Asia Pacific Functional Food Market Segmentation
6.1 Asia Pacific Functional Food Market by Source
6.1.1 Market Overview
6.1.2 Plants
6.1.3 Animals
6.2 Asia Pacific Functional Food Market by Product Type
6.2.1 Market Overview
6.2.2 Prebiotics and Probiotics
6.2.3 Dietary Fibers
6.2.4 Minerals
6.2.5 Fatty Acids (Omega-3 Fatty Acids)
6.2.6 Carotenoids
6.2.7 Vitamins
6.2.8 Others
6.3 Asia Pacific Functional Food Market by Applications
6.3.1 Market Overview
6.3.2 Cardio Health
6.3.3 Immunity
6.3.4 Digestive Health
6.3.5 Sports Nutrition
6.3.6 Weight Management
6.3.7 Clinical Nutrition
6.3.8 Others
6.4 Asia Pacific Functional Food Market by Distribution Channel
6.4.1 Market Overview
6.4.2 Store-Based
6.4.3 Non-Store-Based
6.5 Asia Pacific Functional Food Market by Country
6.5.1 Market Overview
6.5.2 China
6.5.3 Japan
6.5.4 India
6.5.5 ASEAN
6.5.6 Australia
6.5.7 Others
7 Patent Analysis
7.1 Analysis by Type of Patent
7.2 Analysis by Publication year
7.3 Analysis by Issuing Authority
7.4 Analysis by Patent Age
7.5 Analysis by CPC Analysis
7.6 Analysis by Patent Valuation
7.7 Analysis by Key Players
8 Grants Analysis
8.1 Analysis by year
8.2 Analysis by Amount Awarded
8.3 Analysis by Issuing Authority
8.4 Analysis by Grant Application
8.5 Analysis by Funding Institute
8.6 Analysis by NIH Departments
8.7 Analysis by Recipient Organization
9 Funding Analysis
9.1 Analysis by Funding Instances
9.2 Analysis by Type of Funding
9.3 Analysis by Funding Amount
9.4 Analysis by Leading Players
9.5 Analysis by Leading Investors
9.6 Analysis by Geography
10 Partnership and Collaborations Analysis
10.1 Analysis by Partnership Instances
10.2 Analysis by Type of Partnership
10.3 Analysis by Leading Players
10.4 Analysis by Geography
11 Regulatory Framework
11.1 Regulatory Overview
11.1.1 US FDA
11.1.2 EU EMA
11.1.3 INDIA CDSCO
11.1.4 JAPAN PMDA
11.1.5 Others
12 Supplier Landscape
12.1 MEIJI Holdings Co Ltd.
12.1.1 Financial Analysis
12.1.2 Product Portfolio
12.1.3 Demographic Reach and Achievements
12.1.4 Mergers and Acquisition
12.1.5 Certifications
12.2 Nestle SA
12.2.1 Financial Analysis
12.2.2 Product Portfolio
12.2.3 Demographic Reach and Achievements
12.2.4 Mergers and Acquisition
12.2.5 Certifications
12.3 Yakult Honsha Co Ltd.
12.3.1 Financial Analysis
12.3.2 Product Portfolio
12.3.3 Demographic Reach and Achievements
12.3.4 Mergers and Acquisition
12.3.5 Certifications
12.4 The Coca-Cola Company
12.4.1 Financial Analysis
12.4.2 Product Portfolio
12.4.3 Demographic Reach and Achievements
12.4.4 Mergers and Acquisition
12.4.5 Certifications
12.5 BASF SE
12.5.1 Financial Analysis
12.5.2 Product Portfolio
12.5.3 Demographic Reach and Achievements
12.5.4 Mergers and Acquisition
12.5.5 Certifications
12.6 Kellogg Company
12.6.1 Financial Analysis
12.6.2 Product Portfolio
12.6.3 Demographic Reach and Achievements
12.6.4 Mergers and Acquisition
12.6.5 Certifications
12.7 GlaxoSmithKline Company
12.7.1 Financial Analysis
12.7.2 Product Portfolio
12.7.3 Demographic Reach and Achievements
12.7.4 Mergers and Acquisition
12.7.5 Certifications
12.8 PepsiCo Inc.
12.8.1 Financial Analysis
12.8.2 Product Portfolio
12.8.3 Demographic Reach and Achievements
12.8.4 Mergers and Acquisition
12.8.5 Certifications
12.9 General Mills, Inc.
12.9.1 Financial Analysis
12.9.2 Product Portfolio
12.9.3 Demographic Reach and Achievements
12.9.4 Mergers and Acquisition
12.9.5 Certifications
12.10 Agro Tech Foods Ltd.
12.10.1 Financial Analysis
12.10.2 Product Portfolio
12.10.3 Demographic Reach and Achievements
12.10.4 Mergers and Acquisition
12.10.5 Certifications
13 Asia Pacific Functional Food Market - Distribution Model (Additional Insight)
13.1 Overview
13.2 Potential Distributors
13.3 Key Parameters for Distribution Partner Assessment
14 Key Opinion Leaders (KOL) Insights (Additional Insight)
15 Company Competitiveness Analysis (Additional Insight)
15.1 Very Small Companies
15.2 Small Companies
15.3 Mid-Sized Companies
15.4 Large Companies
15.5 Very Large Companies
16 Payment Methods (Additional Insight)
16.1 Government Funded
16.2 Private Insurance
16.3 Out-of-Pocket
*Additional insights provided are customisable as per client requirements.
Key Questions Answered in the Report
The market attained a value of about USD 353.42 million in 2023, driven by the rising demand for healthy and nutritious food.
The market size is anticipated to grow at a CAGR of 7% during the forecast period of 2024-2032 and reach a market value of USD 649.75 million by 2032.
The increasing focus of key players on developing and expanding their product ranges is a major trend aiding the market growth.
They key drivers of the market include the rising disposable incomes, rising demand for nutritious food, increasing awareness about the importance of maintaining healthy diets and overall health.
The major regions of the market include China, Japan, India, ASEAN, and Australia, among others.
The different sources of functional food in the market are plants and animals.
The different types of products in the market are prebiotics and probiotics, dietary fibers, minerals, fatty acids (omega-3 fatty acids), carotenoids, and vitamins, among others.
Functional food products find wide applications in cardio health, immunity, digestive health, sports nutrition, weight management, and clinical nutrition, among others.
The different distribution channels in the market include store based and non-store-based channels.
Key players involved in the market are MEIJI Holdings Co Ltd., Nestle SA., Yakult Honsha Co Ltd., The Coca-Cola Company, BASF SE, GlaxoSmithKline Company, PepsiCo Inc., General Mills, Inc., Agro Tech Foods Ltd., and Kellogg Company.
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