In line with the growing incorporation into a variety of fortified food products such as fresh produce, packaged foods, dairy products and functional beverages, functional food ingredients continue to solidify their position in the industry. The increase in sales of healthy or functional beverages is particularly benefiting the growth of functional food ingredients market in Asia-Pacific (APAC).
Expected to surpass the value of US$3.5 billion by the end of 2022, the functional food ingredients market in APAC will witness a robust CAGR from 2022 to 2032.
Key Takeaways – Functional Food Ingredients Market Research
- The growing popularity of omega-3 as a supplement in the Asia-Pacific region is expected to drive the growth of the functional food ingredients market, especially in the segment of food products based on spreadable fats and oils.
- ASEAN is ranked as the seventh largest economy in APAC, and consumers in this region are more inclined to consume nutritional food products that provide various health benefits.
- Multinationals manufacturing functional food ingredients are taking initiatives to combat nutritional deficiencies. Companies such as Nestlé and Unilever have started food fortification to add both macro and micronutrients to their food products.
- Nestlé SA has started fortifying its products such as cereals to target deficiencies in specific global markets. In 2016, the company fortified 200 billion servings of food and beverages globally, while partnering with the HarvestPlus (biofortification) program and agricultural research partners in India.
- Unilever PLC has 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 enriches products such as spreads, seasonings, porridges and stocks, which are affordable and easily accessible.
- Japan is seen as a very profitable market for functional food ingredient manufacturers around the world.
- In 2017-2018, 8-10% of the Japanese population had diabetes, which has created significant opportunities for functional food ingredient manufacturers to target this demographic with products to mitigate the impact of diabetes.
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Functional food ingredient manufacturers focus on meeting regional or national needs. In India, omega-3s, which are normally a non-vegetarian product, were developed from vegetarian variants such as flaxseed oil and seaweed. Food companies are also prioritizing R&D investments to improve their product offerings with multifunctional nutritional profiles.
The consumer inclination towards preventive healthcare remains the key driver for the growth of the functional food ingredients market in APAC. A new research study from Future Market Insights (FMI) indicates that the growing demand for natural functional food ingredients is a remarkable trend that would further shape the sales of prebiotic ingredients. This is probably one of the major factors influencing market growth in APAC.
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Future Market Insights, in its new offering, provides an unbiased analysis of the global Functional Food Ingredients market, showcasing historical Functional Food Ingredients demand data (2017 – 2021) and forecast Functional Food Ingredients statistics for the period 2022 – 2032.
The study discloses compelling insights into the Functional Food Ingredients Market based on ingredient type (minerals, vitamins, probiotics, prebiotic and dietary fibers, proteins, carotenoids, and omega-3 fatty acids), based on application (beverages, dairy products and products, and bakery).
About Future Market Insights (IMF)
Future Market Insights (FMI) is a leading provider of market information and advisory services, serving clients in over 150 countries. FMI is headquartered in Dubai and has delivery centers in the UK, USA and India. FMI’s latest market research reports and industry analysis help businesses meet challenges and make critical decisions with confidence and clarity amidst fierce competition. Our custom and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of analysts led by FMI experts continuously monitor emerging trends and events across a wide range of industries to ensure our clients are prepared for the changing needs of their consumers.
Company Name: Future Market Outlook
Contact: Ankush Nikam
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Press release distributed by ABNewswire.com
To view the original version on ABNewswire, visit: Asia-Pacific Functional Food Ingredients Market Size Expected to Reach USD 8,141.5 Million by 2032 | IMF