Increasing awareness on preventive healthcare is driving demand for functional food ingredients in APAC. The total revenues are projected to surpass US$ 5 Bn by 2026.
Future Market Insights provides a detailed study on the Asia-Pacific functional food ingredients market in a latest report titled, „Functional Food Ingredients Market: Asia Pacific Industry Analysis and Opportunity Assessment, 2016 – 2026“. In terms of value, the Asia-Pacific functional food ingredients market is projected to register a healthy CAGR of 5.9% during the forecast period. Future Market Insights offers vital insights on the various factors and trends influencing the growth of this market over a 10-year forecast period.
There is a rising demand for functional/fortified foods and an increasing consumer awareness of health and fitness in the Asia-Pacific region, which is expected to boost the demand for functional foods and subsequently drive market growth over the forecast period. Increasing consumption of processed food in developing economies such as India and China and a rising GDP is also likely to drive the demand for functional foods across the region. Some other factors impacting growth of the functional food ingredients market in Asia Pacific include a growing baby boomer population, changing lifestyle patterns, and increasing urbanisation.
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Market forecast
The APAC functional food ingredients market is segmented on the basis of Ingredient Type (Vitamins, Minerals, Prebiotics & Dietary Fibre, Probiotics, Carotenoids, Protein, Omega 3 Fatty Acids) and Application (Beverages, Dairy & Dairy Based Products, Infant Food, Bakery & Confectionery).
-The demand for probiotic and vitamin ingredients is expected to increase significantly over the forecast period
-The probiotics segment is estimated to be valued at US$ 1.23 Bn by 2026, expanding at a CAGR of 6.6% over the forecast period
-The dairy and dairy based products segment is anticipated to be valued at US$ 1.47 Bn by 2026, expanding at a CAGR of 6.4% during the forecast period
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The Asia-Pacific functional food ingredients market is anticipated to increase 0.6X in terms of value during the forecast period. Valued at US$ 2.71 Bn in 2015, the Asia-Pacific functional food ingredients market is estimated to reach US$ 2.85 Bn by the end of 2016, reflecting a Y-o-Y growth rate of 5.4%. The market is expected to be valued at US$ 5.04 Bn by the end of 2026, registering a CAGR of 6.1% over the forecast period. The Asia-Pacific functional food ingredients market is estimated to represent an absolute dollar opportunity of US$ 147.0 Mn in 2016 over 2015 and is expected to represent an incremental dollar opportunity of US$ 2.19 Bn during the forecast period. Japan is likely to dominate the Asia-Pacific functional food ingredients market, accounting for a revenue share of 35.1% by 2026, while China is projected to register the second-highest CAGR of 6.3% in terms of value over the forecast period.
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Key players in the Asia-Pacific functional food ingredients market include functional food ingredients suppliers and customers. Asia-Pacific functional food ingredients suppliers focused in the report include Sciphar Natural Products Co. Ltd., Marathwada Chemical Industries Pvt. Ltd., NEW ASIA INGREDIENTS PTE LTD, FENCHEM BIOTEK LTD., Arjuna Natural Extracts Ltd., Shandong Yuwang Industrial Co., Ltd., Supreem Pharmaceuticals Mysore Pvt. Ltd., Bio Actives Japan Corporation, Global Specialty Ingredients (M) Sdn. Bhd., and Excellent Health Products Co. Ltd. Functional food ingredients customers profiled in the report include Nestle S.A., PepsiCo Inc., ConAgra Foods Inc., Kellogg Company, Yakult Honsha Co. Ltd., Danone SA, Meiji Holdings Co. Ltd., The Coca-Cola Co., Tata Global Beverages Ltd., and General Mills, Inc.
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