APAC Heart Health Functional Foods Market to Reach US$ 655.7 Mn by 2026
Future Market Insights (FMI) delivers key insights on the Asia Pacific heart health functional food market in its upcoming outlook titled, “Heart Health Functional Food Market: Asia Pacific Industry Analysis and Opportunity Assessment, 2016–2026”. In terms of value, the Asia Pacific (APAC) heart health functional food market is expected to expand at a CAGR of 6.8% during the forecast period due to various factors, of which FMI offers vital insights.
On the basis of type, the market is segmented into dairy products, breakfast cereals, edible oils, nutritional bars, and others (eggs and wine). Growth of the market is driven by growing preferences for heart health drink mixes in the dairy products segment as well as natural ingredient-based specific functional foods. On the basis of distribution channels, the market is segmented into hypermarkets, supermarkets, departmental stores, and grocer/retailers.
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Consumers are preferring heart and other health condition-specific functional food supplements due to various health issues associated with chronic conditions. This is fuelling demand for functional health foods to manage chronic conditions such as cardiovascular disease, cholesterol, diabetes, obesity etc. Changing lifestyle, unhealthy food habits, and consumers opting for prevention rather than cure of diseases is driving demand for heart health functional foods. In countries such as China, an increasing aging population concentrating on heath and preferring heart health functional foods is increasing the spending of consumers on heart health functional foods. Furthermore, increasing governmental regulations and recommendations and innovations in heart health functional food products are driving market growth.
High profitability margins, ease of resource availability, rising economic opportunity in developing nations and developed distribution channels, both online as well as offline, are factors encouraging new players to venture in the APAC heart health functional food market. Established players in the APAC heart health functional food market are expanding production facilities and are focusing on product innovations, which is creating robust competition in the market in the region.
This report discusses trends driving growth of each segment and offers analysis and insights into the potential of the heart health functional food market in specific countries including Japan, China, India, Singapore, Malaysia, Thailand, and Indonesia. Markets in Japan, China, and India are expected to record high growth rates in terms of value between 2016 and 2026. Among all the countries in APAC, Japan is estimated to account for a comparatively higher value share in 2016. The market in Japan is expected to remain dominant over the forecast period and is expected to account for 29.2% revenue share by 2026. China is another major market for heart health functional foods. Various government bodies across the region are devising and implementing new norms regarding consumption of heart health products, especially omega 3 fortified food, and this is expected to drive market growth in China and Japan. In India, increasing prevalence of chronic and cardiovascular diseases is a major driver of growth of the heart health functional food market in the country, and the market is expected to account for 17.7% market share in terms of value by 2026. Singapore, Indonesia, and Malaysia are other countries in APAC where the market is expected to witness significant growth over the forecast period.
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This report covers detailed profiles of key players Asia Pacific heart health functional food market, which includes key strategies, key developments, and product offerings. Leading companies profiled in this report are Marico Ltd., Kellogg Company, Raisio plc, Nestlé S.A., Kalbe Farma Tbk, Associated British Foods, Ruchi Soya Industries Ltd., Bagrry’s India Ltd., PepsiCo, Inc. and ConAgra Foods, Inc.
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