Asia-Pacific Functional Foods Market Forecast to 2028 – COVID-19 Impact and Analysis – by Product Type (Bakery and Confectionery, Dairy and Frozen Desserts, Sweet and Savory Snacks, Breakfast Cereals, and Others), Category (Organic and Conventional), and Distribution Channel (Supermarkets and Hypermarkets, Convenience Stores, Online Retail, and Others)
The functional foods market in Asia-Pacific is expected to grow from US$ 80,318.62 million in 2021 to US$ 147,081.46 million by 2028; it is estimated to grow at a CAGR of 9.0% from 2021 to 2028.
The rising demand for nutritious food amid hectic lifestyles and growing consumer awareness about health benefit the market in this region. In addition, the demand for functional food is being driven by the aging population concerned about maintaining health and ever-rising medical costs. Further, there is an increasing need for on-the-go snacks fortified with nutrients. Consumers also choose functional ingredients in meals to minimize the risk of certain health disorders, such as obesity, weight control, diabetes, and cardiovascular disease. In addition to inappropriate eating habits, hectic lifestyles and rising stress levels contribute to a surge in the occurrence of such health problems. The COVID-19 pandemic had a humungous impact on consumers’ buying behaviors and eating habits. The sudden rise in immunity-boosting food products with rising health concerns and growing awareness regarding the benefits of consuming natural food lead to new trends in the food and beverages sector, thereby driving the functional foods market growth.
Asia-Pacific Functional Foods Market Revenue and Forecast to 2028 (US$ Million)
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Asia-Pacific Functional Foods Market Segmentation
The Asia-Pacific functional foods market is segmented on the basis of product type, category, distribution channel, and country. Based on product type, the market is segmented into bakery and confectionery, dairy and frozen desserts, sweet and savory snacks, breakfast cereals, and others. In 2020, the dairy and frozen desserts segment held the largest share of the Asia-Pacific functional foods market. Based on category, the market is segmented into organic and conventional. In 2020, the conventional segment held a larger market share. Based on distribution channel, the Asia-Pacific functional foods market is segmented into supermarkets and hypermarkets, specialty stores, online retail, and others. In 2020, the supermarkets and hypermarkets segment held the largest share of the Asia-Pacific functional foods market. Further, based on country, the Asia-Pacific functional foods market is segmented into China, Japan, India, Australia, South Korea, and the rest of Asia-Pacific. China contributed a substantial share in 2020.
Abbott; Clif Bar & Company; Danone S.A.; GENERAL MILLS, INC; HILDUR; Kellogg Company; Laird Superfood; Nestlé SA; and Unilever PLC are among the leading companies in the Asia-Pacific functional foods market.
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Scope of the Study
3.2 Research Methodology
3.2.1 Data Collection:
3.2.2 Primary Interviews:
3.2.3 Hypothesis Formulation:
3.2.4 Macro-economic Factor Analysis:
3.2.5 Developing Base Number:
3.2.6 Data Triangulation:
3.2.7 Country Level Data:
4. APAC Functional Foods Market Landscape
4.1 Market Overview
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Buyers
4.2.3 Threat of New Entrants
4.2.4 Competitive Rivalry
4.2.5 Threat of Substitutes
4.3 Expert Opinion
4.4 Ecosystem Analysis
5. APAC Functional Foods Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Surging Demand for Nutrient Enriched Food
5.1.2 Rise In Incidences of Chronic Diseases
5.2 Market Restraints
5.2.1 Higher Prices of Functional Foods
5.3 Market Opportunities
5.3.1 Rising new Product Development
5.4 Future Trends
5.4.1 Rising Demand for Healthy Snacking
5.5 Impact Analysis of Drivers and Restraints
6. Functional Foods – APAC Market Analysis
6.1 APAC Functional Foods Market Overview
6.2 APAC Functional Foods Market –Revenue and Forecast to 2028 (US$ Million)
7. APAC Functional Foods Market Analysis – by Product Type
7.1 Overview
7.2 APAC Functional Foods Market, by Product Type (2020 and 2028)
7.3 Bakery and Confectionery
7.3.1 Overview
7.3.2 Bakery and Confectionery: APAC Functional Foods Market – Revenue and Forecast to 2028 (US$ Million)
7.4 Dairy and Frozen Desserts
7.4.1 Overview
7.4.2 Dairy and Frozen Desserts: APAC Functional Foods Market – Revenue and Forecast to 2028 (US$ Million)
7.5 Sweet and Savory Snacks
7.5.1 Overview
7.5.2 Sweet and Savory Snacks: APAC Functional Foods Market – Revenue and Forecast to 2028 (US$ Million)
7.6 Breakfast Cereal
7.6.1 Overview
7.6.2 Breakfast Cereals: APAC Functional Foods Market – Revenue and Forecast to 2028 (US$ Million)
7.7 Others
7.7.1 Overview
7.7.2 Others: APAC Functional Foods Market – Revenue and Forecast to 2028 (US$ Million)
8. APAC Functional Foods Market Analysis – by Category
8.1 Overview
8.2 APAC Functional Foods Market, by Category (2020 and 2028)
8.3 Organic
8.3.1 Overview
8.3.2 Organic: APAC Functional Foods Market – Revenue and Forecast to 2028 (US$ Million)
8.4 Conventional
8.4.1 Overview
8.4.2 Conventional: APAC Functional Foods Market – Revenue and Forecast to 2028 (US$ Million)
9. APAC Functional Foods Market Analysis – by Distribution Channel
9.1 Overview
9.2 APAC Functional Foods Market, by Distribution Channel (2020 and 2028)
9.3 Supermarkets and Hypermarkets
9.3.1 Overview
9.3.2 Supermarkets and Hypermarkets: APAC Functional Foods Market – Revenue and Forecast to 2028 (US$ Million)
9.4 Convenience Stores
9.4.1 Overview
9.4.2 Convenience Stores: APAC Functional Foods Market – Revenue and Forecast to 2028 (US$ Million)
9.5 Online Retail
9.5.1 Overview
9.5.2 Online Retail: APAC Functional Foods Market – Revenue and Forecast to 2028 (US$ Million)
9.6 Others
9.6.1 Overview
9.6.2 Others: APAC Functional Foods Market – Revenue and Forecast to 2028 (US$ Million)
10. APAC Functional Foods Market– Country Analysis
10.1 APAC: Functional Foods Market
10.1.1 APAC: Functional Foods Market, by Key Country
10.1.1.1 Australia: Functional Foods Market –Revenue and Forecast to 2028 (USD Million)
10.1.1.1.1 Australia: Functional Foods Market, by Product Type
10.1.1.1.2 Australia: Functional Foods Market, by Category
10.1.1.1.3 Australia: Functional Foods Market, by Distribution Channel
10.1.1.2 China: Functional Foods Market –Revenue and Forecast to 2028 (USD Million)
10.1.1.2.1 China: Functional Foods Market, by Product Type
10.1.1.2.2 China: Functional Foods Market, by Category
10.1.1.2.3 China: Functional Foods Market, by Distribution Channel
10.1.1.3 India: Functional Foods Market –Revenue and Forecast to 2028 (USD Million)
10.1.1.3.1 India: Functional Foods Market, by Product Type
10.1.1.3.2 India: Functional Foods Market, by Category
10.1.1.3.3 India: Functional Foods Market, by Distribution Channel
10.1.1.4 Japan: Functional Foods Market –Revenue and Forecast to 2028 (USD Million)
10.1.1.4.1 Japan: Functional Foods Market, by Product Type
10.1.1.4.2 Japan: Functional Foods Market, by Category
10.1.1.4.3 Japan: Functional Foods Market, by Distribution Channel
10.1.1.5 South Korea: Functional Foods Market –Revenue and Forecast to 2028 (USD Million)
10.1.1.5.1 South Korea: Functional Foods Market, by Product Type
10.1.1.5.2 South Korea: Functional Foods Market, by Category
10.1.1.5.3 South Korea: Functional Foods Market, by Distribution Channel
10.1.1.6 Rest of APAC: Functional Foods Market –Revenue and Forecast to 2028 (USD Million)
10.1.1.6.1 Rest of APAC: Functional Foods Market, by Product Type
10.1.1.6.2 Rest of APAC: Functional Foods Market, by Category
10.1.1.6.3 Rest of APAC: Functional Foods Market, by Distribution Channel
11. Company Profiles
11.1 Unilever PLC
11.1.1 Key Facts
11.1.2 Business Description
11.1.3 Products and Services
11.1.4 Financial Overview
11.1.5 SWOT Analysis
11.1.6 Key Developments
11.2 Clif Bar & Company.
11.2.1 Key Facts
11.2.2 Business Description
11.2.3 Products and Services
11.2.4 Financial Overview
11.2.5 SWOT Analysis
11.2.6 Key Developments
11.3 Laird Superfood
11.3.1 Key Facts
11.3.2 Business Description
11.3.3 Products and Services
11.3.4 Financial Overview
11.3.5 SWOT Analysis
11.3.6 Key Developments
11.4 Abbott
11.4.1 Key Facts
11.4.2 Business Description
11.4.3 Products and Services
11.4.4 Financial Overview
11.4.5 SWOT Analysis
11.4.6 Key Developments
11.5 Danone S.A.
11.5.1 Key Facts
11.5.2 Business Description
11.5.3 Products and Services
11.5.4 Financial Overview
11.5.5 SWOT Analysis
11.5.6 Key Developments
11.6 GENERAL MILLS, INC.
11.6.1 Key Facts
11.6.2 Business Description
11.6.3 Products and Services
11.6.4 Financial Overview
11.6.5 SWOT Analysis
11.6.6 Key Developments
11.7 HILDUR
11.7.1 Key Facts
11.7.2 Business Description
11.7.3 Products and Services
11.7.4 Financial Overview
11.7.5 SWOT Analysis
11.7.6 Key Developments
11.8 Nestlé SA
11.8.1 Key Facts
11.8.2 Business Description
11.8.3 Products and Services
11.8.4 Financial Overview
11.8.5 SWOT Analysis
11.8.6 Key Developments
11.9 Kellogg Company
11.9.1 Key Facts
11.9.2 Business Description
11.9.3 Products and Services
11.9.4 Financial Overview
11.9.5 SWOT Analysis
11.9.6 Key Developments
12. Appendix
12.1 About The Insight Partners
12.2 Word Index
LIST OF TABLES
Table 1. APAC Functional foods Market –Revenue and Forecast to 2028 (US$ Million)
Table 2. Australia Functional Foods Market, by Product Type – Revenue and Forecast to 2028 (USD Million)
Table 3. Australia Functional Foods Market, by Category – Revenue and Forecast to 2028 (USD Million)
Table 4. Australia Functional Foods Market, by Distribution Channel – Revenue and Forecast to 2028 (USD Million)
Table 5. China Functional Foods Market, by Product Type – Revenue and Forecast to 2028 (USD Million)
Table 6. China Functional Foods Market, by Category – Revenue and Forecast to 2028 (USD Million)
Table 7. China Functional Foods Market, by Distribution Channel – Revenue and Forecast to 2028 (USD Million)
Table 8. India Functional Foods Market, by Product Type – Revenue and Forecast to 2028 (USD Million)
Table 9. India Functional Foods Market, by Category – Revenue and Forecast to 2028 (USD Million)
Table 10. India Functional Foods Market, by Distribution Channel – Revenue and Forecast to 2028 (USD Million)
Table 11. Japan Functional Foods Market, by Product Type – Revenue and Forecast to 2028 (USD Million)
Table 12. Japan Functional Foods Market, by Category – Revenue and Forecast to 2028 (USD Million)
Table 13. Japan Functional Foods Market, by Distribution Channel – Revenue and Forecast to 2028 (USD Million)
Table 14. South Korea Functional Foods Market, by Product Type – Revenue and Forecast to 2028 (USD Million)
Table 15. South Korea Functional Foods Market, by Category – Revenue and Forecast to 2028 (USD Million)
Table 16. South Korea Functional Foods Market, by Distribution Channel – Revenue and Forecast to 2028 (USD Million)
Table 17. Rest of APAC Functional Foods Market, by Product Type – Revenue and Forecast to 2028 (USD Million)
Table 18. Rest of APAC Functional Foods Market, by Category – Revenue and Forecast to 2028 (USD Million)
Table 19. Rest of APAC Functional Foods Market, by Distribution Channel – Revenue and Forecast to 2028 (USD Million)
Table 20. List of Abbreviation
LIST OF FIGURES
Figure 1. APAC Functional Foods Market Segmentation
Figure 2. APAC Functional foods Market Segmentation – By Country
Figure 3. APAC Functional Foods Market Overview
Figure 4. APAC Functional Foods Market: By Product Type
Figure 5. APAC Functional Foods Market: By Country
Figure 6. Porter's Five Forces Analysis
Figure 7. Expert Opinion
Figure 8. APAC Functional Foods Market Ecosystem
Figure 9. APAC Functional Foods Market Impact Analysis of Drivers and Restraints
Figure 10. APAC Functional Foods Market – Revenue and Forecast to 2028 (US$ Million)
Figure 11. APAC Functional Foods Market Revenue Share, by Product Type (2020 and 2028)
Figure 12. Bakery and Confectionery: APAC Functional Foods Market – Revenue and Forecast to 2028 (US$ Million)
Figure 13. Dairy and Frozen Desserts: APAC Functional Foods Market – Revenue and Forecast to 2028 (US$ Million)
Figure 14. Sweet and Savory Snacks: APAC Functional Foods Market – Revenue and Forecast to 2028 (US$ Million)
Figure 15. Breakfast Cereals Snacks: APAC Functional Foods Market – Revenue and Forecast to 2028 (US$ Million)
Figure 16. Others: APAC Functional Foods Market – Revenue and Forecast to 2028 (US$ Million)
Figure 17. APAC Functional Foods Market Revenue Share by Category (2020 and 2028)
Figure 18. Organic: APAC Functional Foods Market – Revenue and Forecast to 2028 (US$ Million)
Figure 19. Conventional: APAC Functional Foods Market – Revenue and Forecast to 2028 (US$ Million)
Figure 20. APAC Functional Foods Market Revenue Share by Distribution Channel (2020 and 2028)
Figure 21. Supermarkets and Hypermarkets: APAC Functional Foods Market – Revenue and Forecast to 2028 (US$ Million)
Figure 22. Convenience Stores: APAC Functional Foods Market – Revenue and Forecast to 2028 (US$ Million)
Figure 23. Online Retail: APAC Functional Foods Market – Revenue and Forecast to 2028 (US$ Million)
Figure 24. Others: APAC Functional Foods Market – Revenue and Forecast to 2028 (US$ Million)
Figure 25. APAC: Functional Foods Market, by key Country – Revenue (2020) (US$ Million)
Figure 26. APAC: Functional Foods Market Revenue Share, by Key Country (2020 and 2028)
Figure 27. Australia: Functional Foods Market –Revenue and Forecast to 2028 (USD Million)
Figure 28. China: Functional Foods Market –Revenue and Forecast to 2028 (USD Million)
Figure 29. India: Functional Foods Market –Revenue and Forecast to 2028 (USD Million)
Figure 30. Japan: Functional Foods Market –Revenue and Forecast to 2028 (USD Million)
Figure 31. South Korea: Functional Foods Market –Revenue and Forecast to 2028 (USD Million)
Figure 32. Rest of APAC: Functional Foods Market –Revenue and Forecast to 2028 (USD Million)
- Abbott
- Clif Bar & Company
- Danone S.A.
- GENERAL MILLS, INC
- HILDUR
- Kellogg Company
- Laird Superfood
- Nestlé SA
- Unilever PLC
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the Asia-Pacific Functional Foods Market.
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the Asia-Pacific Functional Foods Market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth Asia-Pacific market trends and outlook coupled with the factors driving the Functional Foods Market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution