Asia Pacific Nutraceuticals Market Forecast to 2031 - Regional Analysis - by Type (Functional Foods, Functional Beverages, Dietary Supplements, General Wellness, Sports Nutrition, Weight Management, Immune Health, and Others) and Distribution Channel (Supermarkets and Hypermarkets, Specialty Stores, Online Retail, Convenience Stores, and Others)
The Asia Pacific nutraceuticals market was valued at US$ 156.24 billion in 2023 and is expected to reach US$ 293.09 billion by 2031; it is estimated to register a CAGR of 8.2% from 2023 to 2031.
Innovations and Strategic Developments by Market Players Fuel Asia Pacific Nutraceuticals Market
The nutraceuticals market across the globe is growing with significant investments by manufacturers in research & development, partnerships, and collaborations to launch innovative products to tap into unexplored market segments. For instance, in March 2024, a dairy giant in Japan launched a milk beverage called “Meiji Eye and Sleep W Support,” containing 7.5 mg of a functional ingredient—crocetin, which is a carotenoid derived from gardenia fruit and saffron. Owing to its small molecular weight, the drink can be easily absorbed into the body. Also, in 2024, the Indian conglomerate Essel Group, owner of Zee TV, is actively establishing its new direct-selling business with the launch of its first nutraceutical product aimed at blood sugar control. Also, in 2024, MiracleMe, a nutritional products company, launched plant-based nutrition products that dissolve orally. The company aims to tackle the global challenge of micronutrient deficiencies, which affect over 200 million people. Thus, the increasing product innovation by key market players worldwide is driving the market growth.
Various nutraceutical manufacturers engage in collaborations to expand their customer base. In 2024, Marubeni Corporation acquired additional shares in AIG Asia Ingredients Corporation through its subsidiary, Marubeni Growth Capital Asia Pte. Ltd. This investment, following a previous one in October 2023, aims to enhance their strategic partnership. AIG is a key supplier and manufacturer of food ingredients in Vietnam, which has the fastest-growing food market in Southeast Asia, growing at about 8% annually. The company offers essential food and functional ingredient solutions for the branded packaged food and beverage sectors. Thus, the strategic development initiatives and continuous innovations by key market players propelling the nutraceuticals market across the globe.
Asia Pacific Nutraceuticals Market Overview
The increasing disposable income, a rising population, and improving living standards are the prominent factors bolstering the nutraceuticals market growth in Asia Pacific. Rapid urbanization and changing lifestyles are increasing the prevalence of chronic diseases. People are choosing functional ingredients to overcome deficiencies and fulfill their nutritional requirements. In August 2022, FrieslandCampina Ingredients introduced its Biotis GOS-OP High Purity in Asia Pacific countries, catering to the growing demand for effective and convenient gut health solutions. The company emphasizes on its findings that 61% of the region's consumers experience digestive issues every week. Further, there is growing interest in sports and physical activity to achieve fitness goals, which has been a significant enabler of the nutraceuticals market growth in Asia Pacific. Fitness enthusiasts and professional athletes require sports nutrition products, including protein powder and nutrition supplements, to improve their recovery and performance for games. Moreover, urbanization and busy lifestyles compel people to engage in active lifestyles to maintain healthy living. Various key companies are primarily focusing on launching and expanding their nutritional product portfolio to strengthen their position in the Asia Pacific nutraceuticals market. In June 2023, Steadfast Nutrition expanded its product portfolio by launching four new supplements to enhance athletic performance and increase muscle strength.
Asia Pacific Nutraceuticals Market Strategic Insights
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Asia Pacific Nutraceuticals Market Segmentation Analysis
The Asia Pacific nutraceuticals market is categorized into type, distribution channel, and country.
Based on type, the Asia Pacific nutraceuticals market is segmented into gr functional foods, functional beverages, and dietary supplements. The functional foods segment held the largest market share in 2023. The dietary supplements segment is further sub segmented into general wellness, sports nutrition, weight management, immune health, and others.
In terms of distribution channel, the Asia Pacific nutraceuticals market is segmented into supermarkets and hypermarkets, specialty stores, online retail, convenience stores, and others. The supermarkets and hypermarkets segment held the largest market share in 2023.
By country, the Asia Pacific nutraceuticals market is segmented into China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific. China dominated the Asia Pacific nutraceuticals market share in 2023.
Asia Pacific Nutraceuticals Market Report Highlights
Report Attribute
Details
Market size in 2023
US$ 156.24 Billion
Market Size by 2031
US$ 293.09 Billion
Global CAGR (2023 - 2031)
8.2%
Historical Data
2021-2022
Forecast period
2024-2031
Segments Covered
By Type
Functional Foods
Functional Beverages
Dietary Supplements
General Wellness
Sports Nutrition
Weight Management
Immune Health
Others
By Distribution Channel
Supermarkets and Hypermarkets
Specialty Stores
Online Retail
Convenience Stores
Others
Regions and Countries Covered
Asia Pacific
India
China
Japan
South Korea
Australia
Rest of Asia Pacific
Market leaders and key company profiles
Glanbia Plc
NOW Health Group Inc
Amway Corp
Nature's Bounty
Garden of Life LLC
Danone SA
GNC Holdings LLC
Quest Nutrition LLC
Kellanova
Chobani LLC
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Asia Pacific Nutraceuticals Market Company Profiles
Glanbia Plc, NOW Health Group Inc, Amway Corp, Nature's Bounty, Garden of Life LLC, Danone SA, GNC Holdings LLC, Quest Nutrition LLC, Kellanova, and Chobani LLC are among the leading companies operating in the Asia Pacific nutraceuticals market.
Asia Pacific Nutraceuticals Market Country and Regional Insights
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Identical Market Reports with other Region/Countries
The List of Companies - Asia Pacific Nutraceuticals Market
Glanbia Plc
NOW Health Group Inc
Amway Corp
Nature's Bounty
Garden of Life LLC
Danone SA
GNC Holdings LLC
Quest Nutrition LLC
Kellanova
Chobani LLC
Frequently Asked Questions
How big is the Asia Pacific Nutraceuticals Market?
The Asia Pacific Nutraceuticals Market is valued at US$ 156.24 Billion in 2023, it is projected to reach US$ 293.09 Billion by 2031.
What is the CAGR for Asia Pacific Nutraceuticals Market by (2023 - 2031)?
As per our report Asia Pacific Nutraceuticals Market, the market size is valued at US$ 156.24 Billion in 2023, projecting it to reach US$ 293.09 Billion by 2031. This translates to a CAGR of approximately 8.2% during the forecast period.
What segments are covered in this report?
The Asia Pacific Nutraceuticals Market report typically cover these key segments-
Type (Functional Foods, Functional Beverages, Dietary Supplements, General Wellness, Sports Nutrition, Weight Management, Immune Health, Others)
Distribution Channel (Supermarkets and Hypermarkets, Specialty Stores, Online Retail, Convenience Stores, Others)
What is the historic period, base year, and forecast period taken for Asia Pacific Nutraceuticals Market?
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Asia Pacific Nutraceuticals Market report:
Historic Period : 2021-2022
Base Year : 2023
Forecast Period : 2024-2031
Who are the major players in Asia Pacific Nutraceuticals Market?
The Asia Pacific Nutraceuticals Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
Glanbia Plc
NOW Health Group Inc
Amway Corp
Nature\'s Bounty
Garden of Life LLC
Danone SA
GNC Holdings LLC
Quest Nutrition LLC
Kellanova
Chobani LLC
Who should buy this report?
The Asia Pacific Nutraceuticals Market report is valuable for diverse stakeholders, including:
Investors: Provides insights for investment decisions pertaining to market growth, companies, or industry insights. Helps assess market attractiveness and potential returns.
Industry Players: Offers competitive intelligence, market sizing, and trend analysis to inform strategic planning, product development, and sales strategies.
Suppliers and Manufacturers: Helps understand market demand for components, materials, and services related to concerned industry.
Researchers and Consultants: Provides data and analysis for academic research, consulting projects, and market studies.
Financial Institutions: Helps assess risks and opportunities associated with financing or investing in the concerned market.
Essentially, anyone involved in or considering involvement in the Asia Pacific Nutraceuticals Market value chain can benefit from the information contained in a comprehensive market report.
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