Asia Pacific Functional Food Market Report and Forecast 2024-2032

Asia Pacific Functional Food Market Outlook

The Asia Pacific functional food market size was valued at USD 353.42 million in 2023, driven by the increasing awareness about healthcare and consuming highly nutritional food across Asia Pacific. The market size is anticipated to grow at a CAGR of 7% during the forecast period of 2024-2032 to achieve a value of USD 649.75 million by 2032.

Functional Food: Introduction

Functional foods, also known as nutraceuticals, are basically highly nutritious food items which provide numerous healthy benefits and are quite powerful in nature. They provide protection against diseases, revert nutritional deficiencies by promoting better immunity functionality. Dietary supplements are also a type of functional food items which are used to improve overall health of an individual and provide even targeted health benefits. Food items that are loaded with nutritional value are also considered as functional foods, such as fruits and vegetables, that are loaded with vitamins, fibre, probiotics, and minerals.

Asia Pacific Functional Food Market Analysis

The increasing awareness among people about the importance of conducting healthy lifestyles and consuming healthy and balanced diets is significantly adding to the Asia Pacific functional food market growth. Additionally, the key players in the market are also focusing on increasing the range of their products in the functional foods category, such as offering nutritious beverages. The consumption of highly nutritious food items is an absolute necessity, and many key players are introducing products with high nutritious values.

Key players across the region are focusing on products which can meet both nutrient and taste value, at an affordable price point. They are working on the development of products which can help the consumers achieve the nutritional requirement of the body. The development of such food items in the form of supplements is also anticipated to add to the Asia Pacific functional food market development.

The rising awareness about the importance of maintaining good health among the consumers is primarily aiding the market growth. Other factors which are propelling the growth of the market include the rising healthcare expenses and the rising prevalence of diseases triggered by lack of nutrients. The rising trend of fitness and athletic physique is also a key factor leading to increased demand for functional food.

Asia Pacific Functional Food Market Segmentations

Market Breakup by Source

• Plants 

• Animals

Market Breakup by Product Type

• Prebiotics and Probiotics

• Dietary Fibers

• Minerals

• Fatty Acids (Omega-3 Fatty Acids)

• Carotenoids

• Vitamins

• Others

Market Breakup by Applications

• Cardio Health

• Immunity

• Digestive Health

• Sports Nutrition

• Weight Management 

• Clinical Nutrition

• Others

Market Breakup by Distribution Channel

• Store-Based

• Non-Store-Based

Market Breakup by Region

• China

• Japan 

• India 

• ASEAN 

• Australia 

• Others

Asia Pacific Functional Food Market Overview

The increasing awareness about healthcare and consuming highly nutritional food is increasing the demand for functions food in the Asia pacific region. Increasing availability and affordability of functional foods across different distribution channels has also been contributing to the Asia Pacific functional food market expansion. More people choosing to consume functional foods to maintain a healthy lifestyle is creating high demand in the market which is making key players in the market to manufacture more functional food so as not to distress the supply chain in the market. The rapid development of fitness and healthcare sector in the region are also anticipated to add to the overall market in the coming years.

Asia Pacific Functional Food Market: Competitor Landscape

The key features of the market report include patent analysis, grants analysis, clinical trials analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players. The major companies in the market are as follows:

• MEIJI Holdings Co Ltd. 

• Nestle 

• Yakult Honsha Co Ltd. 

• The Coca-Cola Company 

• BASF SE 

• Kellogg Company 

• GlaxoSmithKline Company 

• PepsiCo Inc. 

• General Mills, Inc. 

• Agro Tech Foods Ltd.

Key Highlights of the Report