The Asia Pacific Functional Food Market would witness market growth of 8.9% CAGR during the forecast period (2021-2027). In Asia, functional foods have been considered as a crucial aspect of some cultures since many years. However, the term functional food was not utilized formally. Amongst the Japanese and Chinese, for example, foods and medicine are regarded as highly essential in preventing and treating diseases as they originate from the same source and have similar uses.
It would be thus understandable to anticipate that the functionality of functional foods should be found in whole foods instead of their individual elements. Japan is the first country in the world to have the definition of functional foods, though the term is not utilized in its regulatory system. In the last some years, there has been a swift increment in the activities on the subject, particularly in the areas of research and development, regulatory discussions and on trade & marketing of functional foods.
Moreover, the global functional food market is expected to witness massive growth due to the positive landscape of food and beverage sector, specifically in India, and China. Increasing domestic consumption of food and beverages on account of the massive growth of retail network, unique product launches, and population growth would promote development across BRICS nations. In addition to it, the market growth is further driven by the governmental support for facilitating Foreign Direct Investments (FDI) at domestic level in BRICS due to the political change, specifically in India and China, focused at enhancing the manufacturing output would accelerate the growth.
The China market dominated the Asia Pacific Prebiotics & Dietary Fibers Market by Country 2020, thereby, achieving a market value of $6,031.7 million by 2027. The Japan market is showcasing a CAGR of 8.7% during (2021 - 2027). Additionally, The India market is anticipated to witness a CAGR of 9.9% during (2021 - 2027).
Based on Application, the market is segmented into Cardio Health, Sports Nutrition, Clinical Nutrition, Weight Management, and Others. Based on Product, the market is segmented into Dairy Products; Meat, Fish & Eggs; Bakery & Cereals; Soy Products; Fats & Oils and Others. Based on Ingredient, the market is segmented into Vitamins; Proteins & Amino Acids; Prebiotics & Dietary Fibers; Minerals; Probiotics and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Functional Food Market is Projected to reach USD 259.7 Billion by 2027, at a CAGR of 8.5%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Danone S.A., Glanbia PLC, Mars, Inc., Meiji Holdings Co., Ltd., Nestle S.A., Royal Frieslandcampina N.V., The Kraft Heinz Company, Hearthside Food Solutions LLC, Raisio PLC, and Sanitarium Health and Wellbeing Company.
By Application
By Product
By Ingredient
By Country
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