APAC HEART HEALTH FUNCTIONAL FOOD MARKET ANALYSIS

APAC heart health functional food market was valued at US$ 538.1 million in 2022 and is estimated to reach a value of US$ 883.8 million by 2030, exhibiting a CAGR of 6.40% between 2023 and 2030. Asia Pacific (APAC) heart health functional food market is a market for the food products that are specifically formulated to promote cardiovascular health, and to reduce the risk of heart diseases in consumers in the APAC regions. Heart health functional food include ingredients such as Omega-3, fatty acids, fiber, plant sterols, and antioxidants that have positive effects on health heart. These products are positioned as a more healthful substitute for conventional processed foods and snacks that are high in saturated fats, sodium, and other ingredients that can increase the risk of heart disease.

APAC Heart Health Functional Food Market- Impact of Coronavirus (Covid-19) Pandemic

The COVID-19 pandemic had a mixed impact on the Asia Pacific (APAC) market. The pandemic led to increase in consumer interest in preventive health and wellness, and this boosted demand for functional foods that support cardiovascular health. Consumers have become more health-conscious due to the pandemic that lead to focus on healthy eating and lifestyle habits. The pandemic has also disrupted supply chains and caused economic uncertainty, which impacted the overall food and beverages industry. For instance, many manufacturers modify their distribution and production measures to deal to with the pandemic, which made it difficult to meet consumer demand for heart-healthy functional foods. Overall covid-19 pandemic had a mixed impact on the ASAP heart health functional food market.

APAC Heart Health Functional Food Market- Drivers

• Increasing Cases of Cardiovascular Disease

Rising cases of cardiovascular disease in the APAC region coupled with increasing focus of functional food producer for developing application-specific product is expected to drive the the market growth. According to the report published by the World Health  organization, in May 2018, 1 million people in the Western Pacific Region die every year from cardiovascular disease caused by consuming tobacco. More than 1 in 5 cardiovascular diseases such as heart attack and stroke occurs due to smoking. Therefore, rising number of cardiovascular disease in the APAC region is expected to drive the market growth.

• Rising Geriatric Population and Increasing Health Awareness

Rising geriatric population and increasing health awareness among the people is encouraging government, health care professionals, researchers, and functional food producers companies to meet the evolving demands of consumers. For instance, in October 2019,  © DolCas Biotech, LLC., a nutraceutical company, launched a clean label blend of botanical extracts that is beneficial for the heart and liver health. The mixture offers various dosage strengths for enhanced applications in food, beverages, and supplements. 

APAC Heart Health Functional Food Market- Restraints

• False and misleading advertisement of the health food brands

False and misleading advertisement of the health food brands, may get changes in consumer behaviour and this is expected to hinder the market growth. For instance, according to the report published by the Asia Pacific Food Industry (APFI) in May 2017, despite the country's stricter regulations, false health claims are still widely used in Indonesia. Moreover, Indonesia’s National Agency of Drug and Food (BPOM), in 2016, stated that functional food with health claims have to be approved, and food producers have to ensure all health claims have evidence that has been scientifically proven. This factor may hinder the growth of the APAC heart health functional food market in forecast period.

Figure 1. APAC Heart Health Functional Food Market, By Distribution Channel, 2022

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Among distribution channel, the hypermarkets segment accounted for the largest revenue share of 52.30% in 2022 in the APAC heart health functional food market. These stores offer a wide range of products and attract a large number of consumers.

Departmental stores are another important distribution channel for heart health functional foods, particularly in urban areas where consumers prefers quick and convenient healthy options.

APAC Heart Health Functional Food Market - Regional Insights

Japan is the largest region in the APAC heart health functional food market with revenue share of 33.40%. Japan is expected to have the highest value share of the functional food market for heart health in the Asia Pacific region in 2021. Over the forecast period, functional foods are expected to continue to dominate the Japan market for heart health.

China is another major market for manufacturers of heart health functional food. Various government agencies throughout the China region is developing and implementing new standards for the consumption of heart health functional food.

Figure 2. APAC Heart Health Functional Food Market, By Region, 2022

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APAC Heart Health Functional Food Market - Recent Developments

• In November 2018, Kellogg, launched a new cereal designed to pack a 3-in-1 punch for a healthy gut. Hi! Happy Inside combines fiber, prebiotics, and probiotics with premium ingredients for full digestive health for morning cereal. This product launch is the next step into functional foods for Kellogg’s breakfast arm. Kellogg Co (Kellogg) is a producer and marketer of ready-to-eat cereal and convenience foods. Its product portfolio includes cereals, cookies, crackers, savory snacks, frozen waffles, toaster pastries, cereal bars, fruit-flavored snacks, and veggie foods.
• In December 2020, Nestlé, introduced a milk product for adults that include a unique combination of constituents backing the three pillars of mobility: bone health, muscle strength, and joint functionality. The powdered beverage under the YIYANG active brand has been clinically approved to improve mobility during aging, and it is the first Nestlé product with functional food authorization in China. Nestlé had been working on the growth of YIYANG®Active and the scientific substantiation of its health claims.
• In March 2020, Dolcas Biotech, launched bergamot and artichoke formulation in the U.S. Bergacyn for heart and liver health has been planned to be clean label and sustainable with the bergamot compound utilized upcycled from the perfume industry. The novel formulation is presently U.S.DA and EU organic certified.
• In October 2019, GM Pharm, a company that manufactures probiotics, omega-3, and folic acid products, launched its products on Rakuten, a Japan-based online sales marketplace. Rakuten is one of the leading company in Japan, and GM Pharm has soaring hopes to demonstrate the recognition of Korean health functional products in Japan. GM Pharm has medical researchers and pharmacists who focuses on developing, generating, and marketing health functional food supplements.

APAC Heart Health Functional Food Market - Key Players

Major players  in the market are Marico Ltd., Kellogg Company, Raisio Plc, Nestle S.A., Kalbe Farma Tbk, Associated British Foods, Ruchi Soya Industries Ltd., Bagrry’s India Ltd., PepsiCo, Inc., and ConAgra Foods, Inc.

*Definition: Functional foods are foods that, by virtue of physiologically active food components, provide health benefits beyond basic nutrition. Many functional foods are potentially beneficial in the prevention and treatment of cardiovascular disease, the leading cause of mortality in the U.S.