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. According to APAC Heart Health Functional Food Market Report, By Product Type (Breakfast Cereals, Dairy Products, Edible Oil, Nutritional Bars, and Others (Eggs & Wine)), By Distribution Channel (Hypermarket, Supermarket, Departmental Store, and Grocery/ Retailer), and By Country(China, India, Japan, Singapore, Indonesia, Thailand, and Malaysia) as published by Coherent Market Insights.
Functional foods with various micronutrients have positive impact on heart health. Studies claim that consumption of functional food reduces the risk of various cardiovascular diseases. Certain functional food regulates the cholesterol level in blood, stabilizes the heart rhythm, and protects the arterial lining. Moreover, functional foods are believed to influence factors such as triglycerides and inflammation that can trigger various heart diseases. Therefore, consumption of functional food enhances heart health.
Statistics:
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 at a CAGR of 6.40% between 2023 and 2030.
APAC Heart Health Functional Food Market- Driver
Cost of healthcare products has increased over the recent years due to inflation. Increasing cost of healthcare is shifting consumer’s preference to adopt functional food, as it offer health benefits such as it boosts immune system, prevents from cold and flu, and headaches, provide relief from pain of arthritis, rheumatic diseases, allergies, reduces the cholesterol and triglyceride levels, and protect against cardiovascular and cognitive diseases. This factor is expected to drive the market growth of heart functional foods in the APAC region.
APAC Heart Health Functional Food Market- Market Opportunities
Low cost of raw materials and low labor cost in the APAC reduce the overall cost of heart health functional food. This is expected to create enormous growth opportunities for the market. Moreover, this factor is expected to open new doors of opportunity to the new entrant in the APAC region. Over the last few years, the revenue of APAC heart health functional food market has been increased drastically due to which producers in developing countries are focusing on export of food products to meet the growing demand from other developed countries. Therefore, this factor is expected to drive the market growth of the APAC heart health functional food market.
APAC Heart Health Functional Food Market- Restraints
False and misleading advertisement of the health food brands is breaking the consumer trust and this is expected to impact the market growth negatively. For instance, according to the report published by the Asia Pacific Food Industry (APFI) in May 2017, false health claims are still prevalent in Indonesia though rules are stricter in the country. 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.
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https://www.coherentmarketinsights.com/market-insight/apac-heart-health-functional-food-market-3188
Key Takeaways:
Among product type, dairy products segment was valued at US$ 520.9 Mn in 2022 and is estimated to reach a value of US$ 741.0 Mn by 2027 at a CAGR of 7.5% between 2023 and 2030, owing to the health benefits associated with dairy products. These products decreases the absorption of cholesterol, and controls blood pressure.
Hypermarkets segment held significant market share in APAC heart health functional market in 2022, accounting for 52.30% share in terms of value, followed by departmental store.
Supermarket customers are primarily local residents and small businesses that periodically need to replenish their stock of household products. Supermarkets have established trust among the consumers, due to its convenient services and attractive offers. Many customers prefer a particular supermarket to purchase functional food. This are expected to drive growth of the supermarkets segment in the APAC heart health functional food market.
APAC Heart Health Functional Food Market-Trends
Change in the demographic condition in the region and rapid growth in various chronic diseases due to rising adoption of western lifestyle and increasing aging population. For this people are seeking better preventive measures in order to avoid omega-3 deficiency in the body which has encouraged the people to increase the intake of EPA and DHA Omega-3 dietary supplement. This is also projected to propel the market growth of heart nutritional food.
Increasing death rates in Singapore due to heart-related problems in the country has raised awareness among the consumers regarding the consumption of nutritional food products. According to the Singapore Heart Foundation, cardiovascular disease accounted for 31.2% of all deaths in 2022. 1 out of 3 deaths that occursin Singapore is due to heart-related disorder or stroke. This factor is projected to boost the market growth of APAC heart health functional food market over the forecast period.
APAC Heart Health Functional Food Market- Competitive Section
Major market players include 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.
APAC Heart Health Functional Food Market- Recent Developments
- In 2015, Lotte Foods Co. Ltd. partnered with Raisio Plc., to launch Benecol yogurt drinks in the form of health functional food in South Korea, by integrating Lotte's dairy brand Pasteur into Raisio’s Benecol.
- In May 2016, Nestlé S.A., launched Omega Plus Milk with Oats, a breakfast drink that contains milk with oats, in Malaysia. The product is available in convenient single-serve sachets at various hypermarkets and supermarkets such as AEON BIG, GIANT, TESCO, and ECONSAVE.
