NEWARK, Del, Oct. 23, 2023 (GLOBE NEWSWIRE) -- According to the FMI, the APAC heart health functional food market has a market value worth US$ 477.6 million in 2022, and it is anticipated to rise at a steady CAGR of 6.3% from 2023 to 2033 to reach US$ 913 million in market value.
The rising tide of health consciousness is fueling the popularity of heart health supplements. With an array of options available, individuals often find themselves grappling with choices. Among the most sought-after heart health supplements are fish oil supplements, CoQ10 supplements, and magnesium supplements, which continue to enjoy significant consumer interest in the quest for heart wellness.
A recent survey by Future Market Insights (FMI) reveals that consumers are increasingly turning to food products responsible for promoting sleep, improving mood, boosting energy levels, maintaining heart health, and aiding in weight management.
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The growing demand for food with added benefits, especially for heart-health functional food, has created a high potential for manufacturers of heart health food in the Asia-Pacific market. Companies are launching new omega-3-based ingredients and products that target the heart health functional food market.
Increasing Cardiovascular Disease Cases to Bolster Growth
The growing emphasis on tailor-made functional food products by manufacturers, coupled with the escalating prevalence of cardiovascular diseases in the Asia-Pacific (APAC) region, is poised to drive market growth. In 2019, the World Health Organization reported a staggering annual toll of 1 million lives in the Western Pacific region due to cardiovascular diseases linked to tobacco use.
Smoking remains a leading cause of more than 1 in 5 cardiovascular diseases, encompassing heart attacks and strokes. Consequently, the increasing incidence of cardiovascular ailments in the APAC region is expected to serve as a catalyst for market expansion.
Key Takeaways from the Market Study
- The market value of the APAC heart health functional food market was estimated to be US$ 431.1 million in 2018.
- Sales in the APAC heart health functional food market increased significantly between 2018 and 2022, with a CAGR of 2.6%.
- Breakfast cereals accounted for 45.8% of the APAC market in 2022.
- Through 2033, functional foods are anticipated to continue to dominate the Japanese market for heart health, growing at a rate of around 6.2% per year.
- The Indian market for functional foods for heart health would hold a 21.9% market share in 2022.
- The Chinese market for functional foods for heart health is anticipated to rise from 2023 to 2033.
“The APAC heart health functional food industry is a market for food items designed primarily to support cardiovascular wellness and lower the risk of heart disease among regional consumers, thereby propelling the growth.” says Nandini Roy Choudhury, Client Partner for Food & Beverages at Future Market Insights, Inc.
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Competitive Landscape
The need for functional foods for heart health has grown in recent years with rising health consciousness. Manufacturing enterprises are likewise keen on expanding their market presence through the development of new goods and the expansion of current plants. The following are some significant advancements in APAC heart health functional food industry:
- Probiotics, omega-3 fatty acids, and folic acid supplements are among the items that GM Pharm offered on the online shopping platform Rakuten in October 2019. One of the top companies in Japan is Rakuten, and GM Pharm has high aspirations for proving that functional health products from Korea are recognized in Japan. Health functional food supplements are the primary focus of the medical researchers as well as pharmacists of GM Pharm.
- A new cereal from Kellogg was introduced with the goal of providing a 3-in-1 boost to intestinal health. The finest ingredients in Happy Inside's morning cereal are combined with prebiotics, fiber, and probiotics to promote complete digestive health. The breakfast division of Kellogg is taking the next step towards functional meals with this new introduction. Producing and marketing ready-to-eat cereal along with convenience meals is the business of Kellogg Co. (Kellogg). Cereals, crackers, cookies, savory snacks, toaster pastries, frozen waffles, fruit-flavored snacks, cereal bars, and vegetable meals are all included in its product line.
Leading Players
- Nestlé S.A.
- The Kellogg Company
- Marico Ltd.
- Raisio plc.
- Associated British Foods
- Kalbe Farma Tbk
- Bagrry’s India Ltd.
- PepsiCo, Inc.
- Ruchi Soya Industries Ltd.
- ConAgra Foods, Inc.
Market Segmentation
By Type:
- Breakfast Cereals
- Dairy Products
- Edible Oils
- Nutritional Bars
- Others
By Distribution Channel:
- Hypermarkets
- Supermarkets
- Departmental Stores
- Grocery/ Retailers
By Country:
- India
- China
- Japan
- Singapore
- Indonesia
- Thailand
- Malaysia
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Author:
Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives. She has exceptional analytical skills and often brings thought leadership to the table.
Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.
Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor’s Degree in Electrical Engineering from Nagpur University, India. Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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