Asia Pacific Nutraceuticals Market

Asia Pacific Nutraceuticals Market Growth and Forecast (2023 - 2028):

The Asia Pacific Nutraceuticals Market size is foreseen to develop at a compound annual growth rate of about 7.4% during the forecast period. The growing demand for dietary supplements with health benefits is one of the main factors driving the growth of the APAC Nutraceuticals Market.

Market Overview:

Nutraceuticals are effective agents that control obesity, improve skin, and are also administered during cancer treatment. This provides the core vitality of the market for Nutraceuticals and is expected to prosper due to the wide acceptance of them. Nutraceuticals are considered as food sources that have extra medical advantages alongside the fundamental healthy benefit of nourishments. It can be considered a non-specific biological therapy used to promote safety, control symptoms and avoid malignant processes. The surge in prevalence of chronic diseases like diabetes, hypertension, obesity, and others, the call for nutraceuticals is deemed to extend during the calculated period. Nutraceuticals provide medicinal and health benefits, and improves the nutritional value of foods.

Recent Developments in Asia Pacific Nutraceuticals Industry:

• In August 2018, ADM declared that it will add Onavita algae growth DHA powder to its existing line of Omega-3 item arrangements.
• In December 2017, Arla Foods and PT Indofood CBP Sukses Makmur Tbk (Indonesia) have planned to initiate a joint venture to extend the presence of Arla Foods in Indonesia.

Asia Pacific Nutraceuticals Market Growth:

There has been an incline in the number of nutrition care professionals, such as nutritionists and dietitians, which results in increased awareness related to functional food products and dietary supplements.

Drivers:

The rise in the application of these nutraceuticals in the treatment of cardiovascular disease and malnutrition is majorly supporting the expansion of the regional market. Also, the augmented health care costs and incline in the elderly population are deemed to encourage the growth of the APAC Nutraceuticals Market during the expected period. In addition, the health and fitness industry has complemented the growth of the market. People tend to exercise to cultivate their bodies, which is a great addition to the industry. Additionally, functional food therapy is used in prophylactic therapy, which has strengthened market demand and has since set a goal for an increasing number of players to exploit the market gap. Growth in the dietary supplement market will accelerate during the forecast period of higher disposable income, increased consumer awareness of health problems, and rapid urbanization. A growing trend among consumers who change their eating habits will increase the demand for APAC Nutraceuticals Market. With the increase in weight management programs coupled with cardiovascular disease, a positive outlook for medical nutrition is expected to stimulate demand for APAC Nutraceuticals Market. The consumer's belief that the cost of medications will increase due to an inadequate diet will increase the demand for functional foods. This will also help governments to help reduce health care costs and social security costs. The APAC Nutraceuticals Market has witnessed significant advances in product innovation and portfolio expansion in recent years. As the demand for milk and meat increases, pet food manufacturers have added the functional feed to pet food.

 Furthermore, the growing awareness among consumers about the benefits of a nutritional diet and the demand for natural beauty products is encouraging the development of the APAC Nutraceuticals Market. With the rising knowledge of drug side effects, consumers around the world are turning towards healthier foods and dietary supplements derived from natural products. As dietary supplements increase, consumption of dietary supplements and functional products is also expected to increase. The region's dietary supplement market is expected to provide a great investment opportunity, especially for herbal and ayurvedic products. The awareness of nutritional enhancers and the development of innovative enriched food products increased. Within dietary supplements, the demand for protein and plants is increasing among Indian consumers. Vitamins are most often used in Nutraceuticals Market among Australian consumers. Pediatric health supplements are the fastest-growing segment in China with strong sales. Increased health spending in the Asia-Pacific region is expected to offer favorable growth opportunities for the APAC Nutraceuticals Market.

Restraints:

However, the lack of proper information about Nutraceuticals is a factor that primarily restricts the growth of the APAC Nutraceuticals Market. Also, the prices of Nutraceuticals are relatively higher than pharmaceuticals. The main difference between functional food and prices is forcing consumers to choose cheaper drugs. Despite many positive factors, rising functional food prices especially limit consumption in underdeveloped countries.

Impact of COVID-19 on the APAC Nutraceuticals Market:

The demand for Nutraceuticals is expected to skyrocket as consumers choose immune-boosting supplements during the COVID-19 epidemic. The corona virus affects all industries, in particular, food and beverage sector. The long-term impact is still unpredictable, but many key figures in the Nutraceuticals sector suggest that the market has seen tremendous growth during the pandemic.

Asia Pacific Nutraceuticals Market Segmentation Analysis:

By Application:

• Functional Foods   
• Functional Beverages       
• Dietary Supplements        
• Personal Care        
• Animal Nutrition    

Regional Analysis:

The Asia-Pacific region has turned to be a crucial region in the global Nutraceuticals Market in 2019 as consumer health concerns increase and awareness of dietary supplements increases. In addition, the growth of the Nutraceuticals Market industry in the Asia-Pacific region has improved due to an aging population, changes in spending patterns of medical devices, and changes in lifestyle. China's Nutraceuticals Market is expected to show favorable growth prospects in the future as the disposable income of the Chinese population increases and the health and health awareness of the urban population increases. There is a growing demand for plants in the dietary supplement sector. As China's food consumption pattern has changed significantly, consumers are increasingly favoring protein bars. India is expected to show strong growth in the Asia-Pacific healthy food market, with a preference for Nutraceuticals Market products over pharmaceuticals. The changing lifestyle and increasing knowledge of the health benefits provided by Nutraceuticals Market products are driving demand among urban consumers in the Asia Pacific region, which is supposed to show the highest growth in the future.

Key Players in the Market:

Major Key Players in the APAC Nutraceuticals Market are

• ADM Company                
• Cargill Inc              
• Royak DSM N.V.              
• BASF SE                 
• Nestle S.A.            
• Groupe Danone S.A          
• E. I. du Pont de Nemours and Company          
• PepsiCo Inc           
• Aland (Jiangsu) Nutraceutical Co., Ltd            
• General Mills Inc