Market Trends of Asia-Pacific Nutraceutical Industry
This section covers the major market trends shaping the APAC Nutraceutical Market according to our research experts:
Growing Consumption of Functional Food and Beverages
- Consumers in the Asia-Pacific region are becoming aware of their health and well-being. Their preference for functional food and beverages is increasing owing to their benefits. The young consumers in the region are becoming aware of their health and fitness and are engaging in fitness activities.
- Due to this, young millennials are opting for dietary supplements and energy drinks. Considering the demand, market players are also launching new products with different and unique flavors. For instance, in February 2022, Red Bull India launched a new energy drink with a watermelon flavor. The product is available across e-commerce platforms like Amazon, Big Basket, and Flipkart.
- Additionally, changing eating habits, a lack of physical activity and a rise in sedentary lifestyles have all contributed to the increasing prevalence of lifestyle diseases such as diabetes, high blood pressure, obesity, and cardiovascular problems. Because of this, the consumption of functional food and beverages is increasing in the region.
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China Dominates the Market
- The market for nutraceuticals in China will likely showcase favorable growth prospects in the future due to growing awareness about health and wellness among the urban population and the growing disposable income of the Chinese population. Chinese supplements use a high composition of natural plant extracts with proven effectiveness, which are safe to use.
- The majority of the population in China is old age population and the increasing prevalence of old age diseases like arthritis, cardiovascular diseases, and other chronic diseases are making the consumers shift towards the consumption of nutraceuticals.
- Additionally, due to an increasing number of lactose intolerant populations, consumption of plant-based products is increasing. The market players in the country are launching new products with innovative approaches to grab consumer attraction.
- For instance, in May 2021, the Chinese plant-based snacking company, Marvelous Foods, launched Yeyo Coconut yogurt on the e-commerce platform, Tmall. Yeyo is plant-based coconut yogurt with zero added sugar, artificial flavors, and sweeteners.
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