APAC Mineral Enriched Food & Beverage Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 7.80 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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APAC Mineral Enriched Food & Beverage Market Analysis
Asia-Pacific vitamin fortified and mineral enriched food & beverage market is projected to grow at a CAGR of 7.8% during the forecast period of 2020-2025.
- In Asia-Pacific, millennial or young working adults are the major target audience for the fortified food industry. They are young and much more open to changes in conventional products. Additionally, this group of consumers is more educated to recognize the added ingredients and are willing to pay more for these products with higher health benefits.
- Moreover, consumers are more likely to buy it for themselves as well as for their children, as compared to the older population. Therefore, with the increase in population, changes in buying patterns, and growing health concerns, the market share of vitamin fortified and mineral enriched food in the Asia-Pacific region is set to increase.
APAC Mineral Enriched Food & Beverage Market Trends
This section covers the major market trends shaping the APAC Mineral Enriched Food & Beverage Market according to our research experts:
Growing Demand for Functional Ingredient fortified Food
The growing population and change in food fashion among the younger generation are the major drivers for the market. Individuals are more concerned about health and are willing to pay extra for food that is specifically beneficial to health. Therefore this tendency and awareness among people help the vitamin fortified and mineral enriched food and beverage market to grow. The market share in developed countries is captured by health-conscious people, such as pregnant women, guardians of infants and the older population, as they are mostly aware of the benefits associated with functional ingredient fortified food and beverages. However, in developing countries, there is an increase in health concern among people as well, due to enhanced disposable income, which drives the market to grow in the forecast period.
China holds a Prominent Share in the Market Studied
The market for vitamin fortified and mineral enriched food & beverage in China is likely to showcase favorable growth prospects in the future, on account of growing awareness about health and wellness among the urban population, together with the growing disposable income of the Chinese population. Chinese are using up a high composition of natural plant extracts with proven effectiveness, which are safe to be used. Vitamin-based food mainly dominates the market. More than 200 producers of these products are involved in manufacturing functional beverages. Food consumption patterns in China have changed significantly, with consumers increasingly preferring protein bars.
APAC Mineral Enriched Food & Beverage Industry Overview
Asia-Pacific Vitamin Fortified and Mineral Enriched Food & Beverage Market is fragmented and competitive in nature having a large number of domestic and multinational players competing for market share. Companies focusing on new product launches with healthier ingredients/organic claims along with acquisition, merger, partnership, and expansions as their key marketing strategy. Some of the major players in the market studied are Abbott, KELLOGG Company, Nestle, Amway, among others.
APAC Mineral Enriched Food & Beverage Market Leaders
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Abbott
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Nestle SA
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Kellogg Company
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PepsiCo, Inc.
*Disclaimer: Major Players sorted in no particular order
APAC Mineral Enriched Food & Beverage Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Deliverables
- 1.2 Study Assumptions
- 1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Drivers
- 4.2 Market Restraints
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4.3 Porter's Five Forces Analysis
- 4.3.1 Threat of New Entrants
- 4.3.2 Bargaining Power of Buyers/Consumers
- 4.3.3 Bargaining Power of Suppliers
- 4.3.4 Threat of Substitute Products
- 4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
-
5.1 By Product Type
- 5.1.1 Cereal based products
- 5.1.2 Dairy Products
- 5.1.3 Beverages
- 5.1.4 Infant Formulas
- 5.1.5 Others
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5.2 By Application
- 5.2.1 Supermarket/Hypermarket
- 5.2.2 Convenience Stores
- 5.2.3 Pharmacy/Drug Store
- 5.2.4 Online Retail Store
- 5.2.5 Others
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5.3 By Geography
- 5.3.1 China
- 5.3.2 Japan
- 5.3.3 India
- 5.3.4 Australia
- 5.3.5 Rest of Asia-Pacific
6. COMPETITIVE LANDSCAPE
- 6.1 Most Active Companies
- 6.2 Most Adopted Strategies
- 6.3 Market Share Analysis
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6.4 Company Profiles
- 6.4.1 Abbott Laboratories
- 6.4.2 Kellogg Company
- 6.4.3 Nestle SA
- 6.4.4 PepsiCo, Inc.
- 6.4.5 Amway Corporation
- 6.4.6 The Coca-Cola Company
- 6.4.7 The Hain Celestial Group, Inc.
- 6.4.8 Campbell Soup
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
APAC Mineral Enriched Food & Beverage Industry Segmentation
Global vitamin fortified and mineral enriched food & beverage market segmented by Product Type, distribution channel, and geography. On the basis of product type, the market is segmented into Cereal based products, Dairy Products, Beverages, Infant Formulas, Others. On the basis of the distribution channels, the market is segmented into Supermarket/Hypermarket, Convenience Stores, Pharmacy/Drug Store, Online Retail Store, Others. On the basis of geography, the study provides an analysis of the vitamin fortified and mineral enriched food & beverage market in the emerging and established markets across the region, including China, Japan, India, Australia, and Rest of Asia-Pacific.
| By Product Type | Cereal based products |
| Dairy Products | |
| Beverages | |
| Infant Formulas | |
| Others | |
| By Application | Supermarket/Hypermarket |
| Convenience Stores | |
| Pharmacy/Drug Store | |
| Online Retail Store | |
| Others | |
| By Geography | China |
| Japan | |
| India | |
| Australia | |
| Rest of Asia-Pacific |
APAC Mineral Enriched Food & Beverage Market Research FAQs
What is the current Asia-Pacific Vitamin Fortified and Mineral Enriched Food & Beverage Market size?
The Asia-Pacific Vitamin Fortified and Mineral Enriched Food & Beverage Market is projected to register a CAGR of 7.80% during the forecast period (2024-2029)
Who are the key players in Asia-Pacific Vitamin Fortified and Mineral Enriched Food & Beverage Market?
Abbott, Nestle SA, Kellogg Company and PepsiCo, Inc. are the major companies operating in the Asia-Pacific Vitamin Fortified and Mineral Enriched Food & Beverage Market.
What years does this Asia-Pacific Vitamin Fortified and Mineral Enriched Food & Beverage Market cover?
The report covers the Asia-Pacific Vitamin Fortified and Mineral Enriched Food & Beverage Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Asia-Pacific Vitamin Fortified and Mineral Enriched Food & Beverage Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Asia-Pacific Vitamin Fortified and Mineral Enriched Food & Beverage Industry Report
Statistics for the 2024 Asia-Pacific Vitamin Fortified and Mineral Enriched Food & Beverage market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Asia-Pacific Vitamin Fortified and Mineral Enriched Food & Beverage analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
Asia-Pacific Vitamin Fortified and Mineral Enriched Food & Beverage Report Snapshots
- Asia-Pacific Vitamin Fortified and Mineral Enriched Food & Beverage Market Size
- Asia-Pacific Vitamin Fortified and Mineral Enriched Food & Beverage Market Share
- Asia-Pacific Vitamin Fortified and Mineral Enriched Food & Beverage Market Trends
- Asia-Pacific Vitamin Fortified and Mineral Enriched Food & Beverage Companies
