SEATTLE--(BUSINESS WIRE)--Heart health functional foods are rich in ingredients that promote heart health. Increasing public awareness of heart health is boosting development and demand for heart health functional foods.
APAC heart health functional foods market accounted US$ 395.5 Mn in terms of value by the end of 2019 and is estimated to account for US$ 668.8 Mn by end of 2027.
Increasing prevalence of cardiovascular diseases is expected to propel growth of APAC heart health functional foods market. For instance, according to the study, ‘Cardiovascular Diseases in India Compared With the United States, published in July 2018, in the Journal of the American College of Cardiology, the estimated age-standardized prevalence of cardiovascular diseases in India in 2016 was 5,681 per 100,000.
Moreover, increasing geriatric population is also expected to aid in growth of the market. For instance, according to United Nations Population Fund, geriatric population in Asia Pacific is expected to triple between 2010 and 2050 to reach 1.3 billion people by 2050.
R&D in functional foods is expected to offer lucrative growth opportunities for players in APAC heart health functional foods market. For instance, in May 2020, researchers from University of Helsinki, Finland, reported evaluating the potential of spruce galactoglucomannan -stabilized emulsions to deliver bioactive compounds through in vitro digestion.
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On the basis of product type, dairy products segment held dominant position in the APAC heart health functional foods market in 2019, accounting for 30.3% share in terms of value, followed by edible oil and breakfast cereal Dairy products have a high rate of consumption owing to the presence of calcium, vitamin D and proteins among other essential nutrients. Apart from this, dairy products also provide phosphorus, vitamin A, B12, and magnesium. Further, as per the UN Comtrade data, in 2019, China, Hong Kong SAR was among the top importers of dairy products with a total value of US$ 7,550,596 Mn.
On the basis of distribution channel, supermarket segment held the dominant position in the APAC heart health functional foods market in 2019, accounting for 36.7% share in terms of value, followed by departmental stores. Supermarket customers are primarily local residents and small businesses that periodically need to replenish their stock of household products. Supermarkets have established trust among consumers due to their convenient services and attractive offers. Some customers prefer a particular supermarket to buy organic baby food from their nearby region. Such factors are expected to drive growth of the supermarkets segment in the APAC heart health functional foods market during the forecast period.
On the basis of the countries, Japan dominated the APAC heart health functional foods market in 2019 with a 29.1% of market share in terms of value, followed by China and India. The heart health functional foods market is expected to dominate the APAC market during the forecast period owing to the increasing demand for dairy products and edible oil from Japan. For instance, as per the UN Comtrade data, in 2019, Japan was among the top importers of dairy products which valued around US$ 3,830,769 Mn. Further, according to the United States Department of Agriculture’s (USDA) report on Japan Dairy and Products published in 2018, Japanese cheese consumption grew seven percent on a volume basis in 2017 and eight percent in the first eight months of 2018.
The demand for functional foods with physiologically active ingredients derived from plants is increasing, owing to increasing preference for vegan food. For instance, according to The Vegan Society, the number of people consuming only vegetarian food in the U.K. increased from 276,000 in 2016 to 600,000 in 2019.
Fish is considered as an important heart health functional food, due to its rich nutritional values. Fish is a major source of essential amino acids, elemental sources of dietary vitamins and minerals, including zinc (marine fish), iron, calcium, phosphorus, iodine, selenium, vitamin A, D, E, several B vitamins (B3, B6, and B12), important amounts of PUFAs and various other micronutrients.
Major players operating in APAC heart health functional foods market 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.
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By Product Type
- Breakfast Cereals
- Dairy Products
- Edible Oil
- Nutritional Bars
- Others (Eggs & Wine)
By Distribution Channel
- Departmental Store
- Grocery/ Retailer