Supermarkets and Hypermarkets Segment to Dominate Asia-Pacific Functional Foods Market during 2019–2028

According to a new market research study on “Asia-Pacific Functional Foods Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Product Type, Category, and Distribution Channel,” is expected to reach US$ 147,081.46 million by 2028 from US$ 80,318.62 million in 2021. The market is estimated to grow at a CAGR of 9.0% from 2021 to 2028. Surging demand for nutrient enriched food is the major factor driving the growth of the Asia-Pacific functional foods market. However, higher prices of functional foods may hinder the growth of Asia-Pacific functional foods market. The report provides trends prevailing in the Asia-Pacific functional foods market along with the drivers and restraints pertaining to the market growth.

The Asia-Pacific functional foods market is segmented by product type, category, distribution channel, and country. Based on product type, the Asia-Pacific functional foods market is segmented into bakery and confectionery, dairy and frozen desserts, sweet and savory snacks, breakfast cereals, and others. In 2020, the dairy and frozen desserts segment held the largest share Asia-Pacific functional foods market. Based on category, the Asia-Pacific functional foods market is segmented into organic and conventional. In 2020, the conventional segment held the largest share Asia-Pacific functional foods market. Based on the distribution channel, the Asia-Pacific functional foods market is segmented into supermarkets and hypermarkets, specialty stores, online retail, and others. In 2020, the supermarkets and hypermarkets segment held the largest share Asia-Pacific functional foods market. Similarly, based on country, the Asia-Pacific functional foods market is segmented into China, Japan, India, Australia, South Korea, and the rest of Asia-Pacific. China contributed a substantial share in 2020. 

Abbott; Clif Bar & Company; Danone S.A.; GENERAL MILLS, INC; HILDUR; Kellogg Company; Laird Superfood; Nestlé SA; and Unilever PLC are among the leading companies in the Asia-Pacific functional foods market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market.

 
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