Key Growth Influencers - Heart Health Functional Food Market
Health Benefits of Omega 3-based Products
The growing demand for food with added benefits, especially for heart health functional food, has created a high potential for manufacturers of heart health food in the Asia-Pacific market. Companies are launching new omega-3-based ingredients as well as products that target the heart health functional food market.
- DSM launched OatWell, an oat beta-glucan fiber product, especially for health-conscious customers. OatWell helps to reduce the risk of cardiovascular diseases, lowers cholesterol levels, and controls levels of glucose in the blood.
- Cargill launched an omega-3 oil blend, and easy to use food ingredient, for food manufacturing companies. The addition of this oil blend boosts nutritional benefits of food products. This oil blend delivers omega-3 (EPA and DHA), which plays a significant role in heart health and brain development.
- Wilmar International launched Arwana 3A+, a cooking oil enriched with omega-3, to specifically target the Chinese heart health functional food market. It was marketed a solution for omega-3 deficiency that leads to poor heart health.
Innovation in Product Offerings
Increase in health awareness has boosted demand for heart health functional food products over the last few years. Manufacturing companies have also shown a keen interest in improving their market presence by through new product development and increasing production capacities of existing plants.
- BASF SE expanded its production of omega-3 fatty acid in Asia to enhance its offerings in nutrition and health segments, as well as to offer new heart health functional food products.
- Tate and Lyle launched PromOat Beta Glucan for consumers in Asia-Pacific. This ingredient can be consumed easily on a daily basis. Additionally, this product helps to control high cholesterol levels as a well as helps avoid risk of coronary heart disease.
High Profit Margins Identified in Emerging Countries
Heart health functional food products are sold in the market at higher prices in comparison to conventional food products, thus ensuring higher profit margins for manufacturers of heart health functional food products. This creates favorable opportunities for players in the heart health functional food market. Additionally, it improves the prospects for better economic contribution in terms of revenue for the developing nations.
- Over the past decade, the heart health functional food market has increased at an exponential rate. As a result, emerging economies are also focusing on exports to cater to the growing demand for heart health functional food products in developed economies. Heart health functional food companies are positioned to gain significant profit margins at every level in the supply chain, from raw material manufacturers to end-retailers.
- The number of older people in developing countries is projected to increase more than 250% as compared to a 71% percent increase in developed countries. Increasing instance of cardiovascular diseases, primarily in older people, across these regions is expected to drive the growth of the heart health functional food market demand during the forecast period of 2019-2026
Japan to Represent Profitable Investment Pocket
The heart health functional food markets in Japan, China, and India are expected to witness high growth rates in terms of value between 2019 and 2026. Among all the countries in APAC, Japan is estimated to account for a comparatively higher value share in heart health functional food market in 2019. The heart health functional food market in Japan is expected to remain dominant over the forecast period and expected to gain 50 BPS to account for a 29.2% revenue share by 2026.
China is another primary market for manufacturers of heart health functional food products. Various governmental bodies across the region are devising and implementing new norms regarding consumption of heart health functional food products, especially food fortified with omega-3.
In India, the increasing prevalence of chronic and cardiovascular diseases is anticipated to propel market growth. The heart health functional food market in India is expected to gain 150 BPS to account for 17.7% market share in terms of value by 2026. Singapore, Indonesia, and Malaysia are other countries in APAC where the heart health functional food market is expected to witness significant growth over the forecast period.
Heart Health Functional Food Market Structure Analysis
- Market for heart health functional food in Asia Pacific is characterized by prominent presence of a large number of local and regional players.
- New market entrants are eyeing the opportunity in the expanding E-commerce penetration in Asian economies.
- Major players in the heart health functional food market are Nestlé S.A., The Kellogg Company, Marico Ltd., Raisio plc, Associated British Foods, Kalbe Farma Tbk, Bagrry’s India Ltd., PepsiCo, Inc., Ruchi Soya Industries Ltd., and ConAgra Foods, Inc., and many others.
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Heart Health Functional Food Market: Segmentation
The APAC heart health functional food market is segmented in detail to cover every aspect of the market and present complete market intelligence to readers.
- Breakfast Cereals
- Dairy Products
- Edible Oils
- Nutritional Bars
- Others (Eggs & Wine)
- Departmental Stores
- Grocery/ Retailers