Asia-Pacific Nutraceuticals Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Asia-Pacific Nutraceuticals Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Asia-Pacific Nutraceuticals Market is projected to register a CAGR of 7.5% during the forecast period.

Key Highlights

• The rapidly aging demographic profiles of various countries in the Asia-Pacific region, including Japan, Australia, and China, have presented a huge opportunity for the nutraceutical sector to develop and gain increasing revenues.
• The rising demand for nutraceuticals with medical benefits is one of the major factors driving the nutraceuticals market growth. They contain antioxidants, probiotics, and polyunsaturated fatty acids, which help in managing health issues, like obesity, CVD, cancer, cholesterol, arthritis, and diabetes.

Key Market TrendsGrowing Consumption of Dietary Supplements

The consumption of dietary supplements and functional products is also expected to increase, with growing fitness consciousness. The dietary supplements market in the region is anticipated to offer major investment opportunities, especially for herbal and Ayurvedic products. There has been an increase in the awareness about nutritional supplements, together with the development of an innovative range of fortified food products. Within the dietary supplements, demand for protein and botanicals is growing among the Indian consumers. Vitamins are the most used in dietary supplements among Australian consumers. Pediatric supplements are the fastest-growing segment due to strong sales in China.

China Dominates the Market

The market for nutraceuticals 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 supplements are using up a high composition of natural plant extracts with proven effectiveness, which are safe to be used. Vitamin-based supplements mainly dominate the market. More than 200 producers of these products are involved in manufacturing calcium supplements. The demand for botanicals is growing in the dietary supplements segment. Food consumption patterns in China have changed significantly, with consumers increasingly preferring protein bars.

Competitive Landscape

The Asia-Pacific nutraceuticals market is fragmented with the presence of global and local players. Companies are focusing on meeting consumer demands through product innovation, expansion, and mergers and acquisitions. The key players in the market are Kellogg Co., Herbalife International of America Inc., General Mills Inc., PepsiCo, and Nestle SA.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

IBM Corporation
Oracle Corporation
Internap Corporation
Packet Inc. (An Equinix Inc. Company)
Scaleway Inc.
Amazon Web Services Inc
Rackspace Inc.
CenturyLink, Inc.
LightEdge Solutions, Inc

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