Consumers have evolved to take a more proactive approach to health and wellness, which is growing the functional food, beverage and supplement markets globally.
According to a recent GlobalData consumer survey, nearly 80% of consumers are keen to consume health-enhancing ingredients through foods or beverages.
In Asia specifically, more than half of consumers are actively purchasing foods and beverages that help to improve overall health and well-being.
This consumer activity is growing the market for functional foods and beverages, as well as bolstering growth for vitamins and supplements.
Asia is the largest functional food and beverage market with an estimated value of $104 billion and projected steady growth at a CAGR of 3.6% during the next 5 years.
Specifically, countries such as China are forecast to experience strong growth increasing in market size by nearly 18% through 2022.
Many factors influence the growth and mainstreaming of functional foods and beverages, including a more proactive consumer approach to managing their health. Busy lives also mean consumers seek out convenient yet healthy snacks on the go.
Further growth is expected within the vitamins and dietary supplements market in Asia, which is currently valued at $46 billion and expected to grow nearly 25% through 2022.
Responding to this consumer demand for functional foods, beverages and supplements, Kerry, the Taste and Nutrition Company, will exhibit for the first time at Vitafoods Asia from September 11 to 12 in Singapore.
“We believe the functional ingredients market for foods, beverages and supplements is well primed for continued growth in Asia. This is due to a rising population, growth in disposable incomes and, most importantly, an increasing consumer interest in functional products with clear health benefits and great taste. For example, we see lots of innovation in this space, with a proliferation of healthy, exciting, portable and contemporary snacks being launched,” commented Brian Nevin, Senior Business Development Director, Asia.
“Kerry is in an outstanding position to partner with our customers. We develop innovative new products using our market leading expertise in taste and nutrition, combined with our breadth of applications knowledge. We are delighted to exhibit at Vitafoods Asia for the first time and look forward to meeting and collaborating with nutraceutical industry partners from across the Asia Pacific region.”
Kerry will feature two of its world-renowned branded functional ingredients, GanedenBC30 probiotics which help to support digestive health and Wellmune, a proprietary baker’s yeast beta glucan clinically proven to support immune health.
Additionally, the company will highlight its premium protein range including plant-based ProDiem and dairy-based Ultranor proteins, as well as TasteSense taste modulation technology.
