Concurring to the ancient notion that “Let food be thy medicine,” the consumers in the Asia-Pacific (APAC) region are showcasing a considerable uptake for nutraceuticals. Easy availability of raw ingredients, coupled with favourable industrial regulations, continue to support the growth of the APAC nutraceuticals market. With the trends for healthy living gain buzz in the APAC countries, consumers are promisingly shifting towards nutraceuticals to combat the rising incidences of lifestyle diseases. Improvement in the food inspection operations and advancements in ingredient processing technologies have bolstered the production of nutraceuticals in the APAC region. In the foreseeable future, the demand for nutraceuticals in the APAC region is anticipated to witness a promising growth.
Key trends emerging in the APAC nutraceuticals landscape have been addressed below:
- Growing adoption of preventive care measures in the APAC healthcare sector will be driving the demand for nutraceuticals with multidisciplinary medical applications. High costs of treatment for chronic diseases such as diabetes, cancer, hypertension and obesity is favouring the consumption of nutraceuticals that come at affordable prices.
- Educational levels of common consumers in the APAC are progressing. Even in the most underdeveloped parts of the region, traditional and scientific knowledge has promoted the use of nutraceuticals that provide essential health benefits. As the awareness towards nutraceuticals gains traction, people are changing their dietary lifestyles to adapt their bodies to the foods and beverages that can maintain a proper health and balanced diet.
- Manufacturers in the APAC food and beverage industry are considering the convenience of consumers. Nutraceuticals are becoming the latest trend in extending the product lines for these industry leaders. 100% healthy nutrients have enabled them to create attractive labels, and companies are developing new formulations to cater to the unique nutritional needs of consumers.
- Research organizations are partnering with the key players of the APAC nutraceuticals market. New studies have paved way for innovative nutraceutical products. As a result, consumers are welcoming these products to understand their health benefits. While a majority of these products are regulated by stringent approval processes, new products entering the APAC nutraceuticals market are witnessing an easy sanction.
- Growing disposable incomes of consumers in countries such as China, South Korea, and Japan has spurred the uptake of nutraceuticals. Consumers are finding nutraceuticals more relevant than conventional medicines and dietary supplements. Effectiveness of nutraceuticals has further added to the changing attitudes of consumers in the APAC region.
- Procurement of ingredients required for the production of nutraceuticals has become less complex in APAC countries, particularly in India. Raw ingredients can be procured at affordable prices, which is enabling companies to attain cost-effective production. As a result, the companies are focusing on new packaging formats. Moreover, large-scale production of nutraceuticals is becoming more feasible in the APAC region, than any other part of the world.
- Countries like Singapore are becoming hubs of cosmopolitan culture. The demand for nutritional beauty supplements is high among women in such countries. In addition, the male consumer base in Singapore has been fuelling the demand for nutraceuticals enriched in docosahexaenoic acid. Such nutraceuticals are becoming sought-after for improving brain health. With respect to children, the demand for omega-3 based nutraceuticals is on an upsurge.
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In addition to the aforementioned trends, the nutraceuticals market in the APAC region is also witnessing the influence of changing macroeconomics. In Southeast Asian countries, economic growth being highly dependent on food and beverage industry has served as a key driving force for boosting the significance of nutraceuticals sales. Westernization of professional and personal lifestyles of consumers in the APAC countries is also expected to be a key trend in the region’s nutraceuticals market for the years to come.