Market Size of Asia-Pacific Vitamin Fortified and Mineral Enriched Food & Beverage Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 7.80 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
APAC Mineral Enriched Food & Beverage Market Analysis
Asia-Pacific vitamin fortified and mineral enriched food & beverage market is projected to grow at a CAGR of 7.8% during the forecast period of 2020-2025.
- In Asia-Pacific, millennial or young working adults are the major target audience for the fortified food industry. They are young and much more open to changes in conventional products. Additionally, this group of consumers is more educated to recognize the added ingredients and are willing to pay more for these products with higher health benefits.
- Moreover, consumers are more likely to buy it for themselves as well as for their children, as compared to the older population. Therefore, with the increase in population, changes in buying patterns, and growing health concerns, the market share of vitamin fortified and mineral enriched food in the Asia-Pacific region is set to increase.
APAC Mineral Enriched Food & Beverage Industry Segmentation
Global vitamin fortified and mineral enriched food & beverage market segmented by Product Type, distribution channel, and geography. On the basis of product type, the market is segmented into Cereal based products, Dairy Products, Beverages, Infant Formulas, Others. On the basis of the distribution channels, the market is segmented into Supermarket/Hypermarket, Convenience Stores, Pharmacy/Drug Store, Online Retail Store, Others. On the basis of geography, the study provides an analysis of the vitamin fortified and mineral enriched food & beverage market in the emerging and established markets across the region, including China, Japan, India, Australia, and Rest of Asia-Pacific.
| By Product Type | |
| Cereal based products | |
| Dairy Products | |
| Beverages | |
| Infant Formulas | |
| Others |
| By Application | |
| Supermarket/Hypermarket | |
| Convenience Stores | |
| Pharmacy/Drug Store | |
| Online Retail Store | |
| Others |
| By Geography | |
| China | |
| Japan | |
| India | |
| Australia | |
| Rest of Asia-Pacific |
Asia-Pacific Vitamin Fortified and Mineral Enriched Food & Beverage Market Size Summary
The Asia-Pacific vitamin fortified and mineral enriched food and beverage market is experiencing significant growth, driven by a shift in consumer preferences towards healthier food options. Young working adults, particularly millennials, are the primary consumers in this sector, as they are more open to trying new products and are willing to invest in foods that offer enhanced health benefits. This demographic is increasingly purchasing these products for themselves and their children, contributing to the market's expansion. The rising population, evolving buying patterns, and heightened health awareness are key factors propelling the market's growth in the region.
In developed countries, the market is primarily driven by health-conscious individuals, including pregnant women, parents, and the elderly, who are aware of the benefits of fortified foods. Meanwhile, in developing countries, increased disposable income and growing health concerns are also contributing to market growth. China, in particular, is expected to see favorable growth due to rising health awareness and disposable income among its urban population. The market is characterized by a high level of competition, with numerous domestic and multinational companies vying for market share. Key players are focusing on launching new products with healthier ingredients and engaging in strategic partnerships and expansions to strengthen their market position.
Asia-Pacific Vitamin Fortified and Mineral Enriched Food & Beverage Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.2 Market Restraints
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1.3 Porter's Five Forces Analysis
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1.3.1 Threat of New Entrants
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Bargaining Power of Suppliers
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 By Product Type
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2.1.1 Cereal based products
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2.1.2 Dairy Products
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2.1.3 Beverages
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2.1.4 Infant Formulas
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2.1.5 Others
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2.2 By Application
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2.2.1 Supermarket/Hypermarket
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2.2.2 Convenience Stores
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2.2.3 Pharmacy/Drug Store
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2.2.4 Online Retail Store
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2.2.5 Others
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2.3 By Geography
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2.3.1 China
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2.3.2 Japan
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2.3.3 India
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2.3.4 Australia
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2.3.5 Rest of Asia-Pacific
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Asia-Pacific Vitamin Fortified and Mineral Enriched Food & Beverage Market Size FAQs
What is the current Asia-Pacific Vitamin Fortified and Mineral Enriched Food & Beverage Market size?
The Asia-Pacific Vitamin Fortified and Mineral Enriched Food & Beverage Market is projected to register a CAGR of 7.80% during the forecast period (2024-2029)
Who are the key players in Asia-Pacific Vitamin Fortified and Mineral Enriched Food & Beverage Market?
Abbott, Nestle SA, Kellogg Company and PepsiCo, Inc. are the major companies operating in the Asia-Pacific Vitamin Fortified and Mineral Enriched Food & Beverage Market.
Asia-Pacific Vitamin Fortified and Mineral Enriched Food & Beverage Report Snapshots
- Asia-Pacific Vitamin Fortified and Mineral Enriched Food & Beverage Market Size
- Asia-Pacific Vitamin Fortified and Mineral Enriched Food & Beverage Market Share
- Asia-Pacific Vitamin Fortified and Mineral Enriched Food & Beverage Market Trends
- Asia-Pacific Vitamin Fortified and Mineral Enriched Food & Beverage Companies
